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and bond as herein provided within the time limit specified, to wit, ten (10) days, the cashier's or certified check or bid bond so deposited, as herein referred to, shall be forfeited to said City as liquidated damages. The successful bidder will be required to comply with all the laws of the State of Missouri pertaining to wages paid workmen employed on public contracts as well as all other provisions of the law affecting public contracts. Section 5. The "Whole Cost" of the improvement is estimated to be SEVENTY FIVE THOUSAND THIRTY TWO DOLLARS ($75,032.00). Section 6. The tax bill portion of this improvement, which is TWENTY THOUSAND ONE HUNDRED FOURTEEN AND 44/100 DOLLARS ($20,114.44), 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 One hereof, in the amount of FIFTEEN AND 92/100 DOLLARS ($15.92) 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 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 (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 FIFTY FOUR THOUSAND NINE HUNDRED SEVENTEEN AND 56/100 DOLLARS ($54.917.56), out of available City funds. 3