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Sectian 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 Finance Officer <br />shall give notice of the assessments to the owners of the assessed <br />parcels advising them the assessment may be paid in full, without <br />interest, within ten days of the effective date of this ordinance. <br />Assessments that remain unpaid after the ten day period are <br />declared to be liens upon the respective lots, parts of lots or <br />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.Q22 through 2.24. <br />4.2 If the property owner so elects, in 120 monthly install- <br />ments, including principal and interest at the rate set by the City <br />Manager as provided in E.C. 2.Q22 through 2.424 plus a service <br />charge to be determined by the City Manager as provided in E.C. <br />2.42. <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 following: <br />5.1 A description of each lat, part of lot ar acreage <br />specially 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 ~ 3 <br />