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1 portion of such assessment can be made at any time within thirty <br /> 2 days from date of first publication of such notice without <br /> 3 penalty, interest or cost , and that thereafter the sum remaining <br /> 4 unpaid may be paid in 10 equal annual installments . The <br /> 5 interest rate thereon is stated to be 8.0 % per annum, with the <br /> 6 exact interest rate to be fixed in the ordinance authorizing the <br /> 7 issuance and sale of local improvement bonds for the District . <br /> 8 The first installment of assessments on the assessment roll <br /> 9 shall become due and payable during the thirty-day period <br /> 10 succeeding the date one year after the date of first publication <br /> 11 by the City Treasurer of notice that the assessment roll is in <br /> 12 his hands for collection and annually thereafter each succeeding <br /> 13 installment shall become due and payable in like manner . If the <br /> 14 whole or any portion of the assessment remains unpaid after the <br /> 15 first thirty-day period, interest upon the whole unpaid sum <br /> 16 shall be charged at the rate as determined above, and each year <br /> 17 thereafter one of the installments , together with interest due <br /> 18 on the unpaid balance, shall be collected. Any installment not <br /> 19 paid prior to expiration of the thirty-day period during which <br /> 20 such installment is due and payable shall thereupon become <br /> 21 delinquent . All delinquent installments shall be subject to a <br /> 22 charge for interest at the rate as determined above and for a <br /> 23 charge of 12% penalty levied upon both principal and interest <br /> 24 due upon such installment or installments . The collection of <br /> 25 <br /> - 4 - <br />