1995 028 Resolution (2) - Laserfiche WebLink

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RESOLUTION NO. 95- 2 8 PAGE 2 Section 5. The cost of the improvement shall include the cost of preliminary and other surveys, plans, specifications, profiles and estimates and of printing, serving and publishing notices, resolutions and ordinances, the amount of any damages resulting from the improvement and the interest thereon, the costs incurred in connection with the preparation, levy and collection of the special assessments, the cost of purchasing, appropriating, and otherwise acquiring any real estate or interests therein required for the improvement, expenses of legal services including obtaining legal opinions, cost of labor and material, and interest on securities issued in anticipation of the levy and collection of the special assessments, together with all other necessary expenditures. Section 6. Stephen Hovancsek & Associates, Inc. is authorized and directed to prepare and file in the office of the Clerk of Council the estimated special assessments of the cost of the improvement described in this resolution. Those estimated special assessments shall be based upon the estimate of cost of the improvement now on file in the office of the Clerk of Council and shall be prepared pursuant to the provisions of this resolution. When the estimated special assessments have been so filed, the Clerk of Council shall cause notice of the adoption of this resolution and the filing of the estimated special assessments to be served in the manner provided by (aw on the owners of all lots and lands to be assessed. Section 7. The special assessments to be levied shall be paid according to the following payment schedule: in twenty annual installments, with interest on the unpaid principal amount of each special assessment at the same rate or rates of interest as shall be borne by the securities to be issued in anticipation of the collection of the total of the unpaid special assessments; or, if such securities are not issued, at the rate or rates of interest determined by this Council when it passes the assessing ordinance levying those special assessments; provided, that the owner of any property assessed may pay the special assessment in cash within 30 days after passage of the assessing ordinance. Section 8. The Village presently intends to issue securities in anticipation of the levy of the special assessments. The Village presently intends to issue securities in anticipation of the collection of the special assessments in annual installments and in an amount equal to the total of the unpaid special assessments. The remainder of the entire cost of the improvement, after application of the special assessments, shall be paid by the issuance of bonds in the manner provided by law or from other funds available for that purpose; provided that, if any portion of the cost of the improvement is financed pursuant to an agreement between the Village and the Ohio Water Development Authority, then bonds and notes shall not be issued to finance that portion of the cost of the improvement and the special assessments to be levied to pay costs of that portion of the improvement financed through the Ohio Water Development Authority shall be paid in twenty annual installments, with interest on the unpaid principal amount of each such special assessment at the same rate as the Village shall be obligated to pay under such agreement. Section 9. This Council finds and determines that all formal actions of this Council concerning and relating to the adoption of this resolution were adopted in an open meeting of this Council and that all deliberations of this Council and of any of its committees that resulted in those formal actions were in meetings open to the public, in compliance with the law. Section 10. This resolution is declared to be an emergency measure necessary for the immediate preservation of the public peace, health and safety of the Village, and for the further reason that this resolution is required to be immediately effective to provide for the