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<br />Secti~n 4: That to provide ä fund for the payment of ~.e portlon of the
<br />coat and e~penue of sald oonneotiönn. fOl' whioh the Sl)ecilll asaEtøsr.tf.mt
<br />herein is levled, the MayoX' and 1>ireotor (If Finance be and they f"r,; h¡:!'eoy
<br />autho:¡:'ized tp borrow money and ther fore issue notou of t¡~e City' of l.ak~-
<br />wood in IlnticiptÄtion of the collection of s~¡id speclal I).saeøømenta in the
<br />aggreO:;."te ow!!. of $5,000,00. Such note¡¡ shall be I.Ii¡',nod a.nd ¡¡oulad au
<br />municip,:,l bond:.> o.:::e si{,necJ a.nd ¡jel,iled. They shall beur lnteriJst !:it the
<br />r;,;:tü of not to exoeed ßih tOr cent (6%) per II.11nUJ¡1, fron the date of !,.¡¡,HI().
<br />paY:.'Ible ee.."1i-tmnW·,lly on April lat t1.nd Octobor 1, and 0111111 be p¡ly¡¡ble
<br />one on the i'i:rot da,'l of April 1923 ;¡.l1(1 ono eVCI';)' six month, tlwrcD.ftcr
<br />untl1 ~,ll arc r.[~ld (¡nd r" tired. Said, note:. slmll recite upon thoi:!:' f¡¡.cc
<br />th.:\t .they arc 1;;¡itlcd :for the PIUpO:Jt¡ of in.¡tallln¡; sswar ánd \'I.f¡teI' oonnec-
<br />Uom: in Lr.kè\70od Itelghta Bou].<Jvrlrd between Ctu';>bell Avenue and Aleer Hoad.
<br />A¡l asae;,¡smcnts çollcoted tor said lroprovenent, ßn'% 11.11 unex~)ende1 blll:;nceslII
<br />re¡¡w,ihin{~ ln the f¡lnd !'liter the cost t¡,nd e;::pOJ1l!¡,HJ of the 1r;lproVenol1t h,'1V':I
<br />been p~¡ii.l, Qhall be Bppliod to the pr.¡ymcmt of the notes and tho lnterQst
<br />thereOn until bothm.re fUlly paid.
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<br />section~: The full fl<ith and reV011Uf) of tht~ Ct ty of Lakewood, Ohio are
<br />hereby pledged to the þlJ,YID,mt of ¡;¡~,id note" ~h¡d the illtcr(H~t thereon.
<br />If wl thin th~ time ¡¡.bOv... ßµeoifiod and 1:v,!'or"tbe oJ.Ile of fòc.id ¡,otE ¡¡ ¡my
<br />of the ownars of <lr,id property shall pny th"ir totD,l I1.S,Jo¡¡¡sr1cnt in cf\tih,
<br />the 1iI.{;greg;;¡ to Bum of note:" to be iaaued shall bo r()duoed by deductil1ß
<br />the s.mount GO ¡¡I).id in en,,;:' froN the tote.l anount of the fun,.: to b" pro-
<br />vided, and th(i note:) iGG\H:d ¡¡¡he,ll be I>evcrtclly l'cduu<:r.; ln ar~()ul1t 'Propor-
<br />tionately.
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<br />Seotion 6: Th:,\t upon thü Ii!Üa of 8::"id notcéI the 'f';l'ooliH)dG t}:f}¡,cof together
<br />wi th ¡¡¡onoYG rCQoi vod :from Ctu:¡h :paymcnte of ('mid a!3';h!iHI!T1tmt¡;¡. sìuÜl be
<br />ple.eed in the city Trcnotlry a.nd dioburaed upon p:ropèr vouoh<Jrs in paymènt
<br />Of t1'1" <;Io3tand exþ,HJso of the improvement !lfora:mid.
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<br />7: ThE.t (mid (~nrlw,.l p!).yment:¡ oi' m:cid as:Hí!Sé3DI"nt,L: rm\!,
<br />011&.11 be ¡¡p1',liaå to th,¡ p'j.ym,mt (If ¡¡Idd notafJ 1m.! the
<br />O'U tho w;.raü G.nrill baccJIaü due an~J to JìO other ;'U1."i: i?:J{
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<br />Section
<br />thereof,
<br />thereon,
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<br />Section 8; Th.':\t for the pm':;o:òo of p);'ovidirtr: tumIa 1n en amount sufficient
<br />to }):.y tile p:t'incipnl fUi'.¡ inter(j3t on (mid n()te[3,. and to px'ovlrl() the "inldng
<br />fund for the fiubl rHdeu"ti n Of anch po:ctio!1 of o:.id note::! rind lnt,!,?1'0f;t
<br />till) s11t:ll not b', p;c1d by the nO"e3iJ(t¡0i1t fl.forer¡,1id, tJ.¡erc oJmll 1Hi liD:! ifJ
<br />berety levied UPQ11 1).11 thc rl'íl"l hlld pør;1orwl :p:::'o1''''1'1;.y in the City of j',nke-
<br />'-'ood, Ohio, a direct nHau"l tH;(, in c.ddition to ..11 oUi-.X' tnxel!. sufficient
<br />fox' SLid, pur· oCieo, tho !:\r'iount ti,o reof uhall ÌJe (¡,(HH·tIÜnci-Ì, lovied tmd
<br />certified þy tho prQper tax aut oritiea of Gnid Gity, anrmnlly, (¡,nd sh&ll
<br />be colleoted R.n other t¡;xer¡ tire colleo ed.
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<br />Se-otion <): That nn ¡;mel'gcmoy Clxint¡;¡ for the imrr,edi,.te preuex'v:. 1:.10n of
<br />:puþlic: honl1;h, proJYJrty 1111·1 01'[ot-;., ax-ioing out øf th,¡ neoo¡)sl ty of tho
<br />1mrc¡edir:te çom¡trucUon of u¡;;ld connect).one am! thQr@forc thin ordinm:\ee
<br />sh:Ül ttù>:e effeot 1'0; 1:,..11/i t anrl lit thc.earllc,:t 1'10d allowed. py l::w.
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<br />Adopted: ¡~tY.t?/f}~ff......
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