62-017 Resolution - Laserfiche WebLink

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Resolution No. 62 - /~ Page 2 Section 2: That the r~rade of said street as improved shall be the existing grade as shown by the Engineerts plans and profiles which are made a part hereof and the grade therein established is hereby confirmed as the established grade. Section 3: That the plans, specifications, estimates and profiles of the proposed improvement heretofore prepared by the Engineer and now on file in the office of the Director of Public Service be, and the same are hereby approved. Section 4: That one-half the entire cost of said improvement shall be assessed by the front foot upon all lands bounding and abutting upon the proposed improvement within the corporate limits of the city of North Olmsted, Ohio, which said lots and lands are hereby determined to be specifically benefited by said improvement and the cost of said improvement shall include the expense of preliminary and other surveys of printing and pub- lishing notices, resolutions and ordinances, the serving of said notices, the cost of construction, together with interest on notes and bonds issued in anticipation. of the collection of deferred assessments and all other necessary expenditures. Section 5: That the assessments to be so levied shall be paid in ten (10) annual installments with interest on de- ferred payments at the same rate as shall be borne by the bonds to be issued in anticipation of the collection thereof; provided that the owner of any property assessed. may, at his option, pay such assessment in cash within thirty (30) days after the passage of the assessinff ordinance. Section 6: That bonds of the City of North Olmsted shall be issued in anticipation of the collection of assessments by installments and in an amount equal thereto, and also to pay the Cityts portion of the construction of said improvement, and notes of said City shall be issued in anticipation of the issue of said bonds. Section 7: This resolution is hereby determined to be an emergency measure necessary for the preservation of public health, safety and welfare by reason of the fact that the construction of sanitary sewers on Walter Road has resulted in damage or destruction of the water supply for certain of the pro- perties abutting on Walter Road. Section 8: Wherefore, this Ordinance shall take effect immediately from and after its passage, otherwise, at the earliest period. allowed by law. .--~ PASSED: ~-~2~c-,ers-. ~a /,~E ~. v~~ ~.; ATT Louise Hall, Clerk of Council APPROVED: ~ _.~ -~„v'' '~ ~~t~ ~~ ~ ~ Paul J. areau, Mayor L~ Bruce MacDonald, President of .Council