Refunding of Excess Assessments - Authority and Procedure Generally

In the event the amount collected from the assessment under any improvement ordinance shall exceed the total cost and expense of the improvement, there shall be refunded to each of the parties affected by said assessment a proportionate amount of the excess upon demand made therefor by said parties within 12 months after maturity or payment of the bonds authorized by this division. (Acts 1927, No. 478, p. 534; Code 1940, T. 37, §305.)