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Section 7. That pursuant to Section 3 of Artide XV[ of the second Amended <br />Charter of the C~ of Lakewood, the Director of Finance of this C~/be and is hereby <br />authorized and directed to prepare and file with this Coundl the estimated assessments <br />of the cost of the improvement described in this Resolution. When such estimated <br />assessments have been so filed, said Director of Finance shall cause notice of the <br />adoption of this Resolution and the filing of said estimated assessments as provided in <br />Section 4 of said Artide XV[. <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 shall <br />be borne by the bonds to be issued in antidpation of the collection thereof which is now <br />estimated at 2.5 per cent (2.5%) per annum, provided that the owner of any property <br />assessed may, at their option, pay such assessment in cash within thirty (30) days after <br />receipt of the City's invoice. <br /> <br /> Section 9. That bonds of the City shall be issued in antidpation of the collection <br />of assessments by installments and in an amount equal thereto. <br /> <br /> Section 10, That the remainder of the entire cost of said improvements after <br />application of the assessments herein provided, shall be paid by the issuance of bonds <br />in the manner provided by law. <br /> <br /> Section 11. It is found and determined that all formal actions of this Coundl <br />concerning and relating to the passage of this resolution were adopted in an open <br />meeting of this Coundl, and that all such deliberations of this Coundl and of any of its <br />committees that resulted in such formal action were in meetings open to the public in <br />compliance with all legal requirements. <br /> <br />President of Council <br /> <br /> <br />