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installments, with interest on deferred payments at the same rate as shall <br />be borne by the bonds to be issued in anticipation of the collection <br />thereof, provided that the owner of any property to be assessed may, at <br />his option, pay such assessment in cash within thirty (30) days after ~ <br />the passage of the assessing ordinance. <br /> <br /> Section 6. That'obligations of the City shall be issued, in <br />anticipation of the colledtion of special assessments by installments <br />and in an amount equal thereto, for the purpose of providing funds to <br />pay the cost of 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 <br />the issuance of notes and bonds of the City in the manner provided by <br />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 Sections 1 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 <br /> make and execute a contract for said improvement with the lowest and <br /> best 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 <br /> of this ordinance within fifteen (15) days following its passage. <br /> Section 11. That this ordinance, having been declared to be <br /> an emergency measure, shall be in full force and effect from and immediately <br /> after its passage and approval by the Mayor. <br /> <br />Mayor <br /> <br />Clerk of Council <br /> <br /> <br />