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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 included in the report of the <br />Board of Revision of Assessments be and the same is hereby approved and <br />the assessments so to be levied shall be paid in ten (]0) semi-annual <br />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 thereof, <br />provided that the owner of any property to be assessed may, at his option, <br />pay such assessment in cash within thirty (30) days after the passage <br />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 <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 />Approved: <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 best <br />bidder after advertising according to law. ' <br /> <br /> Section 90. 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 /> <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 itspassage and approval by the Hayor. <br /> <br /> President of.Council / <br /> · Clerk of Cou~il <br /> <br /> Hayor <br /> <br /> <br />