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the described local improvement district as set forth on the assessment roll attached as Exhibit C hereto and incorporated herein by reference. Section 4. The City Council does hereby determine that each parcel of land or lot herein above described is specially benefitted to the extent of the assessment set forth. The Finance Officer shall give notice of the assessments to the owners of the assessed parcels advising them the assessment may be paid in full, without interest, within ten days of the effective date of this ordinance. Assessments that remain unpaid after the ten day period are declared to be liens upon the respective lots, parts of lots or parcels of land against which said several amounts are assessed, and may be paid, with interest on the unpaid principal amount commencing ten days after the effective date of this ordinance: 4.1 In up to twenty semi-annual installments, including principal and interest at the rate set by the City Manager as provided in E.C. 2.022 through 2.024. 4.2 If the property owner so elects, in 120 monthly installments, including principal and interest at the rate set by the City Manager as provided in E.C. 2.022 through 2.024 plus a service charge determined by the City Manager as provided in E.C. 2.020. Section 5. The City Recorder is directed to enter in the docket of City Liens a statement in connection with each unpaid assessment containing the following: 5.1 A description of each lot, part of lot or acreage specially benefitted by the local improvement; 5.2 The name of the owner or reputed owner thereof, or that the name of the owner is unknown; and 5.3 The sum assessed upon said property, the amount and date from which interest accrues, Ordinance - 3 Q 5PROJECTSkPROJ-8\4058kAS SESS\ORDINANC E.wpd City Council Agenda page 179