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Section 6. The tax bill portion of this . improvement, which is THIRTEEN THOUSAND EIGHT HUNDRED. EIGHTY AND. 39./.100 _DOLLARS ($13,880.79), shall be levied as a special assessment or .tax ;. .against,a. benefit district which shall consist of. all lots and , par.cels..of :- land fronting or abutting the improvement in the name or names of the respec.tive. owner or owners thereof, on each side. of..sai.d street within. the .limits described-in Section One hereof, in the amount. of. ELEVEN AND. .NO/100 DOLLARS _($11..00) per linear foot of all lots or parcels of land fronting on the improvement. Section 7. 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 .matur.e 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 (30) days after .the date of issue, and the remaining..installments at consecu- tive. one ( 1) year intervals thereafter. All tax bills shall bear interest at the rate of eight (8) 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 8. The City of -.University City_.shall pay the balance of the "Whole Cost''. of the improvement which is estimated to be approximately t THIRTY EIGHT THOUSAND ONE_HUNDRED.. NINET.Y NINE,.AND.-21/.100 DOLLARS ($38, 199.21), out of available .City funds. Section 9. If for any. reason no bids .ar.e..received, or if the bids received are rejected, the City Council may by res.olution or motion, direct the City Clerk to readvertise for bids as. provided for in this ordinance. Section 10. This Ordinance shall take effect and be in force from and after its passage, as provided by law. PASSED this 21st day of Mav 1984. Mayor ATTEST: CITY CLERK CERTIFIED TO BE CORRECT AS TO FORM: CIT TORNEY 3