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-2- <br /> <br />estate or interest therein, expenses of legal services including obtaining <br />an approving iegal opinion, cost of labor and material and interest on bonds <br />and no, es iSsmed in anticipation of the legY and collection of the special <br />assessments tegether with all other necessary exPenditures. <br /> <br /> Sedtion 5. That the list of est~imated assessments as heretofore <br />prepared by the Director of Finance and included in the report of the BOard <br />of Revisions Of Assessments be and the same is hereby approved ~nd the assess- <br />ments so to be levied shall be paid in ten (10) semi-annual installments, <br />with interest on deferred payments at the same rate as shall be borne by the <br />bonds to be issued in anticipation of the collection thereof, provided that <br />the owner of any property to be assessed may, at his option, pay such assess- <br />ment in cash within thirty (BO) days after the passage of the assessing <br />ordinance. <br /> <br /> Section 6. That bonds of the City shall be issued in anticipation <br />of the collection of assessments by installments and in an amount equal 'thereto <br />and notes of said City shall be issued in anticipation of the levy of such <br />assessments and the issuing of such bonds. <br /> <br /> Section 7. That the remainder of the entire cost of this improve- <br />ment, after application of the assessments herein provided shall be paid by <br />the 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 />after 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 ordinance 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 immediately <br />after its passage and mpproval by the Mayor. <br /> <br />Passed: May 6, I968 <br /> <br />Approved: <br /> <br />May 6, 1968 <br /> <br />Robert E. Wendling <br /> <br />President of Council <br /> Grace Reynolds <br /> <br />Clerk of Council <br /> <br />Robert M. Lawther <br /> <br />Mayor <br /> <br /> <br />