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

general laws of the State of Ohio, par
ticularly the Uniform Bond Act of the
General Code of Ohio.
The principal and interest OF Sa1d
bonds shall be payable at the office of
the City Treasurer of the City of Ham
iton, Ohio. Said bonds shall bear such
consecutive numbers as the Director OF
Finance or the proper officer of the City
shall determine. and said bonds shall
express upon their face the purpose for
which they are issued, that they are is
sued in pursuance of this ordinance, and
shall be signed by the City Manager and
the Director of Finance and sealed with
the corporate seal of said City.
SECTION ": The proceeds from the
sale of said bonds, except the sum IN
cluded in the amount OF the issue 70 the
extent necessary to provide fund for
the payment of interest accruing on said
bonds previous to the receipt of taxes,
from which said interest is to be uitl-
mately paid, and the premium and ac-
crued interest thereon shall be credited
to a fund for the purpose of paying the
CityS part of the cost and expense oil
the improvements as set forth IN Sec
tion ] of this ordinance, and shall be dls-
bursed upon proper vouchers Tor lhe
purposes specified herein, for which pur-
pose said money is hereby appropriated,
and said City Manager is hereby au-
thorized to execute any and all contracts
necessary or incidental thereto
SECTION v: That the faith, revenue
and credit of the City of Hamilton, Ohio,
are hereby pledged for the prompt pay
ment of both principal and interest OF
the bonds hereinbefore described, IN ac-
cordance with the laws and Constitution
of the State of Ohio
SECTION VI: For the purposes OF
providing the necessary funds to pay
the interest on the foregoing issue OF
bonds promptly when and as the same
shall fall due, and also to provide fund
sufficient to discharge said bonds at ma
turity, there shall be and is hereby
levied on all the taxable property in the
City of Hamilton, in addition to all other
taxes, a direct tax annually during the
period of time said bonds are to run in
an amount sufficient to provide funds to
pay the interest upon said bonds as and
when the same falls due, and also to pro-
vide a fund for the discharge of the prin-
cipal of said serial bonds at maturity
which taxes shall not be less than the
interest and Sinking Fund tax required
in Section ii, Article IL, of the Consti-
tuition of the State of Ohio.
Said tax shall be and is hereby or
dered computed, certified, levied and ex-
tended upon the tax duplicate and col
lected by the same officials in the same
manner and at the same time that taxes
for general purposes of each OF said
years are certified, extended and col
lected Said tax shall be placed before
and in preference to all other items and
for the full amount thereof. The funds
derived from said tax levieS hereby re-
luiiSb 7iietii SS pAe,Scd g 'oSPs'i
distinct fund which, together with the
interest collected on the same, shall be
| irrevocably pledged for the payment OF
principal and interest on said bonds when
and as the same fall due.
SECTION VII: These bonds shall be
subject to call or redemption prior tc
maturity at not more than par and ac-
crued interest.
| SECTION WIZ This ordinance shall
take effect and be in full force and effect
| from and after the earliest period al
lowed by the charter of the City of Ham
| ilton, Ohio.
PASSED. November 81, 1888.
r. III. BURKE Mayor.
Attest: ADELE EDMONDS
Clerk Of Council.
Nov PIT