The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1938-03-11
ORDINANCE No. 1851

| Providing for the issue of bonds of the City
OF Hamilton Ohio, in the sum of $780, 90
for the purpose of raising money to provide
the necessary funds to pay the cost and ex-
pense OF acquiring real estate for a park
outside the limits of the City of Hamilton,
Ohio. and adjacent thereto.
WHEREAS, 1t is deemed necessary, exped-
lent and for the public good to purchase real
estate outside the limits of the City of Hamil-
ton, Ohio, and adjacent thereto for park pur-
poses and
WHEREAS, The council of the City of
Hamilton, Ohio, has determined that the cost
of acquiring real estate to be used for park
purposes outside the limits of the City of
Hamilton, Ohio, and adjacent thereto. will be
approximately $l0150.00; and
WHEREAS. Council has requested the Drec-
tor of Finance to issue his certificate as to
the estimated life of the property, assets or
Improvement proposed to be acquired or con-
structed from the proceeds of bonds herein
after referred to, and the Director of Finance
has certified to this Council such estimated
life as exceeding five years, and has further
certified the maximum maturity Of such bonds
as thirty years.
NOW THEREFORE, BE TT ORDAINED
by the Council of the City of Hamilton Ohio .
SECTION l That it is deemed necessary
by the Council of the City of Hamilton. Ohio,
to issue and sell bonds of said City in the
sum of Sl0,150.00 for the purpose of raising
money to provide the necessary funds to pay
the cost and expense of acquiring real estate
for park purposes outside of the limits of the
City Of Hamilton, Ohio. and adjacent thereto
and also for the purpose of providing fund
to pay the interest accruing said bonds
previous to the receipt of taxes from which
such interest is to be ultimately paid
SECTION II: That it is hereby determined
to proceed with the issue of said bonds in one
lot and without issuing notes in anticipation
OF the issuance of said bonds.
SECTION III: That serial bonds of the
City OF Hamilton, Ohio, shall be issued in the
nf Tlpta I. A.
sum of $4,000 for interest maturing on said
bonds previous to the receipt of taxes from
which such interest is TO be ultimately paid
for the purpose aforesaid Each of said bonds
shall be dated April l, 1898. and shall bear
interest at the rate of three 90 per cent per
annum, payable semi-annually the 1st day
OF April and October in each year until the
principal is paid, upon presentation and
surrender of interest coupons to be attached
to said bonds bearing the facsimile signature
OF the Director of Finance; that said bonds
shall mature follows: Sl,150.00 on the
lst day of October 1899 and 81 900 90 on the
lst day of October in the years 1910 to 194S
both inclusive, which maturties are hereby
determined to be in substantially equal an
nual nstalments.
Said bonds shall be issued executed and
disposed of in accordance with the general
laws of the State of Ohio, particularly the
Uniform Bond Act of the General Code of
Ohio.
The principal and interest Of said bonds
shall be payable at the office of the City
Treasurer of the City of Hamilton, Ohio: said
bonds shall bear such consecutive numbers as
the Director of Finance the proper officers
Of the City shall determine and shall express
upon their face the purpose for which they
are issued and that they are issued in pursu-
ance 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 sad bonds, except the sum included in the
amount of the issue to the extent necessary to
provide fund for the payment of interest
accruing on said bonds previous to the re-