The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1936-10-30

SECTION /: That for the purpose of raising
money in anticipation of the collection of spe-
cial assessments for the Improvement of
South Fifth Street, at House No. 71S,
State Street. between High Street and Court
House,
North D Street, at House No 459 and 7l5,
and corner of Main and D,
Prytania Avenue, at House No 603 612 and
in the City Of Hamilton, Ohio. by constructing
concrete sidewalks. concrete curb and gutter,
and doing the necessary grading, to be paid for
+ in whole or by special assessments. bonds of
in whole or by special assessments bonds of
said city shall be issued in the amount Of
$361.92 Said bonds shall be in such denomna-
tion determined by the Director of Finance
shall be dated November /, 1885, and shall be
due and payable S61. 80 November l. 1897
and $500 on November lst in the years 1888
to 1871, both inclusive. and shall draw interest
at the rate of four per cent per annum, payable
May lst and November LIST of each year upon
presentation and surrender of interest coupons
to be attached to said bonds bearing the fac
simile signature of the Director of Finance
SECTION II Said bonds shall be prepared
by the Director of Law, signed by the City
Manager and the Director of Finance sealed
with the City seal and recorded in the office
! of the Sinking Fund Trustees shall express
upon their face the purpose for which they
are issued and the fact that are issued pur-
suant 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 direction of the Director of Finance
and shall bear such consecutive numbers as said
Director of Finance, the proper officers of
the City may determine
! SECTION ILL., That upon the sale of said
bonds any premiums and the accrued interest
realized therefrom 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 Sidewalk Improve
ment Fund and shall be disbursed from said
tund on proper vouchers in payment of the
expense of the Improvement aforesaid and to
o fn,.
said purpose and the interest thereon, for which
purpose said money is hereby appropriated
| SECTION " That all instaments of said
assessments and all portions thereof, together
with interest thereon, shall be applied to the
payment of said bonds and interest as the same
shall become due and to no other purpose
whatsoever
/ SECTION v: That the faith revenue and
credit of the City of Hamilton, Ohio, are hereby
pledged for the prompt payment of both prin-
cipai and interest of the bonds hereinbefore
described in accordance with the laws and
| Constitution of the State of Ohio.
| SECTION vi: That for the purpose of pro-
Viding the necessary fund to pay the interest
on the foregoing issue of bonds promptly when
and as the same falls due, and also to create
and maintain sinking fund sufficient to
discharge the said bonds at maturity tbera
shall be and is hereby levied on all the taxable
property of the City of Hamilton Ohio in
addition to all other taxes a direct tax an
nuaily during the period for which said bonds
are to run In an amount sufficient to provide
a fund for the discharge of the principal of
said serial bonds at maturity which tax shall
not be less than the interest and Sinking Fund
tax, required by Section IL, of Article XII Of
! the Constitution. Provided however that In
each year that the assessments Anticipated bv
said bonds are payable and are applicable "a
the payment of such interest and principal and
are appropriated for such purpose the amount
4 of such tax shall be reduced by the amount az
the assessment appropriated
That said tax shall be and Is hereby ordered
computed. certified. levied and extended upon
the tax duplicate and collected by the same
officers in the same manner and at the same
/ time that the taxes for general purposes for
each of said years certified extended and
collected. Said tax shall be placed before ana
4 in preference to all other items and for Aha
full amount thereof. All funds derived from
said levies hereby required shall be placed Ia
a separate and distinct fund, which together
with all interest collected on the same shall
be rrevocably pledged for the payment Of the
interest and principal of said bonds when and
as the same fall due.
/ SECTION VIZ These bonds shall be suhect
/ TO gall or redemption prior to maturity at not
more than par.
1 SECTION VIII This ordinance shall take
effect and be in force from and after the earliest
period allowed by the Charter.
Passed; October 81, 1886.
R. H. BURKE. Mayor.
Attest ADELE EDMONDS.
Clerk of Council
! Oc a{-It