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RESOLUTION NO. 1$20 BY: :'SIR. SCHVJENK RESOLUTION DECLARING IT NECESSARY TO IMPROVE ~~1ALTER ROAD FROM GESSiJER ROAD TO FLORENCE AVENUE 3Y CONSTRU CTING THEREIN A STATER I~iAIN ~tHEREAS, the owners of sixty per cent of the foot frontage of property on i~alter Road from Gessner Road to Florence Avenue, have petitioned in writing for the improvement of said street by constructing therein a water main; NOW THEREFORE BE IT RESOLVED BY THE COUNCIL OF THE CITY OF NORTH OLi~STED , OHIO, THREE-FOURTHS OF ALL iv'i`Ei'fIBERS ELECTED THERETO CONCURRIPIG .Section 1. That it is deemed necessary and conducive to the public health, convenience and welfare that ~}lalter Road from Gessner Road to Florence avenue be improved by constructing therein a water main 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 Director of Public Service be, and the same are hereby, approved. Section 4. 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 im- 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 with interest on notes or bonds issued in anticipation of col- lection of deferred assessments and all other necessary expenditures. Section 5. That the assessments so to be levied shall be paid in ten annual installments, with interest not to exceed six per cent per annum on deferred payments, provided that the owner of any property assessed rnay, at his option, pay such assessment in cash within thirty days from and. after the passage of the assessing ordi- nance, in which case said assessment shall not include any item of interest upon notes or bonus to be issued in anticipation of the col- lection of deferred installments of assessrilents. Section 6. That notes or 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 . Section 7. This resolution shall tcke effect and be in force from and after the earliest period allowed by law. PASSED : P~Zarch l~s, 1952 ATTEST• E. ~~I. C ri man, ounci Ar~~r~ovED : arence J. viatt, i~iayor ~~'~°~~