8.12.450 - Bondholder's remedy limited to assessments.

Bondholder's remedy limited to assessments.

Neither the holder nor owner of any bond issued under the authority of this chapter shall have any claim therefor against the city by which the same is issued, except from the special assessment made for the improvement for which such bond was issued, but his remedy in case of nonpayment, shall be confined to the enforcement of such assessments. A copy of this section shall be plainly written, printed or engraved on each bond so issued.

[1915 c 154 § 16; RRS § 9268.]