1884 - 22 Levy & assess special tax to improve Esther Ave

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shall be payable each year ~hereafter with interest thereon at the ra~e of 5~per centum per annum, payable semi-annually Dn April 1 and October 1 each year, until' all of the said bCnds have been duly paid and retired, and shal~ be payable, both principal and interest at ~ha office of Direc$0r of ~inance,Cmty of Lakewood.said bonds so authormzc~ to be issued shall be dated day of sale. shall be signed and sold by said officers as provided by law andthe proceeds thereof shall be applied to the payment of the cost and expense of said improvement as aforesaid, and to no other purpose whatsoever. The full faith, credi', and revenues of the City of Lakewood, Ohio, are hereby pledged ~o the payment of said bonds and the interest theresa. ~f within the time above specified and before the sale of said bonds, any of the owners of said property shall pay their total assessment'in cash, the aggre- gate sum in bonds to be issued shall be red, ced by deducting the amount so paid in cash from the total amount of the fund to be provided and the honda issued shall be severally reduced in amount proportionately. Section 6: That upon'the sale of said bonds the proceeds thereof to- gether with moneys received from esch payment of said assessments sha] be placed in the City Treasury and disbursed upon ~oper vouchers in ~ayment of the cost and expense &f the improvement aforesaid. Section 7: That said annual, payments of said assessments and all por- tions thereof, shall be appIied in the payment of said bonds and the interest thereon, as the ~ame shall become due and to ho other purpose whatsoever. Section 8: That for the purpose of providing funds in an amount sufficient to pay the principal and interest on said bonds, and to provide the Sinking. Fund for the final redemption of such portion of said bonds and interes~ as shall no% be paid by the assessment afore- said, there shall be and is here~y levied upon all the real and per- sonal property in the City of Lakewood, Ohio, a direct ennual tax in addition tm all other taxes sufficient for said purposes; and the amount thereof shall be ascertained levied and certified by the proper tax authorities of said City annually, and shall be collected as other %axes are collected. Section 9: This ordinance shall be in full force and effect from and after its adoption, legal publication and the earliest pe=i~d allowed by law. Adopted: Approved: L. A. Hildie .... ~ ..... p~esident" A. O. Guild I,. E. Hill " Mayor