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2. Such assessment shall be payable in equal annual installments extending over a <br />period of ten years, the first of the installments to be payable on or before the first <br />Monday in January, 2002 and shall bear installment at the rate of 6.75 percent per annum <br />from the date of the adoption of this assessment resolution. To the first installment shall <br />be added interest on the entire assessment from the date of this resolution until December <br />31, 2001. To each subsequent installment when due shall be added interest for one year <br />on all unpaid installments. <br />3. The owner of any property so assessed may at any time prior to certification of <br />the assessment to the County Auditor, pay the whole of the assessment on such property, <br />with interest accrued to the date of payment, to the City Treasurer, except that no interest <br />shall be charged if the entire assessment is paid within 30 days from the adoption of this <br />resolution; and he may, at any time thereafter, pay to the County Treasurer the entire <br />amount of the assessment remaining unpaid, with interest accrued to December 31 of the <br />year in which such payment is made. Such payment must be made before November <br />15th or interest will be charged through December 31 of the next succeeding year. <br />4. The City Administrator shall forthwith transmit a certified duplicate of this <br />assessment to the County Auditor to be extended on the property tax lists of the County. <br />Such assessments shall be collected and paid over in the same manner as other municipal <br />taxes. <br />The motion for the adoption of the foregoing resolution was seconded by Council <br />Member and upon vote taken thereon, the following voted in favor thereof: <br />and the following voted against the same: None. <br />Whereupon said resolution was declared and duly passed and adopted. <br />Page 5 <br />