The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1940-11-22

Legal Advertisements

Of all members elected thereto concur
ring:
SECTION I: That it is deemed neces-
saly to borrow money in anticipation of
the collection of special assessments to
pay the cost and expense of the construc-
ton of sanitary sewers, house connec-
t1ons, manholes, lamp holes flush tanks,
etc where necessary on Chase Avenue,
from the west property line of Lots
Nos. 17l06 and 17115 to Putnam Avenue,
in part of Sub-district ID" Lindenwald
Sanitary Sewer District No /, in the
City of Hamilton, Ohio, under a general
plan for a system of sewerage adopted
by Council on the 1st day of July, 1881,
which plan is now on file in the office
of the Director of Finance of the City of
Hamilton, Ohio, and pursuant to Reso-
luton No. 1870 passed by the Council on
August 21, 1910, and in accordance with
the plans and specifications heretofore
approved and now on file in the office of
the Director of Finance and the Director
of Public Works, said sewers to be con-
concrete pipe, cast iron pipe, or as in
dicated on the plans and specifications
and estimates of cost, as provided in
Section 2293-24 of the General Code of
Ohio in the sum of $15616S, the esti-
mated cost of said Improvement.
SECTION II: That the City Manager
and Director of Finance of the City of
Hamilton Ohio, shall issue notes in the
amount of the monthly or semi-monthly
estimates of the Engineer on said i'm
provement; said notes shall bear interest
annum, and shall be dated on the date
the estimate for the payment of which
the note is issued becomes due and pay
able, and said notes shall be due and
payable on or before two years from
the date thereof. Said notes shall ex-
press upon their face the purpose for
which they We're 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
~ in 110n of yJat1 fnY0 hi
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, and that there shall
be and is hereby levied upon all of the
taxable property of the City of Hamil-
ton, Ohio in addition to all other taxes,
direct annual tax sufficient 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. Provided, however
that in each year that the assessments
anticipated by said notes are payable
and applicable to the payment of
such interest and principal and are ap-
propriated for such purposes, the amount
of such tax shall be reduced by the
amount of the assessment so appropri-
puted 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 pref
erence to all 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, together with all interest col
lected on the same, shall be irrevocably
pledged for the payment of the interest
and principal of said notes when and as
the same fall due.
SECTION ": That the proceeds aris-
ing from the sale of said notes shall be
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 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 of said monthly estimates for
the cost of said improvement as they
become due and payable
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.: November 6, 1910.
LEO j. WELSH, Mayor.
Attest: ADELE EDMONDS.
City Clerk.
Nov. 15-2t