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Section 8. That pursuant to Section 3 of Article XIV cC the <br />Charter of the City of Lake~ood, the Director of Finance of this City be and <br />he is hereby authorized and directed to prepare and file with this Council <br />the estimated assessments of thc cost of the improvement described in this <br />resolution. When such estimated assessments have been so filed, said Director <br />of Fin~lnce shall cause notice of thc adoption of this resolution and the <br />filing of said estimated assessments to be servea on the o~ncrs of all lots <br />~und l~nds to be assessed as provided in Section h of sa~d 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 payments at the same <br /> rate as shall be borne by the bonds to be issued in m~tieipation of the <br /> collection thereof which is now estimated at six and one-quarter per <br /> cent~ per annum, provided, that the o~ner of any property assessed may, at <br /> his option, pay such assessment in cash within thirty days after passage of <br /> the ~ssessing ordinance. <br /> <br /> Section 10. That bonds of the City shall bo issued in ~nticipatton <br />of the collection of assessments by installments and in an a3nount equ~l thereto <br />and notes of said City shall be issued in anticpation of the issuo~qce of such <br />bonds and the levy. of such assessments. <br /> <br /> Section 11. T~h0.t 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 %'he manner provided by la~. <br /> <br /> Section 12. This resolution, having been determined to be an <br /> emergency measure, shall be in full force s-nd effect from and i~ediately <br /> ~£ter its passage and approval by the Mayor. <br /> <br />Adopted: <br /> <br />Vice PresiRent-o~ ~ <br /> <br />Approved <br /> <br />Mayor <br /> <br /> <br />