Convene ratepayers' assembly, garnering respect (8)
I believe the answer is:
venerate
'respect' is the definition.
(venerating is a kind of respecting)
'convene ratepayers' assembly' is the wordplay.
'VENERATE' is hidden within the letters.
But, I am not sure how this is indicated.
'garnering' acts as a link.
Can you help me to learn more?
(Other definitions for venerate that I've seen before include "Treat with respect" , "Regard (something) with great respect" , "Regard with deep respect or worship" , "Regard with reverence" , "Revere highly" .)