The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1939-11-24

! by reconStructing and resurfacing the
roadways thereof with permanent ma
! terial, to-wit, asphalt and constructing
| sidewalk, curb and gutter where neces-
sary, and also for the purpose of pro-
Vldlng a fund for the payment of not to
exceed one years interest on said bonds.
SECTION II: That it is hereby de-
termined 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 bonds of said City
of Hamilton shall be issued in the sum
of $S0,000.00, which amount includes
the sum of 50, 10000 for interest matur-
ing on said bonds previous to the re-
ceipt of taxes from which such interest
is to be ultimately paid for the purpose
aforesaid. Each of said bonds shall be
in the denomination determined by the
Director of Finance. Said bonds shall
be dated December /, 1899, and shall be
due and payable as follows: SS,000.00 on
the 1st day of December in the years
1941 to 1850, both inclusive, which ma
turtles are hereby determined to be in
substantially equal annual installments,
and shall draw 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
smile signature of the Director of FL
nance.
Said bonds shall be issued. executed
and disposed of in accordance with the
general laws of the State of Ohio, par
tlcularly 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 officer of the City
shall determine, and said bonds shall ex-
press upon their face the purpose for
which they are issued 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
cluded in the amount of the issue to the
extent necessary to provide a fund for
the payment of interest accruing on said
bonds previous to the receipt of taxes,
from which said interest is to be ulti-
mately paid and the premium and ac-
crued interest thereon shall be credited
10 a fund Tor the purpose of paying the
city part of the cost and expense of
the improvements as set forth in Section
of this ordinance, and shall be dis
burSed upon proper vouchers for the
purposes specified herein, for which pur-
pose said money is hereby appropriated
and said City Manager is hereby au-
necessary or incidental thereto
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
the bonds hereinbefore described, in ac-
cordance with the laws and Constitution
of the State of Ohio
SECTION VI: For the purposes of
providing the necessary funds to pay
the interest on the foregoing issue of
bonds promptly when and as the same
snail fall due, and also to provide fund
sufficient to discharge said serial bonds
there shall 10 ic
levied on all the taxable property in the
City of Hamilton, in addition to all
other taxes, q direct tax annually dur
ing the period of time said 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 a fund for the dis
charge OF the principal of said serial
bonds at maturity which taxes shall
not be less than the interest and sinking
fund tax required in Section II, Article
Ohio
Said tax shall be and is hereby or
dered computed, certified, levied and ex-
tended upon the tax duplicate and coll
lected by the same officials in the same
manner and at the same time that taxes
for general purposes for each of said
years are certified, extended and col
| lected. Said tax shall be placed before
ana IN preference to all other items and
Tor the fun amount thereof The funds
derived from said tax levies hereby re-
4ulIeu SHall pc paced IN separate and
distinct fund which together with the
interest collected on the same, shall be
irreyocably 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: This ordinance shall
take effect and be in full force and eff
feet from and after the earliest period
allowed by the charter of the City of
Hamilton, Ohio.
Passed; November Is, 1889.
/ r. H. BURKE, Mayor
Attest: ADELE EDMONDS,
Nov 24-1t