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Section $. That the owners cf the several lots or parcels of <br />land included in said assessment shall pay one-half the amount from <br />them severally due as shown by col,,mn 3 of said estimated Assessment <br />Report No. 736, to the City Treasurer on or before thirty days frcm <br />the date of the passage of this ~rdinance, at their option, and in <br />default thereof, said special assessment, with interest at the rate <br />of 3% per annum upon deferred payments, shall he payable to the <br />C~unty Treasurer in annual installments with regular taxes of 19~9 to <br />1963, both inclusive. <br /> <br /> Section 5. That said an~ual payments of said assessments, and <br />portions thereof, and interest thereon, shall be applied to the pay- <br />ment of bonds t~ be issued in anticipation of the collection thereof, <br />and the interest thereon, as the same shall become due and to no other <br />purpose whatsoever. <br /> <br /> Section 6. That this ordinance shall be in full force and ef- <br />fect from and after the earliest period allowed by law. <br /> <br />Adopted:_ July 21, 1958. <br /> <br />Thomas C. Ward <br /> President <br /> <br />Approved:. July 22. <br /> <br />H. A.,,Rees <br /> Clerk <br /> <br />Frank P. Celeste <br /> Mayor <br /> <br /> <br />