The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1939-04-14
ORDINANCE NO. s7eo

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 assess
ments to pay the cost and expense of
improving Elmo Avenue Alley, from
Woodlawn Avenue south to Woodlawn
Avenue Alley, said Elmo Avenue Alley
being the first alley west Of and par
allei to Elmo Avenue, in the sixth
Ward of the City of Hamilton, Ohio,
by grading and paving said alley be-
tween said points with a permanent
material such as concrete, asphalt,
brick, asphaltic concrete, Warrenite
bitulithic, or any other type of ma
teria1 as may be determined, and con-
structing storm sewers, manholes and
inlet basins where necessary.
BE 1T ORDAINED by the Council of
the City of Hamilton, Ohio:
SECTION l. That it is deemed neces-
Sary 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 and expense
of improving Elmo Avenue Alley, from
Woodlawn Avenue south to Woodlawn
Avenue Alley, said Elmo Avenue Alley
being the first alley west of and parallel
to Elmo Avenue, in the Sixth Ward of
the City of Hamilton, Ohio, by grading
and paving said alley between said
points with a permanent material such
as concrete, asphalt, brick, asphaltic
concrete, Warrenite bitulithic, or any
OIncF type OF material DIS may De ut-
termined, and constructing storm sew
erS, manholeS and inlet basins where
necessary as provided in Section 2293-24
of the General Code of Ohio in the sum
of $697.50 the estimated amount of
said assessment
SECTION IL That the City Manager
and the Director of Finance of the City
of Hamilton, Ohio, shall issue note or
notes for the above amount Said note
or notes shall bear interest at the rate
exceed six cent annIln1.
and shall be dated as 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 which they We're is
sued, 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 cor
porate 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 ac-
cordance with the laws and constitution
of the State of Ohio: in the event that
assessments are not levied or bonds are
not issued to provide fund for the pay
ment of such notes at maturity, there
shall be and is hereby levied upon all of
the taxable property OF 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 al maturity the above
provided for notes, which tax shall not
be less than the interest and sinking
fund tax required by Section IL of Ar
ticle 12 of the Constitution. Provided
however, that in each year that the as
sessments anticipated by said notes are
payable and are applicable to the pay
ment of such interest and principal and
he
amount Of such tax shall be reduced by
the amount of the assessment so appro-
priated. 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 items and for
the full amount thereof. and all funds
derived from said levieS hereby required
shall be placed in separate and distinct
fund which, together with all interest
collected on the same shall be irrevo-
cably pledged for the payment of the
interest and principal of said notes when
and as the same fall due
SECTION w: That the proceeds ariS-
ing from the sale of said notes shall be
placed to the credit of the fund for the
payment of said Improvement and all
unexpended balances 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 INSTALL
ments of assessments and all cash pay
mentS of assessments shall be applied
to the payment of said note or notes and
interest thereon until both are fully pro
vided for.
SECTION V That the Director of FL
nance be and he is hereby authorized tc
issue his warrant to the Treasurer il
| payment for the cost of said improve.
ment.
SECTION VI. This ordinance shal
| take effect and be in force from anc
after the earliest period allowed by the
charter of the City of Hamilton Ohio.
Passed: April ), 1889.
r. n BURKE, Mayor.
Attest. ADELE EDMONDS,
Clerk of Council
| Apr. 14-1t