The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1939-10-27
ORDINANCE NO. 1869

ORDINANCE NO. 1869
To borrow money by issuing note or
notes in anticipation of the issuance
Of bonds to be issued in anticipation
of the collection of special assess
ments to pay the cost and expense of
improving Main Street Alley, from
Dick Avenne to Edgewood Avenue,
said Main Street Alley being the first
alley south of and parallel to Main
Street, in the First Ward of the City
of Hamilton, Butler County, Ohio, by
thereof with a permanent material
such as sheet asphalt asphaltic con-
crete, warrenite bitulithic, concrete,
brick, any other type of material
as may be determined, and construct
ing storm sewers, manholes and inlet
basins where necessary.
BE 1T ORDAINED by the Council of
the City Of Hamilton. Ohio:
SECTION l: That it is deemed neces-
sary 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 Main Street Alley, from
Dick Avenue to Edgewood Avenue, said
Main Street Alley being the first alley
south of and parallel to Main Street in
the First Ward of the City of Hamilton,
Butler County, Ohio, by grading and
paving the roadway thereof with a per-
manent material such as sheet asphalt,
asphaltic concrete, Warrenite bitulithic,
concrete, brick, or any other type OF
material as may be determined and con
Structing storm sewers, manhOleS and
inlet basins where necessary, as pro-
vided in Section 2293-24 of the General
Code of Ohio, in the sum of $1,969.O3,
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
pn n cent
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 of
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 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 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 sufhcient to
pay the interest and to create 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 III, of Ar
| ticle IL 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
/ 9 tax cha ha Ya61
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 fof
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 the same shall be
irrevocably pledged for the payment OF
the interest and principal of said notes
when the same fall due.
| SECTION ": That the proceeds aris.
ing from the sale of said notes sinai
be placed to the credit of the fund fol
the payment of said Improvement ant
all unexpended balances remaining IL
said fund after the cost and expense
of the Improvement have been paid anl
the proceeds of all bonds sold in antici
patton of the collection of deferred in
stallments of assessments and all casi
payments of assessments shall be ap
piled to the payment of said note o.
notes and interest thereon until botl
are fully provided for
SECTION v: That the Director o
Finance be and he is hereby authorized
, to issue his warrant to the Treasure
in payment for the cost of said i'm
SECTION VI: This ordinance shal
take effect and be in force from an
after the earliest period allowed by tn
charter of the City of Hamilton, Ohio.
Passed October 1S, 1889.
r. H. BURKE, Mayor.
II Attest: ADELE EDMONDS,
Clerk of Council
1 Oct. 27-1t