Public Improvements, Betterments, Power to Construct and Maintain. of such work. The said bonds shall be payable ten years from their date, but any bond or bonds so issued and sold shall, at the option of the city or town, be payable at any interest period, but in the event the city or town should elect to pay off any such bond or bonds before maturity, it shall pay as a bonus to the holder thereof a sum equal to one-fourth the annual interest thereon, and the city or town shall give public notice of its intention to redeem said bond or bonds, describing the same by number and series, by publication once a week for three consecutive weeks in a newspaper published in said city or town, or of general circulation therein. 235, § 17; ed Aug. 14, 1907, 1411. Bonds by city of less than six thousand inhabitants. Mar. 5, -Any city or town having a population of less than six thou- 1907, p. sand may, notwithstanding the amount or character of any as amend bonded or other indebtedness, issue such bonds, but the same shall be a lien or charge only against the property improved p. 644, § 1. and against the fund collected from the assessments levied against the property improved, and shall not be the general obligation of the city or town, nor shall such city or town be in any way liable to the holders of such bonds in case of failure to collect the same. Such last described bonds when issued shall convey and transfer to the owners thereof all right, title, and interest in and to the assessment, and the lien upon the respective lots or parcels of ground herein provided for, which liens and assessments shall stand as security for such bonds and coupons until they are paid, with full power in the holder of such bonds or coupons to enforce the collection thereof by foreclosure in any court of competent jurisdiction. Provided, that the first bond or coupon holder who institutes a foreclosure suit in any court against any property assessed, shall only be entitled to have the proceeds of said suit applied pro rata to the payment of his own bonds and the bonds held by others, so that not more than one foreclosure suit shall be brought against any one lot or parcel of land. Aug. 14, 1907, p. 1412. Proceeds of bond sale; how applied.-The proceeds Ib., § 18; from the sale of bonds authorized to be issued by this article shall be applied only to the payment of the cost of improve- 644, § 2. ment designated in the ordinance providing for their issue, but should there be any surplus from any bond issue over and above such cost, it may be applied to the cost of other improvements, the cost of which shall be assessed and collected as provided for in this article. p. 644, § 2. 1413. Account of funds from assessments required to be Aug. 14, kept.-It shall be the duty of the city official charged with the 1907, P duty of collecting assessments to keep an accurate account of all funds arising from all assessments for public improvements and to carefully and accurately keep a separate account Aug. 14, 1907, p. 644, § 2. Ib. Ib. Public Improvements, Betterments, Power to Construct and Maintain. 1414. Officers collecting assessments liable on official bonds for funds. The city official charged with the duty of collecting assessments shall be liable on his official bond to any holder of the bonds authorized to be issued under this article for any loss or injury to such bond holder caused by the diversion by said officer of any fund or part thereof, to the payment of any bonds or coupons, or indebtedness of the city or town, other than the bonds and interest coupons entitled and indebtedness herein authorized to be paid out of said fund, or by the use or misappropriation by said officer of any part of the funds out of which said bonds are required and contemplated in this article to be paid for any other purpose than provided for in this article; or for the benefit of the city or town or others. And all members of the governing body or bodies of the city or town who shall, by their vote, or in any other manner, cause, aid, or encourage any such diversion, use or misappropriation of the funds out of which the bond holders are entitled to be paid, for any other purpose than that authorized and required in this article, whereby loss or injury to the bond holders or any of them is caused, shall be jointly and severally liable to such bond holders injured, to the extent of such loss or injury. 1415. Deposit of funds arising from assessments; how funds drawn out. All proceeds arising from the collection of assessments levied under the provisions of this article shall, as soon as collected, be deposited, and shall be kept by the city official charged with the duty of collecting assessments in some bank or banks paying interest on time deposits, to be designated by the mayor and aldermen. Said collections shall not be deposited with the general funds of the city or town, but shall constitute a separate deposit to the account of the "Public Bond Improvement Fund," and shall be drawn out on check or order, and the mayor and aldermen may pass all proper ordinances and regulations requiring countersignature of the said checks and orders. 1416. Redemption of bonds.-At any time when the amount of any particular fund shall, with its accumulations, equal the amount of outstanding bonds and accrued interest entitled to payment out of such fund, the mayor and aldermen shall have authority to redeem any and all such bonds that may be pre Public Improvements, Betterments, Power to Construct and Maintain. sented for redemption at such time thereafter as the holders thereof may desire to present the same for redemption. The excess, if any, when all the bonds and coupons are redeemed, and the interest thereon paid, and not in excess of the total cost and expense of the improvement to be converted into the general revenue fund of the city. 1417. Refunding to parties proportionate amount of excess. Aug. 14, -In the event the amount collected from the assessment under 1907, p. 644, $ 2. any improvement ordinance shall exceed the total cost and expense of the improvement, there shall be refunded to each of the parties affected by said assessment a proportionate amount of the excess upon demand made therefor by said parties within twelve months after maturity or payment of the bonds authorized by this article. 1418. Limitation for presenting claim.-If such claims be not ь. presented within twelve months from the date of the maturity or payment of the bonds, they shall be forever barred, and such amounts shall be converted to the general revenue fund of the city or town. 1419. Mode of improvements not exclusive of other modes. -Nothing in this article shall be so construed as to take from the council of any city or town, or in any manner affect the power and authority to compel the property owners by penal ordinance or otherwise, to repair the sidewalks in front of their property in such manner, and with such material, as may be directed under the supervision of the engineer or other officer or agent of the city or town, or to cause such repairs to be made at the expense of the property owner, such expense to be collected as in the case of taxes. Mar. 15, 1907, p. 235, § 19; Aug. 13, 1907, P. 790, $140. 1420. Lands purchased or condemned by municipality for Ib., § 20; public improvements.-Whenever, in the judgment of the Ib., § 141. council, it may be necessary or expedient for the carrying out and full exercise of the powers hereby granted, such council. may acquire by purchase or condemnation the necessary lands, or rights or easements, or interests therein, thereunder, and thereover, and may proceed to condemn the same in the man. ner provided in this article or by the general laws of this state governing the taking of lands or the acquiring of an interest therein, for the uses for which private property may be taken; in which case such proceedings shall be governed in every respect by the general laws of the state pertaining thereto. Municipal Bonds for Public Utilities. Feb. 25, 1903, p. 59, § 1. Ib.. $ 2. 1421. Municipal bonds; elections for.―The mayor and common council, mayor and aldermen, or other governing body, of any city or town in this state, may order elections to be held in such city or town for the purpose of the qualified electors of such municipality voting upon and deciding the question as to whether or not the bonds of such municipality shall be issued for the purpose of purchasing or constructing public buildings, sewers, streets, alleys, bridges, and public school houses and buildings, to purchase waterworks and light plants, or to construct the same, or for such other purposes as are authorized by law, whenever such governing board deems it necessary; but no second election under this article shall be held within two years of an election theretofore held for the same purpose, unless it be to authorize the issue of bonds to rebuild public buildings or other public utilities or bridges, destroyed since the issue of the order of such first election. Act not violative of § 45 of the Constitution, does not contain two subjects.-Blakey v. Mont., City of, 144 Ala. 481 (39 So. 745). 1422. Notice of election for bond issue.-Notice of such election shall be given for thirty days by publication in a newspaper published in the municipality in which such election is to be held, once a week for three successive weeks, which notice shall state the purpose for which the election is to be held, and the time and place of holding same, the amount of the proposed bond issue, the rate of interest the bonds are to bear, the time for which they are to run, and the purpose for which the bonds are to be issued, and such notice shall be signed by the mayor or other chief executive of such municipality in which such election is to be held, and if no newspaper is published therein, such notice must be posted in five publie places in said municipality at least thirty days before the time of holding said election. Municipal Bonds for Public Utilities. 1903, p. 59, § 3. 1423. Form of ballots.-The ballot used at such elections Feb. 25, must be prepared by the mayor or other chief executive officer, and shall contain the words, "For bond issue," and "Against bond issue" (the character of the bonds to be shown in the blank space), and the voter shall indicate his choice by placing a cross mark before or after the one or the other. 1424. Officers of election. The mayor and aldermen, or Ib., § 4. other governing body, of such municipality in which an election under this article is to be held, shall appoint three managers and one returning officer for each voting precinct in such municipality to conduct said election, and in appointing such managers, as far as practicable, at least one manager at each voting precinct shall be for bond issue and one against bond issue. The chief executive officer of such municipality shall notify the managers and returning officers of such appointments, and shall deliver the boxes and ballots to the managers at the several voting precincts in the municipality. 1425. Expenses of election; how paid.-All expenses for Ib., § 5. holding such election shall be paid out of the treasury of the municipality in which the same is held, and the managers, clerks, and returning officers shall be entitled to the same compensation as managers, clerks, and returning officers at other municipal elections. 1426. Canvassing board. The mayor and aldermen, or Ib., § 6. other governing board, of the municipality in which an election is held under this article, shall constitute a board to canvass the returns and declare the result of such election, and it shall meet at the usual place of meeting on the day after the date of holding such election, and canvass the returns and declare the result thereof. 1427. Contest of such election.-Any election held under the г., § 7. provisions of this article can be contested by any qualified (r.c.c.) elector of city or town, by executing a bond with sufficient security, to be approved by the judge of probate of the county for the payment of the costs of the contest. Notice of the contest shall be served on the mayor of the city or town in which such election was held, upon the execution of a bond for costs, with sufficient security, to be approved by the judge of probate of the county, the city or town shall be made contestee, and an answer shall be filed in the name of such city or town. All provisions and incidents of the election law of this state relating to contest of an election of justice of the peace shall be observed as to the contest of an election held hereunder, but no contest of an election can be instituted after the expiration of ten days from the date of the canvass of the returns of said election. |