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-2- <br /> <br /> Section 7. That the Clerk of this Council be ~d she 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 of <br />the City of Lakewood~ the Director of Finance of this City be and he is hereby <br />authorized and directed to prepare and file with this Council the estimated <br />assessments of the cost of the improvement described in this resolution. When <br />such estimated assessments have been so filed~ said Director of Finance shall <br />cause notice of the adoption of this resolution and the filing of said estimated <br />assessments to be served on the owners of all lots and lands to be assessed <br />as provided in Section 4 of said Article XIV. <br /> <br /> Section 9. That the assessments to be levied shall be paid in ten (10) <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 centumper annum~ <br />provided~ that the owner of e~y property assessed may~ at his option, pay such <br />assessment in cash within thirty days after passage of the assessing ordinance. <br /> <br /> Section 10. That bonds of the City shall be issued in anticipation of <br />the collection of assessments by installments and in an amount equal thereto <br />and notes of said City sh~ll be issued in anticipation of the issuance of such <br />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 resolutions having been determined to be an emergency <br />measure, shall be in full force ~nd effect from and imediately after its <br />passage and approval by the M~yor. <br /> <br />Adopted: Februarv 20,. 1967 <br />Appr°ved:__Februarv 20. 1~67 ...... <br /> <br />.. Charl.es S. Huffman.,.Jr.. <br /> President of Council <br /> <br />Grace Reynolds <br /> Clerk of Council <br /> <br />Robert M. Lawth~r <br /> Mayor <br /> <br /> <br />