The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1938-02-11
ORDINANCE No. a6la
Feb. 11-1t

To borrow money by issuing note notes in
anticipation Of the issuance Of bonds to be
issued in anticipation of the collection of
special assessments to pay the cost and
pense of the construction of sidewalk, curb
and gutter on both sides of Goodman Ave-
nue., from Mckinley Avenue TO Kenworth
Avenue in the First Ward of the City of
Hamilton, Ohio, and grading and grayelling
the roadway thereof.
BE 1T ORDAINED by the Council of the
City Of Hamilton, Ohio:
SECTION / 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 pay the
cost and expense Of the construction Of side
walk, curb and gutter both sides of Good
man Avenue, from Mckinley Avenue to Ken
worth Avenue. IN the First Ward Of the City
oi Hamilton, ONO, and grading and gravelling
the roadway thereof as provided in Section
2295-24 of the General Code of Ohio, IN the
sum Of S23O5.80, the estimated amount Of said
assessment.
SECTION II: That the City Manager and
the Director of Finance Of the City or Hanil-
ton, Ohio, shall issue note or notes for the
above amount. Said note notes shall bear
interest at the rate not to exceed six per cent
per annum. and shall be dated as Of date of
the issuance. and said note on notes shall be
due and payable on before two years from
the date thereof Said note or notes shall ex-
press upon their face the purpose for which
they were issued, that they were issued il pur-
suance to this ordinance and in accordance
with Section 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
herenabove described IN accordance 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
there shall be and IS hereby levied upon all
81 the taxable property in the City Of Hamil-
ton. Ohio, III addition to all other taxes a
direct annual tax sufficient to pay the inter-
est and TO create sinking fund TO redeem
at maturity the above provided for notes,
which tax shall not be less than the interest
and sinking fund tax required by Section 2
of Article IL Of the Constitution. Provided.
however, that Ia each year that the assess
ments anticipated by said notes are payable
and are applicable to the payment of such
interest and principal and are appropriated
for such purpose, the amount of such tax shall
be reduced by the amount of the assessment Sd
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 for the full amount thereof, and all
funds derived from said evies hereby required
shall be placed in separate and distinct fund
the same shall be irrevoeably pledged for tile
| payment Of the interest and principal Of said
notes when and the same fan due.
| SECTION ~ That the proceeds arising
from the sale Of said notes shall be placed To
the credit Of the fund for the payment of said
improvement and all unexpended balances re-
naming in said fund after the cost and ex-
pense Of the improvement have been paid and
the proceeds of all bonds sold in anticipation
of the collection Of deferred installments Of
| assessments and all cash payments of assess
nents shall be applied to the payment OF
said note or notes and interest thereon until
both are fully provided for
SECTION v: That the Director Of Finance
be and he is hereby authorized to issue his
| warrant to the Treasurer in payment for The
cost of said Improvement.
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: February 2. 1888.
r. H. BURKE, Mayor.
Attest: ADELE EDMONDS.
Clerk Of Council
Feb. 11-1t