The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1940-03-15

in addition to all other taxes a direct
tax annually during the period said
bonds are to run, in an amount sufficient
10 provide funds to pay 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
ponds at maturity, which tax shall not
be less than the interest and sinking
fund tax required by Section II of Ar
ticle XII of the Constitution
That the interest and retirement levies
hereon shall have the same status with
respect to the limitations imposed by
Article XII, Section g. of the Constitu-
tion as the interest, sinking fund and
retirement levies of the Indebtedness
which is refunded.
Said tax shall be and is hereby or
dered computed, certified, levied and ex-
tended upon the tax duplicate and col
lected by the same officers i'm the same
manner and at the same time that taxes
Tor general purposes for each of said
years are certified levied, 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 levies
hereby required shall be placed in q
separate and distinct fund, which to-
gethef with all interest collected on the
same, shall be irrevocably pledged for
the payment of the interest and prin-
cipal of said bonds, when and as the
same fall due.
SECTION ": Said bonds shall be
signed by the City Manager and D-
rector of Finance Of said City, and the
interest coupons shall have the facsimile
signature of said Director of Finance
printed or Autographed thereon Said
bonds shall express upon their face the
purpose for which they are issued, and
they are issued in pursuance of this
ordinance
SECTION V: 1t is hereby determined
that all acts, conditions and things nee
essary to be done precedent TO and in
the issuance of said bonds in order to
make the same legal, valid and binding
obligations of said City have been done
have happened and been performed in
regular and due form as required by
law, and that the tax for the payment
OF the principal and interest as the same
fall due and are payable does not exceed
any limitations of taxation of said City
and that the amount of this bond issue
does not exceed any limitation of in
debtedness as fixed by law
SECTION VI: The Director of Finance
of this City is hereby authorized and
directed to offer this issue of bonds first
to the Commissioners of the Sinking
Fund of said City, and if refused, then
to the Treasury Investment Board, and
ii refused, then the Director of Finance
is directed to offer the same for sale as
provided by law, and receive bids for
the purchase thereof. Said bonds shall
not be. sold for less than par and ac-
crued interest to the date of delivery.
The bond sale advertisement shall
state that anyone desiring to do so NAV
present bid or bids for said bonds
upon lHtl DedTlHS Inherent rate OF
interest than hereinbefore fixed, pro-
vided that where a fractional interest
rate is offered, such fraction shall be
one-fourth of one per centum or null
tiples thereof.
SECTION VII: These bonds shall be
subject to call or redemption prior to
maturity at not more than par.
SECTION VIII: The Director of FL
nance of this City is hereby authorized
to keep record of the number, amount
and rate of each bond sold, the amount
received for it, to whom Sold and the
time when payable
SECTION TX: The City Clerk is hereby
directed to forward copy of this or
dinance to the County Auditor.
SECTION X: This ordinance shall take
effect and be in full force and effect from
and after the earliest period allowed by
the charter of the City of Hamilton,
Ohio.
Passed: March 6, 1910.
LEO j. WELSH, Mayor.
Attest: ADELE EDMONDS,
City Clerk.
Mar l5-lt