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ordinance. Assessments that remain unpaid after the ten day period are declared to be liens upon the <br />respective lots, parts of Tots or parcels of land against which said several amounts are assessed, and <br />may be paid, with interest on the unpaid principal amount commencing ten days after the effective <br />date of this ordinance: <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 />4.2 1f 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 to be determined by the City Manager as provided in E.C. 2.020. <br />Section 5. The City Recorder is directed to enter in the docket of City Liens a statement in <br />connection with each unpaid assessment containing the following: <br />5.1 A description of each lot, part of lot or acreage specially benefitted by the local <br />improvement; <br />5.2 The name of the owner or reputed owner thereof, or that the name of the owner is <br />unknown; and <br />5.3 The sum 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 />Section G. Upon enactment of this ordinance, the City Finance Officer 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. 7.19o and enclose therewith an application for paying the assessment in <br />installments according to the terms set forth in Section 4 of this ordinance. <br />Ordinance - 3 <br />