All assessments for local improvements shall be collected by the city treasurer and shall be kept in a separate fund to be known as “Local Improvement Fund, District No. __,” and shall be used for no other purpose than the redemption of warrants drawn upon and bonds issued against the fund to provide payment for the cost and expense of the improvement.

As soon as the assessment roll has been placed in the hands of the city treasurer for collection, he shall publish a notice in the official newspaper of the city for 10 consecutive daily or two consecutive weekly issues, or if there is no official newspaper, in a newspaper of general circulation within the city, that the roll is in his hands for collection and that any assessment may be paid within 30 days from the date of the first publication of the notice without penalty, interest or costs. (Ord. 84 § 9, 1961)