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In case the improvement is made on the bond installment plan, the city treasurer shall, at the expiration of 30 days after the first publication of the notice to pay assessment, report to the city council the amount collected by him upon the said roll and shall specify in said report the amount remaining unpaid upon the said roll, and the city council may then, or at a subsequent meeting, by ordinance, direct the mayor and city clerk to issue the bonds on the local improvement district established by the ordinance ordering the improvement in an amount equal to the amount remaining unpaid on said assessment. Said ordinance shall specify the denomination of the bonds which, except for bond numbered “One,” shall be in multiples of $100.00 each. (Ord. 5884 § 2, 2009.)