In accordance with section 11.8 of the charter, the council in the ordinance authorizing the issuance of special assessment bonds may provide that whenever an improvement district has paid and canceled three-fourths (3/4) of its bonds issued and for any reason the remaining assessments are not paid in time to pay the final bonds of the district and the interest due thereon and there are not sufficient monies in the town's surplus and deficiency fund, then the town shall pay the bonds when due and the interest due thereon, and reimburse itself by collecting the unpaid assessments due and the interest due thereon, the improvement district. (Ord. 9, Series 1988)