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date of this ordinance: <br /> <br /> 4.1 In up to twenty semi-annual installments, including principal and interest at the rate set <br />by the City Manager as provided in E.C. 2.022 through 2.024. <br /> <br /> 4.2 If the property owner so elects, in 120 monthly installments, including principal and <br />interest at the rate set by the City Manager as provided in E.C. 2~022 through 2.024 plus a service <br />charge determined by the City Manager as provided in E.C. 2.020. <br /> <br /> section 5~ The City Recorder is directed to enter in the docket of City Liens a statement in <br />cormection wi~h each unpaid assessment containing the fbllowing: <br /> <br /> 5.1 A description of each lot, part of lot or acreage specially benefitted by the local <br />improvement; <br /> <br /> 5.2 The name of the owner or reputed owner thereof, or that the name of the owner is <br />unknown; and <br /> <br /> 5.3 The sm assessed upon said property, the amount and date from which interest accrues, <br />and the date of entering the same in the docket of City Liens. <br /> <br /> Section 6. Upon enactment of this ordinance, the City Finance Of~cer shall send notice of <br />the asSessments by first class mail to the owners of the assessed parcels containing the information <br />required by E.C. 7~ 190 and enclose therewith an application for paying the assessment in installments <br />according to the terms set forth in Section 4 of this ordinance. <br /> <br /> seefion 7. Any assessment remaining unpaid and fbr which no application for installment <br />pa~ents has been received may be ~breclosed as provided by law. The proceeds ~¥om the payment <br />or ~breclosure of assessments levied by this ordinance shall be deposited to the city funds which <br />advanced the cost of construction, engineering and related expenses or which are used to retire any <br /> <br />Ordinance ~ 3 <br /> <br /> <br />