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Resolution No. ~~ By fir. ~ f A RPsSOLUT ICN DECLARING IT NECESSARY TO IDIiFROVE SELHTJRST ROAD, ITS ENTIRE L~GTH, BY CQ~dSTRUCTING THEREIl3 A CATER MAIN. W~3EREAS Ov~e~a .o~'.~mQre.~tk~an: SO~u of the foot frontage of property on Selhurst Road, its entire length, have petitioned in writing for the improvement of said street by constructing therein a water line; now, therefore, BE IT RESOLVED by the Council of the Village of North Olmsted, Ohio; Section 1. That it is necessary to improve SelhurstRoad, its entire length, by constructing therein a water main in accord- ance with the plans and specifications prepared by the Village Engineer. Section 2. That the grade of said street shall be the grade-shown on the plans and specifications for said improvement, whi ch said grade and elevations are hereby confirmed and established as the grade of said street. Section 3. That the plans, specifications, estimates and profiles of the proposed improvement heretofore prepared by the Village Pn.gins er and now filed in the office of the Village Clerk be, anal the same are hereby, approved. Section 4. That the cost of said improvement shall be assessed by the foot frozit capon the following described .lots and lands, to wit, all lots and lands bounding and abutting upon the proposed improvement, which said lots and lands are hereby de- termined to be specially benefited by said improverrzent; and the cost of said improvement shall include the expense of preliminary and other surveys, of printing and publishing the notices, resolu- tions and ordinances required, the serving of said notices, the cost of construction, together with interest on notes or bonds issued in anticipation of the collection of deferred assessments and all other necessary expenditures. Section 5. That the assessments so to be levied shall be paid in ten annual installments, with interest not to exceed six per cent per annum on deferred payments, provided that the owner of any property assessed may, at his option, pay such assess- ment in cash within thirty days from and after the passage of the assessing ordinance, in which case said assessment shall not include any item of interest upon notes or bonds to be issued in anticipation of the collection of deferred installments of assess- ments. Section 6. That notes or bonds of the Village of North Olmsted shall be issued in anticipation of the collection of assessme~z.ts by installments and in an amount equal thereto. Section 7. This resolution shall take effect and be in force from and after the earliest period allowed by law. ,,,~ Pas s ed: / o , 1950 . C er yor /o ~, ~ ~ \`