Label
FIN LEVY 2023 SIDEWALKS
Division of Treasury
R. Martinez (x1653)
Title
Levying special assessments for the 2023 Sidewalk Program; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
This is the Ordinance to levy the assessments for the cost and expense for the repair or construction of new sidewalks in the City of Toledo for the 2023 sidewalk program. The services described in Section 1 have been completed and the final cost of those services has been determined.
Summary
NOW THEREFORE Be it ordained by the Council of the City of Toledo:
SECTION 1. That the revised special assessments for the cost and expense for the repair or construction of new sidewalks in the City, pursuant to and as described in Resolution No. 622-22, passed December 20, 2022, and Ordinance No. 96-23, passed March 21, 2023, amounting in the aggregate to ($1,530,413) One million Five hundred Thirty thousand Four hundred Thirteen Dollars, which were filed with the Clerk of Council on February 21, 2023, and are on file in his office, are adopted and confirmed. Those special assessments are levied and assessed upon the lots and lands as provided in this ordinance (attachment) in the respective amounts set forth in the schedule of special assessments on file, which special assessments are in proportion to the special benefits and are not in excess of any applicable limitation.
SECTION 2. That the special assessment against each lot or parcel of land shall be payable in cash within 30 days after the passage of this Ordinance, or at the option of the owner in ten annual installments (twenty semi-annual installments) with interest at the same effective fixed rate as borne by the notes issued in anticipation of the collection of the special assessments, taking into consideration any related interest rate exchange transactions. All cash payments shall be made to the Commissioner of Taxation and Treasury of this City. All special assessments remaining unpaid at ...
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