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of damages resulting from the improvement assessed in favor of any owner of land affected by the improvement and the interest thereon, the costs incurred in connect/on with the preparation, levy and collection of the special assessments, the cost of purchasing, appropriating and otherwise acquiring therefor any required real estate or interests therein, expens- es of legal services including obtaining an approving legal opinion, cost of labor and material and interest on boflds and notes issued in anticipation of the levy and collection of the special assessments together with all other necessary expenditures. Section 5. That the list of estimated assessments as hereto- fore prepared by the Director of Finance be and the same is hereby approved and the assessments so to be levied shall be paid in twenty (20) semi-annual installments, with interest on deferred payments at the same rate as shall be borne by the bonds to be issued in anticipation of the collection thereof, provided that the owner of any property to be assessed may, at his option, pay such assessment in cash within thirty (30) days after the passage of the assessing ordinance. Section 6. That obligations of the City shall be issued, in anticipation of the collection of special assessments by installments and in an amount equal thereto, for the purpose of providing funds to pay the cost of this improvement. Section 7. That the remainder of the entire cost of this im- provement, after application of the assessments herein provided shall be paid by the issuance of notes and bonds of the City in the manner provid- ed b~ law. Section S. That pursuant to Article XIV, Section 16, of the Charter of the City, the birector of Public Works has heretofore certi- fied to this Council that his estimate of the life of the improvement described in Sections 1 and 2 hereof is twenty-five (25) years. -3-