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CITY OF NORTH OLMSTED <br />ORDINANCE NO. 68- J A^ <br />} <br />BY <br />E <br />AN ORDINANCE AUTHORIZING THE CITY <br />ENGINEER TO ACCEPT A BOND FOR $2, 000. 00 <br />IN LIEU OF A BOND FOR $20, 000. 00, AND <br />DECLAR.ING AN EMERGEIVCY. <br />WHEREAS, the City Engineer has advised Council that the developer, <br />Fairway Land Company, of Tree Lane Subdivision No. 2, has installed fifty <br />per cent or more of the sidewalks needed in the aforesaid subdivision ; and <br />WHEREAS,the City Engineer has further advised Council that a bond <br />in the amount of $2, 000. 00 will protect the City , and further will adequately <br />compensate the City for the installation of sidewalks yet to be installed in the <br />Tree Lane Subdivision No. 2, in the event it is necessary for the City to install <br />the sidewalks as originally set forth on the plot plan ; and <br />WHEREAS, Council now wishes to permit a reduction in the face amount <br />of the aforesaid bond. <br />NOW, THEREFORE, BE IT ORDAINED by the Council of the City of North <br />Olmsted, State of Ohio: <br />Section 1. That the City Engineer is now authorized to instruct the <br />developer of Tree Lane Subdivision No. 2, to furnish a bond in the amount of <br />$2,000.00. <br />Section 2. That this Ordinance is hereby declared to be an emergency <br />measure necessary for the public peace, health, safety and welfare of the Cfty <br />of North Olmsted by virtue of the fact that the develQper must have immediate <br />permission if he is to be successful in obtaining the reduction of the bond. <br />WHEREFORE, this Ordinance shall take effect and be in force immediatdly upon <br />its passage, otherwise, at the earliest period allowed by law. <br />PASSEDI?,? ??? ??v iY <br />; <br />? <br />ATTEST: <br /> <br />Florence Holm, Clerk of Council <br />f <br />< <br />. ( <br />Francis J. O' N'eill, P sident of Council <br />APPROVED: ?? 714 /' <br />L ? <br />Ralph V. Christman, Mayor <br />osfec? 9??%8'