The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1939-04-14

shall bear interest at the rate of three
per cent per annum, payable semi-an-
nually on the 1St day of May and No
vember in each year until the principal
sum is paid, upon presentation and sur
render of interest coupons to be at
tached to said bonds bearing the fac
simile signature of the Director of FL
nance; that said bonds shall mature as
follows: $4,000 on the 1st day of No
vember 1910, and $4,000 on the 1st day
of November in the years 1941 to 1949,
both inclusive, which maturities are
hereby determined to be in substantially
equal annual inStalmentS.
Said bonds shall be issued executed
and disposed of in accordance with the
general laws of the State of Ohio, par
ticularly the Uniform Bond Act of the
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 is
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 a fund for
the payment of interest accruing on said
bonds previous to the receipt of taxes
from which such interest is to be ulti-
mately paid and the premium and ac-
crued interest thereon, shall be credited
to fund for the purpose of paying the
Citys share of the cost and expense of
constructing storm sewers, manholes
and inlet basins NoyeS Avenue from
Van Hook Avenue to Benninghofen Ave-
nue., c Street Alley, from Elvin Ave-
nue. Alley to Jackson Street, on Elvin
Avenue Alley, from c Street Alley to d
Street, and on Vanderveer Avenue AL
ley, from Lockwood Avenue Alley to
Fair Avenue Alley, in the City of Ham
ilton Ohio, and for no other purpose
and shall be disbursed upon proper
vouchers for the purpose specified
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 fund suff-
cient 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 a fund for the
discharge Of the principal of said serial
bonds at maturity, which taxes shall not
be less than the interest and sinking
| fund tax required by Section H. Article
II, 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 a 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 certified
copy, of this ordinance to the County
| 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: April 5, 1899
r. H. BURKE, Mayor,
| Attest: ADELE EDMONDS,
Clerk of Council
| Apr. 14-lt