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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 <br />of this City. <br /> <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 <br />and he is hereby authorized and directed to prepare and file with 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 the adoption of this Resolution and the <br />filing of said estimated assessments to be served on the owners of all lots <br />and lands to be assessed as provided in Section 4 of said Article XIV. <br /> <br /> Section 8. That the assessments to be levied shall be paid in ten (10) <br />semiannual installments, with interest on deferred payments at the same rate <br />as shall be borne by the bonds to be issued in anticipation of the collection <br />thereof which is now estimated at 7 per centum (7%) per annum, provided that <br />the owner of any property assessed may, at his option, pay such assessment <br />in cash within thirty (30) days after passage of the assessing ordinance. <br /> <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 /> <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 <br />issuance of bonds in the manner provided by law. <br /> <br /> Section ll. That it is found and determined that all formal actions <br />of Council concerning and relating to the passage of this Resolution were <br />adopted in an open meeting of this Council and that all such deliberations <br />of the Council and of any of its committees that resulted in such formal <br />actions were in meetings open to the public, in compliance with all legal <br />requirements. <br /> <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 <br />shall take effect and be in force immediately upon its adoption and approval <br />by the Mayor; otherwise it shall take effect and be in force after the earliest <br />period allowed by law. <br /> <br />Adopted: <br /> <br />Approved: ~ ~/~ "~, ] /~ ¢// <br /> <br />Mayor ~v~ <br /> <br /> <br />