The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1934-03-02
EMERGENCY RESOLUTION No. 1887

Approving the amendment to the loan agree
ment dated February /, 1884, between the
City of Hamilton, Butler County, Ohio, and
the United States of America, and author
izing and directing the City Manager 10 ex-
ecute said amendment to said loan agree
ment with the Federal Government under
the provisions of the National Industrial
Recovery Act to defray the expense OF re-
constructing, extending, enlarging, inn
proving and repairing the Waterworks of
the City of Hamilton, Ohio. for supplying
water to the corporation and the inhabi-
tants thereof, P. w. A. Docket No. I43S.
WHEREAS, The Federal Government has
submitted an agreement amending the loan
agreement dated of Febuluary l. 1884, en-
tered into by and between the City of Hamll-
lton Butler County, Ohio and the United
States of America under the provisions of the
National Industrial Recovery Act, and per-
tanning to the reconstructing, extending, en-
larging, improving and repairing of the water
works of the City of Hamilton, Ohio, for sup
plying water to the corporation and the in
habitants thereof. P. w. A. Docket No. l43S ;
and
WHEREAS, Said agreement amending said
loan agreement is file in Council; and
WHEREAS, The subject matter contained
herein constitutes an emergency, IN that IT
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
begin work said project in order to pro-
vide necessary work for the unemployed in
accordance with the purpose and spirit of the
N. /. r. A.
THEREFOR, BE TT RESOLVED by the
Council of the City of Hamilton, Ohio:
SECTION 1: That the agreement amend
ing the loan agreement dated as of February
L, 1884, entered into by and between the City
of Hamilton, Butler County, Ohio, and the
United States of America. pertaining to
grant and loan to the City of Hamilton.
Ohio, by the United States of America for
reconstructing, extending, enlarging, improv-
ing and repairing the waterworks of the City
of Hamilton Ohio, for supplying water to the
corporation and the inhabitants thereof, known
as P. w. A. Docket No 143s. be and the
same is hereby approved and adopted
SECTION II: That the City Manager be
and he is hereby authorized and directed
to execute on behalf of the City with the
United States of America the following agree
ment:
AGREEMENT dated as of.......................
1884, 1894 amending M :, the LOAN AGREEMENT, A6aa
he daeed CITY OF OF 1884 BMR 9sfTfsR
COUNTY, OHIO (herein called the
"Borrower'l. and the UNITED STATES
OF AMERICA therein called the Govern
ment")
WHEREAS, The Loan Agreement dated as
of February l, 1884, has been entered into
by and between the Borrower and the Gov
ernment; and
WHEREAS, By virtue of the amendment to
necessary to amend the description of the Sc
curity of the Bonds, set forth in PART
ONE. Paragraph e. Sub-paragraph (h), of
the said Loan Agreement
IT is HEREBY AGREED by and between
the Borrower and the Government, that PART
ONE, Paragraph g Sub-paragraph (hl, of
said agreement which reads follows:
Security: General obligations of Borrow
er payable to both principal and inter-
est from ad valorum taxes that may be
levied within the Is mill Constitutional
and Statutory limit upon all the taxable
property within the territorial limits of
the Borrower
be and hereby is amended to read as
follows
Security: General obligations of the
Borrower payable as to both principal and
interest from adj valorum taxes which
may be levied upon all the taxable prop
erty within the territorial limits of the
Borrower. within the limits imposed by
law (being not less than the Borrowers
proportion of the Constitutional limit of
10 mills upon each dollar of assessed val
uation of taxable property as determined
by the County Budget Commission), out
of the proceeds of which tax, debt service
payments are entitled to priority"
IN WITNESS WHEREOF, The CITY OF
HAMILTON, BUTLER COUNTY, OHIO, and
the UNITED STATES OF AMERICA have
respectively caused this Amended Agreement