The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1935-01-25
EMERGENCY ORDINANCE No. 1855


An Ordinance to borrow money L anticipation
OF The collection of current revenues IN ana
for the fiscal year 1855, for the following
fund of said City Of Hamilton Ohio, to-wlt
General Fund. and to issue notes therefor
WHEREAS. There exists an emergency
within the meaning Of the Charter OF tte 1lty
Of Hamilton. Ohio. recurring immediate PRO
vision for the daily operation q ai munlelpal !,
departments. the necessity theroi ies ~ Nie
fact that there is money IN the various
funds to pay the salaries Of the employees
or officers and other eNpenses and
WHEREAS There is estimated 70 be receiy-
IA from the next ensuing sem-annual settle
r,ent 81 taxes for such fiscal year estimated
bv the Budget Commission, other than taxes
% be received for the payment ~ deDt
charges and all advances, in the above men men
toned funds Of the City q Hamilt9h, ONO
the sum OF $59,45l.5li and
WHEREAS At the present time the above
mentioned funds Of the City Of Hamilton ONO,
are exhausted and
WHEREAS, There II not sufficient money Y
said fnnd Of the City for the payment oil sal
aries and other expenses in said funds and
WHEREAS, ii IS necessary that said money
be available for the payment q salaries ana
other expenses before the distribution q sara
taxes in March, 1885;
THEREFORE,, BE Ir ORDAINED hy the
Council Of the City Of Hamilton, Ohio all
members elected thereto coneurring:
SECTION I That it is deemed necessary
that the City Of Hamilton, Ohio, borrow the
sum Of S26725.s5 aud issue notes therefor IN
anticipation OF the collection Of current rev
enues in and for the fiscal year 1885, Tor said
general fund OF the City Of Hamilton, ONO;
and in anticipation OF the collection OF sald
sum for said general fund purposes IN said
CITY and which sum does not exceed one-hall
Of the amount estimated 70 be received from
the next ensuing semi-annual settlement 81
taxes for such fiscal year as estimated ey the
Dtt,ltr mi
received for the payment Of debt charges and
all advances
SECTION II: That notes Of said City be
;eenad III the sun1 of S26 725 So in anticipation
of the collection Of current revenue for said
general fund of said City of Hamilton, Ohio,
in the year 1885 Said notes shall be signed
by the City Manager and the Director OF
Finance Of said City, and sealed with the cor
porate seal Of said City. They shall express
apon their face that they issued in antici-
patton Of the collection Of current revenues
in the fiscal year $50 for the general funds
of said City of Hamilton, Ohio. and in antici-
patton Of the collection of said sum for general
fund purposes in said City, and that they are
issued in pursuance Of this ordinance and IN
accordance with Section 2293-4 "A the General
Code Of Ohio. Said notes shall be issued IN
such denominations may be determined by
the Director of Finance and the Clty Man
aper and shall be numbered consecutively
from one to the total number Of notes issued.
Said notes shall be dated the date on which
they shall be issued, and they shall be issued IN
such amounts ana aL 5ucn time ana stlNlt run
for period OF not te exceed SIX months, ana
said notes shah bear interest at the rate Of not
to exceed six per cent as determined hy the
Director of Finance and the City Manager Said
notes shall not be sold for less than par and
accrued interest. That for the purpose Of
paying the principal and interest of said notes,
that such sum as may be necessary out Of the
collection Of the next sen-annua distribution
of taxes in the sum of S26.725.S5 with interest
and out Of the proceeds af the taxes dis
tributed in March, 1885, for the general fund
of said City Of Hamilton, Ohio be and the
same is hereby appropriated and applied to
the payment of the principal and interest of
said notes. and the Director of Finance is here
by authorized 10 apply out Of the proceeds Of
said next semi-annual distribution Of taxes from
the general fund of said City, sufficient funds
| for the payment Of the principal and interest
of said notes, and the funds derived from the
sale of said notes are to be placed to the credit
of the general fund Of the City Of Hamilton.
Ohio.
SECTION III: That the faith. revenue and
credit of the City of Hamilton, Ohio. are
hereby pledged for the prompt payment of both
principal and interest Of the notes hereinabove