The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1933-12-08

determined to be In substantially equal annual
installments. The principal and interest o.
said bonds shall be payable at the office oi
or at such place may be designated by the
United States of America the proper
instrumentality thereof, the purchaser Of said
bonds. Said serial bonds shall bear such con.
secutive numbers as the Director of Finance
or the proper officer of the City, shall de.
termine and shall be sold to the Federal
Emergency Administration of Public Works
of the United States of America withou'
offering to competitive bidding. in the event
the Sinking Fund Trustees refuse to take the
same, but in all other respects shall be issued
executed and disposed of in accordance with
the general laws of the State of Ohio. par
ticularly the uniform bond act of the General
Code of Ohio
SECTION ": Said bonds shall express
upon their face the purpose for which they
are issued. that they are issued in pursuance
of this ordinance, and shall be signed by the
City Manager and the Director of Finance
City. The interest coupons attached to said
bonds shall bear the facsimile signature OF
the Director of Finance.
SECTION v: The proceeds from the sale
of said bonds, except the sum included in the
amount of the issues to the extent necessary
to provide a fund for the payment of the
interest accruing on said bonds previous tc
the receipt of taxes from which such interest
is to be ultimately paid, and the premium
and accrued interest thereon. shall be credited
to the funds for the purpose of paying the
cost and expense of the improvement SET
forth in Section l of this ordinance, and for
! no other purpose, and shall be disbursed upon
proper vouchers for the purpose aforesaid
for which purpose said money is hereby appro-
priated.
SECTION VI: For the purpose of providing
the necessary funds to pay the interest on the
foregoing issue of bonds promptly when and
as the fall due, and also to provide Q
fund sufficient to discharge the said seria
bonds at maturity, there shall be and /.
hx~nl nlxxr s14 pn nf To- In
erty of the City of Hamilton. Ohio. direct
tax annually during the period of the tim'
such bonds are to run. in an amount suffi
cient to provide funds to pay the interes
upon said bonds as and when the same fall.
due. and also to provide fund for the dis
charge of the principal of said serial bonds
at maturity, which taxes shall not be less
than the interest and sinking fund tax re
quired by Section ii. Article XII, of the Con
stitution of Ohio. Said tax shall be and i.
hereby ordered computed and certified. leviet
and extended upon the tax duplicate. col
lected by the same officials in the same man
ner and at the same time the taxes for genera
purposes for each of said years certified
extended and collected Said tax shall b'
and for the full amount thereof. The funds
derived from said tax levy hereby required
shall be placed in separate and distinct
fund which together with the interest col.
lected on the same shall be irrevocaby pledged
for the payment of principal and interest on
said bonds when and the same fall due.
Provided, however, that in each year that
surplus earnings of the waterworks system
are applicable to the payment of such inter
est and principal and are appropriated fol
such purpose, the amount of such tax shall
be reduced by the amount of such surplus
earnings appropriated
SECTION VII: Ordinance No. 1867, passed
by Council June %, 1888. be and the
same is hereby repealed.
SECTION VIII: The Clerk of Council is
hereby directed to forward a certified copy
of this ordinance to the County Auditor.
SECTION TX: This ordinance shall go into
effect thirty days after its passage.
Passed November 49, 1888.
R. H. BURKE, Mayor.
Attest: ADELE EDMONDS,
Clerk of Council.
Dec Sit