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Resolution No. .~~ <br />By Mr . ~~~~; <br />A RP~SOLIITIC~T <br />DBCLARING IT NBCBSSARY TO IPQPROVB PORTF~R ROAD, b'RQB~ LORI-IN <br />ROAD TO TI3E NORTH LIN B OF THE S. S . 3CHBRRBR ~'RQPI+~i.`~Y, BY <br />C ~T STRU QP ING THBRBIN A 1{~AT 8R MAIN . <br />WHERBAS ~ers~_~~~~moa'e~: ;, of the foot frontage <br />_,~ of property on Porter Read, from L®rain R®ad to th® n®rth line <br />of the S. S. Scherrer property, base petitioned in writing for <br />'~"~ the improvement of said street by constricting therein a water <br />main; now, therefore, <br />BE TT RESOLVED by the Council of the Village of <br />North Olmsted, Ohio, three-fourths of all members elected <br />thereto concurring; <br />Section 1. That it is necessary to improve Porter <br />Road, from Lorain Road to the worth line of the S. S. Scherrer <br />property, by constructing therein a water main, it1 accordance <br />with the plans and specifications prepared by the Village <br />Begin a er. <br />Section 2. That the grade of said street sha11 be <br />the grade shown on the plans and specifications for said improve- <br />ment , which said grade and elevations are hereby confirmed and <br />established as the grade of said street. <br />Section 3. That the plans, specifications estimates <br />and profiles of the proposed improvement heretofore prepared <br />by the Village B<igineer and now filed in the office of the <br />Village Clerk be, and the same are hereby, approved. <br />Section 4. That the cost of said improvement shall <br />be assessed by the foot front upon the foliow3ng described <br />lots and lands, to wit, all lots and lands bouxtding and abutting <br />upon the proposed improvement, which said lots and lands are <br />hereby determined to be specially benefited by said improv®- <br />meet; and the cost of said improv~aent shall include the <br />expense of preliminary and other surveys, of printing and <br />publishing the notices, resolutions and ordinances required, <br />the serving of said notices, the cost of construction, to- <br />gether with interest on notes or bonds issued in anticipation <br />of collection of deferred assessments and all other necessary <br />expenditures. <br />Section 5. That the assessments so tv be levied <br />shall be paid in ten annual installments, with interest not <br />to exceed six per cent per annum on deferred payments, provided <br />that the owner of any property assessed may, at his option, <br />pay such assessment in cash within thirty days from ~d after <br />the passage of the assessing ordinance, in which ease said <br />assessment sha11 not include any item of interest upon notes <br />or bonds to be issued in anticipation of the collection of <br />deferred installments of assessments. <br />'~~" Section 6. That notes or bonds of the Village of <br />,~~- North Olmsted shall be issued 3.n anticipation of the collection <br />of assessments by installments and in an amount equal thereto. <br />Section 7. This resolution sha11 take effect and be <br />in force from and after the earliest period allowed by law. <br />Passed; ~, 1950. <br />ayor <br />~ ~I~ o <br />3l` ~ <br />