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-2- <br /> <br /> Section 8. That pursuant to Sectio~ 3 of Article XIV of the <br />Charter of the City of Lakewood~ the Director of Finance of this City be <br />he is hereby authorized and directed to pre.are and file with this Council <br />the estimated assessments of the cost of the improvement described in this <br />resolution. %~en 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. ~nat the assessments to be levied shall be paid in ten <br />(10) semi-annual installments, with interest on deferred payments at the same <br />rate as shall be borne by the bonds to be issued in anticioation of the <br />collection thereof which is now estimated at three and thr~e-euarters per <br />centum per ann~m~ provided~ that the o~er of any property assessed may, at <br />his option, pay such assessment in cash within thirty days after passage of <br />the assessing ordinance. <br /> <br /> Section 10. That bonds of the City sh~ll be issued in anticipation <br />of the collection of assessments by installments and in an amount e~ual thereto <br />and notes of said City sh~ll be issued in anticpation 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 ihorove- <br />ment, after application of the assessments herein provided, shall be pa~d by <br />the ~ suance 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 ~nd immediately <br />afte~ its passage and approval by the H~yor. <br /> <br />Adopted: ~ ~!~/?/ <br /> <br />Approved: <br /> <br />Clerk or,Council <br /> <br /> <br />