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<br /> CRLfII~U11~£R 3aYS, 8918 Sy pr, Fairgrieva
<br /> AYT Q~~TS&SCP authorising the 18sros area ifireotar of Fiasnas to borrow siarrry and issue
<br /> sfoter in ssrtioipatiaan of the levy of sgraia3 aeress~nts and of the issuarzaa ai' bands
<br /> in satiaipatian of the aollsotion thereof, for the iraprmveaeat of Parkwaod ttaad from
<br /> lletroit Avrnur to l`raroklia Haulrvard by iastallint; sewer AAtia, sorb aorcrceatlona and
<br /> ether ar~purtar~naes inoidontal thereto,
<br /> r1}i}t~u", the Uireator of rir~ae® her aertifiad to thief Council as provided by Seatian
<br /> 2293-10 of the Oeaeral Code that the sstimeatsd life of the improvement h®reixse~ftar
<br /> rrfsrred to sxaerds fivr years and that the maturity of the motes herein«
<br /> actor referred ?zt is two yrarr, atsde
<br /> 1REA5, this $ounail ertimatea and determines that the levy of special assersrarnts fer
<br /> raid immpravesfent, hereiaei'ter spsaifiod, will be ttsde and 't}2at the bars wil3 be issued
<br /> in antioipatian of the co33rotian of rpeaial srsessmsats prior to the date of maturitg
<br /> of the ttates ?rereinafter authorised in order to pay said notes at maturity as provided
<br /> by law„ sow, therefore,
<br /> HR IT ORDAIk~a }3Y 4RE~ COt'ifCiL Of CI'!Y 4#' LAT?ODA, $TASB CF tRSIt3e
<br /> Bsotion 1, That it is deemed ana declared naoessary to barrow i.n the ar.~rre@;ata rur, of
<br /> 8T8T$EYi TFicrU8AAA? P'3VR Hil~h&I} AttD SlttiTY PQIfR 1lOLLARE {~ab,s84,~) acrd the ~ayar sad
<br /> piseotor of Finano® M.re horieby eutharised sad directed to barrow rush ruxr, afsd to issue
<br /> ` a lwts or notes of the :City of Lakorrnod in sa#d principal sum of 81b,~84.0U i.a antiai•
<br /> potion of the levy of spsaial areesameats and thr issfanae of bonds as provided by law
<br /> parti~nlarly pursuant to and !a full sFa~lianao with bhe daii'arm Band Aot, in order to
<br /> provide s food with which to pay ~r praperky crosses share of the sort and sspenaq of
<br /> improvir~ 'Aarkwood }toad froze Tretroit Ifvenue to k'avuxklin Haulevr~rd, try inotalliug sewer
<br /> main, curb onnneations and other appurterfaaoes inoidaatal ttaereta is the fnanner provided
<br /> Por Sn the resalutian declaring the aeaesaity of said ifnprovement and they ordinance
<br /> detorrainia~; to proceed thersrrlth,
<br /> Section it, That said Hate or notes rhali be saeauted and delivered in rush manner and
<br /> in rfaoh denaminatiozfs es t~.y bo detarairred neoesaary not rxoeestira~ the a~!ere~ate raid
<br /> rum of $16,534,311 raid sha13 be disignateat "City of Lfakewoosi I~srkv~aod Road SsMer hate
<br /> _ shall be dated september let, 3940y ahaii draw intsarast at the rats of Tua £araent {2~)
<br /> per snraura, payable aa:~t-annually an the first day pf April and Omtobar of each gears
<br /> shall .have iaterest roupnns to be attached to said Hate bearinr, the siCteatura of said
<br /> }3ireotor of fiaraxfae and s}iail be due on the first day at September, 1942,
<br /> 9eattora ~r Said note or noteA shall ba prepared ire the forza directed bg rho pireotor
<br /> of Law, shrill be sfgnad by the t~,l~or arxd ?'ireator mf Finance aml sealed with rho
<br /> liaymrfs seas, shall rxpresr upon their faces the purpose for which they era issued
<br /> and that they are, issued pursuant to end in aamplianoe with the ;a'ni.i`ora Pond Ant end
<br /> t?re prmvisioas of this ardinarce and shal3 ba payabloy both prinaipcjl grad interest at
<br /> rho of4'iae of tAe °ireator a8` 'SfbutaA, Lakev~ood City Ru31, 1,feke~xaad, Ohio.
<br /> $eotian A, ?}rat. the sroney so harrowed an raid sates, oycoapt prem3ura and. aaarvrd
<br />
<br /> - interest, if any, and a sum to pay the interest nn said notes prior to L}ve irsuanae
<br /> of bands, s}iall be p3abed in the City ".'reasury to t?~:e credit of the F's.rkwoad }'load
<br /> 5awer fund, Maid aura of money s}satl ba disbursed upon proper vouahar far t1;e purpmse
<br /> afcreeaid and for na other purxcfso. T}rs gremitmr and aac.»ue3 interest, iP cry, an3 an aaoun
<br /> suP#'iairrrt to pay rho iutwrast upoux said Hato, cr nates,prior to thew iss,.~e.nae of bands
<br /> ae heraix~ provided, shall be trarasferred to the S"lnkinlrr Irund Trc:stses to be app3iod by
<br /> them is aoaordanae with saw,
<br /> 8eatioaa T},r proaeedr of bcsuis hereby detcraaizred to be issued in artiaipation of
<br /> flee anlleatione of assessmeoats far said improvsawrt asset all of the assessments amlleated
<br /> for said iznpravexmfrrt a?sal3 be applied to the payusnnt of the Hates and interest t}aerean
<br /> until bath are fully paid arxd t}u:reafter said assesa~aants s}aa3l be app3iod to the payment
<br /> of said bonds end iaterwst thereon,
<br />
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