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b. To place to the credit of the Crane/Sessions Breakwall <br />Improvement Fund: (i) the amount of $13,000 (which represents the <br />principal amount of the bond described in subsection a, above) and <br />(ii) the amount of the check, warrant or draft to be received from the <br />Treasurer which represents the payment of the remaining balance due for <br />the special assessment on the Assessed Property, including the interest <br />portion of said assessment; and <br /> <br /> c. To abate the interest portion of the special assessment <br />on the Assessed Property for the final nine (9) years, and to issue a <br />City check, chargeable to the Crane/Sessions Breakwall Improvement Fund, <br />to the owner of the Assessed Property (Clifford Sims) in an amount <br />equal to the interest portion of the special assessment on the Assessed <br />Property for the final nine (9) years, the amount of which expenditure <br />and payment is hereby appropriated and authorized to be paid from the <br />Crane/Sessions Breakwall Improvement Fund. <br /> <br /> Section 2. This ordinance does not constitute a policy of the <br />City concerning any other property with respect to the abatement of the <br />interest portion of special assessments of the Crane/Sessions Breakwall <br />Improvement, or any other improvement. <br /> <br /> Section 3. It is found and determined that all formal actions <br /> of this Council concerning and relating to the passage of this ordinance <br /> were adopted in an open meeting of this Council, and that all such <br /> deliberations of this Council and any of its committees that resulted in <br /> such formal action were in meetings open to the public in compliance <br /> with all legal requirements including the City's Charter and Codified <br /> Ordinances and Section 121.22 of the Ohio Revised Code. <br /> <br /> Section 4. This ordinance is hereby declared to be an <br /> emergency measure necessary for the immediate preservation of the public <br /> peace, property, health, safety and welfare in the City for the reasons <br /> set forth and defined in the preamble to this ordinance; and provided it <br /> receives the affirmative vote of two-thirds (2/3) of all members elected <br /> to Council, this ordinance shall take effect and be in force immediately <br /> upon its passage by the Council and approval by the Hayor; otherwise it <br /> shall take effect and be in force after the earliest period allowed by <br /> law. <br /> <br /> l~rk of Counc'il// <br />Approved: ~ 7 , 1986 ~ <br /> / <br /> <br />018S6/14282A <br /> <br />-2- <br /> <br /> <br />