The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1939-08-25

Ward of the City of Hamilton, Ohio,
by grading and paving said alley be-
tween said points with a 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 $7S0.14, 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
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 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
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
payment of such notes at maturity,
there shall be and is hereby levied upon
all OF the taxable property of the City
other taxes direct annual tax suff-
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 prin-
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
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 to-
gether with all interest collected on the
same shall be irrevocably pledged for
the payment of the interest and prin-
cipal 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 thereon 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 improve
ment
SECTION vi: 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: August 16 1889
r. Fl. BURKE, Mayor.
Attest: ADELE EDMONDS,
Clerk of Council.
Aue 95-1f