539.453 - Levy and collection of annual assessments for payment of interest and redemption of securities.
539.453 Levy and collection of annual assessments for payment of interest and redemption of securities.
1. For the payment of interest and the redemption of the bonds, notes or certificates of indebtedness, the board of directors shall levy annual assessments for the amount of interest and the redemption of the bonds, notes or certificates of indebtedness upon the lands affected by the local improvement according to the apportionment of benefits, and the assessments shall be delivered to the secretary of the district and entered by the secretary in the assessment book or books thereof.
2. Such assessment or assessments and the collection thereof shall thereafter take the same course as assessments of the district as provided in this chapter.
[Part 49 1/2:64:1919; added 1923, 289; A 1929, 286; NCL § 8066]