Salt Lake Telegram | 1938-03-01 | Page 13 | Ruling Clears Lien Problem

RULING CLEARS lIEN May Be Compromised if No Bonds Liens held by Salt Lake City against real property and improvements improvements improvements improve improve- ments thereon for delinquent special improvement taxes may be compromised compromised compromised com com- promised if there are no outstanding ing bonds issued to finance the improvement improvement improvement im im- im- im provement Gerald Irvine assistant city attorney informed 9 ed city commissioners commissioners commissioners com com- missioners in a legal opinion Tues Tues- day Primary purpose of the lien isto is isto isto to protect bondholders who in most instances are contractors who performed performed performed per per- formed the improvement work the opinion indicated If If there are no outstanding bonds in my opinion Salt Lake City may compromise the tax re referred referred referred re- re to for a sum not less than the market value of our lien wrote the attorney Market value of the lien it was indicated calls for considering market market market mar mar- ket value of the property and weighing weighing weighing weigh weigh- ing that against delinquent taxes both for special improvements anc and general taxing purposes The opinion was given to the commission at the request of City Treasurer Milton E. E Lipman whose office is constantly handling transactions transactions transactions trans trans- actions involving some worth of delinquent special improvement improvement improvement im im- im- im provement taxes