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lO~ It is hereby determined that no less than $ 250,000 or the' cost of' improvements shall be paid by special assessments to be levied against every assessable lot, piece and parcel of land benefited by s~id improvements. Said amount is not.less than 20% of the cost of the improve- ments to the City withi~ the meaning of Minnesota Statutes, Section 475.58, Subdivision 1(3). The City hereby covenants and agrees that it will do and perform as soon as they may be done, all acts and things necessary for the final and valid levy of such special assessments~ and in the event that any such assessment be at any time held invalid with respect to any lot~ piece or parcel of land due to any error, defect, or irregularity, in any action or proce~dingstaken or to be taken by the City or this Councilor any or the City officers or employee~, either in the making or such assessments or in the performance of any condition precedent thereto~ the City a,nd this Council will forthwith do all such further acts and take all such further proceedings as may be required by law to make such assessments a valid and binding lien upon such property. Said assessments shall be payable in equal, consecutive, annual installments~ with general taxes for the years shm'fn below and with interest on the deferred balance of all such assessments at the rate of 8.~ % per annum: Improvement Designation Amount Lev~ Years - 73-13 . 73-14 . 3,062.20 1'7. - 1"3 72-15 2,'50.00 197. - 1.,3 73-18 1,08'.llIO 197. - 1912 73-22 -.'3.32 1.7. - 1"3 73-1' .. 73-20 6,2,75.34 1". - 1"3 73-23 527.75 197. - 1113 73-21 10,551.1' 1'74 - 1"3 ,4-" ) ( ) ( " ) 7+-10 ) ( '''.36) (1'74 - 1"3) 74-11 ) ( ) ( ) 73-25 IIot. Y.~ .......ed 1,751.07 lat.. 1'" - 19M / 11. To provide moneys for the payment or said principal and interest there is hereby levied upon all or the taxable property in the City a direct annual ad valorem tax which shall be spread upon the tax rolls and collected ... with and as part or, other general property taxes in said City for the years and in the amounts as follows: -7-