The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1933-05-26

constructed from the proceeds of the bonds
hereinafter referred to. the Director of Finance
has certified TO this Council such estimated
life as ten years and has further certified
the maximum maturity of such bonds as five
years and
WHEREAS. This Council estimates that q
tax for said bonds will first appear upon the
duplicate for the tax year 1888. and that final
tax settlement with the County Auditor 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 first day of September. 1884.
BE 1T ORDAINED by the Council Of the
City OF Hamilton. Ohio two-thirds OF the
members thereof concurring:
Section L: That for the purpose of raising
money in anticipation of the collection of spe-
cial assessments for the improvement of
Hunt Avenue, from kenworth Avenue 10
Lawson Avenue,
Central Avenue, from Long Street north.
North side of Long Street. from Central
Avenue west, and.
North Second Street at House No. $780,
in the City of Hamilton. Ohio, by constructing
concrete sidewalks. concrete curb and gutter
and doing the necessary grading, TO be PAID
for in whole by special assessments, bonds OF
said city shall be issued in the amount OF
Sl.76l.3I. Included in said amount is the sum
of S26l3 for interest maturing previous TO re-
ceipt of taxes from which said interest is to
be paid Said bonds shall be in such denomi-
nation as determined by the Director of
Finance and Council shall be dated June l.
1888, and shall be due and payable s241.3l on
the years 1885 to 1898, both inclusive. and
shall draw interest AT the rate of Az per cent
per annum. payable on June lst and Decem-
ber lst of each year, upon presentation and
surrender of interest coupons TO be attached
to said bonds bearing the facsimile signature
Of the Director of Finance
Section II: Said bonds shall be prepared
by the Director of Law. signed by the City
Manager and Director of Finance, sealed with
the City Seal and recorded in the office of the
Sinking Fund Trustees shall express upon
fhafr faaa tha for
issued and the fact that are issued pursuant
TO law and this ordinance; shall be payable.
both principal and interest. 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 Coun-
ell and shall bear such consecutive numbers
as said Director of Finance and Council. or
the proper officers of the City may determine
Section III: That upon the sale of said
bonds any premiums and the accrued interest
realized therefrom shall be paid TO the Sinking
Fund Trustees. The par value realized from
the sale of said bonds shall be placed in the City
Treasury TO the credit of the Sidewalk I'M
provement Fund and shall be disbursed from
said fund on proper vouchers IN payment oil
the expense of the improvement aforesaid and
to the payment of the notes heretofore issued
for said purpose and the interest thereon, for
which purpose said money Is hereby appro-
priated
Section w. That all installments of said
assessments and all portions thereof, together
with interest thereon, shall be applied TO the
same shall become due, and to no other pur-
pose whatsoever.
Section ": That the faith, revenue and
credit of the City of Hamilton Ohio,
hereby pledged for the prompt payment of
both principal and interest of the bonds herein
before described in accordance with the Laws
and Constitution of the State of Ohio
Section vi: That for the purpose of pro-
viding the necessary fund TO pay the interest
the foregoing issue of bonds promptly when
and the same fall due, and also TO create
a ta;r, snlYi fund IN
discharge the said bonds at maturity, there
shall be and is hereby levied on all the tax
able property of the City of Hamilton ONO,
in addition to all other taxes. a direct tax
annually during the period for which said
bonds are TO run in amount sufficient 10
provide fund 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 XII of the Constitution. Provided,
however, that in each year that the assess
ments anticipated by said bonds are payable
and are 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 assessment so
appropriated
That said tax shall be and is hereby order
ed computed. certified, levied and extended
upon the tax duplicate and collected by the
same officers. in the same manner and at the
same time that the taxes for general purposes
for each of said years are certified, extended
and collected Said tax shall be 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 distinct fund which.
together with all interest collected the
same, shall be irrevocably pledged for the
payment of the interest and principal of
said bonds when and 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-lt