Such an ordinance providing for sidewalk construction, reconstruction or repair may provide that a bill of the costs of such sidewalk or portions thereof, showing the costs of the construction, reconstruction or repair and the engineering and supervision thereof, together with an additional sum, not to exceed six percent (6%) of the amount of said cost of construction, engineering and supervision, to be applied toward the payment of the costs of preparing a special tax list, levying and collecting said special tax as provided for in this Article, and an additional amount not to exceed six percent (6%) of the cost of construction, engineering and supervision, to be applied as a reserve for deficiency in interest, shall be made by the Village Engineer or by such other officer or board as is designated by the ordinance to take charge of the construction, reconstruction or repair of the sidewalk, or portions thereof, together with a list of the lots, blocks tracts or parcels of land touching upon the line of the sidewalk or adjacent to the public right of way whereon such sidewalk or portion thereof is located, and the names of the parties who last paid the general taxes on the respective lots, blocks, tracts or parcels and the frontage, superficial area, or assessed value as specified in this Article, according to the provisions of such ordinance in providing for the levy of the cost by such frontage, superficial area or assessed value. Thereupon, if the owner of any lot, block, tract or parcel of land has failed or refused to construct, reconstruct or repair his portion of the sidewalk in accordance with the provisions of the ordinance, the Village Engineer or other specified officer or board shall proceed to prepare a special tax list against those lots, blocks, tracts or parcels of land in front of, or adjacent to, or touching upon the sidewalk or the public right of way whereon the sidewalk is located which is the subject of such construction, reconstruction or repair, ascertaining by computation the amount of special taxes and the annual installments thereof to be charged against each of such lots, blocks, tracts or parcels of land on account of the construction, reconstruction or repair of the sidewalk, according to the rule fixed for the levy of that special tax by the ordinance. The aggregate amount of each special tax levied against the lots, blocks, tracts or parcels of land provided for herein shall be divided into five (5) annual installments of equal amounts, except that all fractional amounts shall be added to the first installment, so as to leave the remaining installments equal in amounts and each a multiple of one hundred dollars ($100.00). This special tax list shall be filed in the office of the Village Engineer or of such other specified officer or board, which officer or board shall thereupon issue warrants directed to the Village Collector, or to such officer as may be so designated in the ordinance, for the collection of the amount of special tax so ascertained and appearing from this special tax list to be due from the respective lots, blocks, tracts or parcels of land. The first installment shall be due and payable on the second day of January next after the date of the issuance of the first voucher on account of the work done, and the second installment shall be due and payable one year thereafter, and so on annually until all installments are paid. The specified officer or board shall prepare, execute and file in the office of the Village Collector or such other officer that may be designated to collect the tax, a certificate of the date of issuance of the first voucher and of the amount thereof, which certificate shall be filed within thirty (30) days after the first voucher is so issued.