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ORDIN;~NCE NO. 83-82 By: Brown, Chinnock, Gallagher, Graham, <br /> McBride, Salmon, Wendling. <br /> <br /> AN t!MERGENCY ORDINANCE to provide for the issuance of notes of the <br /> <br />City of Lakewood, Ohio, in anticipation of the levy and collection of special <br />assessments and in anticipation of the issuance of bonds to pay the property <br />owners' portion of the cost of improving easements in the City of Lakewood by <br />constructing thereon breakwalls with concrete modules and end returns, and to <br />repeal Ordinance No. 75-82. <br /> <br /> WHEREAS, one of the petitions which was the basis for Ordinance <br /> <br />No. 75-82 passed by this Council on September 20, 1982 authorizing the issuance <br /> <br />of bond anticipation notes has been substituted for; and <br /> <br /> WHEREAS, the Council of the City of Lakewood has heretofore this date <br /> <br />by proper legislation determined to proceed with the improvement of easements in <br />said City by constructing thereon breakwalls with concrete modules and end re- <br />turns including the breakwall referred to in the new petition; and <br /> <br /> WHEREAS, the Director of Finance as fiscal officer has certified to <br /> <br />this Council that the estimated life of the improvements hereinafter mentioned <br />is at least five (5) years and has further certified the maximum maturity of the <br />hereinafter mentioned bonds is ten (10) years and that the maximum maturity of <br />notes issued in anticipation of said bonds is five (5) years or one (1) year if <br />sold privately; and <br /> <br /> WHEREAS, this Council by two-thirds (2/3) vote of the members elected <br />thereto determines that this ordinance is an emergency measure which is necessary <br />for the immediate preservation of the public peace, property, health and safety <br />and for the further reason that the improvements herein described are immediately <br />necessary to protect the property and health of the residents of the City which <br />is endangered by the continuing erosion of the Lake Erie shoreline which under- <br />mines houses, water lines, sanitary sewers and streets; <br /> <br /> NOW, THEREFORE, BE IT ORDAINED by the Council of the City of Lakewood, <br /> Cuyahoga County, Ohio: <br /> <br /> <br />