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RESOLUTION RELATING TO SANITARY SEI-JER NO. 497 IMPROVEMENT NO. 3 AND ProVIDING GENERAL TAX LEVIES THEREFOR BE IT RESOLVED by the Village Council of the Village of I~seville, as follows: 1. The total cost of the completion of Sanitary Sewer Improvement No. 3 in accordance with the plans and specifications heretofore approved, and the contracts heretofore entered into therefor, has now been ascertained to be approx- imately Two Million Three Hundred Seventy-one Thousand Five Hundred Eighty-six and 31/100 Dollars (2,371,586.31) of which the sum of $2,000,000 has been borrowed by the issuance of Sanitary Sewer Improvement Bonds, Series G dated June 1, 1960, and Series H dated October 1, 1960. The remainder of such cost has been or will be paid out of funds on hand and properly available therefor, incl- uding proceeds of any other improvement bonds in excess of the cost of any previous improvement as finally ascertained, including sums, contributions and revenues from any other source. Included in said total cost figure are sums representing interest accrued on the money borrowed for said improvement which interest is a necessary cost of said improvement, proper to be included in special assessments and taxes levied therefor. The Village has provided for the payment of not less than $1,908,850.43 of the total cost of Sanitary Sewer Improvement No. 3 by the levy of special assessments upon all properties within the area heretofore determined to be assessable for said improvement in amounts proportionate to and not exceeding the special benefits determined to be derived from said improvement by each of respective properties, which assessments shall be spread upon the tax rolls of the village in each consecutive year commencing in 1961, in 20 equal annual installments, with interest at the rate of 5% per annum on the "balance thereof from time to time remaining unpaid; the first installment to include interest from the date of levy of said special assessments to December 31, 1962,