(65 ILCS 5/9-2-74) (from Ch. 24, par. 9-2-74)
Sec. 9-2-74.
At any time after the bids have been received pursuant to the
provisions of this Division 2, if it appears to the satisfaction of the
board of local improvements that the first assessment is insufficient to
pay the contract price or the bonds or vouchers issued or to be issued in
payment of the contract price, together with the amount required to pay the
accruing interest thereon, the board shall make and file an estimate of the
amount of the deficiency. Thereupon a second or supplemental assessment for
the estimated deficiency of the cost of the work and interest may be made
in the same manner as nearly as may be as in the first assessment, and so
on until sufficient money has been realized to pay for the improvement and
the interest. It shall be on objection to the supplemental assessment that
the prior assessment has been levied, adjudicated, and collected unless it
appears that in that prior cause upon proper issue made, it was specially
found in terms, that the property objected for would be benefited by the
improvement no more than the amount assessed against it in that prior
proceedings.
If too large a sum is raised at any time, the excess shall be refunded
ratably to those against whom the assessment was made.
But if the estimated deficiency exceeds 10% of the original estimate, no
contract shall be awarded until a public hearing has been held on the
supplemental proceeding in like manner as in the original proceedings. No
more than one supplemental assessment shall be levied to meet any
deficiency where the deficiency is caused by the original estimate made by
the engineer being insufficient.
Where the improvement is to be constructed with the aid and assistance
of any federal agency or other governmental agency after judgment of
confirmation if there appears a deficiency in assessments levied in excess
of 10% of the original estimate the municipality shall not proceed with the
construction of the work until a new hearing has been held upon the levy of
a special assessment to make up that deficiency.
However, the petitioner, in case it so elects, may dismiss the petition
and vacate the judgment of confirmation at any time after the judgment of
confirmation is rendered, and begin new proceedings for the same or a
different improvement as provided in Section 9-2-65.
(Source: Laws 1961, p. 576.)
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