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-2- <br /> <br />appropriating~ and otherwise acquiring therefor any required real estate or <br />interests therein, expenses of legal services including obtaining an approving <br />legal opinion, cost of labor and m~terial and interest on bonds and notes issued <br />in ~nticipation of the levy and collection of the special assessments together <br />with all other necessary expenditures. <br /> <br /> Section 5. That the list of estimated assessments ms heretofore pre- <br />pared by the Director of Finance and included in the report of the Board of <br />Revision of Assessments be and the same is hereby approved and the assessments <br />so to be levied shall be paid in ten (10) semi-a~nual installments, with inter- <br />est on deferred payments at the same rate as shall be borne by the bonds to be <br />issued in anticipation of the collection thereof, provided that the owner of <br />any property to be assessed may, at his option, pay such assessment in cash <br />within thirty (30) days after the passage of the assessing ordinance. <br /> <br /> Section 6. That obligations of the City shall be issued, in <br />anticipation of the collection of special assessments by installments and in an <br />amount equal thereto, for the purpose of providing funds to pay the cost of <br />this improvement. <br /> <br /> Section 7. That the remainder of the entire cost of this improvement, <br />after application of the assessments herein provided shall be paid by the <br />issuance of notes and bonds of the City in the manner provided by law. <br /> <br /> Section 8. That pursuant to Article XIV, Section 16 of the Charter <br />of the City~ the Director of Public Works has heretofore certified to this <br />Council that his estimate of the life of the improvement described in Section <br />i and 2 hereof is ten (10) years. <br /> <br /> Section 9. That the Director of Public Works be and he is hereby <br />authorized and directed as soon as the funds therefor are available to make <br />and execute a contract for said improvement with the lowest and best bidder <br />~fter advertising according to law. <br /> <br /> Section 10. That the Clerk of this Council be and she is hereby <br />directed to deliver to the Auditor of Cuyahoga County a certified copy of <br />this ordin~nce within fifteen (15) days following its passage. <br /> <br /> Section ll. That this ordinance, having been declared to be an <br />emergency measure~ shall be in full force and effect from and t~mediately <br />after its passage and approval by the Mayor. <br /> <br />Passed: APril, 1967 <br /> <br />Charles S. Hu.~f~an. <br /> President of Council <br /> <br />Approved:APril 17. 1967 <br /> <br />Grace Re.Mnold6 <br />Clerk of Coundil <br /> <br />Robert M.. Lawthe.r <br /> Mayor <br /> <br /> <br />