The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1940-03-08

notes therefor in anticipation of the col
lection of current revenues in and for
the fiscal year 1910, for said general
funds of the City of Hamilton, Ohio,
said sum for said general fund purposes
i'm said City, and which sum does not
exceed one-half of the amount estimated
to be received from the next ensuing
semi-annual settlement of taxes for such
fiscal year as estimated by the Budget
Commission, other than taxes to be re-
ceived for the payment of debt charges
and all advances.
SECTION II: That notes of said City
be issued in the sum of $780, 90 in
anticipation of the collection of current
revenue for said general fund of said
City of Hamilton, Ohio, in the year 1910.
Said notes shall be signed by the City
Manager and the Director of Finance of
said City, and sealed with the corporate
seal of said City. They shall express
upon their face that they are issued in
anticipation of the collection of current
revenues in the fiscal year 1910 for the
general fund of said City of Hamilton,
Ohio, and in anticipation of the collec
tion of said sum for general fund pur-
poses in said City, and that they are
issued in pursuance of this ordinance
and in accordance with Section 1884
of the General Code of Ohio. Said notes
shall be issued in such denominations as
may be determined by the Director of
Finance and the City Manager, and shall
be numbered consecutively from one to
the lOldI humber Oh HOIGS lSSu6u. Odlu
notes shall be dated the date on which
they shall be issued, and they shall be
issued in such amounts and at such time
and shall run for a period of not to ex-
ceed six months, and said notes shall
bear interest at the rate of not to ex-
ceed six per cent as determined by the
Director of Finance and the City Man
ager. Said notes shall not be sold for
less than par and accrued interest That
for the purpose of paying the principal
and interest of said notes. that such sum
as may be necessary out of the collec-
tion of the next semi-annual distribu-
tion of taxes in the sum of 500, 90
with interest and out of the proceeds of
the taxes distributed in March, 1910,
for the general fund of said City of
Hamilton, Ohio, be and the same is
hereby appropriated and applied to the
payment of the principal and interest
of said notes and the Director of FL
nance is hereby authorized to apply out
of the proceeds of said next semi-annual
distribution of taxes from the general
fund of said City sufficient funds for
the payment of the principal and interest
of said notes, and the funds derived
from the sale of said notes are to be
of the City of Hamilton Ohio.
SECTION III: That the faith, reve-
nue. and credit of the City of Hamilton,
Ohio, are hereby pledged for the prompt
payment of both principal and interest
of the notes hereinabove described and
in accordance with the laws and consti-
tuition of Ohio.
SECTION ": That there shall be and
is hereby levied upon all of the taxable
property in the City of Hamilton, Ohio,
in addition to all other taxes a direct
annual tax sufficient to redeem at ma
turity any deficiency in the interest or
principal of the above provided for
notes, arising out of the failure for any
reason to provide for the payment of
said notes and interest thereon, the
amount of said taxes to be computed by
the taxing authorities and certified tO
the proper officials, and the same shall
be levied and collected as other taxes
are levied and collected.
SECTION v: This ordinance is hereby
declared to be an emergency ordinance
and shall take effect and be in full force
and effect from and after it's passage
Passed: February %, 1910.
LEO j. WELSH, Mayor
Attest ADELE EDMONDS,
City Clerk
Mar Sit