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At the time fixed for hearing on any assessment roll, the council shall consider same with the objections thereto and determine the same as required by law, or may give new notice of hearing and thereupon consider the same with objections and determine the same as provided by law, and after any such roll is finally corrected and adjusted it shall be by ordinance of the city approved and thereupon the assessments therein provided for shall be a lien upon the property therein described, which shall take precedence over all other liens except a lien for general taxes, and such assessments shall be collected and the lien thereof enforced in the manner provided by law, and same shall draw interest at the rate provided in the ordinance ordering the improvement or any supplemental ordinance; provided that no interest shall be charged provided assessments are paid within the period provided by law after same are placed with the finance director for collection and notice for payment given. (1957 code § 8.02.040.)