§ 11.5. — Payment of Securities by City:

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Whenever a special or local improvement district has paid and cancelled three-fourths (¾) of its securities issued and for any reason the remaining assessments are not paid in time to redeem the final securities of the district, the City shall pay the securities when due from funds created pursuant to this Article and reimburse itself by collecting the unpaid assessments due the district.

                    
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