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LAWS OF FLORIDA 2205 <br /> street be less than the frontage of the lot on the principal street, <br /> and such reduction so made in such assessments shall be paid out <br /> of the general fund of said City, or in any other lawful manner <br /> that may be provided by the City Council. <br /> Section 73. The City Council of the City of Vero Beach may, <br /> pursuant to the poser herein vested in it, by ordinance provide <br /> for the consolidation of all assessments for local improvements <br /> heretofore made. The Council is hereby authorized to provide <br /> that such assessments, after adjustments as hereinbefore provided, <br /> sliall be and become payable in fifteen annual payments of ten <br /> per cent each and a sixteenth payment of 7.311 per cent, payments <br /> to cover both principal and interest in accordance with the fol- <br /> lowing table: <br /> $1,000 ASSESSMENT. <br /> Payments Outstanding Interest Principal Total <br /> 1st . .. .. ...... .. ... $11000.00 $60.00 $40.00 $100.00 <br /> 2nd . . .. .. .... . .. .. 960.00 57.60 42.40 100.00 <br /> 3rd . . . . . ... ... ... .. 917.60 55.06 44.94 100.00 <br /> 4th . . .. ... ....... .. 872.66 52.36 47.64 100.00 <br /> 5th . ... .... ... ... .. 825.02 49.50 50.50 100.00 <br /> 6th . ... .. ...... ... . 774.52 46.47 53.53 100.00 <br /> 7th . . .. . .. ... .. . ... 720.99 43.26 56.74 100.00 <br /> 8th . . .. . .. ..... . . .. 664.25 39.86 60.14 100.00 <br /> 9th . ... .... ........ 604.11 36.25 63.75 100.00 <br /> 10th ... . ... .. ....... 540.36 32.42 67.58 100.00 <br /> 11th 472.78 28.37 71.63 100.00 <br /> 12th . .. .. .. .. .. ... . . 401.15 24.07 75.93 100.00 <br /> 13th . . ... . ... .... ... 325.22 19.51 80.49 100.00 <br /> 14th . . . .. .. .. .. .. .. . 244.73 14.68 85.32 100.00 <br /> 15th . . . . . . . ..... .. .. 159.41 9.56 90.44 100.00 <br /> 16th . .. .. ...... . .. . 68.97 4.14 68.97 73.11 <br /> Section 74. The City Council shall further provide in the <br /> consolidation of said assessments that all delinquent interest on <br /> assessments to the date of the passage of such ordinance con- <br /> solidating said assessments be computed and added to the principal <br /> sum and that the interest rate on deferred instalments, starting <br /> from the date the consolidated plan is put into effect, shall be <br /> six per cent per annum where assessments are paid to date; but <br /> continue at eight per cent per annum as long.as payments are in <br /> arrears. <br /> Baa <br />