The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1940-02-16

which maturities are hereby determined
to be in substantially equal annual in
stallments, all as fixed by said the Bu-
reau of Inspection and Supervision of
Public Offices
SECTION III: For the payment of
said bonds and the interest coupons
thereto attached the full faith, credit
and revenue of the City of Hamilton
cably pledged, and for the purpose of
providing the necessary funds to pay the
interest on the foregoing issue of bonds
promptly when and as the same falls
due, and also to provide fund sufficient
to discharge the said serial bonds at ma
turity, there shall be and is hereby levied
on all the taxable property in the City
of Hamilton, Butler County Ohio, in
addition to all other taxes direct tax
annually during the period said bonds
are to run in an amount sufficient to
provide funds to pay interest upon said
bonds. as and when the same falls due
and also to provide a fund for the dis
charge of the principal of said serial
bonds at maturity which tax shall not
be less than the interest and sinking
fund tax required by Section II of Ar
ticle MI of the Constitution.
That the interest and retirement leves
hereon shall have the same status with
respect to the limitations imposed by
Article XII, Section 2, of the Constitu-
tion as the interest, sinking fund and
retirement levies of the Indebtedness
which is refunded.
Said tax shall be and is hereby ordered
computed, certified levied and extended
upon the tax duplicate and collected by
the same officers in the same manner
and at the same time that taxes for gem
eral purposes for each of said years are
certified, levied extended and collected
Said tax shall be placed before and in
preference 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 dis
tinct fund, which together with all in
terest collected on the same, shall be
irreYocably pledged for the payment of
the interest and principal of said bonds
when and as the same fall due.
SECTION ": Said bonds shall be
signed by the City Manager and Di-
rector of Finance of said City, and the
interest coupons shall have the fac
simile signature of said Director of FL
nance printed or autographed thereon.
Said bonds shall express upon their face
the purpose for which they are issued,
and they are issued in pursuance of this
ordinance.
SECTION v: 1t is hereby determined
that all acts, conditions and things nee
essary to be done precedent to and in
the issuance of said bonds in order to
make the same legal, valid and binding
obligations of said City have been DONE
have happened and been performed in
regular and due form as required by
law, and that the tax for the payment
of the principal and interest as the same
fall due and are payable does not exceed
any limitations of taxation of said City
does not exceed any limitation of in
debtedneSs as fixed by law.
SECTION VI: The Director of Finance
of this City is hereby authorized and
directed to offer this issue of bonds first
to the Commissioners of the Sinking
Fund of said City, and if refused then
to the Treasury Investment Board, and
if refused, then the Director of Finance
| is directed to offer the same for sale
as provided by law, and receive bids for
the purchase thereof. Said bonds shall
not be sold for less than par and accrued
interest to the date of delivery.
The bond sale advertisement shall
state that anyone desiring to do so may
present a bid or bids for said bonds
based upon their bearing a different rate
vlded that where a fractional interest
rate is offered such fraction shall be
one-fourth of one per centum or null
tipleS thereof.
subject to call or redemption prior to
maturity at not more than par.
SECTION VIII: The Director of FL
nance of this City is hereby authorized
to keep a record Of the number, amount
and rate of each bond sold, the amount
received for it, to whom sold, and the
time when payable
directed to forward a copy of this ordi-
nance to the County Auditor.
SECTION X: This ordinance shall
take effect and be in full force and eff
feet from and after the earliest period
allowed by the charter of the City of
Hamilton Ohio.
Passed: February Z, 1910.
LEO j. WELSH, Mayor
| Attest: ADELE EDMONDS.
City Clerk.
Feb. 16-1t