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RESOLUTION: NO. 1994. BY: Mr. Biker. RESOLUTION DECLARING IT NECESSARY TO IMPR©VE LOUIS DRIVE ITS ENTIRE LENGTH, BY CONSTRUCTING THEREIN A WATEx MAIN. W.~iEREAS, the o wners of sixty per cent of the foot frontage of property on Louis Drive its entire length, have petitioned in writing fer the improvement of said street by constructing therefor a water main, NOW, THEREFORE, BT IT RESOLVED BY THE COUNCIL OF THE CITY OF NORTH OI~SSTED, STATE OF OHIO, three-fourths of all members elected thereto concurring:: Ssction,ls, That it is deemed necessary sad conducive to the public ea t ,convenience and welfare that Louis Drive its entire length, be imtproved by constructing therein a water main in accordance with the plans and specifications prepared by the City Engineer. Section 2• That the grade of said street shall be the grade shown 0n t e~p ans and specifications for said ig-provem®nt, which said grade and elevations are hereby confirmed and established as the grade of said street. Sectit~n That the plans, specifications, estimates and profiles oft e 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 ~._ That the cost of said improvement shall be assessed byy~e ~ oot front upon the follo~wi.ng described lots sad lands, to-wit, all lots and lands bounding and abutting upon the proposed im- provement, which said lots and lands are hereby determined to b e specially benefited by said improvement; and the cost of said istprove- ment 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 n©tes or bonds i:sued in anticipati®n of col- lection of deferred ass®ss~aents and all other necessary expenditures. 3oection That the assessments so to be levied shall be paid in ten annua installffients, with interest not to exceed six per cent per aanum.on deferred payments, provided that the owner of any property assessed may, at his option, pay such assessment in cash within thirty days fro m and after the passage of the assessing ordi- nance, in which ease said assessment shall not include any it~a of interest upon notes or bonds to be issued in anticipation of the collection of deferred installments of assessments, Section 6s That notes or bonds of the City of l+torth Olmsted shall be issued ~r~ anticipation of the collection of assessments by installments and in an am©unt equal thereto. Section ' This resolution shall take effect and be in force from and ante t e earliest period allowed by law. PASSED: June 15. 1954 ATTEST:. - ,~' R. istman, erk of Council APPROVED; ~A harles ~ s, yor