§ 69-1313. Funds for acquisition.

(a) All monies required to be paid by the governing body of the board of county commissioners by reason of condemnation proceedings, and to the extent that the same are to be eventually paid by assessments levied in accordance with this article, shall be furnished by the contractor as from time to time needed in the progress of the condemnation proceedings.

(b) Upon the furnishing of any such sums there shall be delivered to the contractor by the governing body or the board of county commissioners an interim certificate, in the amount of the sum so furnished, naming the contractor as payee, dated of even date, and bearing six percent (6%) interest per annum.  The certificate shall provide that it is issued in accordance with the provisions of this article, and payable only in the manner herein provided.  The certificate shall be signed by the mayor or chairman of the governing body or board, as appropriate, and attested by the city or county clerk.  It shall be in all respects negotiable, and shall be conclusive evidence of the fact that the sums were so furnished by the payee for the purpose aforesaid.

(c) If through default or failure of the city or county to complete the acquisition of the necessary property or shall fail to complete the limited access facility, the owner or holder of the certificate shall then, and in that event only, be entitled to personal judgment against the city or county so issuing the certificate, which judgment may be collected as provided by law.

Laws 1968, c. 415, § 1313, operative July 1, 1968.