The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1933-09-15
ORDINANCE No. 1919

An Ordinance to issue bonds TO pay the cost
and expense of acquiring real estate SO as
to continue Fair Avenue. from Welsh Ave.
nue. to Hancock Avenue, m the Ciy Va
Hamilton, Ohio.
WHEREAS. The Council has requested the
Director of Finance to issue his certificate as
10 the estimated life of the property assessed;
or the Improvement proposed to be scduirea aa
or constructed from the proceeds OF bonds
hereinafter referred to: and
WHEREAS, The Director of Finance has
certified to this Council the estimated lie Oh
said Improvement twenty-hve t25) years,
and has further certified the maximum ma
turity of the bonds hereinafter provided as
twenty-five t25l years and
WHEREAS This Council estimates that
tax for said bonds will first appear on the
duplicate for the tax year 1884. and that the
final tax settlement with the County treasurer
next following the inclusion OF tax lot
this issue in the annual budget by the County
Auditor as provided by law. will be obtained
not earlier than the 18th day of September
1885. =.
the Council of the City of Hamilton, State OF
Ohio:
to issue bonds of the City of Hamilton, ONO.
in the principal sum of s3.200.OO in order to
provide fund for the purpose OF acquiring
real estate to continue FAR Avenue
from Welsh Avenue to Hancock Avenue; IN
the CITY of Hamilton. Ohio. and to provide a
fund for the payment of not to exceed one
years interest on said bonds; that such bonas
shall be issued in lot and that anticipatory
notes shall not be issued in anticipation OF
the issuance of such bonds. ~
SECTION II: That bonds of the City OF
Hamilton, Ohio. shall be issued in the prln-
cipal sum of SO 10000 for the purpose afore-
said Said bonds shall be designated as FAIR
Avenue Extension Bonds, shall be in such
denomination as determined by the Director OF
Finance and Council: shall be dated October
l. 1888 shall draw interest at the rate of
AZ per cent per annum. payable semi
annually on the ist day of April and October
of each year upon the presentation and sur
render of interest coupons to be attached to
said bonds bearing the facsimile signature OF
the Director of Finance. and shall be due ana
payable as follows $4,000 on October ist
in each of the years 1885 to 1914. both in
elusive, which maturities are hereby deter.
mined to be in substantially equal annual
installments.
pared 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. sna,
express upon their face the purpose for which
they are issued and the fact that they are
issued pursuant to law and this ordinance
shall be payable both principal and interes,
at the 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 sucf
consecutive numbers said Director OF
Finance and Council or the proper officer
of the City. may determine
SECTION ~: Upon the sale of said bonds
therefrom shall be paid to the Sinking Fund
Trustees. The par value realized from th'
sale of said bonds shall be placed in the cit,
treasury to the credit of the Fair Avenue
Extension Fund. and shall be disbursed from
said fund on proper vouchers in payment o.
the expense of the Improvement aforesaid
and for such purpose saiG money is hereby
appropriated.
SECTION v: That the faith. revenue ant
credit of the City of Hamilton. Ohio. ar
hereby pledged for the prompt payment o
both principal and interest of the bond
hereinbefore described in accordance with tn
Laws and Constitution of the State of Ohio.
SECTION W. That for the purpose 0
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 ais
to create and maintain fund sufficient +
discharge the said bonds at maturity. ther
shall be and is hereby levied on all the tax
able property of the City of Hamilton. Ohio
in addition to all other taxes. a direct ia,
annually during the period for which sat
bonds are to run In an amount sufficient :
provide fund to pay interest upon said bond
as and when the same fall due and also
provide for the discharge Of the princips