3922 - 40 BAN - Improve Maple Cliff

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. 4Rl;~S~APtCI~ ~t}r 3622 13X lar. Ward Ci:l~I1gAT~CI~ authorising; the Mayor and ~S.rsotor of ~'inanae to borrow r~caney and ~.ssue notes in anti.cipat3.on aP they levy oP epsaial assessments and. oP the issuance oP teoneis in antiui;patipn oP thq aol2satiUn the~reaP, .for t2 ir~provssrent of Maple ~~,;;iff 33rivs Pa•am T.~i~~es ~ivanu+~ to l.tca nc~°tLe~rl; ter~iz$ ks~ reaur~a<=1n~,. ~±5, tine ~ir~}ctor 4P ~3nanae hag oertiPietE to ttJis ~+ouncail ee pravislsc by ~eCtic~n 22113-14 of the t~enaral {:oc2s, tYiat t1ze~ asti~sszted life of ~e it~xprovsmont hex°einaF'ter ref"esrc~get to gxaeeds f'ivs {3j year, aaxeeZ that tkie imu~ maturity 4P the notes hes~inaPter ret'+eYrrsd to i$ twee ye~srs, aced, lM1'1€~~F+~~S, this t3aunail tetitttatss and e§aSterminas that the is af' special assessmmnts Por sslt.d improvsme.°~t' hereinafter spgaiPiedr wri~l ba ids anti that the bonds ,osll bs issued iza antioipatian oP the aallsat5.on oP spectaY assssst~nts Prior tea the d+ete nP maturil~r bP the Hates hereinat`te: authorised ire +orc9er to pey sai$ t?oteS at eaaturity as provided by lawp No~r~ thsreforq j _ 8Ts YT OI~sAIP3'~ BY' 9~T.~ COTtift311~ t1P' T131~ QITY ~I"' ~Al~§~0013., 3l'A'I7~ pF~ b13T?3f _ 3sation 3t That it is demmgd and deolargd nsagssary tb barrow in the a~~re~ate sum 4P %hre+9 lhausand Two hundre,~t Fi:~tegn balXars (~3,2184Ef) and the Boiayar sz~d bire~etor 4P yinsnaq are hereby euthw•iaed and directed to barraw suah.~um and to issue a Hots or notes of the Gf:ty of ewoc~t in said principal sine bt' ~'3,22E3r.00 3n antioipratieua oP the l~zvy bP speoiai assessmsntm emi flap. issuance bf' bon+ls as provided by lswe, particularly pus°axuant ~o antl in i'ud.3. domplianae '~rith the 1~i?iP433n #~ond Acts Sn order tq provide-a f'uad Mitlx ~sich to pay *he property oeners* shay°e of the cost and expense oP impravix~ Maple C1iPP 1"rrives from I,sks Avenue to Sts north®r1y terminus_Ly resuriaaing same in the manner provided Por in the resolutian dealt>rin~ the aagc~essity of saiA ir~provema~nt anA the ordinance rletern~inin~ tcs proaee;d therewith,. Bastion 2t Thut said. note-br notes shall be saecutpd a~ delivered in in such manner and in sash dgno~.natians as may be determineA necessary* Hat gxaegdin~ the a~~-re~;ate said soul aP 'S,ElB•~q and aliall ba deai~nated eCity oP Lskewooe3 1~ple G1ifP L'rive iesurtaoin~; 2imte" stuell 2>e ~Ated eatob~ar let 16~Ot sbal], draw interrat at tho rate 41 Two Perosnt (21~a par azusuar, payablo stiml-anrzuelLly oic tta,q first day oP April anQ p=:tuber of eaala years shall have interest eaau;;;ons to ba attached to said note bssrin the si~,nature of said L'ix~catar oP >?'3,nsnae and shall be due ~ ar be Pore the first Gay CP flatoher I9e8• 1 "~eatiea32 3f ~e:id note or notes sash be Prepared itt the Porn Airsated by tlae ~irerator of ,taros, shall be signed by the ~:ayor and Tireator of ~`inanae and sealed with the ~~~~yarss seal, sl~ll expross upon their faces the purpoaa for which they airs locoed. anti that $l~ey are issued pursuant tb anti in oo*.tpltance witkb the Uniforxa IIonQ Flat es~ the l~rgvi.aions aP this arc',inana+e ano^ shai3 l:e; payable, both principal aza~? inte?rost at tkie o.P!'I.a: of Eh® ~irrtator oT f'"incase, l~kewooc9 City hall,. halce~oorl, Ohio, Section 4t That tl'.o money _oo barra~ved on said Hates, except prroi:~iues and ecoaazed i.nttarept, ii' tray,. anti sz sw€s to pa~* thm intc~reat on said notes prior t© the issutxnaa of bones, shall 'ke plaoed in the G3f:y °rezsury to tYit3 crec2it of the lkaple Cliff ~=esurfaain, =und. ."daic2 aura of zzc~nQy shall ti6 r3isLuraed upon proper voucher for ttae purpase af'oc°aseatcl and Por no ~yther purposq+ Tkut premitu~ and ecarued interest, if any, cuu"I rzn u~sount sufS'iaient to pey the interest upon stWic~ Hotel or notes, ,prior to the issuance ox' tsonc4s €:s hrsr€ain provided, si=al.1 be trar.~sParrced to flee ~inkin: road '~"rustees to ls€~ ag:plied by tks~ in aacnrdenae rositlz law«