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-2- <br /> <br /> Section 8. That pursuant to Section 3 of Article XIV of the <br />Charter of the City of Lakewood, the Director of Finance of this City be and <br />he is hereby authorized and directed to prepare ~nd 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 ovners of all lots <br />and lands to be assessed as provided in Section ~ of said Article XIV, <br /> <br /> Section 9. That the assessments to be levied shall be paid in ten <br />(10) semi-annual installments, with interest on deferred pa,~uents at the same <br />rate as shall be borne by the bonds to be issued in anticipation of the <br />collection thereof which is now estimated at three ~nd three-quarters per <br />centum per annum, provided, that the owner 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 shall be issued in anticipation <br />of the collection of assessments by installments and in an ~mount equal thereto <br />and notes of said City shall 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 improve, <br />ment, after application of the assessments herein provided, shall be paid 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 immediately <br />after its passage and approval by the Mayor. <br />Adopted: ~~ <br />Approved: <br /> <br /> Ma~or <br /> <br /> <br />