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RESOLUTION NO. 4051 BY~ Messrs. Gottermeyer, Huffman, <br /> Lawther, Ward, <br /> Williamson, Chockley, <br /> Gaydos. <br /> A RESOLUTION declaring it necessary and conducive to the <br /> public health, convenience and welfare to improve Overbrook from <br /> Indianola Avenue to ~verwayAvenue by resurfacing same with asphaltic <br /> concrete and doing any and all grading, drainin9 and curbing or other <br /> work necessary thereto. <br /> BE IT RESOLVED BY THE COUNCIL OF THE CITY OF LAKE'~OOD, <br /> STATE OF OHIO~ <br /> <br /> Section l. That it is deemed and declared necessary to <br /> improve Overbrook from Indianola Avenue to Riverway Avenue by resur- <br /> facing same with asphaltic concrete and doin9 any and all grading, <br /> draining and curbing or other work necessary thereto. <br /> <br /> Section 2. That the plans, specifications, emtimates and <br />profiles for said improvement heretofore prepared by the Engineer or <br />file in the office of the Department of Public Works, be and the same <br />are hereby approved. <br /> <br /> ~ect~on 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 lmprovement 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 expense. <br /> <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 anticipation of the collection of deferred installments <br />of assessments. <br /> <br /> Section 5. That bonds of t'he 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 awarded <br />to any owner of adjoining lands or interest therein shall be paid <br />out of the Gasoline Tax, Motor Vehicle License Tax or other funds of <br />the City of Lakewoodo <br /> Section 7. That this resolution shall take ~ffect 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: March, 20, 19~1 <br /> <br />F. Wilson Chockley, Jr~ <br /> President <br /> <br />Approved~ March 2~ 1~61 .. <br /> <br /> Philip..M_~.Dearborn <br />Acting <br /> <br />F~ank P. Celeste Mayor <br /> <br /> <br />