1743 - 21 Amend Sect 5 of ord 1677 - improve Edgewater Dr

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1743 ( ORDIl~A'NCJ1 StevClUS At¡ OHDIUA1WE to anumd Seotion , of Ordinance No. ').677, ønti thd,"AN Ordinanoe deten~in1ng to prooeed with, and levying and assessing a epec~l tax to pay the cost and expense of' improving Edgewater Drive trom Webb Road to within l' øf west line of Sullivan property by con- structinG water main of oast iron pipe therein with necessary valves, hydro.nta I a.nd other appurtenanoe'!. and a.uthorizinc the Vi.!lyor and Directcr of' Fina.noe to iaaUe bonds in the sum of $7,9,0.00 in antioipation of the Gaid speoial tax to provide & fund for the payment of tIle portion of the cOst and expense of said improvement for which oald special tax is levied, " Mr. By NO. state of Ohio, DE IT" ¡:mS0LVJi:D BY Tnn: COUNCIL of the Oi ty of LakQwood, two~tl1irds of ~ll members oonc.rr1ng thereto:- 17, 1677 adopted January entitled: Seotion 1: Th~t Seotion 5 of Ordin~noe No. 1921 by the ßounoil órthe City of Lakewood, VAl, ORDINAnCE determining to prooeed with, and levying and assessing a speoial tax to pay the cost a.nd e;;(})snse of improving Edgewater Drive from \'lebb Road to within l' of west line of Sullivan property by con- structing water main of' cast iron pipe therein wit~necessary valves, hydrants, and oUter appurtemnOEls, and authorizing the M.ayo~· and Direotor of Finance to issue bonds in the sum of $7,9,0.00 in anticipation of the aaid spElcial tax to provide a fund for the payment of the portion of the cost and expense of said improV~nent tor which said epecial tax is levied" fOllows: Section 5: Thut to provide a funJ for the payment of the portion of the cost and epenl3é for whioh the IIpeo:l.al assessment herein ia l",'Vied for said improvement, the l~ayor and Director of :Finance be and they are hereby authorized to issue. 20 bond" of the City of LakevroQd. Ohio in the e.ggrega te a\lm of $7,9,0.00 of whioh one bon'i in the (!Un of t.~500. 00 anti one bond in the II.!!:! of $295,00 ahull be due and p<1.yable on October 1, 1922 and one bond in the Gum of $500.00 and one bond in the Bum of' $295.00 she.ll be p~.y¡¡.ble each year thereafter with intereGt t.Ìloreon at the rate of 6 per !lentum per annum, payable sÐmi-a,nn\IrLlly on April 1, a.nd Ootober 1, eaCh yenr until all of the said bondn have been dUly p¡¡.id a.nd retired, Said bonda 110 authorized t.o be i¡¡sued shall be dated day of sale and shall be signed and sold by said offioers as provided by law and the prooeeds thereof s}~,ll be applied to the payment of the cost and expense of said improvement as aforeaald, and to no other purpoee W}l~tsQèVer. The full faith and revenue and all the rea~ and personal property of the City Qf LÐ.kewQod, Ohio, are hereby pledged to the pay- ment of said bQnds and the interest theré6n. If within the time above speoified and bGfore the sale of sa!,d "bonds, any of the ovmers of said property oimll pay their tot~tl aSf.leoament in. oash. the aggregt" te SUnt in bonds to be issued shall be reduced by deducting the amount ¡¡so paid in oash from the total amount 01' the fund to be pro7ided and the bonds issued shull be severally reduced in amount proportionately. to rend as be and the same is hereby amended Section 2: '1'h.'¡t såid original Section ,., of Ordin!1.nce 110. 1677 is here"by repealed and that t.his ordinance i3 hereby declnred to be an (¡mergeney -ae¡-'$ure necea ary for the immediate preaef'vation of the publie property ,nd safety and ah"ll bê in force and effect on and after the po.sJage nd approval by the Mayor. 'opted: July ,th, 1921 E. A. Wiegand, ~re8ident 'roved: L. l~. lIill. ¡¡¡úyor A. O. Guild, Clerk -'--~rn-!"I