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4. The tax on machinery and tools used in a manufacturirg or mining business for the City of Portsmouth, Virginia, shall be ~nree ($3.00) Dollars on each one hundred dollars of assessed valuation thereof. 5. (a) The annual taxes on real estate shall be paid in four equal installments: the first installmen$ for the year 1967 shall be paid on or before M~rch 31, 1967, the second installment for the year 1967 shall be paid on or before June 3g, 1967, the third installment for the year 1967 st~ll be paid on or before September 30, 1967, and the fourth installment for the year 1967 shall be paid on or before December 1967. (b) In the event any installment of taxes on real estate is not paid on or before the time the same is due mhd payable there shall be added thereto a per~mlty of five per cent of the amount of such unpaid installment, and such installment shall bear interest of one-half of one per cent per month, or fraction thereof, frcm the date the same is due and payable until paid. (c) Should a~z installment of taxes on real estate be not paid before the property is advertised or posted as delinquent~ an expense charge of tnventy-five cents for each instaliment on each parcel assessed shall be collected. 6. A~ny person failirg to pay the taxes on tangible personal property, and machinery and tools Zmposed by this ordinance on or before Dece~foer 5, 1967, shall incur a penalty of five per cent on the amount of said taxes. Should said taxes not be paid by Dec~nber 5, 1967, interest at' the rate of six per cent per anntm frcm that date until paid shall like;rise be added. ?. Ail interest and penalties shall be added to the taxes a~d collected by the 'City TrS~asurer as a part thereof. 8. An emergency exists ar~ this ordinance shall take effect January 1, 1967. Adopted by the Council of the City of Portsmouth~ Virginia, at a meeting held on Decamber 27, 1966. Teste: City Clerk ¸--4--