1890 - 22 Levy & assess special tax to improve Parkside Dr.

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~hall be payable each year thereafter with interes~ thereon at the rake of%~ 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 interest a~ th~ ~f~ce of Eirec~or of £inance. City of Ls~kewood.Said ~ond~ so authorizo e issued shall be dated day of s~le, Shall be signea and sold by said officers as provided by law andthe proceeds thereof shall be applied to the payment of the cos~ and expense of said ~mprovement ~s aforesaid, and to no other purpose whatsoever. ~he f~ll faith, credt, and revenues of the City of. Lakewoodo Ohio, are hereby pledged ~o ~he payment of said bonds and the interest thereom. If within the time above specified and before the sale of said bonds, any of the owners of said property shall pay their total ase$ssment in cash, the aggre- gate stem in bonds to be issued shall be reduced by ~educting the amount so paid in cash from the t6taI amount of the fund to be provided and the bondm issued shall be severally reduced in amount proportionately, ~ection 6: THat upon the sale of said bonds the proceeds thereof to- gether with moneys received from e~ch payment of said assessments sha) be placed in the City Treasury and disbursed upon~roper vouchers in payment of the cost and expense of the improvement aforesaid, Section ?: That said ann~al, payments of said assessments end all por- tions thereof, shall be applied 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 interest as shall not 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, Ohmo~ a direct annual tax in addition ~a all other taxes sufficient f~r 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 shall be in full force and effect from and after its adoption, legal publication and the earliest period allowed by law. Adopted: Approved: L. E. Hill Mayor ~, L. A. H~ldie president , A. O. Guild Clerk