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Section 6. That the Clerk of this Coucil be and she is hereby <br /> directed to deliver a certified copy of this Resolution to the Director <br /> of Finance of this City. <br /> Section 7. That pursuant to Section 3 of Article XIV of the <br /> <br /> Amended Charter of the City of Lakewood, the Director of Finance <br /> of this City be and he is hereby authorized. and directed to prepare <br /> and file with this Council the estimated assessments of the cost <br /> of the improvement described in this Resolution. When such estimated <br /> assessments have been so filed, said Director of Finance shall cause <br /> notice of the adoption of this Resolution and the filing of said <br /> estimated assessments to be served on the owners of all lots and <br /> lands to be assessed as provided in Section 4 of said Article XIV. <br /> Section 8. That the assessments to be levied shall be paid <br /> in ten (10) semi-annual installments, with interest on deferred <br /> payments at the same rate as shall be borne by the bonds to be issued <br /> in anticipation of the collection thereof which is now estimated <br /> at 6.75 per centum per annum, provided that the owner of any property <br /> assessed may, at his option, pay such assessment in cash within thirty <br /> (30) days after passage of the assessing ordinance. <br /> Section 9. That bonds of the City shall be issued in anticipation <br /> of the collection of assessments by installments and in an amount <br /> equal thereto and notes of said City shall be issued in anticipation <br /> of the issuance of such bonds and the levy of such assessments. <br /> Section 10. That the remainder of the entire cost of said <br /> improvements after application of the assessments herein provided, <br /> shall be paid by the issuance of bonds in the manner provided by <br /> law. <br /> Section 11. That it is found and determined that all formal <br /> actions of Council concerning and relating to the adoption of this <br /> Resolution were adopted in an open meeting of this Council and that <br /> all such deliberations of the Council and of any of its committees <br /> that resulted in such formal actions were in meetings open to the <br /> public in compliance with all legal requirements including Section <br /> 121.22 of the Ohio Revised Code. <br /> Section 12. That this Resolution is hereby declared to be an <br /> emergency measure for the reasons stated in the preamble hereof and <br /> provided it receives the affirmative vote of two-thirds of all membes <br /> elected to Council, it shall take effect and be in force immediately <br /> upon its adoption and approval by the Mayor otherwise, i shall take <br /> effect and be in force after the earliest period allow y la <br /> Adopted : ~~P~ ~9~7 <br /> P e ent <br /> Clerk <br /> ~i i <br /> Approved: ~ .r/G~ y!J <br /> M yor <br /> <br />