The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1933-12-08
EMERCENCY ORDINANCES No. 33s5

Providing for the issue of bonds of the City
of Hamilton, Ohio, in the sum of $425.000
for the purpose of raising money to provide
the necessary funds to pay the cost and
expense of acquiring real estate for new
Municipal City Hall Building, to erect a
new Municipal City Hall Building to be
used for all municipal purposes and to fur
nish and equip the same. and repeating
Ordinance No. 1864. passed by Council OF
the City of Hamilton, Ohio. on June %
1888.
WHEREAS. The subject matter contained
herein constitutes an emergency in that ii
provides for the immediate preservation of the
public peace, property, health and safety of
the citizens of Hamilton the reason for said
emergency is the immediate necessity to pro-
vide funds to enable the City of Hamilton TO
participate in the federal work relief pro-
| gram and to receive the benefits of grants
from the federal government 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. it is necessary that this
| legislation go into immediate effect; and
WHEREAS, 1t is deemed expedient and for
| the public good to purchase additional ground
| for site for new Municipal City Hall
Building, and to construct, equip and fur
| nish Municipal City Hall Building in
the City of Hamilton. Ohio; and
WHEREAS, By the provisions of said M
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
| making loans to such municipalities to pay
the balance of the cost of such projects, un-
der certain conditions, restrictions and agree
ments in said act contained or promulgated
under the authority of and pursuant to the
provisions of said act: and
WHEREAS, The Council of the City OF
| Hamilton, Ohio, has determined that the cost
of acquiring additional real estate to be used
| us site for the new Municipal City Hall
i will ha ylr,Naf hnf
| the cost of erecting said building exclusive
| of any grant from the federal government
will be s277, and that the cost of fur
| nishing and equipping the same. exclu-
sive of any grant from the federal govern.
ment will be 5000; 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 acquir-
ed constructed, and the proceeds of the
bonds hereinafter referred to. and the Drec.
| tor of Finance has certified to this Council
such estimated life exceeding five years
and has further certified the maximum ma
turty of such bonds determined by the
weighted average 20 years.
| NOW. THEREFORE. BE 1T ORDAINED by
the Council of the City of Hamilton, Ohio
two-thirds of all members elected thereto con
curing:
SECTION I: 1t is hereby deemed necessary
| by the Council of the City of Hamilton, Ohio
to issue and sell bonds of said City in the
sum of $425,000 for the purpose of raising
money to provide the necessary funds to pay
the cost and expense of acquiring real estate
for Municipal City Hall Building, te
erect new Municipal City Hall Buildins
| to be used for all municipal purposes, ant
to furnish and equip the same, in excess o.
| such grant as may be made to the City ot
| Hamilton, Ohio. under the provisions of tn,
National Industrial Recovery Act" and alst
| for the purpose of providing fund to pay
the interest accruing on said bonds previous t.
the receipt of taxes from which such interes
is to be ultimately paid.
/ SECTION II: 1t is hereby determined t.
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. Ohio. shall be issued in tn
sum of $425. 900, which amount includes th
sum for interest maturing on said bond
previous to the receipt of taxes from whicl
such interest is to be ultimately paid fo
the purpose aforesaid. Each of said bond
shall be dated January l.. 1884. and shall bea
interest at the rate of four per cent. payabl
semi i-annually on the first day of April ant
October of each year until the principal sun
is paid. That said bonds shall mature a
follows: II bonds in denomination of s1.00
each on October lst of each year from 1913
to 1859. both inclusive, which maturities ar
hereby determined to be in substantially equa
annual installments. The principal and interes
of said bonds shall be payable at the office o
the Treasurer of the City of Hamilton, Ohio
or at such place may be designated by tn
United States of America. the proper in
strumentality thereof the purchaser of sal
bonds. Said serial bonds shall bear such con
secutive numbers the Director of Finance
or the proper officer of the City, shall de
termine. and shall be sold to the Federa
Emergency Administration of Public Work
of the United States of America withor
offering to competitive bidding, in the even
the Sinking Fund Trustees refuse to take tn
same, but in all other respects shall be ISSUED
executed and disposed of in accordance wit
the general laws of the State of Ohio, partis
ularly the Uniform Bond Act of the Genera
Code of Ohio.
SECTION ": Said bonds shall expires
upon their face the purpose for which the
are issued, that they are issued in pursuanc
of this ordinance and shall be signed by tn
City Manager and the Director of Financ
, and sealed with the corporate seal of sal
, City. The interest coupons attached to sal
! bonds shall bear the facsimile signature
: the Director of Finance.
: SECTION v: The proceeds from the sa
E of said bonds, except the sum included in II
: amount of the issues to the extent necessal
E to provide fund for the payment of IL
4 interest accruing said bonds previous
a the receipt OF taxes from which such intere
8 is to be ultimately paid. and the premiu
and accrued interest thereon. shall be Gre
0 tied TO the funds for the purpose of payir
n the cost and expense Of the improvement
set forth In Section of this ordinance. ar
j for no other purpose, and shall be- disburzs
y up0n proper vouchers for the purposo