3635 - 55 Improve Edgewater Drive

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RESOLUTION NO. 3635 BY Er. Quinn A RESOLUTION declaring it necessary and conducive to the public health, convenience and welfare to improve Edgewater Drive from Webb Road to Kenneth Drive by resurfacing same with sheet asphalt or as- phalti~ concrete and doing any or all grading, draining and curbing or other work necessary thereto. BE IT RESOLVED BY THE COUNCIL OF THE CITY OF LAKE~OOD, STATE OF OHIO: Section 1, That it is deemed and declared necessary to im- prove Edgeweter Drive from Webb Road to Xenneth Drive, by resurfacing same with sheet asphalt or asphaltic concrete and doing any or all grading, draining and curbing or other work necessary thereto. Section 2. That the plans, specifications, estimates and profiles for ~aid improvement, heretofore prepared by the Engineer and now on file in the office of ~heDepartment of Public Works, be and the same are hereby approved, Section ~. That the entire cost and expense of said improve- ment (less 50% of the cost ) sh~_~_l be levied and assessed in proportion to the Benefits which will result from said impr°vementsUp°na~d the lots and lands bounding and abutting said improvement which lots and lands are hereby determined to be specially benefitted by said improve- ment, and the cost and expense of the improvement shall include the expense of preliminary and other surveys, printing and publishing notices, resolutions and ordinances required, the serving of notices and the cost of construction, together with the interest on bonds that shall be issued in anticipation of the collection of deferred payments of assessments and other necessary and incidental expense. Section S, That the assessment so to be levied shall be payable in five annual installments, with interest on deferred payments at the rate of two per centum per annum, payable semi-annually, provided how- ever, that the ownersOf any of saiid lots or parcels of land so assessed may, at their option, pay such assessment within thirty (30) days after the passage of the assessing ordinance in this proceeding, and such cash payment of assessments shall not include any items of interest on bonds to be issued in anticipation of the collection of deferred in- stallments of assessments. Section 5. That bonds of the City of Lakewood shall be issued in anticipation of the collection of said assessments in an amount equal thereto. Section 6. That the remainder of the entire cost and expense of said improvement not specially assessed, including damages awarded to any owner of adjoining lands Or interest therein shall be paid out of the C~soline Tax or Motor Vehicle License Funds. Section 7. That this resolution shall take effect and be in force upon its passage and approval by the Mayor and at the earliest period allowed by law. AdoPted: June 6, 1~ Approved:June 7. 1955 Wm. R. Fair~rieve ,., Presiden't H. A. Rees clefk A. I. £auffman. Mayor