The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1939-07-28


ley 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.
BE IT ORDAINED by the Council of
the City of Hamilton, Ohio:
SECTION /: That it is deemed neces-
safy 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 Eaton Avenue Alley, from
Elvn Avenue to Cereal Avenue, said
Eaton Avenue Alley being the first alley
west of Eaton Avenue in the First
Ward of the City of Hamilton, Ohio,
by grading and paving said alley be-
tween said points with permanent ma
terial such as concrete, asphalt brick,
asphaltic concrete, Warrenite bitulithic,
or any other type of material as may be
determined as provided in Section 2293-
"a of the General Code of Ohio. in the
sum of S4,375.S5, the estimated amount
of said assessment.
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
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 were issued,
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 herenabove described in ac-
wit tha and itnt ion
of the State of Ohio; in the event that
assessments are not levied or bonds are
not issued to provide fund for the
payment 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 direct annual tax suffi-
cient 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 IL
of Article II of the Constitution. Pro
vided however, that in each year that
the assessments anticipated by said
notes are payable and are applicable to
the payment of such interest and prln-
cipal and are appropriated for such pur-
pose, the amount of such tax shall be
reduced by the amount of the assess
ment so appropriated. 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 a 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 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 in
stallments of assessments and all cash
payments of assessments shall be APP
piled to the payment of said note or
notes and interest thereon until both
are fully provided for
SECTION v: That the Director of
Finance be and he is hereby authorized
to issue his warrant to the Treasurer
in payment for the cost of said inn
proyement
take effect and be in force from and
after the earliest period allowed by the
charter of the City of Hamilton, Ohio.
Passed: July 19, 1899.
x. Fl. BURKE, Mayor.
Attest: ADELE EDMONDS,
Clerk of Council
July 2S-1t