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-2- <br /> <br /> Section 5. That the list of estimated assessments as heretofore <br />prepared by the Director of Finance and as amended, and adjusted in the <br />report of the Board of Revisions of Assessments be and the same is hereby <br />approved and the assessments so to be levied shall be paid in ten (10) <br />semi-annual installments, with interest on deferred payments at the same <br />rate as shall be borne by the bonds to be issued in anticipation of the <br />collection thereof, provided that the owner of any property to be assessed <br />may, at his option~ pay such assessment in cash within thirty (30) days <br />after the passage of the assessing 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 <br />thereto and notes of said City shall be issued in anticipation of the levy <br />of such 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 amd bonds of the City in the manner provided by law. <br /> <br /> Section 8. That pursuant to Article XIV, Section 16 of the <br />Charter of the City, the Director of Public Works has heretofore certified <br />to this Council that his estimate of the life of the improvement described <br />in Section 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 <br />bidder 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 approval by the Mayor. <br /> <br />Passed: ~May,6, 1965 <br /> <br />Approved :May_~ 6,, 1968 <br /> <br />Robert E. Wendling <br /> <br />President of Council <br /> <br />Grace Reynolds <br /> <br />Clerk of Council <br /> <br /> Robert M. Lawther <br />.......... Mayor <br /> <br /> <br />