Owner may sell land to city.
Section 3
SEC. 3. Owner may sell land to city.—Should the cost of filling any lot or ground belonging to a private owner exceed one-half of the assessed value thereof, the owner shall have the option to either sell the property to the city at current market value or reimburse the amount expended for filling in twenty equal annual installments as provided in section five of this Act. In case the owner decides to sell his property for inability to pay the cost of filling, the city shall purchase it and the cost thereof shall be charged to the special fund herein created: Provided, however, That the city shall dispose of the land by public auction to the highest and best bidder, but no award shall be made unless the amount of the offer is at least equal to the cost of the land, including the cost of filling and incidental expenses. The proceeds of such sale shall be restored to said special fund.