Authority of City to set off price of property purchased or condemned against assessments.
Memphis Charter, art. 53, § 526
in effectSec. 526. - Authority of City to set off price of property purchased or condemned against assessments.
In any improvement projected under the terms of this Act, or any amendments hereto, said legislative body shall have full power and authority to set off and apply the purchase price of any lands, rights or easements purchased or taken by said municipalities, toward the payment and discharge of the assessments levied against the abutting realty adjoining the property purchased or taken as authorized in this section. Should the purchase price of the property taken be ascertained prior to the fixing of the assessments, or prior to the election of the property owner to pay same in annual installments as provided in section 511 hereof, same shall be deducted from the assessment as a whole; and, if said purchase price be ascertained subsequent to the election of the property owner to pay same in annual installments, the aforesaid purchase price of property taken shall be applied and set off against the unpaid assessments, the purchase price to be divided according to the number of unpaid installments and applied equally toward the satisfaction of each unpaid installment.
(Priv. Acts 1921, Ex. Sess., ch. 37, § 1)
Source: City of Memphis, Code of Ordinances and Charter and Related Laws (Municode Library, library.municode.com)URL: https://library.municode.com/tn/memphis/codes/charter?nodeId=PTICHRELA_ART53STIMUNFRFOASLA_S526AUSEOFPRPRPUCOAGASFetched: 10/28/2026