1753 - 21 Amend sect 5 of ord 1647 - improve Chesterland Ave

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) :BY ur."Stevens ( ORDInANCI~ 1753 A¡:¡ ORDINAUCE to amend sect;i.on5 of Ordinance No., 1647, entitled, "AN ORDIN1~¡CE determining to proceed with, and levying and øseeasing a special tax to pay the coat Ilnditxpensè of improving Chesterland Avenue from Madison Avenue to Fiecher Road by paving same with briok or bituminous ooncrete or sheet asphalt or cementooncrete, doing any and 11.11 c;radifl{;, draining, curbing inoidental and nece¡¡(¡ary th~reto, and authorizing the ~yor and Direotor of Finance to issue bondo in the sum of $34,230.00 in anticipation of the said special tax to provide a,fund for the payment of the portion of the oost of said improvement for whioh said special tax ils levied." . NO :as IT OHDAUED by the Oounoil of tl1e Oity of Lakewood, State of Ohio, two- thirds of all members ooncurring thereto:~ Section ¡': Th" t Section 5 of Ordinance No. 1647 adopted l_ovember 15, 1920 by the Counoil of the City Of ~1kewood, entitled: "M! OlIDIUA,NCE determining to prooeed with; and levying a.nd !;Iase.ing e. epecial tax to pay the coat and expense of imþroving OhesterlanÜ Avenue from Madison Avenue to Fischer Road by paving same with brick or bituminous concrete or sheet asphalt or c~nent concrete, doing any and all grading, draining, curbing 'mcidenta.l and neceuary thereto, and authorizing the Mayor and Director of Finance to issue bonds in the sum of $34,230.00 in anticipation of the said, special tax to provide a fund for the payment of the portion of the coàt of said improvement for which said special tax is levied," be and the same is hereby amended to read as follows: Section $: That to provide a fund for the payment of the portion of the cost and expense for which the speoial assessmønt heroin is levied for said improvement, tho Mayor and Director of Finance be and they are hereby authorized to issue 40 bonds of the City of Lakewood, Ohio, in the a.ggrew'te Sum of $34,230.00 of which bonds three bonds in the S~1 of $1,000 eaoh ø.nd one bond in the S~n of $42~.00 shall beJue and payable October 1, 1922 and thrEle bonds in the s~n of ~'\l,OOO and one bond in the sum of $423.00 shall be due an'.l payable each year thereaftør wi th inteI'est thex'eon àt the rate of 6 per centUJ~ pcr annum, paya'ble Gemi~annually on April-let a,nd Ootober lßt, each year until all of the said bonds }~ve been duly paid and ret1red. Said bonds so authorized to be issued shall be dated day of sale and sllHllbe signed and sold by said officers ae provided by l¡;.w and the proceeda thereof shR.ll be applied to the payment of the cost and expense of sc,:Ld :Lmprovement ai'l aforei'la,id, and to no other purpose whatsoever. The full faith and reVenue ami all the real and personal property of the City Qf Lakewood, Ohio, are hereby pledged to the payment of said bonds I1I'1.d the :Lntérest thereon. If within the time above specified and before the Bale of said bonds, any of the ownors of Baid property shall pay their total aSsessment in cash, the a¡;gregate sum in bond3 to be iGsued shf:.1l bere- dueed by deducting the amount so paid in cash from the tot.al a¡naunt of the fund to be provided and the bonds issued shall bo severally reduced in amount proportionately. Seotion 2: 'that said original Seotion 5 of Ordinanoe No. 1647 is hereby repealed and tJ~t thi4 ordinance ia hereby deolared to bê £1 ~mifgðRrt meQsur<;¡ nooe,,'~ary fQr the irnwedi..,to p;re¡¡ervation of thefY:,:j. 1. c Y ana safety ana sha ~ be In force and efl"ect on and a.fter the pas$age and approval by the Mayor. E. A. Wiep:and '. President A. O.~G Clerk Adopted 21 AUgU6t 1 A 0 Guild -' --:-.. 'õflngMayor ."....r-r . . Approved