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<br />CITY OF NORTH OLMSTED
<br />ORDINANCE N0. 70-89
<br />
<br />AN ORDINANCE AUTHORIZING THE ISSUANCE OF BONDS IN
<br />ANTICIPATION OF THE COLLECTION OF SPECIAL ASSESS-
<br />MENTS TO PAY THE PROPERTY OWNERS' PORTION AND ALSO
<br />TO PAY THE CITY'S PORTION OF THE COST OF CONSTRUCT-
<br />ING CERTAIN SANITARY SEWER IMPROVEMENTS AND IMPROVING
<br />PORTIONS OF SOUTIERN AVENUE, DECKER ROAD AND MIDVALE
<br />AVENUE BY PAVING AND OTHERWISE IMPROVING THE SAME,
<br />AND DECLARING AN EMERGENCY.
<br />WHEREAS, Council has heretofore declared the necessity of constructing the
<br />improvements described in Section 1 hereof; and
<br />WHEREAS, notes in the aggregate principal amounts of $725,000, $138,600 and
<br />$150,000 were issued pursuant to Ordinances Nos. 70-61, 69-217 and 70-63, respec-
<br />tively, in anticipation of the bonds herein authorized, which notes are about to
<br />mature; and
<br />WHEREAS, the Director of Finance, as fiscal officer of this City, has here-
<br />tofore certified the estimated life of the improvements and the maximum maturity
<br />of the bonds proposed to be issued;
<br />NOW, THEREFORE, BE IT ORDAINED by the Council of the City of North Olmsted,
<br />Cuyahoga County, Ohio:
<br />Section 1. That it is hereby declared necessary to issue bonds of the City
<br />of North Olmsted, Ohio, in the principal sum of $599,000 in anticipation of the
<br />collection of special assessments heretofore levied to pay the property owners'
<br />portion and also to pay the City's portion of the cost of constructing the follow-
<br />ing improvements, the amount of such bonds allocated to each improvement being as
<br />follows:
<br />Improvement
<br />Sewer Contract 12 -- Improving Dover Center Road,
<br />Porter Road, Martin Drive, North Park Drive, East
<br />Park Drive, West Park Drive, Douglas Drive, Alden
<br />Drive, Evergreen Drive, Willet Drive, Broxbourne Road,
<br />Wellesley Avenue, Whitehaven Avenue, Elmhurst Road,
<br />Lorain Road, Ranchview Avenue, West Ranchview Avenue,
<br />and certain public easements between certain termini
<br />by constructing sanitary sewers, sewer curb connections
<br />and necessary appurtenances, including a force main and
<br />sewage lift station, necessary street resurfacing and
<br />restoration of drainage facilities, all as provided in
<br />Resolution No. 68-142, adopted September 3, 1968.
<br />Sewer Contract 11 -- Constructing sanitary sewers,
<br />sewer curb connections and necessary appurtenances,
<br />including necessary street resurfacing and restoration
<br />of drainage facilities in Porter Road, Martin Drive,
<br />Jenkins Road and easement over to Lansing Drive,
<br />Lansing Drive, North Park Drive and easement to Sher-
<br />wood estates treatment plant, Oring Road, and a trunk
<br />sewer in public easements running from a point in
<br />Porter Road 548 feet northwesterly of Martin Drive
<br />northerly and easterly approximately 4,728 feet to
<br />the Dover Center Lift Station, as provided in Resolu-
<br />tion No. 68-84, adopted May 21, 1968.
<br />Assessment City's
<br />Portion Portion
<br />$364,515
<br />$ -0-
<br />86,790
<br />-0-
<br />
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