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• • • LAWS OF FLORIDA 2205 street be less than the frontage of the lot on the principal street, and such reduction so made in such assessments shall be paid out of the general fund of said City, or in any other lawful manner that may be provided by the City Council. Section 73. The City Council of the City of Vero Beach may, pursuant to the power herein vested in it, by ordinance provide for the consolidation of all assessments for local improvements heretofore made. The Council is hereby authorized to provide that such assessments, after adjustments as hereinbefore provided, shall be and become payable in fifteen annual payments of ten per cent each and a sixteenth payment of 7.311 per cent, payments to cover both principal and interest in accordance with the fol- lowing table : $1,000 ASSESSMENT. Payments Outstanding Interest Principal Total 1st $1,000.00 $60.00 $40.00 $100.00 2nd 960.00 57.60 42.40 100.00 3rd 917.60 55.06 44.94 100.00 4th 872.66 52.36 47.64 100.00 5th 825.02 49.50 50.50 100.00 Gth 774.52 46.47 53.53 100.00 7th 720.99 43.26 56.74 100.00 8th 664.25 39.86 60.14 100.00 9th 604.11 36.25 63.75 100.00 10th 540.36 32.42 67.58 100.00 llth 472.78 28.37 71.63 100.00 12th 401.15 24.07 75.93 100.00 13th 325.22 19.51 80.49 100.00 14th 244.73 14.68 85.32 100.00 15th 159.41 9.56 90.44 100.00 16th 68.97 4.14 68.97 73.11 Section 74. The City Council shall further provide in the consolidation of said assessments that all delinquent interest on assessments to the date of the passage of such ordinance con- solidating said assessments be computed and added to the principal sum and that the interest rate on deferred instalments, starting from the date the consolidated plan is put into effect, shall be six per cent per annum where assessments are paid to date; but continue at eight per cent per annum as long as payments are in arrears. Baa