The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1939-10-27
ORDINANCE NO. 1864
An ordinance accepting the bequest
made by Christian Benninghofen to
the City of Hamilton Ohio.

the City of Hamilton Ohio.
WHEREAS Christian Benninghofen,
Of Hamilton, Ohio, died testate and his
last viii and testament was duly adj
mitted to record in the Probate Court
Of Butler County, Ohio; and
WHEREAS Item 4 of his last will
and testament reads as follows:
ITEM a give and bequeath to the
City Of Hamilton, Ohio, the sum of Fifty
Thousand ($50,000.00) Dollars upon the
following conditions and only for the
following purposes: Said fund is to be
held permanently by said City and in
vested and reinvested in bonds issued by
the United States, the State of Ohio, or
any County and Municipal bonds issued
by such subdivisions within the State of
ONO. This gift is made to said City of
hamilton for the purpose of assisting
and aiding the needy poor of said City,
and for no other purpose and ] hereby
Will and direct that only the income
from said principal sum shall be used
for that purpose and that no part of
said income shall be diverted to the pay
ment Of any salaries or other expenses
incident to the investment and reinveSt-
ment of said fund or it's income, or for
the distribution of said income or for
holding, managing or controlling the
same, it being my intention that the
entire income shall be devoted to the
assistance and aid of the needy poor of
said City; and that said City hold man
age and control this gift, and that they
make such rules and regulations by or
dlndllce or resolution or OtnefWlSe, IflaC
may be required to carry out fully this
provision of my Will so as to render
safe and practical this bequest This
bequest of Fifty Thousand (S50, ,000. 00)
Dollars, ! direct shall be paid within
three (9) years from my death, and at
such time within such period as my
executors shall deem best"
AND WHEREAS, Item 4 of the codicil
to his Will reads as follows:
ITEM w further empower the
City of Hamilton Ohio, to invest and
reinVest the sum so bequeathed said
City of Hamilton, Ohio, in Item of
my Will IN any and all obligations is
sued by the United States government,
| in addition TO the powers of investing
and renvesting the said sum given said
| City Of Hamilton, Ohio, in Item of
AND WHEREAS, Paul Benninghofen
as Executor of said estate, has rendered
! to the City a check for $50, 10000 in
| payment of said bequest.
THEREFORE, BE 1T ORDAINED by
the Council of the City of Hamilton,
Ohio
SECTION / That the bequest made
by Christian Benninghofen to the City
of Hamilton, Ohio, above referred to
and contained in his last will and
testament, be and the same is hereby
accepted; subject to all of the terms
and conditions contained therein.
SECTION II That said sum shall be
deposited with the Director of Finance
and the City Treasurer Of the City of
them in a separate and distinct fund, to
be known as the Christian Benninghofen
Trust Fund.
SECTION III: The City Manager, the
Director of Law and the Director of
Finance, or such officers of the City
who may hereafter perform the duties
of such officers, shall invest and rein
vest such money in such securities as
are authorized by the will and codicil OF
Christian Benninghofen, and such Sc
curities shall be deposited by them in g
safety deposit box in a bank in the City
of Hamilton, Ohio. All premiums on in
vestments shall be charged against prin.
cipal and the premiums paid shall be
, amortized over the life of the invest
mentS from the interest received from
) such investments. Such safety deposi
box shall be opened by the Director OF
Finance or the City Treasurer only il
the presence of the Director of Law, ol
the City Manager or both of them, ol
such officers of the City who may here
after perform the duties of such officers
t SECTION ": The income from sucl
/ fund shall be placed in separate ant
distinct fund, to be known the Chris
| tian Benninghofen Trust Fund, and shall
: be expended only for the purposes pro
I vided for in the last will and testamen
E of Christian Benninghofen deceased
Said fund shall be administered by tn
chief executive officer of the city am
all expenditures made from such fun
shall be approved by the chief executiv
SECTION V: All disbursements fror
such fund shall be made by the sam
officers of the city who are charge
with the duty of disbursing city funds
II and in the same manner.
). SECTION VI: This ordinance sha
a, take effect and be in full force and et
feet from and after the earliest perio
d allowed by the charter of the City c
t Hamilton, Ohio.
# Passed: October Is, 1899
IS r. II. BURKE, Mayor
sr Attest: ADELE EDMONDS,
In Clerk of Council
Oct. 17--1t