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• • • LAWS OF FLORIDA 2203 annum, payable annually or semi-annually, and both principal and interest shall be payable at such place or places as the City Council may determine. The form of such bonds shall be fixed by ordi- nance of the City Council, and said bonds shall be under the seal of the City of Vero Beach, and shall be signed by the Mayor, coun- tersigned by the President of the City Council and attested by the City Clerk, with interest coupons attached which shall be signed in like manner, except that such interest coupons may be signed by the lithographed or facsimile signatures of the Mayor, President of the City Council and City Clerk, respectively. Bonds, issued here- under shall have all the qualities of negotiable paper under the law merchant and shall not be invalid from any irregularity or defect in the proceedings for the issue and sale thereof and shall be in- contestable in the hands of bona fide purchasers or holders thereof for value. Section 68. If any special assessment made to defray the whole or any part of local improvements shall be either in whole or in part annulled, vacated or set aside by the judgment of any court, or if the City Council shall be satisfied that any such assessment is so illegal and defective that the same cannot be enforced or collected, or if the City Council shall have omitted to make such assessment when it might have clone so, the City Council is hereby authorized and required to take all necessary steps to cause a new assessment to be made for the whole or any part of such improvements, and if the second assessment is annulled the City Council may proceed to make other assessments until a valid assessment shall be made. Section 69. All special assessments levied and imposed in respect of local improvements shall constitute a fund for the payment of principal and interest of the bonds authorized under this Act, and in the event there be a failure to collect and receive said special assessments in season to pay the principal and (or) in- terest of said bonds, the City Council of said City shall levy and collect on all taxable property in said City a tax sufficient to pay such principal and (or) interest, as has been hereinbefore provided. Section 70. The City Council shall have the power to pay out of its general fund, or out of any special fund that may be pro- vided for that purpose, such bonds for the cost of any local improvement as it may deem proper, and interest accruing while improvements are under construction and for six months there- iao