The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1940-07-12
ORDINANCE NO. 4o22
July Pit

ORDINANCE NO. 1929
An ordinance providing for the issuance
of bonds of the City of Hamilton, Ohio
for the purpose Of paying the City's
portion of the cost and expense of con-
structing storm sewers, manholes and
| inlet basins on Laurel Avenue Alley,
from Madison Avenue to Van Hook
Eighth Street to Ninth Street; Web
ster Avenue Alley, from Summer
Street to Hunter Street; Franklin Ave-
nue. Alley, from Mckinley Avenue to
/ Kenworth Avenue; Minor Avenue AL
ley, from Van Hook Avenue to Putnam
Avenue; and Prytania Avenue Alley,
from Gray Avenue to Haldimand Ave-
nue., in the City Of Hamilton, Ohio.
| WHEREAS, the Council has requested
! the Director of Finance to issue his GER
| tificate as to the estimated life of the
| Improvement proposed to be acquired or
constructed from the proceeds of the
| bonds hereinafter referred to; and
| WHEREAS. the Director of Finance
has certified to this Council the esti-
mated life of said Improvement to be at
least five years and has further certified
the maximum maturity of the bonds
hereinafter provided for as twenty-five
years; and
WHEREAS, the Council estimates that
tax for said bonds will first appear on
the duplicate for the tax year 1910 and
that the final tax settlement of the
County Treasurer next following the
inclusion of a tax for this issue in the
annual budget of the County Auditor,
as provided by law will be obtained not
earlier than the 1st day of September,
1941.
Now THEREFORE, BE IT OR
DAINED by the Council of the City of
Hamilton, Ohio:
SECTION l. That ii is deemed neces-
sary by the Council of the City of Ham
ilton, Ohio to issue and sell bonds of
said city in the sum of s1,S50.00 in order
to provide fund for the purpose of pay
ing the City's portion of the cost and ex-
pense of constructing storm sewers
manholes and inlet basins on Laurel
Avenue Alley, from Madison Avenue to
Van Hook Avenue; Heaton Street Alley
from Eighth Street to Ninth Street;
Webster Avenue Alley, from Summer
nue. Alley, from Mckinley Avenue to
Kenworth Avenue; Minor Avenue Alley,
from Van Hook Avenue to Putnam Ave-
nue.; and Prytania Avenue Alley, from
Gray Avenue to Haldimand Avenue, in
the City of Hamilton Ohio, and to pro-
vide fund for the payment of not to
exceed one years interest on said bonds.
SECTION II: That it is hereby deter
mined to proceed with the issue of said
bonds in one lot and without issuing
notes in anticipation of the issuance of
said bonds.
SECTION III: That serial bonds of the
City of Hamilton, Ohio, shall be issued
in the sum of $1,850.00. Each of said
bonds shall be dated August /, 1910, and
shall bear interest at the rate of three
per cent per annum, payable semi-annu
ally on the 1St day of March and Sep
tember in each year until the principal
sum is paid, upon presentation and sur
render of interest coupons to be attached
to said bonds bearing the facsimile sig
nature of the Director of Finance; that
said bonds shall mature as follows:
$1S5.00 on the 1st day of September in
the years 1941 to 1850, both inclusive,
which maturities are hereby determined
substantially pnn9l
StallmentS.
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
i1ton 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 issued in
pursuance of this ordinance, and 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
City's share of the cost and expense of
constructing storm sewers manholes
and inlet basins on Laurel Avenue Alley,
from Madison Avenue to Van Hook Ave
nue.; Heaton Street Alley, from Eighth
Street to Ninth Street; Webster Avenue
Alley, from Summer Street to Hunter
Street: Franklin Avenue Alley, from Nc
Kinley Avenue to Kenworth Avenue:
Minor Avenue Alley, from Van Hook
Avenue to Putnam Avenue; and Prytania
Avenue Alley, from Gray Avenue to Hal
dimand Avenue, in the City of Hamilton,
Ohio and for no other purpose, and shall
be dfSbnrSed upon proper vouchers for
the purpose specified herein, for which
purpose said money is hereby appro-
priated.
SECTION ": 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 ac-
cordance witlt the laws and constitu-
tion of the State of Ohio.
SECTION VI: For the purpose of pro-
terest on the foregoing issue of bonds
promptly when and as the same falls
due, and also to provide a fund sufficient
to discharge the said serial bonds at ma
turity, 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
said bonds as and when the same falls