City of St. Petersburg v. United Mutual Life Insurance

Pursuant to its Charter, Chapter 6772, Acts of 1913, the City of St. Petersburg created special assessment districts, improved the streets and highways therein, and assessed the cost of such improvement against the property lying in the district, in most cases against the abutting property. The improvements were evidenced by certificates of indebtedness due in five years from date of issue, payment of which was guaranteed by the city.

In 1919 the City Charter was amended by Chapter 8355, Laws of Florida, which provided that when the city did not have sufficient funds to meet its obligations it…