§ 15-6-432 — Bonds; cost assessment; payments; interest

Wyoming § 15-6-432

• Jurisdiction: Wyoming
• Title 15: Cities and Towns
• Ch. 6: LOCAL IMPROVEMENTS
• Art. 4: ASSESSMENTS AND BONDS GENERALLY

Text

If any city or town issues bonds to pay the cost and expense of
any local improvement, the cost and expense shall be assessed
against the lots, tracts and parcels of land and other property
liable. The ordinance levying the assessment shall provide that
the sum charged against each may be paid during the thirty (30)
day period as provided in W.S. 15-6-439, unless the legal owners
of record of all property assessed in the district waive that
thirty (30) day period. The ordinance levying the assessment
shall specify whether the sum remaining unpaid is payable in
equal annual or semiannual installments for a period of years
equal to that which the bonds issued to pay for the improvement
run, with interest upon the whole unpaid sum at a rate fixed by
ordinance, or in equal level annual or semiannual installments
of principal and interest thereon at a rate fixed by ordinance
for a period of years equal to that period for which the bonds
to pay for the improvements were issued.