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ORDINANCE NO. 39-93 By: Boscia, Gallagh~r, George, Gibbon, Roth, Seelie, Smith AN EMERGENCY ORDINANCE amending Assessing Ordinance No. 35-93 passed on July 6, 1993 to provide for ten annual installments of assessments. WHEREAS, this Council passed Ordinance No. 35-93 on July 6, 1993 levying special assessments for the improvement of an approximately twenty (20) foot wide easement with its northern boundary located approximately twenty (20) feet north of the currently existing southerly shore of Lake Erie in an area now submerged lands but formerly a part of the lots on the northerly side of Edgewater Drive from the easterly line of property now or formerly owned by the Unit Owners of the Lake House Condominium as tenants in common, and assigned as its address 11850 Edgewater Drive, westerly approximately 330 feet to the westerly line of said property, as set forth in Resolution No. 6637-91 adopted on September 16, 1991, by constructing thereon a breakwall with concrete modules, fill and end return and which provides, in Section 3 thereof, for the payment of assessments in twenty (20) annual installments; and WHEREAS, the aforesaid Resolution No. 6637-91 adopted on September 16, 1991 provided fOr the payment of such assessments in ten (10) annual installments; and WHEREAS, it is therefore necessary to amend Ordinance No. 35-93 to conform to the provisions of Resolution No. 6637-91; and WHEREAS, this ordinance is an emergency measure which is necessary for the immediate preservation of the public peace, property, health, safety and welfare in the City and for the further reason that the prompt issuance of notes is necessary to preserve the credit of the City by retiring the outstanding notes issued in anticipation thereof and therefore the levy of assessments provided for herein and the commencement of the cash payment period should be effective at once; NOW THEREFORE, BE IT ORDAINED by the City of Lakewood, Cuyahoga County, Ohio: Section 1. Section 3 of Ordinance No. 35-93 passed on July 6, 1993 which now reads: "Section 3. The assessment against each lot or parcel of land shall be payable in cash within thirty 00) days after the passage of this Ordinance or at the option of the Owner in twenty (20) annual installments with interest at the same rate as the City is obligated to pay on the bonds and notes issued in anticipation thereof to be issued in anticipation of the collection of said assessments. All cash payments shall be made to the Director of Finance of the City. All assessments and installments thereof remaining unpaid at the expiration of said thirty (30) days shall be certified by the Director of Finance to the County Auditor as provided by law to be placed on the tax duplicate and collected as other taxes are collected." is hereby amended to read as follows: "Section. 3. The assessment against each lot or parcel of land shall be payable in cash within thirty (30) days after the passage of this Ordinance or at the option of the owner in ten (10) annual installments with interest at the same rate as the City is obligated to pay on the bonds and notes issued in anticipation thereof to be issued in anticipation of the collection of said assessments. All cash payments shall be made to the Director of Finance of the City. All assessments and installments thereof remaining unpaid at the expiration of said thirty (30) days shall be certified by the Director of Finance to the County Auditor as provided by law to be placed on the tax duplicate and collected as other taxes are collected."