The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1939-06-30

| of the City Of Hamilton, Ohio, by
| grading and paving said alleys be-
material such as concrete, asphalt,
/ brick, aspha1tic concrete, Warrenite
bitulithic, or any other type of ma
terial as may be determined.
| BE 1T ORDAINED by the Council of
the City of Hamilton, Ohio:
! SECTION /: 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
f Street to Millville Avenue, said Main
Street Alley being the first alley south
! of and parallel to Main Street, and f
! Street Alley A, from Main Street to Ross
| Avenue, said f Street Alley being the
| first alley west of and parallel to F
| Street in the First Ward of the City of
Hamilton, Ohio, by grading and paving
| said alleys between said points with a
permanent material such as concrete,
asphalt, brick, asphaltic concrete, War
renite bitulithic, or any other type of
material as may be determined, as pro-
vided in Section 2293-24 of the General
| Code of Ohio, in the sum of $2,393.74,
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
not to exceed six per cent per annum,
and shall be dated as of date of the is
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 We're 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 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
| of Hamilton, Ohio in addition to all
other taxes a direct annual tax suffi-
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 ii
| of Article / 2 of the Constitution. Pro
| vided however, that in each year that
i 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
placed before and in preference to al
other items and for the full amount
thereof and all funds derived from saic
levies hereby required shall be placed
in a separate and distinct fund, which
together with all interest collected or
the same shall be irrevocably pledged
for the payment of the interest an6
principal 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 an
! ticipation of the collection of deferred
installments of assessments and all cash
! payments of assessments shall be APP
! piled to the payment of said note or
notes and interest thereon until both
are fully provided for
! SECTION V: That the Director of
Finance be and he is hereby authorized
! to issue his warrant TO the Treasurer
I in payment for the cost of said inn
provement.
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: June 81. 1899
r. II. BURKE, Mayor.
Attest: ADELE EDMONDS,
Clerk of Council
June 30--1t