The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1933-05-26
Hamilton Ordinances
ORDINANCE No. 3344

An ordinance TO issue bonds in anticipation
of the collection of Special Assessments for
the Improvement of BrOugh Avenue. from
Benning ghofen to Van-Hook Avenue. in part
of Sub-district b, Lindenwald Sanitary sewer
District No l. in the City of Hamilton, Ohio'
by constructing sanitary sewers. house con-
nections, manholes, lamphoies, hshtanks'
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
or the improvement proposed to be acquired
or constructed from the proceeds oil oohos
hereafter referred to ; and
WUEREAS The Director Of Finance has
certified TO this Council the estimated life oil
said improvement as 20 years ana mas lurtheI ts
certified the maximum maturity oil the 9o"uS
hereinafter provided for as 20 years ana
WHEREAS, This Council estimates that
tax for said bonds will first appear on the
duplicate for the tax year 1888, and that the
final tax settlement with the County Treas
urer next following the inclusion of tax for
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
1884.
NOW THEREFORE, BE TT ORDAINED by
the Council of the City of Hamilton. State OF
Ohio: ..
section /: That for the purpose OF raising
money in anticipation oi me colleetloh "
Brough Avenue, from Benninghofen Avenue
to Van Hook Avenue. IN part OF SuD-olstrle'
b Lindenwald Sanitary Sewer District NO L.
in the City of Hamilton. Ohio. by constructhg
sanitary sewers house connections, manholes
lampholes, fiushtanks, etc, where necessary
bonds of said City shall be issued IN the
amount of s2.l63.30. Included IN sald amount
is the sum of S48.67 for interest maturing pre-,
vious to the receipt of taxes from when sald
interest is TO be paid. SAID bonds shali De ues-
ipnated as Brough Avenue improvement Bonus
property Owners Portion: shall be IN sucn
denomination as determined by the Director oil
Finance and Council, shall be dated June l.
1898: shall draw interest at the rate OF 4t2
ner cent per annum, payable seml-annually on
H. 6rst dav of June and December of each
wear upon the presentation and surrender ol
interest coupons to be attached TO said pohos'
bearing the facsimile signature oi the Difec-
tor of Finance shall be due ana payape 10
follows: S2I9.30 on December /, 1884, anu
$4,000 on December lst in the years 1889 10
l943 both inclusive, which maturlIies are
hereby determined to be IN SUBSTANTIALLY eq"''
annual installments.
Section IL: Said bonds shall be prepared by
the Director of Law, signed by the olty MAJ man1
ager and the Director OF FINANCE. seaieu
with the City Seal and recorded in the otnce
Of the Sinking Fund Trustees shall express
npon their face the purpose for which they are
issued and the fact that they are issued pur-
suant to law and this ordinance. sfai the
office of the Director of Finance OF the Olty
of Hamilton. Ohio. shall be issued anu soiu
under the direction of the Director OF FINANCE
and Council and shall bear such consecutive
numbers as said Director of Finance ana
Council. or the proper officers of the city
may determine. ia
Section III: That upon the sale oil It salt
bonds any premiums and the accrued interest
realized therefrom shall be paid TO the SINK,
ing Fund Trustees. The par value realzeo
from the sale of said bonds shall be placed
in the City Treasury 10 the credit OF tne
Rrough Avenue Special Assessment BONDS
Fund and shall be disbursed from sand funo
on proper vouchers in payment oil 1ne lo eS
pense of the improvement aforesaid ana " Siie
h. here
said purposes and the interest thereof, foi
which purpose said money is hereby appro
priated ;.
assessments and all portions thereof, together
with interest thereon, shall be applied TO the
navment of said bonds and interest as the
same shall become due, and 10 no other pur-
pose whatsoever.
Section v: That the faith, revenue and
credit of the City of Hamilton. Ohio, are
hereby pledged for the prompt payment OF
both principal and interest ana OF the pot.bs tbs
hereinbefore described in accordance with the
Laws and Constitution of the State OF ONO.
Section VI: That for the purpose of pro-
viding the necessary fund to pay the lhtefest
en- the foregoing issue of bonds promptly when
and as the same falls due, and also 10 create
end maintain fund sufficient to discharge the
said bonds at maturity. there shall be ana Is
hereby levied on all the taxable property OF
the CITY of Hamilton, Ohio, in addition TO all
other taxes a direct tax annually during the
period for which said bonds are TO run IN
an amount sufficient TO proViue iuHu 10 pay
interest upon said bonds as and when tne
same fall due and also to provide for the
discharge of the principal 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 XII of the Constlto-
ton. Provided however. that in each year
that the assessments anticipated by said bonds
are payable and are applicable to the pay
ment of such interest and principal and are
appropriated for such purpose, the amount OF
such tax shall be reduced by the amount OF the
assessment appropriated
That said tax shall be and is hereby
ordered computed certified, levied and ex-
tended upon the tax duplicate and collected by
the same officers, in the same manner ana
at the same time that the taxes for ge1eral
purposes for each of said years are certined
extended and collected. Said tax shall De
placed before and in preference to all other
items and for the full amount thereof. All
funds derived from said levies hereby required
shall be placed in a separate and distnct
fund from which together with all interest
collected on the same shall be irrevocably
pledged for the payment of the interest and
principal of said bonds when and as the
same fall due.
Section VII: This ordinance shall take effect
and be in force from and after the earliest
period allowed by law.
Passed May II. 1888. r. H. BURKE. Mayor
Attest: ADELE EDMONDS Clerk of Council
May 26-1t