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CITY OF NORTH OT~MSTED Resolution No. 64-153 Page 2 bonds and notes issued in anticipation of the levy and collection of the special assessments together with all other necessary expenditures. Section 6: That the Director of Finance of this city be and he is hereby authorized and directed to prepare and file in the off ice of the Clerk of this Council the estimated assessments of the cost of the improvement describEd in this Resolution. Such estimated assessments shall be based upon the estimate of cost of said improvement now on file in the off ice of the Clerk of this Council and shall be prepared pursuant to the provisions of this Resolution. When such estimated assessments have been so filed, said Clerk shall cause notice of the adoption of this Resolution and the f fling of said estimated assessments to be served on the owners of all lots and lands to be assessed as provided in RC Section 727.13. Section 7: That the assessments to be levied shall be paid in five (5) annual installments, with interest on deferred payments at the same rate as shall be borne by the bonds to be issued in anticipation of the col- lection thereof; provided, that the owner of any property assessed may, at his option, pay such assesament in cash within thirty (30) days after passage of the assessing ordinance. Section 8: That bonds°of,-the City-shall be issued in anticipa- tion 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 9: This resolution is hereby delcared to be an emergency measure necessary for the immediate preservation of the public peace, health and safety of said City, and for the further reason that the immediate construction of said improvement is necessary to eliminate existing hazards to pedestrian and vehicular traff is of the abutting owners and the inhabitants of the City; WHEREFORE, this resolution shall be in full force and effect from and imme- diately after its passage. PASSED: July 7, 1964 Francis J. O'Neil resident of Council ATTEST: ~~ Margaret T West, erk o Council APPROVED: a Ralph Christman, Mayor