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-2- <br /> <br /> Section 8. That pursuant to Section B of Article XIV of the Charter <br />of the City of Lakewood, the Director of Finance of this City be and he <br />is hereby authorized and directed to prepare and file with this Council <br />the estimated assessments of the cost of the improvement described in this <br />resolution. 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 h of said Article XIV. <br /> <br /> Section 9. That the assessments to be levied shall be paid in <br />ten (10) semi-annual installments, with interest on deferred payments at <br />the same rate as shall be borne by the bonds to be issued in anticipation <br />of the collection thereof which is now estimated at six and one-haif <br />per centum per annum, provided, that the owner of any property assessea <br />may, at his option, pay such assessment in cash within thirty days after <br />passage of the assessing ordinance. <br /> <br /> Section 10, That bonds of the City shall be issued in anticipation <br />of the collection of assessments by installments and in an ~nount equal thereto <br />and notes of said City shall be issued in anticpation of the issuance of <br />such bonds and the levy of such assessments. <br /> <br /> Section ll. That the remainder of the entire cost of said imorove- <br />merit, after application of the assessments herein provided, shall be pa~d <br />by the issuance of bonds in the manner provided by law. <br /> <br /> Section 12. This resolution, having been determined to be an <br />emergency measure, shall be in full force and effect from and immediately <br />after its passage and approval by the Mayor. <br /> <br />President of Council/ <br /> <br />Clerk of Council <br /> <br />Mayor <br /> <br /> <br />