The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1933-12-08
Advertise in The Press.
ORDINANCE No. 1894

Providing for the issue of bonds of the City
of Hamilton, Ohio, in the sum of $62O,ooo
for the purpose of raising money to provide
the necessary funds to pay the cost ana
expense of reconstructing, extending. eniarg-
ing, improving and repairing of the Water
works of the City of Hamilton Ohio. for
inhabitants thereof. and repeating Ordinance
No. 1857, passed by Council of the City OF
Hamilton, Ohio, June 28, 1888.
WHEREAS, 1t is desirable to participate in
the federal work relief program, and to receive
the benefit of grants from the federal gov
ernment in accordance with the terms of the
National Industrial Recovery Act and to
make it possible for the City of Hamilton to
provide work for the unemployed and
WHEREAS. BY the provisions of said ma.
tional Industrial Recovery Act financial aid
is offered by the government of the United
States to municipalities for the making of
grants not to exceed 80 per cent of the cost
of the labor and material employed upon
municipal Improvement projects, and by max
ing loans to such municipalities to pay the
balance of the cost of such projects, under
certain conditions, restrictions and agreements
in said act contained or promulgated under
the authority of and pursuant to the pro-
visions of said act; and
WHEREAS, The Council of the City of
Hamilton, Ohio has determined that the cost
of reconstructing, extending, enlarging, i'm
proving and repairing the waterworks of the
City of Hamilton, Ohio. by the drilling OF
waterworks building and installing therein the
necessary pumping and other equipment, the
construction of a complete water softening
plant of coagulation basin and of new
reservoir. and the construction of force
mains and distribution mains IN the
existing distribution system, both within and
without the corporate limits OF the CITY, ana
all for supplying water to the City and the
| inhabitants thereof. in excess of the 3o|t
grant from Federal Government be raised
| by the issuance of bonds and
WHEREAS, The Council has requested the
Director of Finance to issue his certificate
| as to the estimated life of the property
assets or improvement proposed to be acquired
or constructed, and the proceeds of the bonds
| hereinafter referred to, and the Director OF
Finance has certified to this Council sucn
estimated life as exceeding five years and has
| further certified the maximum maturity OF
such bonds 40 years.
| NOW. THEREFORE, BE 1T ORDAINED
by the Council of the City of Hamilton, Ohio
/ two-thrds of all members elected theretf
| concurring:
| SECTION /. It is hereby deemed neces
| sary by the Council of the City of Hamilton
| Ohio. to issue and sell bonds of said CITY
| in the sum of $620,000 for the purpose OF
| raising money to provide the necessary funds
| to pay the cost and expense of reconstructing
| extending, enlarging, improving and repairing
| of the waterworks of the City of Hamilton
Ohio. by the drilling of new supply wells; tn
construction of new waterworks buildini
| and installing therein the necessary pumpinf
| and other equipment, the construction oil
complete water softening plant OF coaguia
ton basin and of a reservoir, and tn'
construction of force mains and new dis
tribution mains in the existing distributor
| system, both within and without the cor
porate limits of the City. and all for supply
ing water to the City and the inhabitant
thereof in excess of such grant as may b.
made to the City of Hamilton Ohio. unde
the provisions of the National 1ndustria
Recovery Act" and also for the purpose o
providing fund to pay the interest accru
ing on said bonds previous to the receipt o
taxes from which such interest is to be ulti
mately paid.
SECTION H. 1t is hereby determined +
proceed with the issue of said bonds in on
lot and without issuing notes in anticipation
| of the issue of said bonds.
SECTION III: That serial bonds of tn
City of Hamilton shall be issued in the sur
of S620000 which amount includes the sur
for interest maturing on said bonds previou
to the receipt of taxes from which such in
, terest is to be ultimately paid for the pun
pose aforesaid. Each of said bonds shall b
dated January i. 1884. and shall bear inter
est at the rate Of four per cent. payabl
semi-annually on the first day of April an
October of each year until the principal sur
Is paid. That said bonds shall mature 9
, each on October 1st of each of the years fror
: the denomination Of $1,000 each on Octobs
! both incluaive, which maturities are hersh