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Section 8. That pursuant to Section 3 of Article ]{IV of the <br />Charter of thc City of Lakewood, thc Director of Finance of this City be and <br />he is hereby authorized and directed to prepare and file uith this Council <br />6he estimated assessments of the cost of the improvement described in this <br />resolution. When such estimntcd assessments have been so fllcd, said Director <br />of Fino31ce shall cause notice of the adoption of this resolution and the <br />filing of said estimated assessments to be servea on the et'nets of all lots <br />and lands to be assessed as provided in Section h of said Article XIV. <br /> <br /> Section 9. That the~asscssments to be levied shall be paid in ten <br />(10) semi-annual installments, with interest on deferred pa.~ments at the same <br />rate as shall be borne by the bonds to be issued in 0~nticipation of the <br />collection thereof which is nov estimated at six and one-quarter per <br />cent~ per annu~, providcd~ that the owner of o_ny property assessed ma'y, 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 ~nticipation. <br />of the collection of assessments by installments and in an amount cqu~l thereto <br />and notes of said City shall be issued in anticpation of the issuance of such <br />bonds an~ the levy. of such assessments. <br /> <br /> Section 11. T~t the remainder of the entire cost of said improve- <br />ment, after application o~thc assessments herein provided, shall be paid by <br />~he issuance of bonds in t~he 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 />~fter its passage and approval by the Mayor. <br /> <br />Adopted: <br /> <br />Approved <br /> <br />Vice Presi~e~of~il <br /> Mayor <br /> <br /> <br />