Thayer v. Village of Downers Grove

The village board of appellant, the Village of Downers Grove, enacted an ordinance under section 86a of the Local Improvement act (Ill. Rev. Stat. 1937, chap. 24, par. 792a) to extend the time of payment of several installments of a special assessment, known in this record as assessment No. 123, and to issue refunding bonds to replace the securities issued in anticipation of collection of the special assessment. The original assessment had been divided into ten installments and the bonds bore interest at six per cent, payable annually. As authorized by section 86a, a petition was filed in the…