§ 250.351.

POSSESSION BONDS

If assessment proceedings are had pursuant to Subdivision 3 or 4 of Subarticle V of this Procedure Code, and proceedings shall be had for the taking of immediate possession of the property to be acquired, then the person in charge of said proposed acquisitions shall prepare and file with the Clerk an estimate of the amount of money necessary to be deposited in court for immediate possession, and proceedings shall be had for the issuance and sale of bonds therefor as provided for the issuance of acquisition bonds. In such event the Board shall issue only such amount of additional bonds as is necessary to provide for the additional costs of said project, and the proceeds of the possession bonds shall be finally used to apply to the cost of the acquisitions and improvements and expenses incidental thereto.

History

(Added by Ord. 225-81, App. 5/5/81)

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