The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1940-11-29
ORDINANCE NO, 4oe,

To borrow money by issuing note or
notes in anticipation of the issuance
of bonds to be issued in anticipation
of the collection of special assess
ments to pay the cost and expense of
improving Walnut Street Alley, from
Fourth Street to Fifth Street, and
Fifth Street Alleys ga" and stB," from
Walnut Street to Walnut Street Alley,
in the Fourth Ward of the City of
Hamilton, ohio, by grading and paw
ing the roadway thereof for width
of Id feet in Walnut Street Alley, 10
feet in Fifth Street Alley "E" and
feet in Fifth Street Alley IA" with a
permanent material such as concrete,
brick, asphalt, asphaltio concrete,
Warrenite bitulithio. or any other
type of material as may be determined
BE TT ORDAINED by the Council of
the City of Hamilton, Ohio:
SECTION l: That it is deemed neces-
Sary to borrow money IN anticipation OF
the issuance of bonds to be issued in an
ticipation of the collection of special as
sessments to pay the cost and expense
of improving Walnut Street Alley, from
Fourth Street to Fifth Street and Fifth
Street Alleys "a" and "B, from Walnut
Street to Walnut Street Alley, In the
Fourth Ward of the City of Hamilton,
Ohio by grading and paving the roadway
thereof for width of IA feet In Walnut
Street Alley, 10 feet in Fifth Street
Alley "B'' and feet in Fifth Street AL
ley "A" with a permanent material such
as concrete, brick, asphalt, aSphaltic
concrete, Warrenite bitulithic, or any
other type of material as may be deter
mined, as provided in Section 2293-24 OF
the General Code of Ohio, in the sum OF
$1,31100, the estimated amount of said
assessment
SECTION IL That the City Manager
and the Director of Finance of the City
of Hamilton Ohio, shall issue note OF
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 or notes shall be
due and payable on or before two years
from the date thereof. Said note OF
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 sea
of said city.
SECTION III: That the faith, reve.
hue and credit of the City of Hamilton
Ohio, are pledged TO the prompt payment
of said notes hereinabove described iT
accordance with the laws and constitu
tion of the State of Ohio; in the even
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 upor
all of the taxable property of the City
Of Hamilton Ohio in addition to al
other taxes a direct annual tax sufficien
ing fund to redeem at maturity th'
above provided for notes, which tax shall
not be less than the interest and sinking
fund tax required by Section II of Ar
tole Ia of the Constitution. Provided
however that in each year that the as
sessments anticipated by said notes ar
payable and are applicable to the pay
ment of such interest and principal ant