7090-95-A Neccesary to Improve Certain Streets

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Section 6. That the Clerk of this Council be and she is hereby directed to deliver a certified copy of this resolution to the Director of Finance of this City. Section ~7. That pursuant to Section 3 of Article XIV of the Amended Charger of the City of Lakewood, the Director of Finance of this City be and he is hereby authorized and directed to prepare and file with this Council the estimated assessments of the cost of the improvement described in this Resolution. When such estimated assessments have been so filed, said Director of Finance shall cause notice of the adoption of this Resolution and the filing of said estimated assessments to be served on the owners of all lots and lands to be assessed as provided in Section 4 of said Article XIV. Section 8. That the assessments to be levied shall be paid in ten (10) semiannual installments, with interest on deferred pay- ments at the same rate as shall be borne by the bonds to be issued in anticipation of the collection thereof which is now estimated at seven (7%) percent per annum, provided that the owner of any property assessed may, at their option, pay such assessment in cash within thirty (30) days after passage of the assessing ordinance. Section 9. That bonds of the City shall be issued in anticipation of the collection of assessments by installments and in an amount equal thereto and notes of said City shall be issued in anticipation of the issuance of such bonds and the levy of such assessments. Section 10. That the remainder of the entire cost of said improvements after application of the assessments herein provided, shall be paid by the issuance of bonds in the manner provided by law. Section 11. It is found and determined that all formal actions of this Council concerning and relatin~ to the passage of this resolution were adopted in an open meeting of this Council, and that all such deliberations of this Council and of any of its commit- tees that resulted in such formal action were in meetings open to the public in compliance with all legal requirements. Section 12. That this resolution is hereby declared to be an emergency measure for the reasons stated in the preamble hereof and provided it receives the affirmative vote of two-thirds of all members elected to Council, it shall take effect and be in force immediately upon its adoption and approval by the Mayor; otherwise, it shall take effect and be in force after the earliest period al- lowed by law. Adopted: Approved:~l~'k~- J, f'~ )