Nashville Street Improvements. Contractor's ment for lution provide that the contractor shall execute to the city a good and sufficient bond in an amount to be stated bond. in such resolution, conditioned for the full and faithful performance of the contract, and for the protection of the city and all property owners interested against any loss or damage by reason of the negligence or improper execution of the work, and may require a bond in an amount to be stated in such resolution, for the maintenance of good condition of such improvement for a period of not less than five years from the time of its completion, or both, in the discretion of the Mayor and Council of said city. Said resolution shall also direct the agent or engineer of said city to advertise for sealed proposals for furn- Advertiseishing the materials and performing the work necessary proposals. in making such improvements. The notice for such pro- Notice. posals shall state the street, streets, or other public places to be improved, the kind of improvement proposed, what if any bond or bonds will be required to be executed by the contractor aforesaid, and shall state the time when and place where such sealed proposals shall be filed and when and where the same will be considered by the City of Nashville, by its Mayor and Council. Said notice shall be published once a week for two consecutive weeks in a Publication. newspaper having a general circulation in the City of Nashville. At the time and place specified in such notice the City of Nashville, by its Mayor and Council, shall examine all bids received, and without unnecessary delay award the contract to the lowest and best bidder who will Award of perform the work and furnish the materials which may be selected and perform all the conditions imposed by said City of Nashville as prescribed in such resolution and notice for proposals, and the said city, by its Mayor and Council, shall have the right to reject any and all bids and readvertise for other bids when any such are not in its judgement satisfactory. Sec. 7. Be it further enacted by the authority aforesaid, that as soon as the contract is let and the cost of such improvements, which shall include all other expenses contract. Nashville Street Improvements. Board of appraisers. Report of assessment. Objections. Notice. Review. Payment of assessments. Interest. incurred by the city incident to such improvements in The Nashville Street Improvements. The said Mayor and Council shall by ordinance levy assessments in accordance with the said appraisement and apportionment as so confirmed, against the several tracts of land liable therefor, and shall cause said appraisement and apportionment to be recorded on the mortgage rec- praisement. ords of Berrien County, duly certified as correct by the Clerk of the Council, and when so recorded, the charges assessed against the various parcels of and shall become Record of ap sessment. a first lien thereon, superior to all other liens except those Lien of asto the State of Georgia, the County of Berrien, and the City of Nashville. Installment payments. payment. Sec. 8. Be it further enacted by the authority aforesaid, that the first installments of said assessments, together with interest to that date upon the whole, shall be due and payable on the first day of November next succeeding the passage of said ordinance, and one installment with the yearly interest upon the amounts remain- Time for ing unpaid shall be payable on the first day of November in each succeeding year until all shall be paid; provided, that if such assessing ordinance shall be passed after the first day of October in each year, the first installment of such assessment and interest shall be due and payable on November the first of the following year. Said ordinance shall also provide that the owners of the property so assessed shall have the privilege of paying the amounts of their respective assessments within thirty says from the date of the passage of said ordinance. The owners of the property so assessed shall be allowed to make payment of their respective assessments without interest, within said period of thirty days, to the City Clerk of the City of Nashville and relieve their property from the lien of said assessments, which money so paid to the City Clerk shall be disbursed pro rata between the contractor Disbursement. and the City in proportion to their respective interests. Sec. 9. Be it further enacted by the authority aforesaid, that such special assessment and each installment Lien of astherefor and interest thereon are hereby declared to be sessments. Nashville Street Improvements. Bond issue. Non-liability. Payment of bonds. lien against the lots and tracts of land so assessed from the date of the ordinance levying the same, coequal with the lien of other taxes and prior to and superior to all other liens against such lots or tracts, and such liens shall continue until such assessment and interest shall be fully paid; but unmatured installments shall not be deemed to be within the terms of any general covenant of warranty. Sec. 10. Be it further enacted by the authority aforesaid, that the said City of Nashville, by its Mayor and Council, after the expiration of thirty days from the passage of said ordinance confirming and levying said assessment, shall by resolution provide for the issuance of bonds in the aggregate amount of such assessments remaining unpaid, bearing date fifteen days after the passage of the ordinance levying the said assessments, and of such denominations as the said City of Nashville, by its Mayor and Council, shall determine, which bond or bonds shall in no event become a liability of the City of Nashville, or its Mayor and Council issuing same. One tenth in amount of any such series of bonds, with the interest upon the whole series to that date, shall be payable on the 15th day of November next succeeding the maturity of the first installment of the assessments and interest and one tenth thereof, with the yearly interest upon the whole amount remaining unpaid, shall be payable on the 15th day of November in each succeeding year until all shall be paid. Such bonds shall bear interest at a Interest rate. rate not exceeding 7 per cent. per annum from their date until maturity, payable annually, and shall be designated as "Street Improvement Bonds," and shall on the face thereof recite the street or streets, part of street or streets, or other public places for the improvement of which they have been issued, and that they are payable solely from assessments which have been levied upon the lots and tracts of land benefitted by said improvements under authority of this Act. Said bonds shall be signed by the City of Nashville, by its Mayor, and attested by the Clerk, and shall have the impression of the corporate seal of Signature and seal. Nashville Street Improvements. such city thereon, and shall have interest coupons attached; and all bonds issued by authority of this Act shall be payable to bearer at such place, either within or without the State of Georgia, as shall be designated by said Mayor and Council. Said bonds shall be sold at not less sale price. than par, and the proceeds thereof applied to the payment of the contract price and other expenses by the said Mayor and Council, or such bonds in the amount that shall be necessary for that purpose may be turned over and delivered to the contractor at par value in payment of the amount due him on his contract, and the portion thereof which shall be necessary to pay other Disposal. expenses incident to and incurred in providing for said improvements shall be sold or otherwise disposed of as the said Mayor and Council shall direct. Said bonds may be registered by the City Clerk in a book to be pro- Registry. vided for that purpose, and certificates of registration by the clerk of said city shall be endorsed upon each of said bonds. Sec. 11. Be it further enacted by the authority aforesaid, that the assessments provided for and levied under Payments. the provisions of this Act shall be payable by the persons owning the said lots or tracts of land as the several installments become due, together with the interest thereon, to the City Clerk of the City of Nashville, who shall give proper receipt for such payment. It shall be the duty of the city clerk to keep accurate accounts of all Account of such collections by him made, and such collections shall collections. be kept in a special fund to be used and applied for the payment of such bonds and interest, and for no other purpose. It shall be the duty of the city clerk, not less than thirty days and not more than forty days before maturity of any installment of such assessments, to publish in a newspaper having a general circulation in said city, once a week for two consecutive weeks, a notice addressed generally to the property owners on the streets, Publication of avenues, alleys, or highways whereon said improvements were made advising the owners of the property affected by notice. |
