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RESOLUTION N0. ~ ~ .-, BY: RESOLUTION DECLARING IT NECESSARY TO INIPROVE.LUCYDALE AVENUE FROM NORTHERLY LINE OF SUBLQT NO. 1~.0 TO .KENNEDY RIDGE BY GRADING AND SLAGGING SAME. WHEREAS, the owners of sixty per cent of the foot frontage of property on Lucydale Avenue from northerly line of Sublot No. 1~0 to Kennedy Ridge have petitioned in writing for the improvement of said street between the points aforesaid by grading and slagging same. NOW, THEREFORE, t3E IT RESOLVED BY THE COUTJCIL OF THE CITY OF iJOR~i'H OLI4TSTED , . OHIO ~ THREE-FOURTHS OF ALL NTEviBERS ELECTED THERETO CON- CURRING; Section 1. That it is deemed necessary and conducive to the public health,-convenience and welfare that Lucydale Avenue z"rom north- erly line of Sublot No. 40 to Kennedy Ridge,-be improved by grading and slagging same in accordance with the plans and specifications pre- pared by the City Engineer. Section 2. That the grade of said street shall be the grade shown on the plans and specifications for said improvement, which said grade and elevations are hereby confirmed and established as the grade of said street. Section 3. That the plans, specifications, estimates and profiles of the proposed improvement heretofore prepared by the City Engineer and now filed in the office of the llirector of Public Service be, and the same are hereby approved. Section 1~.. That the cost of said improvement shall be as- sessed by the foot front upon the following described lots and lands, to wit, all lots and lands bounding and abutting upon the proposed improvement, which said lots and lands are hereby determined to be specially benefited by said improvement; and the cost of said m- provement shall include the expense of preliminary and other surveys, of printing and publishing the notices, resolutions and ordinances required, the serving of said notices, the cost of construction, to- gether vaith interest on notes or bonds issued in anticipation of collection of deferred assessments and all other necessary expendi- tures. Section 5. That the assessments so to be levied shall be paid in dive annual installments, with interest not to exceed .six per cent per annum on deferred payments, provided that the owner of any property assessed may, at his option, pay such assessment in cash within thirty days from and after the passage of the assessing ordinance, in which case said assessment shall not include any item of interest upon notes or bonds to be issued in anticipation of the collection of deferred installments of assessments. Section 6. That notes or bonds of the City of North Olmsted shall be ~.ssued in anticipation of the collection of assessments by .~ installments and in an amount equal thereto. Section 7. This resolution shall take effect and be in force from an d after the earliest period allowed by law. AT^1EST: . ._._.__.__. e.__..~ ~I. hristman, "~ounc: ArPROVED arence ~ iatt, ayor >\~`', ~~~ ,.