§ 21-405. Procedure when value of land not equal to future assessments.
When the fund in the custody of any county treasurer shall be exhausted inthe payment of annual assessments against such lands, or there shall not be asufficient sum to pay the next annual assessment, such treasurer shallimmediately give written notice to that effect to the chairman of the boardof viewers of the county in which the petition was filed, and to the clerk ofthe board, and also to the clerk of the circuit court of the county for whichhe is treasurer, whereupon the board of viewers for the county in which thepetition was filed shall institute an investigation of the tract or tracts ofland to determine the market value thereof, and if they shall find the marketvalue of the tract or tracts is not equal to all the future annualassessments to cover its share of installments of principal and interest onthe outstanding bonds, they shall proceed to make new assessment rolls on allthe remaining lands in the project and increase the sum in sufficient sums toequal the deficit thereby created, and such new assessment rolls shallconstitute the future assessment rolls until changed, according to law, andshall be certified to the proper county treasurer or treasurers as hereinprovided in lieu of the former assessment rolls.
However, the tract or tracts of land which have been so sold by any countytreasurer shall continue on the assessment rolls in the name of the newowner, but reassessed upon the new basis, and the drainage tax collected atthe same time and in the same manner as other lands, so long as the lands mayhave sufficient market value out of which to collect the annual drainage tax,and when such lands shall fail to have such value, or shall be abandoned bythe person claiming title thereto, the board of viewers may omit the samefrom the assessment roll; but the lands may in the same manner at any time inthe future be restored to the assessment rolls.
§ 21-405. Procedure when value of land not equal to future assessments.
When the fund in the custody of any county treasurer shall be exhausted inthe payment of annual assessments against such lands, or there shall not be asufficient sum to pay the next annual assessment, such treasurer shallimmediately give written notice to that effect to the chairman of the boardof viewers of the county in which the petition was filed, and to the clerk ofthe board, and also to the clerk of the circuit court of the county for whichhe is treasurer, whereupon the board of viewers for the county in which thepetition was filed shall institute an investigation of the tract or tracts ofland to determine the market value thereof, and if they shall find the marketvalue of the tract or tracts is not equal to all the future annualassessments to cover its share of installments of principal and interest onthe outstanding bonds, they shall proceed to make new assessment rolls on allthe remaining lands in the project and increase the sum in sufficient sums toequal the deficit thereby created, and such new assessment rolls shallconstitute the future assessment rolls until changed, according to law, andshall be certified to the proper county treasurer or treasurers as hereinprovided in lieu of the former assessment rolls.
However, the tract or tracts of land which have been so sold by any countytreasurer shall continue on the assessment rolls in the name of the newowner, but reassessed upon the new basis, and the drainage tax collected atthe same time and in the same manner as other lands, so long as the lands mayhave sufficient market value out of which to collect the annual drainage tax,and when such lands shall fail to have such value, or shall be abandoned bythe person claiming title thereto, the board of viewers may omit the samefrom the assessment roll; but the lands may in the same manner at any time inthe future be restored to the assessment rolls.
§ 21-405. Procedure when value of land not equal to future assessments.
When the fund in the custody of any county treasurer shall be exhausted inthe payment of annual assessments against such lands, or there shall not be asufficient sum to pay the next annual assessment, such treasurer shallimmediately give written notice to that effect to the chairman of the boardof viewers of the county in which the petition was filed, and to the clerk ofthe board, and also to the clerk of the circuit court of the county for whichhe is treasurer, whereupon the board of viewers for the county in which thepetition was filed shall institute an investigation of the tract or tracts ofland to determine the market value thereof, and if they shall find the marketvalue of the tract or tracts is not equal to all the future annualassessments to cover its share of installments of principal and interest onthe outstanding bonds, they shall proceed to make new assessment rolls on allthe remaining lands in the project and increase the sum in sufficient sums toequal the deficit thereby created, and such new assessment rolls shallconstitute the future assessment rolls until changed, according to law, andshall be certified to the proper county treasurer or treasurers as hereinprovided in lieu of the former assessment rolls.
However, the tract or tracts of land which have been so sold by any countytreasurer shall continue on the assessment rolls in the name of the newowner, but reassessed upon the new basis, and the drainage tax collected atthe same time and in the same manner as other lands, so long as the lands mayhave sufficient market value out of which to collect the annual drainage tax,and when such lands shall fail to have such value, or shall be abandoned bythe person claiming title thereto, the board of viewers may omit the samefrom the assessment roll; but the lands may in the same manner at any time inthe future be restored to the assessment rolls.
