The creation of local improvement districts by the town, the levying and collection of assessments therein, and the issuance of bonds and warrants thereof, shall be accomplished in accordance with the applicable provisions of the statutes of the state and the provisions of this chapter.
(Ord. 88 § 1, 1963; Ord. 600 § 1, 2010)
The town engineer is designated as the proper officer to make preliminary estimates and assessment rolls for local improvement districts of the town and to furnish to the town council such information as may be required by law to be furnished to the town council in connection with the formation of local improvement districts.
(Ord. 88 § 2, 1963; Ord. 600 § 1, 2010)
Local improvement bonds shall be in such denominations as may be provided in the ordinance authorizing their issue. The town may in such ordinance provide that the date, form and interest rate of such bonds and the denomination of the first numbered bond of such issue be subsequently fixed by resolution.
(Ord. 88 § 3, 1963; Ord. 600 § 1, 2010)
In levying local improvement assessments the town shall estimate the reasonable costs to be incurred in collecting such assessments and the same shall be added to the assessment roll as a part of the cost of the improvement.
(Ord. 88 § 4, 1963; Ord. 600 § 1, 2010)
Installments of assessments which shall become due in any local improvement district of the town shall be delinquent if not paid when due. All delinquent installments shall bear a penalty of five percent of both the principal and interest due on such delinquent installment or installments. If any assessment installment shall become delinquent, the entire assessment shall become due and payable and the collection thereof may be enforced by foreclosure in the manner provided by the laws of the state; provided, however, that payment of all delinquent installments together with interest, penalty and costs at any time before entry of judgment in foreclosure shall extend the time of payment on the remainder of the assessment installments as if there had been no delinquency or foreclosure.
(Ord. 88 § 5, 1963; Ord. 600 § 1, 2010)