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by ordinance under the mode of "payment by bonds," as defined by law and the ordinances of <br /> the City. The exact form, amount, date, interest rate and denominations of such bonds hereafter <br /> shall be fixed by ordinance of the City Council. Such bonds shall be sold in such manner as the <br /> City Council hereafter shall determine. <br /> Section 6: <br /> In all cases where the work necessary to be done in connection with the making of the <br /> Improvements is carried out pursuant to contract upon competitive bids (and the City shall have <br /> and reserves the right to reject any and all bids), the call for bids shall include a statement that <br /> payment for such work will be made in cash warrants drawn upon the Local Improvement Fund. <br /> Section 7: The Local Improvement Fund for the District is created and established in the office <br /> of the Director of Finance and Budget. The proceeds from the sale of revenue warrants or other <br /> short-term obligations drawn against the fund which may be issued and sold by the City and the <br /> collections of special assessments, interest and penalties thereon shall be deposited in the Local <br /> Improvement Fund. Cash warrants to the contractor or contractors in payment for the work to <br /> be done by them in connection with the Improvements and cash warrants in payment for all <br /> other items of expense in connection with the Improvements shall be issued against the Local <br /> Improvement Fund. <br /> Section 8: <br /> Within 15 days of the passage of this ordinance there shall be filed with the City Treasurer the <br /> title of the improvement and District number, a copy of the diagram or print showing the <br /> boundaries of the District and the preliminary assessment roll or abstract of such roll showing <br /> thereon the lots, tracts and parcels of land that will be specially benefited thereby and the <br /> estimated cost and expense of such improvement to be borne by each lot, tract or parcel of land. <br /> The City Treasurer immediately shall post the proposed assessment roll upon her index of local <br /> improvement assessments against the properties affected by the local improvement. <br /> Section 9: <br /> If any provision of this ordinance shall be declared unconstitutional or invalid by any court of <br /> competent jurisdiction, it shall be conclusively presumed that this ordinance would have been <br /> 0169777.01 <br /> 4 <br />