The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1938-11-25

OF Ine collecJ1on OF special assess
ments to pay the cost and expense of
improving both sides Of Mckinley Ave-
nue., from Highland Avenue Alley to
Highland Avenue, in the City of Ham
ilton, Ohio, by constructing what is
commonly known as boulevard or
white way lighting and secondary
lighting system as necessary.
BE IT ORDAINED by the Council Of
the City Of Hamilton, Ohio
SECTION +: That it is deemed neces-
Sary to borrow money in anticipation of
the issuance Of bonds to be issued in an
ticipation of the collection OF special as
sessments to pay the cost and expense Of
improving both sides of Mckinley Ave
nue., from Highland Avenue Alley to
Highland Avenue, in the City of Hamil-
tom Ohio, by constructing what is COM
monty known as boulevard or white way
lighting and secondary lighting system
as necessary, as provided in Section 2293-
"a of the General Code Of Ohio in the
sum of $1452S1. the estimated amount
Of said assessment.
SECTION II: That the City Manager
and the Director of Finance of the City
Of Hamilton, Ohio, shall issue note or
notes for the above amount. Said note
or notes shall bear interest at the rate
not to exceed six per cent per annum,
and shall be dated as Of date Of the is
Suance, and said note or notes shall be
due and payable on or before two years
from the date thereof Said note or
notes shall express upon their face the
purpose for which they were issued, that
they We're issued in pursuance to this
ordinance and in accordance with Sec
tion 2293-24 of the General Code of Ohio,
and shall be signed by the City Manager
and the Director of Finance of Hamilton
Ohio, and sealed with the corporate seal
Of said city
SECTION III: That the faith revenue
and credit of the City of Hamilton, Ohio.
are pledged To the prompt payment of
said notes hereinabove described in ac-
cordance with the laws and constitution
Of the State Of Ohio in the event that
assessments are not levied or bonds are
not issued to provide a fund for the pay
ment of such notes at maturity there
shall be and is hereby levied upon all of
the taxable property of the City of Ham
ilton, Ohio in addition to all other taxes,
a direct annual tax sufficient to pay the
interest and to create sinking fund to
redeem al maturity the above provided
for notes, which tax shall not be less
required by Section ii of Article u of
the Constitution. Provided however.
that in each year that the assessments
anticipated by said notes are payable and
are applicable to the payment Of such i'm
terest and principal and are appropriated
for such purpose, the amount of such
tax shall be reduced by the amount of
the assessment so appropriated The
amount of said tax to be computed by
the taxing authorities and to be certified
to the proper officers, and the same shall
be levied and collected as other taxes
are levied and collected. Said tax shall
be placed before and in preference TO all
other items and for the full amount
thereof, and all funds derived from said
levies hereby required shall be placed in
a separate and distinct fund, which, to-
gether with all interest collected on the
| same shall be irrevocably pledged fol
| the payment of the interest and prin-
cipal of said notes when and as the same
| fall due.
| SECTION ": That the proceeds aris-
! ing from the sale of said notes shall be
/ placed to the credit of the fund for the
| payment of said improvement and al
uneXpended balances remaining in saio
! fund after the cost and expense of the
| Improvement have been paid and the pro.
| ceeds of all bonds sold in anticipation OF
| the collection of deferred installments OF
| assessments and all cash payments of as
| sessments shall be applied to the pay
! thereon until both are fully provided for
nance be and he is hereby authorized tC
| issue his warrant to the Treasurer in
| payment for the cost of said improve
ment
SECTION VI This ordinance shall
! take effect and be in force from and
after the earliest period allowed by the
charter Of the City of Hamilton Ohio
Passed: November 21, 1888.
r. II. BURKE, Mayor
Attest ADELE EDMONDS,
Clerk Of Council.
Nov 25-1t