311.28 - CERTIFICATES ANTICIPATING ASSESSMENTS.

        311.28  CERTIFICATES ANTICIPATING ASSESSMENTS.         In order to render immediately available that amount of the      estimated cost of an improvement which has been specially assessed,      the board may issue road certificates in the name of the county in an      aggregate amount not exceeding the then unpaid amount of the special      assessment levied in the district.  Each issue of certificates shall      be under, and in accordance with, a duly adopted resolution of the      board which shall recite all of the following:         1.  The name or designation of the road district on account of      which the certificates are issued.         2.  That a stated amount has been specially assessed against the      lands within the district.         3.  That a stated amount of the aggregate special assessment has      not yet been paid.         4.  That it is necessary to render the unpaid amount immediately      available.         5.  The number of road certificates authorized and the specific      amount of each certificate.         6.  The specific numbering or designation of the certificates.         7.  The rate of interest which each certificate shall bear from      date, not exceeding that permitted by chapter 74A.         8.  The fact that the certificates are payable solely from the      proceeds of the special assessments which have been levied on the      lands within the districts.         9.  That each certificate shall be payable on or before January 1      of the first year following the maturity of the last installment of      the special assessments, and that interest on the certificate shall      be paid annually.         10.  The authorization to the chairperson of the board, and to the      county treasurer, to sign and countersign each of the certificates.      
         Section History: Early Form
         [C24, § 4717; C27, 31, 35, § 4753-a9; C39, § 4753.09; C46, §      311.19; C50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, S81, § 311.28;      81 Acts, ch 117, § 1217]