The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1939-04-14
Legal Advertisements

said Director of Finance or the proper
officers of the City may determine.
SECTION III: That upon the sale of
said bonds any premiums and the ac-
crued interest realized therefrom shall
be paid to the Sinking Fund Trustees.
The par value realized from the sale of
said bonds shall be placed in the City
Treasury to the credit of the Sidewalk
Improvement Fund and shall be dis
bursed from said fund on proper vouch-
ers in payment of the expense of the
Improvement aforesaid and TO the pay
ment of the notes heretofore issued for
said purpose and the interest thereon,
for which purpose said money is hereby
appropriated.
SECTION w: That all installments
of said assessments and all portions
thereof, together with interest thereon,
shall be applied to the payment of said
bonds and interest as the same shall be-
come due. and to no other purpose what
Soever.
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: That for the purpose of
providing the necessary fund to pay the
interest on the foregoing issue of bonds
promptly when and as the same falls
due, and also to create and maintain
sinking fund sufficient to discharge the
said bonds at maturity, there shall be
and is hereby levied on all the taxable
property of the City of Hamilton, Ohio
in addition to all other taxes a direct
tax annually during the period for which
said bonds are to run in an amount suf-
ficient to provide fund for the dis
charge of the principal of said serial
bonds at maturity, which tax shall not
be less than the interest and Sinking
Fund Tax, required by Section II of Ar
ticle IL of the Constitution Provided
however, that in each year that the as
sessments anticipated by said bonds are
payable and are applicable to the pay
ment of such interest and principal and
are appropriated for such purpose, the
amount of such tax shall be reduced by
the amount of the assessment so ap-
propriated.
That said tax shall be and is hereby
ordered computed, certified. levied and
extended upon the tax duplicate and
collected by the same officers in the
same manner and at the same time that
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. 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 irrevocably pledged for the payment
of the interest and principal of 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.
SECTION VIII: 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. April 5, 1889.
r. H. BURKE, Mayor.
Attest: ADELE EDMONDS,
Clerk Of Council
Apr. 14-1t