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

the cost and expense of improving Park Ave-
nue. Alley from Edgewood Avenue to Beal
Avenue. said Park Avenue Alley being the
first alley south of Park Avenue, in the First
Ward of the City of Hamilton, Ohio by grad
ing and paving said alley between said points
with permanent material such as concrete
asphalt brick, asphaltic concrete, Warrenite
bitulithie, any other type of material as
may be determined, provided in Section
2293-24 of the General Code of Ohio, in the
sum of $l903.20, the estimated amount of
said assessment
SECTION II: That the City Manager and
the Director of Finance of the City of Hami-
ton, Ohio, shall issue note 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 or notes shall be
due and payable before two years from
the date thereof. Said note notes shall ex-
press upon their face the purpose for which
they were issued that they were issued in
pursuance 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
hereinabove described in accordance with the
laws and Constitution of the State of Ohio.
IN the event that assessments are not levied
or bonds not issued to provide a fund for
the payment OF such notes at maturity, there
shall be and is hereby levied upon all of the
taxable property in the City of Hamilton
Ohio, in addition to all other taxes, a direct
annual tax sufficient to pay the interest and
to create sinking fund to redeem at matur-
ity the above provided for notes. which tax
shall not be less than the interest and sink
ing fund tax required by Section 2 of Article
II of the Constitution. Provided however
that IN each year that the assessments an
ticipated by said notes payable and are
applicable TO the payment of such interest
and principal and appropriated for such
purpose, the amount of such tax shall be re-
fused 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
times for the full amount thereof and all
funds derived from said evies hereby required
shall be placed in separate and distinct fund
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 the same fall due
SECTION w: 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 bal
ances remaining in said fund after the cost
and expense Of the improvement have been paid
and the proceeds Of all bonds sold in anticipa-
tion of the collection of deferred instaments
of assessments and all cash payments of as
sessments shall be applied To the payment of
said note notes and interest thereon until
both are fully provided for.
SECTION " 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: June l5 1888
r H, BURKE, Mayor
Attest: ADELE EDMONDS.
Clerk Of Council
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