1896 - 22 Levy & assess special tax to improve Alger Rd

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~hall beoayabls each year thereafter w~tk. interest $~ereon a~ the ra~e of ~per centum per annum, payable semi-annually on April i and October I each year,.until all ~f the said bonds have been duly paid and retired, and shal~ be payable, both principal and interest at tho office of Direotor of ~lnance,City-of Lakewood. Said bonds so authorizo~, to be issued shall be~d~ted day of sale, shall be szgned 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 improvemen~ 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 thereo~. If wzthzn tn ~ime above specified and before the sale of said b~nds, any of ~he owners of said property shall pay their total asssssment'in cash, th~.aggre- gate sum in bends to be issued shall be reduced by deducting ~ne amount so paid in cash from the total amoun~ of the fu~d to be provided and the bond~ issued shall be severally reduced in amount proportionately. Section 6: T~at upon the sale of said bonds the proceeds thereof to- gether with moneys received from e~ch payment ef said assessments sba) be placed in the City Treasury and disbarsed 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 to ho other purpose wha~soev~ro Section 8: That for the purpose of providing funds in an amount sufficient to pay the principal and interest on sazd 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 assessment afore~ said, there shall be and zs hereby levied upon all the real and per- sonal property ~n the City of, Lakewood, Ohio, a direct annual tax ~n addition t~ all other taxes sufficient for said purposes; and the amount thereof sh~ll 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 May0r~ L. A~ Hi,die pr'esident A. O. Guild Cierk