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Resolution No. ~ ~ Z 8 By ivlr . A RESOLUTTC~1 DECLARING I'i' NIsCESSARY TO I~TPROVE GE.53~T ER ROAD, FR0~2L ORAIN ROAD TO ~tALTER ROAD, BY CONSTRUCTING THERE7IV A '~YATER ~AAII[~TT . WHEREAS the owners of 60jo or more of the foot frontage of property on Gessner Road, from Lorain Road to V~falter Road, have petitioned in writing for the improvement of said street, between said points, by constructing therein a Mater main; now, therefore, BE ST RESQI,V~ by the Council of the Village of North Olmsted, Ohio: Section 1. That it is necessary to improve Gessner Road, from Lorain Road to 4Yalter Road, by constructing therein a water main in accordance with the plans and specifications pre- pared by the Village r~.gineer. Section 2. That the grade of said street shall be the grade shown on the plans and specifications for said im- provernent, which said grade and elevations are hereby confirmed and established as the grade of said street. Sec Lion 3. That the plans, specifications, estimates and profiles of the proposed improvement heretofore prepared by the Village ~.gineer ar~d now filed in the office of the Village Clerk be, and the same are hereby , approved, Section 4. That the colt of said improver~.ent shall be assessed by the foot front upon the following described lots and lands, to wit, all lots and lands bounding, anal 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 improvement shall include the expense of pre- liminary and other surveys, of printing and publishisig the notices, resolution and ordinances required, the serving of said notices, the cost of construction, together with interest on notes or bonds issued in anticipation of the collection of deferred assessments and all other necessary expenditures. Section 5. r~'hat the assessmments s o to be levied s'nall be paid in ten annual installments, with interest not to exceed six ~~er cent per annum on deferred payments, provided that the owner of any property assessed may, at his option, pay such assesszment in cash taithin tx~.irty days from and after the passage of the assassin, ordinance, in which case said assessment shall not include any iter_z of interest upon notes or bonds to be issued in anticipation of the collection of deferred install- ments of assessrilents. Section 6. That notes or bonds of the Village of forth Olmsted shall be issued in anticipation of the collectio~1 of assessments by installments and isa. an amount equal thereto. Section 7. This resolution shall take eft°ect axed be in force from and after tine earliest period a1loV~ed by law. Passed: April 18, 1950. ,~ '~~' 1/Lto .....~.._ ~---- Cler Mayor ~ ~ J /J~ ~ t 100 - '~ r ..~ .. .~~~,..~.~,~~ .. ~~~~_~A~.