5471 - Laserfiche WebLink

Home Browse Search

after date of issue, with interest thereon at, the rate of Eight (8) per centum per annum from maturity until paid and. the remaining installments, at consecu- tive one 0) year intervals thereafter, not to exceed ten (10) installments with interest_ thereon at the rate of Eight (8) per centum per annum beginning thirty (30) days after date of issue. Every such certified tax bill shall, on action brought to recover the amount due thereon, be prima facie evidence of the validity of the charges against the property therein described and all matters recited in said bill. At the option of the contractor, the City will buy said special tax- bills at par, any time within thirty (30) days after the date of issue. Section 5. The Director of Finance when delivering the said tax bills in the amount of THIRTEEN THOUSAND SEVEN HUNDRED FORTY EIGHT and 57/100 DOLLARS ($13,748.57) to R & E Asphalt Service, Inc,, shall require it to reim- burse the City of University City, in cash., the amount of SIX THOUSAND SEVEN HUNDRED FORTY FIVE and 77/100 ($6,745.77) which was advanced by the City out Of its ..Gener.al Revenue Fund for the cost to the City for engineering and other City expenses in connection with the work which amount has been added to the contract price and. which also- becomes a part. of the "Whole Cost." The City's portion of the "Whole Cost" which is FORTY NINE THOUSAND TWO HUNDRED ELEVEN and 92/100 DOLLARS ($49,211.92) shall be paid out of available City funds, to R & E Asphalt Service, Inc. Section 6. Where the word "Lot" appears in this ordinance, it shall be understood to mean a whole lot or any fractional part thereof. Section 7. This Ordinance shall take effect and be in force from and after its passage, as provided by law. - PASSED this 11th day of March 1985. ATTEST: MAYOR ii CITY CLERK CERTIFIED TO BE CORRECT AS TO FORM: DIREC OF LAW 7