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<br />The Council reserves the right to classify assessments into <br />different terms of maturity so that smaller assessments may be made to <br />mature over a shorter period of time. <br /> <br />Unpaid assessments and the interest thereon, including in <br /> <br />each case a fee to cover the expense of such collection as provided by <br />law together with any fee in connection with the maintenance by the City <br />of a registration system for the bonds, will be collected during the <br />term of the bonds and shall be payable in the same manner and at the <br /> <br /> <br />same time and in the same installments as the general property taxes and <br /> <br /> <br />shall be payable and become delinquent at the same times and in the same <br /> <br /> <br />proportionate amounts and bear the same proportionate penalties and <br />interest after delinquency as do the general taxes on real property. <br />17. Said bonds may be refunded upon determination of the City <br /> <br />Council that the public interest or necessity requires the refunding of <br /> <br />the issue of bonds and the levy of reassessments as security for the <br /> <br />refunding bonds. Such refunding may be undertaken by this Council when, <br />in its opinion, relief may be provided to the owners of the property <br />assessed from extraordinarily high interest rates on said bonds to be <br />refunded. Said refunding bonds shall bear interest at the rate of not <br />to exceed the rate set forth in the resolution of intention to refund <br />the issue of the bonds, the last installment of which said refunding <br />bonds shall mature not to exceed twenty-four (24) years from the second <br />day of September next succeeding twelve (12) months from their date. <br />Any adjustments to assessments resulting from such refunding shall be <br /> <br />done on a pro rata basis. <br /> <br />-6- <br />