1641 - 20 Amend sect 5 of ord 1595 - Improve Fries Ave

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'- )&evens 1641 ( OlIDI1wmE''''O. ~\ ) :BY .1'. :lùi ORDIl1ANCE to amend Section 5' of' Ordinance No. 1,95 entitled, "AN OHDINM~CE determining to proceed with, and levying and aeseGsing a special tax to pay Ule cost and .xpense of improving Fries Avenue from Riverside Roa.d to I.årohmont Avenue by pavlng same with briok, 01' bituminous ooncrete. or sheet asphalt, or aephalt block. or b1thulithio,or oonoretE! doing any arid all grading. draining, curbing and constructing delinquent house con- nections incidental and necessary thereto and authorizing the Mayor and Director of Finance to issue bondo in the oum of $14,660.00 in antioipation of the said special tax to pr'vide a fund f'or the payment of tho portion of' the eost of said improvement for which auid special tax is levied, II and :repealing said original Section 5' of O:rdinanoe No. 1595 and declaring an emergenc)r. »:!!: IT RESOLVED :BY TUE COUNCIL of the City of'Lakewood, State of Ohio. two.. thirds of al¡ members conou:rring:- , $éction 1: T~,t Seotion ,of Ordinanoe No. 1,9" adopted ~ay 17, 1920 by the Counoil of the City of Lakewood.. ent! \led.:- -AN ORDINANC~ determining to prooeed. with, and levying and assessing a speoial tax to pay the Qost and expense of improving Fries AVenue from Riverside Roa.d to ~rohmont, by paving GMle with briQk, or b1tU!~inous oon.. orete, or øheøt aspha.lt, or ttSphn¡t block, or b1thuUthio. or QOllCrote ~oing any and all grading. draining. ourbing and oonstructing delinquent 40use OOMections inoidental and neceasary thereto, and authori~ing the .ayor und Director of Finanoe to isaue bonds in the sum of $14,660.00 in antioipation of the sa.id s~ooial tax to provide a fund for the payment of t4e portion of the oost of said improvement for which said speeial t~x is .hviéd II i$ hereby amended to read as follows: Section,: That to provide a fun,; fo:r the payment of the portion of the coat and expensø for which the epacial assessment herein iß levied for said improvement, ,the 'Mayor and Direotor of I11nn.nce be ø.nd they are hereby authorized to .iß8ue 20 bonds aggregating $14,660.00 of which one bond in the $mount of $1,000.00 and one bond in the $mount of ~466.00 ,$hnll be due and payable on Octob$r 1. 1921 a,nd one bond in the $mount of $¡.'OOO.OO ånd One bond in the amount of $466.00 shal¡' be payable eaCh year thereafter, wi th interøst tllOreon at the X'ate of 6 per oentum per annum. payable semi- annually on Aprll 1 and Octobør 1, eneh y-ear until all of stlid bonda Mve been duly paid and retired. ~aid bonds 110 to be issuod. shall be dated Noyember 1. 1920, shall be signed and sold by said offioers as provided b~ law and the proceedS thereof s~~ll be applied to tlw p~~nent of the cost and expenae Qf said improvement as äfol'el1aid. and to no othliJr purpolIs wha1l- soever. The full fa.i th and revenue ø.nd all the roal and peruomll proporty of the City of Lakewood, OhiQ. .re hereby pledged to the paJffilcnt of said bond a and the interest thoreon. If within the time above 8peci:f'1ed and be- .fore the sale of aaid bonds. any Qf the owners of said property ahall pay their tot~l a.ssessment in o8.\3h the a.ggroga.te surn in b(¡nds to be i¡¡sued ahäll be reduced by deduoting the a.møunt 110 ),1,..id in. caoh from the total amount of the fund to be prQvided and the bonde issued oho,l1 bc severally reduced in amount proportionately, same 'be and the Seetion 2: Thüt said original 30otion 5 of Ordin~noe No. 1595 is horeby repoa,1ed an.d that this Orl1i11l"nco is hereby doelal'ed to be an ewcrgeney measure neoésunry :for the irnJ\1ediate preservf..tion of the publio property and safety, (",nd G11all be in foroe and effect on und after thc~ pnesage and approval by the 11ayor. e¡¡;r¡,nd, Pre - ident H Adopted: Guild O. 192 Nov. 1, Clerk A. Dayor Ri.l1 E.. Approved: