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~ESOLUTION NO. 4046 <br /> <br />BY: Messrs~ <br /> <br />Lawther, Williamson, <br />Chockley, Gottermeyer, <br />Huffman. <br /> <br /> A RESOLUTION declaring it necessary and conducive to the <br />public health, convenience and welfare to improve Lake Road from <br />Clifton Road tO Forest Road by resurfacing same with asphaltic <br />concrete and doing any and all grading, draining and curbing or <br />other work necessary thereto. <br /> <br /> BE IT RESOLVED BY THE COUNCIL OF THE CITY OF LAKEWOOD, <br />STATE O~CHIO: <br /> <br /> Section 1. That it is deemed and declared necessary to <br />improve Lake Road from Clifton Road to Forest Road by resurfacing <br />same with asphaltic concrete and doing any and all grading, draining <br />and curbing or other work necessary thereto. <br /> Section 2. That the plans, specifications, estimates and <br />profiles for said improvement heretofore prepared by the Engineer on <br />file in the office of the Department of Public Works, be and the Same <br />are hereby approved. <br /> <br /> Section 3. That the entire cost and expense of said <br />improvement (less 50% of the cost) shall be levied and assessed in <br />proportion to the benefits which will result from said improvement <br />upon the lots and lands bounding and abutting said improvement which <br />said lots and lands are hereby determined to be specially benefitted <br />by said improvement, and the cost and expense of the improvement <br />shall include the expense of preliminary and other surveys, printing <br />and publishing notices, resolutions and ordinances required, the <br />serving of notices and the cost of construction, together with the <br />interest on bonds that shall be issued in anticipation of the col- <br />lection of deferred payments of assessments and other necessary and <br />incidental e~ense. <br /> Section 4. That the assessment so to be levied shall be <br />payable in five annual installments, with interest on deferred <br />payments at the rate of three and one-half per centum per annum, <br />payable semi-annually, provided, however, that the owners of any <br />of said lots or parcels of land so assessed may,at their option, pay <br />such assessment within thirty (30) days after the passage of the <br />assessing ordinance in this proceeding, and such cash payment of <br />assessments shall not include any items of interest on bonds to be <br />issued in aticipation of the collection of deferred installments <br />of assessments. <br /> Section 5. That bonds of the City of Lakewood shall be <br />issued in anticipation of the collection of said assessments in an <br />amount equal thereto. <br /> Section 6. That the remainder of the entire cost and expense <br />of said improvement not specially assessed, including damages <br />awarded to any owner of adjoining lands or interest~erein shall, be <br />paid out of the Gasoline Tax, Motor Vehicle License Tax or other <br />funds of the City of Lakewood. <br /> Section 7. That this resolution shall take effect and be in <br />feroe upon its passage and approval by the Mayor and at the earliest <br />period allowed by law. <br />Adopted: Ma~ah ~O~ ]961 <br /> F: Wilson. Chockley. Jr. <br /> ~ p~esiaen~ <br /> <br />A¢~ird~ Clerk <br /> <br />Frank P. Celeste ~ayor <br /> <br /> <br />