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of the cost of the sandstone and installation less the city's portion of the cost of a <br />concrete sidewalk Those lots with side yards benefited by any of the said <br />improvements shall be assessed an amount equal to the average for all lots <br />having frontage on the improved portion of the street, plus an amount not to <br />exceed $36 00 per foot for any lot depth in excess of 150 feet The assessments <br />shall cover twenty (20) percent of the actual cost of said improvement, plus <br />aforementioned cost of sandstone sidewalks, less costs which are appropriately <br />attributed to other funds Improvement costs include the cost of preliminary and <br />other surveys, publishing notices, resolutions and ordinances, the amount of <br />damages resulting from the improvement assessed in favor of any owner of land <br />affected by the improvement and the preparation, levy, and collection of the <br />special assessments, the cost of purchasing appropriating, and otherwise <br />acquiring labor and material, interest on bonds and notes issued in anticipation <br />of the levy and collection of the special assessments together with all other <br />necessary expenditures Such amount being hereby determined to be equal to <br />the special b~nefit derived by lands so abounding and abutting these <br />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 Finance of this City <br /> <br /> Section 7 That pursuant to Section 3 of Article XVl of the Second <br />Amended Charter of the City of Lakewood, the Director of Finance of this City be <br />and 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 of <br />said estimated assessments as provided in Section 14 of said Article XVI <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 and in an amount equal thereE) <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 requir/ement~ <br /> <br />Approved' <br /> <br /> <br />