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

and December in each year until the
principal sum is paid, upon presentation
and surrender Of interest coupons to be
attached to said bonds bearing the fac
smile signature of the Director of FL
nance; that said bonds shall mature as
follows: SS400 on the 1st day of De-
cember in the years 1941 to 1945, both
inclusive, which maturities are hereby
determined to be in substantially equal
annual installments.
Said bonds shall be issued, executed
and disposed of in accordance with the
general laws of the State of Ohio, par
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 officers of the
City shall determine, and shall express
upon their face the purpose for which
they are issued and that they are issued
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 fund
for the payment of interest accruing
on said bonds previous to the receipt Of
taxes from which such interest is to be
ultimately paid, and the premium and
accrued interest thereon, shall be cred
tied to fund for the purpose of pay
ing the City's share of the cost and ex-
penSe of constructing sanitary sewers,
manholes and inlet basins on Four
teenth Street, between Hanover Street
and Hanover Street Alley in the City
of Hamilton, Ohio, and for no other
purpose, and shall be disbursed upon
proper vouchers for the purpose speci-
fled herein for which purpose said
money is hereby appropriated
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
said bonds hereinbefore described, in
accordance with the laws and constitu-
tion of the State of Ohio.
SECTION VI: For the purpose of pro-
viding the necessary fund to pay the
interest on the foregoing issue of bonds
promptly when and as the same falls
due, and also to provide a fund sufficient
to discharge the said serial bonds at
maturity, there shall be and is hereby
levied on all of the taxable property of
the City of Hamilton, Ohio in addition
to all other taxes a direct tax annually
during the period of the time such 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 fund for the
discharge of the principal of said serial
bonds at maturity, which taxes shall
not be less than the interest and sink
ing fund tax required by Section IT, Ar
ticle 2 of the Constitution of the State
of Ohio.
Said tax shall be and is hereby or
dered computed and certified, levied and
extended upon the tax duplicate, col
lected by the same officials, in the same
manner and at the same time as 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. The
funds derived from said tax levy hereby
required shall be placed In q separate
and distinct fund which together with
the interest collected on the same shall
be irrevocably 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: The Clerk of Council
is hereby directed to forward a certi-
fled copy of this ordinance to the County
Auditor.
SECTION TX: 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 15 1889.
r. II. BURKE, Mayor.
Attest: ADELE EDMONDS.
Clerk of Council
Nov 24-1t