Inter-Ocean Reinsurance Co. v. City of Sioux City

The petition alleges that the assessment against the lots in question was in excess of the benefits conferred, and greatly exceeded 25 per cent of the actual value thereof; that such over-assessment was intentionally and willfully made and constitutes fraud. It further alleges that assessment certificates based upon the over-assessment were issued to and received by the contractor in payment of the special assessment, and were duly assigned to the plaintiff; that said assessment certificates purchased by plaintiff certified that: “All acts, conditions, and things required to be done precedent…