The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1940-06-28

the issuance of bonds to be issued in
anticipation of the collection of special
assessments to pay the cost and ex-
pense of improving Minor Avenue Alley,
from Van Hook Avenue to Putnam Ave-
nue., in the Sixth Ward of the City of
Hamilton, Ohio, by grading and paving
the roadway thereof with a permanent
material such as sheet asphalt, asphaltic
concrete, Warrenite bitulithic, concrete,
brick, or any other type of material as
may be determined, and constructing
storm sewers, manholes and inlet basins
where necessary, as provided in Section
2293-24 of the General Code of Ohio, in
the sum of $952.11, the estimated amount
of said assessment.
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
Suance, and said note 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 Sec
tion 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 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 sufficient 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 II 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
amount of such tax shall be reduced by
/ 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 Tie nroner 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 for
! the full amount thereof, and all funds
derived from said levies hereby required
shall be placed in a separate and dis
tinct fund, which together with all in
terest collected on the same shall be
! irrevocably pledged for the payment OF
| the interest ana prlnclpal OF SAID notes
when and as the same fall due
SECTION ": 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 anticipation
! of the collection of deferred installments
of assessments and all cash payments
| of assessments shall be applied to the
payment of said note notes and in
terest thereon until both are fully pro
| vided for.
SECTION V: That the Director of Fl
| nance be and he is hereby authorized tC
issue his warrant to the Treasurer il
payment for the cost of said improve
/ ment.
SECTION VI: This ordinance shall
take effect and be in force from anC
after the earliest period allowed by tht
charter of the City of Hamilton, Ohio.
/ Passed. June 10, 1910.
LEO j. WELSH Mayor.
Attest: ADELE EDMONDS,
City Clerk.
June 2S--1t