The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1936-10-30
ORDINANCE No. 1861

An Ordinance to issue bonds in anticipation OF
iha collection of special assessments for the
improvement of Fair Avenue, from We'si.
Avenue fo Hancock Avenue, in the tiiy Oh
Hamilton Ohio by grading and graVeihg
The roadway thereof constructing curb ana
gutter on both sides Of said street and con,
Structing sidewalk the west side OF sald
street from Welsh Avenue to Hancock Ave
WHEREAS. This Council has requested the
nireefar of Finance to issue his certificate as
to the estimated life q the improvement con eon
struetsd from the proceeds 81 bonds hereaiter
referred to and
WHEREAS. The Director Of Finance has Ger,
ti6ed to this Council the estimated life OF said
improvement as ten f10) years and has further
certified the maximum maturity OF the pohos
hereinafter provided for rs ten ~ years
and
WHEREAS. This Council estimates that tax
for said bonds will first appear on the duphcate
for the tax year $685. and that the hnal taA
settlement with the County treasurer @ nexe
following the inclusion Of tax for TINS issue
in the annual budget by the County Auditor
as provided by law. will be obtained not carrier
than the 18th day Of September, 1881.
NOW THEREFORE,. BE IT ORDAINED by
the Council of the City OF Hamilton, state
SECTION i: That for the purpose of rais--
ing money in anticipation Of the collection OF
| special assessments for the Improvement Q, o.
Fair Avenue from Welsh Avenue to Hancock
Avenue in the City OF Hamilton, ONO, by grad
inp and graveling The roadway thereof. con-
structing curb and gutter on both sldes OF
said street and constructing sidewalk on the
vest side of said street, from Welsh Avenue
ID Hancock Avenue. bonds Of said city shail be
issued III the amount Of S3.864.44 SAID nonds
Shall be designated as Fair Avenue improve
raent Bonds Property Owners Portion shall be
in such denomination determined by the
Director 81 Finance: shall be dated November
L 1896 shall draw interest at the rate of
four f4l per cent per annum, payable semi
annually on the lst day Of May and NoVem-
her Of each year upon the presentation ana
surrender Of interest coupons to pc attached
to said bonds bearing the facsimile signature
Of the Director Of Finance; shall be due and
payable as follows: $26444 on November |.
937, and 90 on November ist IN each OF
the years from 1898 to 1916, both inclusive,
which rnaturities are hereby determined to be
in substantially equal annual nstallments.
SECTION II Said bonds shall be prepared by
the Director of Law signed by the City Man
aeer and the Director of Finance. sealed with
the City Seal and recorded in the office of
tn. Sinking Fund Trustees shall express upon
their face the purpose for which they are issued
and the TACT that they 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 direc-
| ton of the Director Of Finance, and shall bear
| such consecutive numbers said Director OF
Finance 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 thereffom 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 Fair Avenue
| Improvement Bonds Fund and shall be dis
bursed from said fund proper vouchers in
payment Of the expense Of the Improvement
aforesaid and to the payment of the notes here
tofore issued for said purpose and the interest
| thereof. for which purpose said money is hereby
appropriated
| SECTION ~: That all installments Of said
| assessments and all portions thereof together
| with interest thereon, shall be applied to the
payment Of said bonds and interest ais the same
shall become due, and to no other purpose
whatsoever.
/ SECTION y: 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 bonds hereinbe-
| fore described in accordance with the Laws
and Constitution Of the State Of Ohio
/ SECTION VI: That for the purpose Of pro-
! vidinp the necessary fund to pay interest on
| the foregoing issue Of bonds promptly when
| and as the same falls due. and also to create
and maintain fund sufficient to discharge at
| maturity there shall be and is hereby levied on
/ all the taxable property of the City Of Hamilton,
Ohio in addition to all other taxes, direct tax
annually during the period for which said bonds
| are to in amount sufficient TO provide
fund to pay interest upon said bonds as
and when the same fall due and also to pro-