1889 - 22 Levy & assess special tax to improve Nelson Ave

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~hall be payable each year thereafter with in~eres~ thereon a~ the rate ~ ~ per centum per annum~ payable semi,annually on April 1 and October i each year, ~n~il all of the said bonds have been duly paid and retired, and shall be payable, both principal-and interes~ at th~ office of Director of Finance,City of Lakewood. Said Bonds so au~horizo~ to be ~ssued shall be d~ted 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 cos~ and expense o~ said ~mprovemen~ as aforesaid, and to no other purpose whatsoever. The full faith, credi~ and revenues of the City o~ Lakewood, Ohio, are hereby pledged ~o the payment o~f said bonds and Zhe interest thereo~. If within the ~ime above specified and before the sale of said bonds, any of the owners of.said property shall pay their~total asssssment'in cash, the aggre- game sum in bends to be issued shall be reduced by deducting the amoun~ so paid in cash from the total amoun~ of the fund ~o be provided and the bondm issued shall be~everally reduced in amount proportionately. ~eotisn 6~ T~at upon~the sale of said bonds the proceeds, thereof to- gether with moneys received from e~ch payment of said assessments eha~ beplaced in the CiSy T~easury and disbursed upon ~oDer vouchers in payment ~f the cost and expense sf~ the improvemen~ aforesaid. Section ?: That said ~nnual payments of said assessments end all por~ tions thereof, shall be applied in the paymen~ of said bonds and the interest thereon, as the ~ame shall become due and to ho other purpose whatsoever. SectiOn ~: That for the purpose of providing funds in an amount ~sufficient ~o pay the principal and in~erest on said bonds~ and to provide the Sinkin~ Fund for the final redemption of~ such portion of sai~ bonds and interes~ as shall no~be paid by the assessmen~ afore- said, there shall be and is hereby levied upon. all the real and per- sonal property ~n the City of Lakewood, Ohio~ a direct annual ~ax ~n addition ~ all other taxes sufficient for said purposes; and the amoun~ thereof shzll 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 sha~l be in full force and effect from and after its adoption, legal publication and the earliest period all,owed by law. Adopted: July 3, 1922 Approved: Mayor L. A, Hildie President A. O, GUild ..... Clerk'