The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1939-05-12

SECTION II: That it is hereby deter
mined 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 sum of $65000, which
amount includes the sum of 1915 for
interest maturing on said bonds pre-
vious 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 June l. 1899,
and shall bear interest at the rate of
three per cent per annum, payable semi
annually on the 1st day of June and
December in each year until the prin-
cipal sum is paid upon presentation and
surrender of interest coupons to be at
tached to said bonds bearing the fac
simile signature of the Director of FL
nance; that said bonds shall mature as
follows: $4,000 on the 1St day Of De-
cember in the years 1910 to 1949, both
inclusive, which maturities are hereby
determined to be in substantially equal
annual nStallmentS.
Said bonds shall be issued executed
and disposed of in accordance with the
general laws of the State of Ohio, par
ticularly 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 Ham
ilton, Ohio; said bonds shall bear such
consecutive numbers as the Director of
Finance or 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 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
p1l lnd ln am of CsNID tn hn
extent necessary to provide a fund for
the payment of interest accruing on
said bonds previous to the receipt of
taxes from which such interest is to
and accrued interest thereon, shall be
credited to fund for the purpose of
paying the City'S share of the cost and
expense of constructing storm sewers,
| manholes and inlet basins on High
Street Alley, from Ida Avenue to Fair
Avenue in the City of Hamilton, Ohio,
and for no other purpose, and shall be
| disbursed upon proper vouchers for the
] purpose specified herein, for which pur-
| pose said money is hereby appropriated
| 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
| said bonds herenbefore described, in ac-
| cordance with the laws and conStitu-
tion of the State of Ohio
| SECTION VI: For the purpose of pro-
| interest on the foregoing issue of bonds
promptly when and as the same falls
| due and also to provide fund sufficient
| to discharge the said serial bonds at
maturity there shall be and is hereby
levied on all of the taxable property of
the City of Hamilton, Ohio, in addition
| to all other taxes a direct tax annually
| during the period of the time such 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 provide fund for the
discharge of the principal of said serial
! bonds a maturity, which taxes shall not
be less than the interest and sinking
fund tax required by Section IL, Article
II, of the Constitution of the State of
| Ohio.
Said tax shall be and is hereby or
dered computed and certified, levied and
extended upon the tax duplicate, col
lected by the same officials, in the same
manner and at the same time as the
/ taxes for general purposes for each of
said years are certified, extended and
collected. Said tax shall be placed be-
fore and in preference to all other items
and for the full amount thereof The
/ funds derived from said tax levy hereby
required shall be placed in separate
and 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 to
maturity at not more than par and ac-
crued interest.
SECTION VIII: The Clerk of Council
is hereby directed to forward a certified
copy of this ordinance to the County
Auditor
SECTION TX: 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
Hamilton, Ohio.
Passed. May 3, 1889.
r. H. BURKE, Mayor.
Attest: ADELE EDMONDS,
Clerk of Council
May Pit