Final determination of costs; revised assessment

Sec. 24. (a) The municipal works board may, with the approval of the municipal legislative body, determine all of the following: (1) Whether the benefits assessed against the municipality are proper and should be paid. (2) Whether the municipality should pay a part of the cost of the improvement regardless of benefits assessed. (b) An amount of benefits or costs to be paid by the municipality may be paid: (1) out of the money of the municipality appropriated to the use of the works board for such an improvement; or (2) through the issuance of bonds of the municipality. (c) The notice of hearing required by section 26 of this chapter shall be given after the cost of the improvement has been finally determined by the works board through firm bids or contracts and firm estimates for other costs. (d) If the finally determined cost of the improvement exceeds the total of: (1) the benefits assessed, less damages assessed; and (2) the contributions of the petitioners, the municipality, and other sources; the works board shall direct the appraisers to review the assessments and submit a revised assessment list. (e) The notice of hearing shall be given only after the works board determines that the money available from all sources is adequate to cover the total cost of the improvement, including all costs that are to be reimbursed under section 18(c) of this chapter.