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RESOLUTION NOo ~0~8 BY: <br /> <br /> A RESOLUTION declaring it necessary and conducive to the <br />public health, convenience and welfare to improve Kenilworth Avenue <br />from Detroit Avenue to Sloane Avenue by resurfacing same with <br />asphaltic concrete and doing a~¥ and all grading, draining and <br />curbir~or other work necessary ~]ereto. <br /> <br /> BE IT RESOLVED BY THE COUNCIL OF T~IE CITY OF LAKEWOOD, <br />STATE OFC~IO: <br /> <br /> Section 1. That it is deemed and declared necessary to <br />improve Kenilworth Avenue from Detroit Avenue to Sloane Avenue by <br />resurfacing sams with asphaltic concrete and doing any and all <br />grading, draining and curbing or other work necessary thereto. <br /> <br /> Section 2. That the plans, specifications, estimates <br />and profiles for said improvement heretofore prepared by the <br />Engineer on file in the office of the Department of Public Works, <br />be and the same are hereby approved. <br /> Section 3. That the entire cost and expense of said <br />improvement (less 50% of the cost) shall be levied and assessed <br />in porportion to the benefits which will result from said improvement <br />upon the lots and lands bounding and abutting said improvement <br />which said lots and lands are hereby determined to be specially <br />benefitted by said improvement, and the cost and expense of ~e <br />improvement shall include the expense of preliminary and other <br />surveys, printing and publishing notices, resolutions and ordinances <br />required, the serving of notices and the cost of construction, <br />together with the interest on bonds that shall be issued in antici- <br />pation of the collection of deferred payments of assessments and <br />other necessary and incidental expense. <br /> <br /> Section 4o That the assessment so to be levied shall be <br />payable in five annual installments, with interest on deferred pay- <br />ments at the rate of three and one-half per eentum per annum, payable <br />semi-annually, provided, however, that the owners of any of said lots <br />or parcels of land so assessed may, at their option, pay such assess- <br />ment within thirty (30) days after the passage of the assessing <br />ordinance in this proceeding, and such cash payment of assessments <br />shall not include any items of interest on bonds to be mssued in <br />anticipation of the collection of deferred installments 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 /> <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 therein shall be <br />paid out of the Gasoline Tax, Motor Vehicle License Tax or other <br />funds of the City of Lakewoodo <br /> Section 7. That this resolution shall take effect and be in <br />force upon its passage and approval by the Mayor and at the earliest <br />period allowed by law. <br /> <br />Adopted: <br /> <br /> ~ P~sident <br /> <br />clerk <br /> <br />Mayor <br /> <br /> <br />