The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1938-06-24
nRnINANCE Nh a68I


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 improving Symmes Avenue, from
Dixie Highway to the Baltimore Ohio
Railroad, in the Sixth Ward of the City OF
Hamilton, Ohio by grading and gravelling
the roadway thereof and constructing curb
and gutter where encessary.
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 issuance
of bonds to be issued in anticipation Of the
collection of special assessments to pay the
cost aud expense Of improving SymYaes Ave-
nue., from Dixie Highway to the Baltimore
& Ohio Railroad. in the Sixth Ward OF the
City Of Hamilton, Ohio. by grading and gray
cling the roadway thereof and constructing
curb and gutter where necessary. as provided
in Section 2293-2A of the General Code Of
Ohio in the sum of Sl40l2l. the estimated
amount of said assessment.
SECTION II That the City Manager and
the Director of Finance OF the City of Hamil-
ton Ohio, shall issue note or notes TOR 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 of date OF
the issuance 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 winch
they were issued that they were issued in pur-
with Section 2293-2d of the General Code OF
Ohio and shall be signed by the City Man
ager and the Director of Finance OF Hamli-
tom 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 sald notes
hereinabove described in accordance with the
laws and Constitution of the State Of ONO
in the event that assessments are not levied
or bonds are not issued TO provide fund
for the payment of such notes AZ maturity
there shall be and is hereby levied upon an
Of the taxable property in the City of Hamli-
ton Ohio in addition to all other taxes, a
direct annual tax sufficient TO pay the interest
and to create sinking fund to redeem At
maturity the above provided Tor notes, whlch
tax shah not be less than the interest and
sinking fund tax required by Section of
Article ~ of the Constitution. Provided, how
ever that in each year that the assessments
anticipated by said notes are payable ana are
applicable TO the payment OF such interest ana
principal and are appropriated for such pur-
pose the amount of such tax shall be reduced
by the amount of the assessment So appro-
priated The amount of said tax to be COM
puted 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 ali othef
itms for the full amount thereof, and all funds
derived from said levies hereby required shall
be placed in q separate and distinct iund,
which, together with all interest collected on
the same shall be irrevocably pledged for the
payment Of the interest and principal Of said
notes when and as the same fall 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 unexpected balances
remaining in said fund after the cost and
expense of the Improvement have been paid
and the proceeds of all bonds sold IN antielpa-
ton of the collection of deferred instaliments
of assessments and all cash payments OF as
sessments shall be applied to the payment
of said note or notes and interest thereon
until both are fully provided for.
| SECTION ": That the Director Of Finance
1 be and he is hereby authorized 70 issue his
warrant to the Treasurer in payment for the
4 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
1 City of Hamilton, Ohio.
Passed June Is. 1888.
r. H. BURKE, Mayor.
1 Attest ADELE EDMONDS,
Clerk of Council.
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