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Section 5. That all installments of said assessments and ali portions thereof, together with interest thereon, shall be applied to the payment of said bonds and interest as the same shall become due and to no other purpose whatsoever. Tn the event that the amount of bonds required to be issued for said improvement shall be reduced by the cash payment by the property owners in accordance with the option included in the assessing ordinance, such reduction shall be accomplished by reducing all of the serial bonds hereinabove provided for so as to retain substantially equal annual maturities. Section 6. The Auditor is hereby directed to have said bonds and coupons properly prepared and executed, to sell the same and to deposit the proceeds in the City treasury to the credit of the ~~laple Ridge Road Sidewalk Improvement :~,und for the purpose of paying the cost of said improvement not heretofore provided to be paid by said City and for which purpose said money is hereby appropriated. Section 7,_ That said fonds shall be first offered at par and accrued interest to the `t'reasurer and Officer in charge of the Sink- ing Fund and if said Treasurer or Officer refuses to take any or all of said 3onds then said bonds not so taken shall be advertised for public sale and sold in the manner provided by law but for not less than the par value and accrued interest. Section $. That this ordinance is hereby declared to be an emergency measure, the emergency being that it is necessary for the immediate preservation of public health, peace, safety and welfare and to pay a note previously issued to raise money for said improve- merit, and shall take effect and be in force from and after the earliest period allowed by law. PASSED; G~~'~ ~ / , 195 e~ ~..; ATTEST: E. Christman, C1.erk of ouncil APPROVED; '/j arence J viatt, Mayor x,. uu. naumggraner, ~,r ,~3 ~~ 1~ / ~3 `k:.,i s. Of liounCil