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1% in excess of the net effective interest rate on such bonds , <br /> such rate to be fixed hereafter by ordinance . The first <br /> installment of assessments on the assessment roll shall become <br /> due and payable during the thirty-day period succeeding the date <br /> one years-after the date of first publication by the City <br /> Treasurer of notice that the assessment roll is in his hands for <br /> collection and annually thereafter each succeeding installment <br /> shall become due and payable in like manner . If the whole or <br /> any portion of the assessment remains unpaid after the first <br /> thirty-day period, interest upon the whole unpaid sum shall be <br /> charged at the rate as determined above, and each year there- <br /> after one of the installments, together with interest due on the <br /> unpaid balance, shall be collected. Any installment not paid <br /> prior to expiration of the thirty-day period during which such <br /> installment is due and payable shall thereupon become delin- <br /> quent. All delinquent installments shall be subject to a charge <br /> for interest at the rate as determined above and for an addi- <br /> tional charge of 12% penalty levied upon both principal and <br /> interest due upon such installment or installments. The collec- <br /> tion of such delinquent installments shall be enforced in the <br /> manner provided by law. <br /> PASSED by the City Council and APPROVED by the Mayor of the <br /> City of Everett, Washington, at a regular open public meeting <br /> thereof, this day of February, 1983 . <br /> Mayor <br /> ATTEST: <br /> City Clerk <br /> APP-ROW-D--.-AS--T-O FORM: <br /> j7H sse-0 ', < -9 3' <br /> .-Po : <br /> C i.t y--.-A-tt ar ieY <br /> - 3 - <br />