(a) Council hereby establishes the policy that it will assume an additional seven percent of the total cost beyond the two percent required by Ohio R. C. 727.05 for full paving improvement projects which include grading, draining, curbing and paving with seven-inch concrete surface or eight-inch water-bound macadam base with a two and one-half inch asphaltic surface.
(b) Such additional seven percent contribution in addition to the two percent statutory requirement as set forth in Ohio R. C. 727.05, shall be further limited in any given calendar year by the total sum allocated to street improvements in the Master Capital Improvement Ordinance in that calendar year.
(c) The payment of the additional seven percent of the total cost beyond the statutory two percent shall be further limited by proper petitions presented to Council, on the date established by Council in any given calendar year, as provided by Section 903.01 hereof. Such petitions requesting full paving projects set forth in subsection (a) hereof shall be received in the office of the Clerk of Council before the date established by Council as the date that Council will consider petitions entitled to the additional seven percent contribution.
(Ord. 14-69. Passed 2-17-69.)