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Page 2 of 2 <br /> <br />labor and material, interest on bonds and notes issued in anticipation of the levy <br />and collection of the special assessments together with all other necessary <br />expenditures. Such amount being hereby determined to be equal to the special <br />benefit derived by lands so abounding and abutting these improvements. <br /> <br /> Section 6. That the Clerk of this Council be and she is hereby directed to <br />deliver a certified copy of this resolution to the Director of Finan. ce 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 and is <br />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 of <br />said estimated assessments as provided in Section 14 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 as <br />shall be borne by the bonds to be issued in anticipation of the collection thereof <br />which is now estimated at 7 per cent (7%) per annum, provided that the owner of <br />any property assessed may, at their option, pay such assessment in cash within <br />thirty (30) days after receipt of the City's invoice. <br /> <br /> Section 9. That bonds of the City shall be issued in anticipation of the <br />collection of assessments by installments an d in an amount equal thereto. <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 11. It is found and determined that all formal actions of this <br />Council concerning and relating to the passage of this resolution were adopted in <br />an open meeting of this Council, and that all such deliberations of this Council <br />and of any of its committees that resulted in such formal action were in meetings <br />open.to the public in compliance with all legal requirements. <br /> <br />Adopted:C'~(d~ // 20'-~ <br /> <br />President of Council <br /> <br />Approved: !-/~-~'i 'L\ ~Lz/~v <br /> <br /> <br />