The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1939-06-16
Legal Advertisements

alley between said points with per-
manent material such as concrete as.
phalt, brick, asphaltic concrete, War
renite bitulithic, or any other type OF
material as may be determined as .pro-
vided in Section 2293-24 of the General
Code of Ohio, in the sum of $1,345.50
the estimated amount of said assess
ment.
SECTION II: 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
not to exceed six per cent per annum,
and shall be dated as of date of the is
suance, and said note 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 issued that
they were issued in pursuance to this
ordinance and in accordance with Sec
tion 2293-24 of the General Code of
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 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 a 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 a sinking
fund to redeem at maturity the above
provided for notes, which tax shall not
be less than the interest and sinking
fund tax required by Section II of Ar
ticle / 2 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
are appropriated for such purpose, the
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 dis
tinct fund, which together with all in
terest collected on the same shall be
irrevocably 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 thereupon until both are fully
provided for.
SECTION V: That the Director of FL
nance be and he is hereby authorized
to issue his warrant to the Treasurer
in payment for the cost of said inn
proVement.
take effect and be in force from and
after the earliest period allowed by the
charter of the City of Hamilton, Ohio.
Passed: June Z, 1889.
r. II. BURKE, Mayor.
Attest: ADELE EDMONDS
Clerk of Council.
JlIna 16-1t