The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1938-04-29
ORDINANCE No. aaa1
Apr29-It


To borrow money by issuing note or notes
in anticipation of the issuance of bonds to
be issued in anticipation of the collection OF
specIal assessments TO pay the cost and ex-
pense of the construction of curb and gut
Ter on both sides of Verynn Avenue from
Millyie Avenue to its northern terminus
constructing sidewalk the east side of
said street, between Millyiile Avenue and
the northern terminus of Verlynn Avenue
constructing sidewalks on the west side of
Veriynn Avenue from Milyille Avenue to
Westview Avenue, in the First Ward of the
City of Hamilton. Ohio, and the doing of
the necessary grading therefor.
BE IT ORDAINED by the Council Of the
City Of Hamilton, Ohio:
SECTION i That it is deemed necessary
to borrow money in anticipation of the issu-
ance OF bonds TO be issued in anticipation Of
the collection of special assessments To nav
the cost and expense of the construction of
curb and gutter both sides Of yerlynn
Avenue from Millville Avenue to its northern
terminus, constructing sidewalk on the east
side OF said street between Millvie Avenue
ana the northern terminus of Verlynn Avenue
constructing sidewalks on the west side of Ver-
lynn Avenue, from Millville Avenue to West
view Avenue. in the First Ward of the Citv
OF Hamilton, Ohio. and the doing of the nee
essary grading therefor, provided in Section
2293-24 OF the General Code of Ohio in the
sum of Sl,503.29 the estimated amount Of
said assessment
SECTION II: That the City Manager and
the Director of Finance of the City of Hamil
ton, ONO, shall issue note or notes for the
above amount. Said note or notes shall bea,
interest at the rate not to exceed six per cent
per annum, and shall be dated as of date az
the issuance, and said note or notes shall h.
due ana payable on or before two years from
the date thereof Said note or notes shall
express upon their face the pIIrnose for uh;oh
they We're issued, that they were issued in mr.
suance to this ordinance and in accordance
with section 2293-24 of the General Code Of
al Ghall ha ci,
and the Director of Finance Of Hamilton OK;
ana sealed with the corporate seal of said Cify
oh1IiON III: That the faith revenue and
credit OF the City of Hamilton Ohio ..a
pieuseu 70 the prompt payment of said notes
nerenabove described in accordance with ~
laws and Constitution of the State of OH
IN the event that assessments are not leviad
or bonds are not issued to provide a fnnd e.
the payment OF such notes at maturity that
there shall be and is hereby levied nnon ail
OF the taxable property in the Citv of HI
ton, Ohio, in addition to all other tavas :
direct annual tax sufficient to nav tba ;,3
est ana 10 create a sinking fund to redeem,
at maturity the above provided for notas
which tax shall not be less than tha ;,ta.
ana sinking fund tax required by Section
OF Article II of the Constitution prov;d5
however, lnat IN each year that the assess
ments anticipated by said notes arc navabl
and are applicable to the PAYMENT ~ s,,aL 7;
terest and principal and are appropriated e.,
9uch purpose the amount of such tax shall
oe Ieuueed Dy the amount of the assasenoan.
SO appropriated. The amount of said tax ~
De computed by the taxing authorities and ~
De ceftlhed to the proper officers and ~
same snail be levied and collected nc o4hr
taxes are levied and collected Said tax shl
be placed before and in preference To ali othar
items Tor the full amount thereof and III
Iunds derived from said levies hereby rao,;ra
snaii De placed IN separate and distinct fund
Which. together with all interest collected ~
lne same shall be irrevocably pledged far ~
payment Of the interest and principal az sa;d
notes when and as the same fall due.
SECTION ": That the proceeds ar;s;,,.
rom the sale of said notes shall ha ,laas !.
the credit OF the fund for the navnant nf 4s,
Improvement and all unexpented halanaa
remaining IN said fund after tba cost "a
expense of the improvement have hoan -.
ana the proceeds of all bonds sold in antic;na
ton OF the collection of deferred ;nstal,,s.
OF assessments and all cash payments ar ~
sessments shall be applied to the naymant 70
sa1d note or notes and interest tbaraon ,,.:i
both are fully provided for.
SECTION v That the Director of r;.
be and he is hereby authorized Ia ;ssna h;s
warrant to the Treasurer in paynent for ths ~,
cost OF said Improvement ''ie
SECTION VI This ordinance abau t.Lo
ehect and be in force from and altar Ia
earnest period allowed by the charter af ~
City Of Hamilton, Ohio. = 'he
Passed April 25, 1898.
49,. -, Z: H. BURKE, Mayor.
Attest: ADELE EDMONDS,
Clerk of Council