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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 (10) semi-annual <br />installments, ~-/th interest on deferred payments at the same rate as <br />shall be borne by the bonds to be issued in anticipation of the collection <br />thereof, provided that the o~mer of any property to be assessed may, <br />at his option, pay such assessment in cash within thirty (30) days after <br />the passage of the assessing ordinance. <br /> <br /> Section 6. That obl/gations of the City shall be issued, in <br />~nttcipation 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 /> <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 Chat 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 <br />hereby authorized and directed as soon as the funds therefor are available <br />to 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 /> <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 />Adopted: <br /> <br /> President of Council / <br />.... Clerk of <br /> <br />Hayor <br /> <br /> <br />