An Ordinance levying a special assessment to redeem the first annual installments and interest to mature and become payable upon the bonds of Local Improvement District No. 48, which bonds were issued under authority of Ordinance No. 517 for the improvement of Ship Street as provided by Ordinance No. 448, in accordance with the assessment roll of said district which was approved by Ordinance No. 502, which was reassessed according to Ordinance No. 491, and providing for the collection thereof.