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-2 - <br /> <br /> Section 7. That the Clerk of this Council be and he is hereby directed <br />to deliver a certified copy of this resolution to the DirectOr of Finance of <br />this City. <br /> <br /> Section 8. That pursuant to Section 3 of Article XIV of the Charter <br />of the City of Lakewood, the Director of Finance of this City be and he is <br />hereby authorized and directed to prepare and file with this Council the <br />estimated assessments of the cost of the improvement described in this re- <br />solution, When such estimated assessments have been so filed, said Director <br />of Finance shall cause notice of the adoption of this resolution and the <br />filing of said estimated assessments to be served on the owners of all lots <br />and lands to be assessed as provided in Section 4 of said Article XIV. <br /> <br /> Section 9. That the assessments to be levied shall be paid in ten (i0) <br />semi-annual installments, with interest on deferred payments at the same rate <br />as shall be borne by the bonds to be issued in anticipation of the collection <br />thereof whiCh is now estimated at three and three-quarters per centum per <br />annum; provided, that the owner of any property assessed may~ at his option~ <br />pay such assessment in cash within thirty days after passage of the assessing <br />ordinance. <br /> <br /> Section 10. That bonds of the City shall be issued in anticipation of <br />the collection of assessments by installments end in an amount equal thereto <br />and notes of said City shall be issued in anticipation of the issuance of <br />such bonds and the levy of such assessments. <br /> <br /> Section 11. That the remainder of the entire cost of said improvement, <br />after application of the assessments herein provided~ shall be paid by the <br />issuance of bonds in the manner provided by law. <br /> <br /> Section 12. This resolution, having been determined to be an emer- <br />gency measure, shall be in full force and effect from and immediately after <br />its passage and approval by the Mayor~ <br /> <br />Adopted: February <br /> <br />Robert M. Lawthe~ <br /> President of Council <br /> <br />Approved: February 20, 1962 <br /> <br />Philip M. Dearborn <br /> Clerk of Council <br /> <br />Frank p. Celeste <br /> <br />Mayor <br /> <br /> <br />