90-81 Property owners portion - improve streets BAN

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ORDINANCE NO. 90-81 By: Brown, Gallagher, Graham, McBride, Salmon, Wendling AN EMERGENCY ORDINANCE authorizing the issuance of bonds of the City of Lakewood, Ohio, for the purpose of paying the property owners' portion, in anticipation of the collection of special assessments heretofore levied, of the cost of improving certain streets in the City of Lakewood, Ohio, by 'the necessary grading of the base, resurfacing with asphaltic concrete including the necessary replacement and resetting of castings together with the necessary appurtenances thereto. WHEREAS, the Council of the City of Lakewood has heretofore by proper legislatiom determined to proceed with the improvement of the streets hereinafter designated by the necessary grading of the base, re- surfacing with asphaltic concrets including the necessary replacement and resetting of castings together with the necessary appurtenances thereto; and WHEREAS, the Director of Finance has issued his certificate as to the estimated life of the improvement and the maximum maturity of the bonds hereinafter referred to, and the Director of Fimance has certified to this Council such estimated life as exceeding five (5) years and has further certified the maximum maturity of such bonds as twenty (20) years; and WHEREAS, this Council by two-thirds (2/3) vote of the members elected thereto determines that this ordinance is an emergency measure which is necessary for the immediate preservation of the public peace, property, health and safety and for the further reason that the bonds herein authorized must be immediately issued to eliminate additional interest expense to the City; NOW, THEREFORE, BE IT ORDAINED by the Council of the City of Lakewood, Cuyahoga County, State of Ohio: Section 1. That it is hereby declared necessary to issue b~nds of the City of Lakewood, Ohio, in the principal amount of $7,092.37 for the purpose of paying the property owners' portion, in anticipation of the collection of special assessments heretofore levied, of the cost of improving certain streets in the City of Lakewood, Ohio, by the necessary grading of the base, resurfacing with asphaltic concrete, including the necessary replacement and resetting of castings together with the neces- sary appurtenances thereto, between the termini and in the manner provided in the following resolutions as amended: Termini Resolution of Necessity Amending Resolution No. Adoption Date No. Adoption Date Waterbury, Madison to Bramley 5362 Jan. 15, 1979 5388 April 2, 1979 Detroit to Railroad 5427 Dec. 3, 1979 5467 May 5, 1980 Thrush, Halsted to Quail Lark to Magee 5427 Dec. 3, 1979 5467 May 5, 1980 Clifton Place 5427 Dec. 3, 1979 5467 May 5, 1980