The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1940-03-29

fac-simile signature of the Director of
Finance.
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
ilton, Ohio Said bonds shall bear such
consecutive numbers as the Director of
Finance or the proper officer of the City
shall determine, and said bonds shall ex-
press upon their face the purpose for
which they are issued, that they are is
sued 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 said interest is to be ult-
mately paid, and the premium and ac-
crued interest thereon shall be credited
TO fund for the purpose of paying the
Cfty's part Of the cost and expense of
the Improvement as set forth in Section |
OF this ordinance, and shall be diSbursed
upon proper vouchers for the purpose
specified herein. for which purpose said
money is hereby appropriated and said
City Manager is hereby authorized to
y
or incidental thereto.
SECTION V: 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
the bonds hereinbefore described, in ac-
cordance with the laws and Constitution
of the State of Ohio.
SECTION VI For the purpose of pro-
Yidng the necessary funds to pay the
interest on the foregoing issue of bonds
promptly when and as the same shall
fall due, and also to provide a fund Suf-
ficient TO discharge said bonds at ma
turity, there shall be and is hereby levied
on all the taxable property in the City
of Hamilton, i'm addition to all other
taxes, direct tax annually during the
period of time said bonds are to run i'm
an amount sufficient to provide funds to
pay the interest upon said bonds as and
when the same falls due, and also to
provide a fund for the discharge of the
principal of said serial bonds at ma
turity, which taxes shall not be less than
the interest and Sinking Fund Tax re-
quired in Section IT, Article 2, of the
Constitution of the State of Ohio.
Said tax shall be and is hereby ordered
computed, certified, levied and extended
upon the tax duplicate and collected by
the same officials in the same manner
and al the same time that taxes for gen
eral purposes of each of said years are
certified extended and collected Said
tax shall be placed before and in pref
erence to all other items and for the full
amount thereof. The funds derived from
said tax leVieS hereby required shall be
placed in a separate and distinct fund
which together with the interest coll
lected on the same, shall be irreVocably
pledged for the payment of principal and
interest on said bonds when and as the
same fall due.
SECTION VII; These bonds shall be
subject to call or redemption prior to
maturity at not more than par and ac-
crued interest.
SECTION VIII: This ordinance shall
take effect and be in full force and ef-
feet from and after the earliest period
allowed by the charter of the City of
Hamilton, Ohio
Passed: March 90 1910.
LEO ]. WELSH, Mayor.
Attest: ADELE EDMONDS,
City Clerk