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Section 3. The "Whole Cost" of the improvement is estimated to be THIRTY SIX THOUSAND FIVE HUNDRED TWENTY FIVE AND 44/100 DOLLARS ($36,525.44). Section 4. The tax bill portion of this improvement, which is SEVEN THOUSAND AND NO /100 DOLLARS ($7,000.00). shall be levied as a special assessment or tax against a benefit district which shall consist of all lots and parcels of land fronting or abutting the improvement in the name or names of the respective owner or owners thereof, on each side of said street within the limits described in Section 1 hereof, in the amount of SIX AND NO /100 DOLLARS ($6.00) per linear foot of all lots or parcels of land fronting on thei mprove- ment and FOUR AND NO /100 DOLLARS ($4.00) per linear foot of all lots or parcels of land having a side or rear line abutting the improve- ment. Section 5. Payment for the cost of said tax bill portion of this improvement shall be made by certified special tax bills in accordance with the provisions of Section 6 of this Ordinance, which shall be issued to the contractor in payment _for doing this work. The said tax bills shall mature and become payable thirty (30) days after the date of issue except those tax bills which are payable in ten (10) annual installments, the first of which shall mature and become payable thirty ( 3 0 ) days after the date of issue, and the remaining installments at consecutive one ( 1 ) year intervals thereafter. All tax bills shall bear interest at the rate of six (6) per centum per annum, beginning thirty (30) days after date of issuance. At the option of the contractor the City will purchase said tax bills at par. Section 6. The City of University City shall pay the balance of the "Whole Cost" of the improvement which is estimated to be approximately TWENTY NINE THOUSAND FIVE HUNDRED TWENTY FIVE AND 44/100 DOLLARS ($29,525.44), out of available City funds. Section 7. If for any reason no bids are received, or if