The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1933-09-15
ORDINANCE No. $3.50

An Ordinance to issue bonds in anticipation
the Improvement of Hayes Avenue. from
Benninghofen Avenue to point les feet
east of Pleasant Avenue. in Lindenwald
Sanitary Sewer District No. l, Subdistrict
"B." and Hayes Avenue. from Benninghofen
Avenue to Madison Avenue, in Lindenwald
Sanitary Sewer District No. l, Subdistrict
&C." in the City Of Hamilton. Ohio. by con-
structins sanitary sewers, house ;connec-
tions. manholes. lamp holes. flush tanks.
etc, where necessary.
WHEREAS. This Council has requested the
Director of Finance to issue his certificate as
TO the estimated life of the property assessed
the improvement proposed to be acquired
or constructed from the proceeds of bonds
hereafter referred to- and
WHEREAS. The Director of Finance has
certified to this Council the estimated life
OF said Improvement as % years and has
further certified the maximum maturity of
the bonds hereinafter provided for 25
years and
WHEREAS. This Council estimates that
tax for said bonds will first appear the
duplicate for the tax year 1888, and that the
final tax settlement with the County Treasurer
next following the inclusion of tax for this
issue in the annual budget by the County
Auditor. provided by law. will be obtained
not earlier than the 18th day of September.
1884
of Ohio:
SECTION /: That for the purpose of rails
ing money in anticipation of the collection
of special assessments for the improvement
of Hayes Avenue. from Benninghofen Avenue
to point l65 feet east of Pleasant Avenue
in Lindenwald Sanitary Sewer District No. l.
subdistrict 3D." and Hayes Avenue. from
Benninghofen Avenue to Madison Avenue. in
Lindenwald Sanitary Sewer District No. /.
Subdistrict &C." in the City of Hamilton
Ohio. by constructing sanitary sewers. house
connections. manhoes. lamp holes, flush tanks.
etc. where necessary bonds of said city shall
be issued in the amount of $2,I81.60. In
cluded in said amount is the of s9s.17
for the payment of not to exceed one years
interest on said bonds. Said bonds shall be
designated Hayes Avenue Improvement
Bonds Property Owners Portion; shall be
| in such denomination determined by the
Director of Finance and Council; shall be
dated October /. 1888; shall draw interest at
the rate of four and one-half (41a) per cent
| per annum, payable semi-annualiy the
! first day OF April and October of each year
upon the presentation and surrender of inter
est coupons to be attached to said bonds. bear
| iny the facsimile signature of the Director
of Finance; shall be due and payable fol-
lows: s3sl60 October l, 1885, and $4,000
on October lst in the years 1885 to 1914 both
| inclusive. which maturities are hereby deter
mined to be in substantially equal annual in
| stallments
| by the Director of Law. signed by the City
Manager and the Director of Finance. sealed
with the City Seal and recorded in the office
of the Sinking Fund Trustees shall express
upon their face the purpose for which they
are issued. and the fact that they issued
pursuant to law and this ordinance; shall be
1
| office of the Director of Finance of the City
| of Hamilton. Ohio shall be issued and sold
under the direction of the Director of Finance
| and Council and shall bear such consecutive
| numbers said Director of Finance and
Council. or the proper officers of the City.
| may determine
bonds any premiums and the accrued interest
| realized therefrom shall be paid to the Sink
ing Fund Trustees. The par value realized
| from the sale of said bonds shall be placed
| in the City Treasury to the credit of the
| Hayes Avenue Special Assessment Bonds Fund
| and shall be disbursed from said fund
| proper vouchers in payment of the expense
of the Improvement aforesaid and to the
| payment of the notes heretofore issued for
said purpose and the interest thereof. for
which purpose said money is hereby appro-
priated.
SECTION ": That all installments of
said assessments and all portions thereof.
piled to the payment of said bonds and inter
est as the same shall become due. and to no
other purpose whatsoever.
SECTION v: That the faith revenue and
credit of the City of Hamilton. Ohio. are
hereby pledged for the prompt payment of
10th principal and interest of the bonds
hereinbefore described in accordance with the
Laws and Constitution of the State of Ohio.
/ SECTION VI: That for the purpose of
providing the necessary fund to pay the in
terest on the foregoing issue of bonds prompt
ly when and as the same falls due, and also
to create and maintain fund sufficient to
discharge the said bonds at maturity. there
shall be and Is hereby levied on all the tax
! able property of the City of Hamilton, Ohio,
in addition to all other taxes, direct tax
annually during the period for which said
, bonds are to run in an amount sufficient
to provide fund to pay interest upon said
bonds and when the same fall due and
! also to provide for the discharge of the prin-
cipal of said serial bonds at maturity, which
, tax shall not be less than the interest and
Sinking Fund tax, required by Section ii OF
Article VII of the Constitution. Provided
however, that in each year that the assess.
, ments anticipated by said bonas are payable
, , and applicable to the payment of such
interest and principal and appropriated
for such purpose the amount of such tax
shall be reduced by the amount of the
ment appropriated.
: That said tax shall be and is hereby ordered
! computed. certified. levied and extended upor
!. the tax duplicate and collected by the same
Officers in the same manner and at the same
time that the taxes for general purposes fol
each of said years certified, extended
z and collected. Said tax shall be placed before
and in preference to all other items, ant
for the full amount thereof. All funds derived
from said levies hereby required shall b.
placed in a separate and distinct fund which
! together with all interest collected on tn,
same shall be irrevocably pledged for tn
said bonds when and the fall due
SECTION VII: This ordinance shall TAX
effect and be In force from and after tn,
: earliest period allowed by the Charter Of tn
}. City of Hamilton. Ohio.
al Passed: September 6. 1888.
s Attest: ADELE EDMONDs.
o Clerk Of Council.
Il Sent I6-lt