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Section 4. The City Council does hereby determine that each <br />parcel of land or lot hereinabove described is specially benefitted <br />to the extent of the assessment set forth. The ~`inance Officer <br />shall ive notice of the assessments to the owners of the assessed <br />g <br />parcels advising them the assessment may be paid in full, without <br />interest, within ten days of the effective date of this <br />ordinance. Assessments that remain unpaid after the ten day period <br />are declared to be liens upon the respective lots, parts of lots <br />yr parcels of land against which said several amounts are assessed, <br />and may be paid, with interest on -the unpaid principal amount <br />commencing ten days after the effect date of this ordinance: <br />4.1 In up to twenty semi-annual installments, including <br />principal and interest at the rate set by .the City Manager as <br />provided in E.C. 2.022 through 2.024. <br />4.2 If the property owner so elects, in 120 monthly install- <br />ments includin principal and interest at the rate set by the City <br />r g <br />Manager as provided in E.C. 2.022 through 2.024 plus a service <br />charge to be determined by the City Manager as provided in E.C. <br />2.020. <br />section 5, The City Recorder is directed to enter in_the <br />docket of City Liens a statement in connection with each unpaid <br />assessment containing the fallowing: <br />5.1 Acd~ption of each lot, part of lot or acreage specially <br />benefitted by the local improvement; <br />5 , 2 The name of the owner or reputed owner thereof , that the <br />name of the owner is unknown; and <br />oRDINANCE - 4 <br />