1885 - 22 Levy & assess special tax to improve Esther Ave

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shall be ~ayable each year Shereafter with interest thereon at the rate of ~F per centum per annum, payable semi annually on April i and October i each year. until all of the said bonds have been duly paid and retired, and shall be payable, both principal and ~nterest at tha office of Director of Finance,City of Lakewood. ~aid bonds so authorizo~, to be issued shall be dated day of sale, shall be s~gned and sold by said officers as provided by law andthe proceeds thereof shall be applied to the payment cf the cost and expense of said improvement as aforesaid, and to no other purpose whatsosver. The full faith, credi~, and revenues of the City of Lakewood, Ohio, are hereby pledged to the payment of Said bonds and the interest thereoz~ If within the time above s~ecified and before the sale cf said bonds, any of the owners Of said property shall pay theiT total ass ssment""in cash, the aggre- gate Sum in bonds to be issued shall be reduced by ~educt~ng the amount so paid in cash from the total amount of the fund to b~ provided and the bondm 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 asseesments sha] be placed in the City Treasury and disbursed upon ~oper vouchers in payment of.the cost and expense of the improvement, aforesaid. Section 7: That said annual, payments of said assessments and all por- tions thereof, shall be applied in the payment of said bonds and the interest thereon, as the.~ame shall become due and t~ hc 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 Sinkin~ Fund for the final redemption of such portion of said bonds and interest as shall not be paid by the assessment afore- said, there shall be and ~s hereby levied upon all the real and per- sonal property in the City of Lakewood, Oh~0, a direct annual tax in addition tm all other taxes sufficient for Said purposes; and the amoun~ thereof shall be.ascertained levied and certified by the proper tax authorities of said City annually, and shall be collected as other taxes are collected. Section 9: This ordinance shall be in full force and effect from and after its adoption, legal publication and the earliest period allowed by taw, Adopted: Approved: L. E. Hill May6r" L. A. Hildie president A. O. Guild Clerk