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RESOLUTION NO. 4064 BY: Messrs. Huffman, Lawther, Ward, Williamson, Chockley, Gaydos, Gottermeyer. A RESOLUTION declaring it necessary and conducive to the public health, convenience and welfare to improve Thoreau Road from thirty (50) feet south of railroad property to a point ap- proximately 500 feet northerly therefrom by resurfacing same with asphaltic concrete and doing any and all grading, draining and curbing or other work necessary thereto. BE IT RESOLVED BY THE COUNCIL OF THE CITY OF LAKEWOOD, STATE OF OHIO: Section 1. That it is deemed and declared necessary to improve Thoreau Road from thirty (30) feet south of railroad property to a point approximately 500 feet northerly therefrom by resurfacing same with asphaltic concrete and doing any andall grading, draining and curbing or other work necessary theretO. Section 2. That the plans, specifications, estimat~es and profiles for said improvement heretofore prepared by the Engineer on file in the office of the Department of Public Works, be and the same are hereby approved. Section 3. That the entire cost and expense of said im- provement (less 50% of the cost) shall be levied and assessed in proportion to the benefits which will result from said improve- ment upon the lots and lands bounding and abutting said improve- ment which said lots and lands are hereby determined tO be spec- ially benefitted by said improvement, 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 con- struction, 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 4. That the assessment so to be levied shall be payable in five annual installments, with interest on deferred payments at the rate of three and one-half per centum per annum, payable semi-annually, provided, however, that the owners of any of said lots or parcels of land so assessed may, at their option, pay such assessment within thirty (30) days after the passage of the assessing ordinancein 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 ex- pense of said improvemeht not specially assessed, including dam- ages awarded to any owner of adjoining lands or interest therein shall be paid out of the Gasoline Tax, Motor Vehicle License Tax or other funds of the City of Lakewood. 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:,,,,,,,,,Apri~ 3, 1961 Approved: ~il ~,,1~1 Mayor' Wilson Chockley~ Jr. President Philip M. Dearborn Acting Clerk