27-70 BAN property owners portion - off street parking on Carabel

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oRDINhNCB ~0. 27-70 provide for. thc issuance of a note ,~ y oiiDI}~?K~E to and in ant[cipa%i°n o[' the AN 5~BC'E~ special . rs' portion o[' the cost an%[C~pat~°n of the ~evy of property 7%;~e% ~arK~n~ of n~o%or vehicles ~n the · ~ ~n~. ex,sting issuance of bgnds %o pay %h~ for off-s%r~ ~%e demolish ~ _~n~ drainage propert~e~ .--- ~ea~ e~uu , - -~d ~ro~u ~mprovi. nS certain .... ~,r acquir~nb t.[_~+~n., fencing ~" ~t .~a ~ldenin5 ...... ood~ on~o~ ~ .... blng~ i'lb~ ..... V~.es thereLo City of bai~- _._~ ~avkUg, u~ ~_r.~ appurtenu,,~ . the c~b and graa- · ~s. graakno~ ~.~ +h~ necesou ~U~Ul T ' ~ther %.;z~n .... kes by re%ocat~ng facYZ~t~es uuo~ fron% of such propert Carabe~ Avenue kn ~ng and paving- . 'ouncil of the City of LakeWood has heretofore by the C ~;~%h the ~Drovemen% of certain %.~R~S~ de%ermined %o proceed · %y acquiring real estate~ proper legislation · c~bing~ lighting~ properties for off-street parking of r~otor vehicles fencin5 = existing build%rigs' grad~mg, paving'the necessary appurtenances demollshin ..... facilities together w~th therewith; and and providing draznug= ~n connection thereto and widening Carabel Avenue I,~S' there is no~ available the s~m of $2,3?0 which is to be applied to the retirement of the outstanding $59,270 note dated I4ay 29, 1969; and W~E~S, this Council by two-thirds vote o~. the members elected thereto determines that this ordinance is an emergeny meas~e which is necessary for the i~ediate preservation of the publC peace, property~ health and safety and for the f~ther reason that't! i~ediate issuance and sale of the note herein authorized is necessary'o enable the City to preserve its credit by retiring at mat~itY the outmnding note which is about to mature; NOW~ ~FORE, BE IT OR~I~D by the Couil of the City of ~k~ood~ c~ahoga Co~ty, Ohio: section 1. That it is hereby declared nessary to issue bonds of the City of ~kewood in the principal s~ of $56,~in anticipation of the collection of special assessments to pay the prope~ owners' portion of the cos~of improving properties described in Resoluti~N°' ~569, adopted buildings, -.~,-~n~ fencing and p~ding drainage facilities ~y 15, 1967, by acquiring real estate, demolishi~xisting na'vinZ, curb~no, o ...... +hereto t widening Carabel grading, ~i~h ~e necessary app=~ena~u=o %oge%her Avenue in co~ec%ion %herewith. bonds shall be da' approximately May 1, 2 That sa id · Section · · ..... ~timated rate ~x per cent~ ' teres~ a~ ~:~= =o . . . 1971, shall bea~_Zn_emi annually, until the przn~_S~ ~s~azd~ an~ ~er aum~, payaoAe s ~ ~ ._~,~v ecual ~z zns~az~en~s a~er ~hall mature in twenty-I'ive suo~=~ .... ~ their issuance. Section 3. That for the p~pose of rag money in anticipation .of the le~ and co~ection of special assessmentd of the issuance of the aforesaid bonds for the above described improven it is hereby declared necessary to issue and there shall be issued a ~in the principal amount of $56,90o. Section ~. Such note shall bear inteat ~ rate not exceedin~ per cent~ (Q.6~) nn~able at maturity, shalI per a fo~ and six tenths be dated May 29, 1970 and shall, matte on or b,°ne year from such date. That such note shall be executed by ayor and Director of Finance and bear the seal of the Corp°ration. hall be payable at the - · Hall ood, Ohio, amd shall office of the Director of Finance, City r , ~ ~ e~ress upon its face the p~pose for which i~°~uec an~ that it is issued pursuant to th~s ordinance.