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CITY OF NORTH OLMSTED <br />RESOLUTION N0. 82 - 70 <br />PAGE 2 <br />SECTION 7: That the City Engineer is hereby authorized and <br />directed to prepare and file in the office of the Clerk of this Council the <br />estimated assessments of the cost of the imarovement described in this <br />resolution. Such estimated assessments shall be based upon the estimate of <br />cost of said improvement now on file in the office of the Clerk of this Council <br />and shall be prepared pursuant to the provisions of this resolution. When such <br />estimated assessments have been so filed, the Clerk of this Council shall cause <br />notice of the adoption of this resolution and of the filing of said estimated <br />assessments to be served on the owners of all lots and lands to be assessed as <br />provided by law. <br />SECTION 8: That the assessments to be levied shall be paid in <br />ten annual or twenty semi-annual installments, with interest on deferred <br />payments at the same rate as shall be borne by the bonds to be issued in <br />anticipation of the collection thereof; provided that the owner of any property <br />assessed may, at his option, pay such assessment in cash within thirty (30) <br />days after passage of the assessing ordinance. <br />SECTION 9: That bonds of the City shall be issued in <br />anticipation of the collection of assessments by installments, and in an amount <br />equal thereto and notes of said City shall be issued in anticipation of the <br />issuance of such bonds and the levy of such assessments. That portion of the <br />cost of said improvement which is not paid from Federal, State, or County funds <br />or from the special assessments shall be paid by the City from funds available <br />for that purpose or from the proceeds of bonds or bond anticipation notes issued <br />for such purpose. <br />SECTION 10: It is found and determined that all formal actions <br />of this Council concerning and relating to the adoption of this resolution <br />were adopted in an open meeting of this Council, and that all deliberations of <br />this Council and of any of its committees that resulted in such formal action, <br />were in meetings open to the public, in compliance with all legal requirements <br />including Section 121.22 of the Ohio Revised Code. <br />SECTION 11: That this resolution shall take effect and be in <br />force from and after the earliest period allowed by law. <br />PASSED: ? <br />ATTEST: <br />FLORENCE E. CAMPBELL, CL K OF COUNCIL C?AMES D. BOEHMER, PRESIDE T OF COUNCIL <br />=o: ? ??-- <br />?/?? -?..:.? . <br />Fi rst readi ng : <br />Second reading: ?. <br />Third reading: ?-