(65 ILCS 5/9-2-114) (from Ch. 24, par. 9-2-114)
Sec. 9-2-114.
Except as otherwise provided in Section 9-2-117, within 30
days after the final completion and, where required, acceptance of the
work, as provided in Section 9-2-112, the board of local improvements shall
have the cost thereof, including the cost of engineering services,
certified in writing to the court in which the assessment was confirmed,
together with an amount estimated by the board to be required to pay the
accruing interest on bonds or vouchers issued to anticipate collection.
Thereupon, if the total amount assessed for the improvement upon the public
and private property exceeds the cost of the improvement, all of that
excess, except the amount required to pay such interest as is provided for
in this Division 2, shall be abated and the judgment reduced
proportionately to the public and private property owners and shall be
credited pro rata upon the respective assessments for the improvement under
the direction of the court.
In case the assessment is collectible in installments, this reduction
shall be made so that all installments shall be equal in amount, except
that all fractional amounts shall be added to the first installment so as
to leave the remaining installments in the aggregate equal in amount and
each a multiple of $100. If prior to the entry of the order abating and
reducing the assessment the assessment has been certified for collection
pursuant to the provisions of Section 9-2-76, and any of the installments
of the assessment so certified for collection have become due and payable,
the reduction and abatement above referred to shall be made pro rata upon
the other installments. The intent and meaning of this is that no property
owner shall be required to pay to the collector a greater amount than his
proportionate share of the cost of the work and of the interest that may
accrue thereon.
(Source: Laws 1961, p. 576.)
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