The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1940-09-13

Ohio, by grading and paving the road
way thereof to a width of 10 feet witt
a permanent material such as sheet as
| phalt, aSphaltic concrete Warrenlte btu
! lithic, concrete, brick, or any other type
of material as may be determined and
| constructing storm sewers manholes and
in Section 2293-24 of the General Code
| of Ohio in the sum of $1,300.29, the es-
timated 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 iSSu-
ance, and said note or 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 pur-
they We're 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 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
assessment are not levied or bonds are
not issued to provide a 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 Ham
ilton, Ohio, in addition to all other taxes
a direct annual tax sufficient to pay the
interest and TO create sinking fund to
redeem al maturity the above provided
for notes, which tax shall not be less
than the interest and sinking fund tax
required by Section III of Article 2 of
the Constitution. Provided, however.
that in each year that the assessments
ts.ut1 tod Il Il
are applicable to the payment Of such
interest and principal and are appropri-
ated for such purpose the amount of
such tax shall be reduced by the amount
of the assessment so appropriated The
amount of said tax to be computed by
the taxing authorities and to be certi-
fed 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 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 distinct fund, which
together with all interest collected on
the same shall b. rreVocably pledged
for the payment of the interest and prin-
cipal of said notes when and as the same
fall due.
SECTION ": That the proceeds aris-
ing from the sale Of said note 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 pro-
ceeds of all bonds sold in anticipation
of the collection of deferred nStallments
of assessments and all cash payments Of
assessments shall be applied to the pay
ment of said note or 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 for the cost of said improve
ment
SECTION VI: This ordinance shall
take effect and be in force from and after
the earliest period allowed by the char
ter of the City of Hamilton Ohio.
Passed: September g. 1910
LEO j WELSH, Mayor
Attest: ADELE EDMONDS,
City Clerk.
Sent 13-lts