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Section 6. That the Clerk of this Council be and she is hereby directed <br /> to deliver a certified copy of this Resolution to the Director of Finance of this <br /> City. <br /> Section 7. That pursuant to Section 3 of Article XIV of the Amended <br /> Charter of the City of Lakewood, the Director of Finance of this City be and he <br /> is hereby authorized and directed to prepare and file with this Council the <br /> 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 filing <br /> of said estimated assessments to be served on the owners of all lots and lands <br /> to be assessed as provided in Section 4 of said Article XIV. <br /> Section 8. That the assessments to be levied shall be paid in ten (l0) <br /> semi-annual installments, with interest on deferred payments at the same rate as <br /> shall be borne by the bonds to be issued in anticipation of the collection there- <br /> of which is now estimated at g.5`per cent um per annum, provided that the owner <br /> of any property assessed may:, at his option, pay such assessment in cash within <br /> thirty (30) days after passage of the assessing ordinance. <br /> Section 9. That bonds of the City shall be issued in anticipation of <br /> the collection of assessments by installments and in an amount equal thereto <br /> and notes of said City shall be issued in anticipation of the issuance of <br /> such bonds and the levy of such assessments. <br /> Section 10. That the remainder of the entire cost of said improvements <br /> after application of the assessments herein provided,. shall be paid by the issuance <br /> of bonds in the manner provided by law. <br /> Section 11. It is found and determined that all formal actions of <br /> Council concerning and relating to the adoption of this Resolution were adopted <br /> in an open meeting of this Council and that all such deliberations of this <br /> Council and of any of its Committees that resulted in such formal action were <br /> in meetings open to the public in compliance with all legal requirements in- <br /> cluding Section 721.22 of the Ohio Revised Code. <br /> Section 12. That this Resolution is hereby declared to be an emergency <br /> measure for the reasons stated in the preamble hereof and provided it receives <br /> the affirmative vote of two-thirds of all members elected to Council, it shall <br /> take effect and be in force immediately upon its adoption and approval by the <br /> Mayor otherwise, it shall take effect and be in force after the earliest period <br /> allowed by law. <br /> l / y~7 ~ <br /> <br /> Adopted: ~ ( (J y <br /> President <br /> erk <br /> <br /> Approved: ~~'3 Gay. <br /> Mayor <br /> <br />