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RESOLUTION N0. 1$50 <br /> <br />BY: DR. LE~tIS A RESOLUTION DECLARING IT NECESSARY <br />TO INIFROVE STERNS ROAD FROM E~tD OF <br />EXISTING MAIN TO SOUTHERLY CITY LINE, <br />BY CONSTRUCTING THEREIN A STATER MAIN <br />W~iEREAS the owners of more than 60~ of the foot frontage of <br />property on Stearns Read from end of existing main to southerly <br />City line hate petitioned in writing for the improvement of said <br />street by constructing therein a water main. <br />NOWT, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF <br />NORTH OLMSTED, OHIO: <br />S~~t That it is nee®ssary to improve Stearns Road from <br />end of ®uia main to southerly City line, by cQn~etructimg therein <br />a water main in accordance with the plans and specifications pre- <br />pared by the City Engineer. <br />Section 2. That the grade of said street shall be the grade <br />shown on the plans and specifications for said improvement, which <br />said grade and elevations are hereby confirmed and established as <br />the grade of said street. <br />~~ i ,~ That the plans, speeificati®ns, estimates and pro- <br />fileso the pr®posed improvement heretofore prepared by the City <br />Engineer and nmw filed in the office of the City Clem be, and the <br />same are hereby, approved. <br />Section_!~ That the cost of said improvement shall be assessed <br />by the foot front. upon the follov~ing described lots and lands, to wit, <br />all lots and lands bounding and abutting upon the proposed improvement, <br />which said lots and lands are hereby determined to be specially <br />benefited by said improvement; and the Bost of said improvement shall <br />include the expense of preliminary and other surveys, of printing and <br />publishing the notices, resolutions and ordinances required, the serv- <br />ing of said notices, the cost of construction, together with interest <br />on notes or bonds issued in anticipation of the collection of deferred <br />~ssessnents and all other necessary expenditures. <br />Section 5. That the assessments so to be levied shall be paid <br />in ten annual installments, with interest not to exceed six .per cent <br />per annum on deferred payments, provided the owner of any property <br />assessed may, at his option, pap such assessment in cash within thirty <br />days from and after the passage of the assessing ordinance, in which <br />case said assessment shall not include any item of interest upon notes <br />or bonds to be issued in anticipation of the collection of deferred <br />installments of assessments. <br />Section 6. That notes or bonds of the City of forth Olmsted <br />shall be issued in anticipation of the collection of assessments by <br />installments and in an amount ®qual thereto. <br />Section 7. This resolution shall take effect and be in force <br />from and after the earliest period allowed by law. <br />PASSED : September 2 , 19 52 <br />ATT ~ ~.~~ <br />. Christen , o Dune: <br />APPROVED <br />arenee ~viatt, ayor <br />~~~~ <br />9~ <br />. ,. . ...... VY/f'~'i...+e+M.~nc YI!Pi-f`e` r i N: ~ -. i <br />