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NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF UNIVERSITY CITY, MISSOURI, AS FOLLOWS: Section 1. The City Council determines and finds that the public improvement of 6319 Delmar Boulevard, in University City, Missouri, by the construction of a motor Vehicle parking facility there, has been completed, and that the whole cost of the improvement is approximately Two Million Three Hundred and Seventy-Five Thousand Dollars ($2,375,000). Section 2. A special assessment or tax in the amount of seventy Cents ($.70) per square foot of ground floor area is hereby levied and assessed against the following lots and parcels of land in the benefit district, in the name(s) of the owner(s): 6265-6277, 6301,6307-6309, 6310-6318, 6315, 6329-6335, 6346-6370, 6372-6380, 6388-6394, 6500-6510, 6501-6525, 6600-6608, 6605 and 6610 Delmar Boulevard, in University City, Missouri. The ground floor area and total assessment or tax for each property is listed in the attached document marked Exhibit "A" and made a part hereof. The total cost to the property owners is approximately seventy Thousand Dollars ($70,000). Section 3. The Director of Finance is hereby directed to issue special tax bills in said amounts to the property owners. One-half (1/2) of each individual special tax bill shall become due and payable sixty (60) days after the date of issue, five-fourteenths (5/14) shall become due and payable one (1) year and sixty (60) days after the date of issue, and the remaining one-seventh (1/7) shall become due and payable two (2) years and sixty (60) days after the date of issue; provided that at the request of the property owner, a special tax bill may be paid in annual installments, not to exceed ten (10), beginning on the date of maturity. The special tax bills shall bear interest at the rate of eight percent (8%) per annum from maturity until paid, regardless of whether paid in annual installments. Section 4. Every special tax bill shall be a first lien upon the property charged therewith, from the date of issuance until paid. Section 5. The Two Million Three Hundred Five Thousand Dollar ($2,305,000) balance of the whole cost shall be paid out of available City Funds. Section 6. provided by law. PASSED this This ordinance shall take effect and be in force from and after its passage as AyIBEST: l) - "~ CITY CLEi~~ day of !~_l-O_~ , 1998. CERTIFJ~EI~ 3~ BE C~O~RRECT,AS TO FORM: