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Section 8. That pursuant to Section 3 of Article XIV of the <br />Charter of thc City of Lake'~ood, the Director of Finance of this City t,e and <br />he is hereby authorized and directed %o prepare and file uith 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 thc adoption of this resolution nnd the <br />filing of said estimated assessments to be served On the et'nets of ell lots . <br />and lands to be assessed as provided in Section h of said Article XIV. <br /> <br /> Section 9. That theZassessments to be levied shall be paid in ten <br />(lO) ~ ' <br /> ~eml-annual installments, ~ith ~nterest on deferred pa,~ments at the s~ne <br />rate as shall be borne by the bonds to be issued in anticipation of the <br />collection thereof which is nee estimated at six and one-quarter per <br />eent~ per annum, provided, that the o~ner of any property assessed may, at <br />his op~ion, pay such assessmen~ in cash within thirty days after passage of <br />~he assessing ordinance. <br /> <br /> Section 10. That bonds of the City shall be issued in ~ticipation, <br />of the collection of assessments by installments and in an s3nount eou8_l thereto <br />and notes of said City shall be issued in anticpation of the issuance of such <br />bonds ~nd the levy, of such assessments. <br /> <br /> Section 11. T~a,% the remainder of the entire cost of said improve- <br />ment, after application o~the assessments herein provided, shall be paid by <br />the issuance of bonds in t'ne 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 />after its passage and approval by the Mayor. <br /> <br />Adopted: <br /> <br />Approved <br /> <br />Clerk of C~cil <br /> <br /> Mayor <br /> <br /> <br />