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-2- <br /> <br /> Section 8. That nursuant to Section 3 of Article XIV of the <br />Charter of the City of L~£KeQood, the Director of Finance of this City be and <br />he is hereby authorized and directed to pre,are ~nd file with this Council <br />the estimated assessments of the cost of the improvement described in this <br />resolution. %',%eh such estimated assessments have been so filed, said Director <br />of Finance shall cause notice of the adoption of this resolutien and the <br />filin6 of said estimated assessments to ~e served on the owners of all lots <br />~nd lands to be assessed as provided in Section 4 of said Article XIV. <br /> <br /> Section 9. ~,.at the assess~aents to be levied shall be paid in ten <br />(10) semi-annual instalLments~ with interest on deferred payments at the same <br />re.re as shall be borne by the bonds to be issued in anticipation of the <br />collection thereof ~hich is now estimated at three and three-euarters~ per <br />cent~m per ann~n, provided, that the o%~er of any property assessed m~,y, at <br />his option, ~ay such assessment in cash within thirty days after passage of <br />the assessing ordinance. <br /> <br /> Section 10. That bonds of the City shall be issued in mnticipation <br />of the collection of assessments by inst~l!ments and in an amount e~uat thereto <br />and notes of said City shall be i~sued in anticpation of the issuance of such <br />~onds and the levy of such assessments. <br /> <br /> Section 11. That the remainder of the entire cost of said i~rove- <br />ment~ after application of the assessments herein provided, shall be pa{d by <br />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 i~ediately <br />a~te~ it~passage and approvaI by the !!a~or <br /> <br />Clerk or,Council <br /> <br />/ Mayor <br /> <br /> <br />