35-93 Levying Special Assessments

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ORDINANCE NO. By: Boscia, Gallagher, George, Gibbons, Roth, Seelie, Smith Placed on FIRST R~ADING & Referred to the Finance Committee o 6/7/93. AN EMERGENCY ORDINANCE levying special assessments for the improvement of an approximately twenty (20) foot wide easement with its northern boundary located approximately twenty (20) feet north of the currently existing southerlyshore of Lake Erie in an area now submerged lands but formerly a part of the lots on the northerly side of Edgewater Drive from the easterly line of property now or formerly owned by the Unit Owners of the Lake House Condominium as tenants in common, and assigned as its address 11850 Edgewater Drive, westerly approximately 330 feet to the westerly line of said property, as set forth in Resolution No. 6637-91 adopted on September 16, 1991, by constructing thereon a breakwall with concrete modules, fill and end return. WHEREAS, this ordinance is an emergency measure which is necessary for the immediate Preservation of the public peace, property, health, safety and welfare in the City and for the further reason that the prompt issuance of bonds is necessary to preserve the credit of the City by retiring the outstanding notes issued in anticipation thereof and therefore the levy of assessments provided for herein and the commencement of the cash payment period should be effective at once; NOW THEREFORE, BE IT ORDAINED by the City of Lakewood, Cuyahoga County, Ohio: Section 1. The revised assessments for the cost and expense of the improvement of an approximately twenty (20) foot wide easement with its northern boundary located approximately twenty (20) feet north of the currently existing southerly shore of Lake Erie in an area now submerged lands but formerly a part of the lots on the northerly side of Edgewater Drive from the easterly line of property now or formerly owned by the Unit Owners of the Lake House Condominium as tenants in common, and assigned as its address 11850 Edgewater Drive, westerly approximately 330 feet to the westerly line of said property, as set forth in Resolution No. 6637-91 adopted on September 16, 1991, by constructing thereon a breakwall with concrete modules, fill and end return, pursuant to Resolution No. 6637-91 adopted on September 16, 1991, amounting in the aggregate to $372,000 , which were filed with the Clerk of Council on the 21st day of June, 1993 and are now on file in such office, be and the same are hereby adopted and confirmed and such revised assessments are hereby levied and assessed uponthe lots and lands benefitted and to be charged therewith as set forth in Section 6 of the aforesaid Resolution in the respective amounts set forth in the schedule of revised assessments, which assessments are in proportion to the special benefits and are not in excess of any statutory limitation. Section. 2. This Council finds and determines that the revised assessments now on file in the office of the Clerk of this Council are in the same proportion to the estimated assessments as originally filed as the actual cost of the above-described improvement is to the estimated cost of the improvement as originally filed. Section 3. The assessment against each lot or parcel of land shall be payable in cash within thirty (30) days after the passage of this Ordinance or at the option of the owner in twenty (20) annual installments with interest at the same rate as the City is obligated to pay on the bonds and notes issued in anticipation thereof to be issued in anticipation of the collection of said assessments. All cash payments shall be made to the Director of Finance of the City. All assessments and installments