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Section 5, That the owners of 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 column 3 of said estimated Assessment <br />Report No. 750, to the City Treasurer on or before thirty days from <br />the date of the passage of this ordinance, at their option, and in <br />default thereof, said special assessment, with interest at the rate of <br />3% per annum upon deferred payments, shall be payable to the County <br />Treasurer in annual installments with regular taxes of 1959 to 1963, <br />both inclusive. <br /> <br /> Section 5. That said annual payments of said assessments, and <br />portions thereof, and interest thereon, shall be applied to the pay- <br />ment of bonds to be issued in anticipation of the collection thereof, <br />and the interest thereon, as the same shall become due and to no <br />other purpose whatsoever. <br /> <br /> Section 6. That this ordinance shall be in full force and <br />effect from and after the earliest period allowed by law. <br /> <br />Adopted: <br /> <br />August 8, 19~8 <br /> <br />Thomas C. Ward <br /> <br />President <br /> <br />Approved:.. August 8, 19~ <br /> <br />H. A. Rees <br /> <br />Clerk <br /> <br />Frank P... Celeste <br /> Mayor <br /> <br /> <br />