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ORDI~IA~I'CE NO. 32-71
<br />
<br />BY: Messrs. Ward, Wendling, Gaydos,
<br /> Graber, Huffman, Kelley, Usher
<br />
<br /> AN ~.~RGENCy ORDIN~'ICE to provide for the issuance of bonds to pay
<br />the City's portion of the cost of improving certain streets in the City of
<br />Lakewood, Ohio, by the necessary grading of the base, resurfacing with
<br />asphaltic concrete, including the necessary replacement and resetting of
<br />castings and the necessary resetting and replacing of curbs.
<br />
<br /> WIiEREAS, this Council by two-thirds vote of the members elected
<br />thereto determines that this ordinance is an emergency measure which is
<br />necessary for the immediate preservation of' the public peace, property,
<br />health and safety and for the further reason that the immediate issuance
<br />and sale of the bonds herein authorized is necessary to enable the City
<br />to preserve its credit by retiring at their maturity the outstanding notes
<br />issued in anticipation of the bonds herein authorized; and
<br />
<br /> %~HERFAS, The City has heretofore issued $330,093 of its 'notes
<br />for the purpose of paying the City's portion~of the cost of improving
<br />certain streets as hereafter mentioned; and
<br />
<br /> WHEREAS, the City desires to fund the City portion of the notes
<br />issued for the 1966 through 1969 street improvements; s.nd
<br />
<br /> WHEREAS, there is now available a sum of at least $30,093 surplus
<br />and such $30,093 is therefore to be applied to-the retirement of the prin-
<br />cipal of such notes; and .'
<br />
<br /> WHEREAS, the Director of Finance, as Fiscal Officer, has certified
<br />that the maximum maturity of the bonds proposed to be issued and the estimated
<br />life of the improvements described hereinafter is not less than twenty years;
<br />
<br /> NOW, TKEREFORE, BE. IT 0RDA~IEDbythe Council of the City of
<br />Lakewood, in the County of Cuyahoga and State of Ohio:
<br />
<br /> Section 1. That it is deemed necessary to issue bonds of said City for t'
<br />purpose of paying the City's portion of the cost of improving (i) Andrews
<br />Avenue, Cliffdale Avenue, Donald Avenue, Fdgewater Drive, Lakeland Avenue,
<br />Lark Street, Orchard Grove Avenue, Park Place, Ridgewood Avenue, Leedale
<br />Avenue, Robin Street, Rosewood Avenue, and Rosalie Avenue; (ii) Abbieshire
<br />Avenue, Cove Avenue, Granger Avenue, Hopkins Avenue, Idlewood Avenue, Lake-
<br />land Avenue, Nicholson Avenue, llorthwood Avenue, Norton Avenue, Phelps
<br />Avenue, Sylvan Avenue and Woodford Avenue; (iii) Beach Avenue, Brockley
<br />Avenue, Cranford Avenue, Crest Lane, Fry Avenue, Lakewood Avenue, ~.~rs
<br />Avenue, Rockway Avenue, and Wayne Avenue and tlighland Avenue pursuant to
<br />agreement with Cuyahoga County; ~nd (iv) Bonnie View Avenue, Dowd Street,
<br />Edwards Avenue, ~tagee Street, ~.larlowe Avenue, Quail Street, Ramona Avenue,
<br />and Sumunit Avenue, by the necessary grading of the base, resurfacing with
<br />asphaltic concrete and replacing and resetting of curbs together with the
<br />necessary appurtenances thereto, between the termini and the manner pro-
<br />
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