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5.2 The name of the owner or reputed owner thereof, or that the name of the <br />owner is unknown; and <br /> <br /> 5.3 The sum assessed upon said property, the amount and date from which <br />interest accrues, and the date of entering the same in the docket of City Liens. <br /> <br />Section 6 <br /> . Upon enactment of this ordinance, the City Finance Officer shall send notice <br />of the assessments by first class mail to the owners of the assessed parcels containing the <br />information required by EC 7.190 and enclose therewith an application for paying the assessment <br />in installments according to the terms set forth in Section 4 of this ordinance. <br /> <br />Section 7 <br /> . Any assessment remaining unpaid and for which no application for <br />installment payments has been received may be foreclosed as provided by law. The proceeds <br />from the payment or foreclosure of assessments levied by this ordinance shall be deposited to the <br />city funds which advanced the cost of construction, engineering and related expenses or which <br />are used to retire any indebtedness incurred by the City for this improvement. <br /> <br />Section 8 <br /> . An immediate effective date of this Ordinance is necessary to allow the City <br />to begin immediate collection of the assessments that will be used to pay the obligations the City <br />has incurred for this project. Enabling the City to begin collecting assessments will avoid <br />increased interest costs and conserve limited City resources. Therefore, this Ordinance shall <br />become effective immediately upon its passage by the City Council pursuant to Section 32(2) of <br />the Eugene Charter of 2002. <br /> <br />Passed by the City Council this Approved by the Mayor this <br /> <br />_____ day of _____________, 2010 _____ day of ________________, 2010 <br /> <br /> <br /> <br />______________________________ ______________________________ <br /> City Recorder Mayor <br /> <br />Ordinance - Page 3 of 3 <br />