The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1941-11-28
ORDINANCE NO. 1908


Street. and Chase Avenue, from the
west property line of Lots Number
17lo6 and 17l15 to Putnam Avenue, in
part of Sub-district d, Lindenwald
Sanitary Sewer District Number l, in
the City Of Hamilton, Ohio.
/ WHEREAS, this Council has requested
| the Director of Finance to issue his GER
tificate as to the estimated life of the
property assessed: and
VIII EREAS, the Director of Finance
has certified to this Council the esti-
mated life of said improvements to be
at least five years, and has further GER
! tilted the maximum maturity of the
bonds hereinafter provided for as ten
| years; and
WHEREAS, this Council estimates
that tax for said bonds will first APP
pear on the duplicate for the tax year
! 1912, and that the final tax settlement
with the County Treasurer next follow
ing the inclusion of tax for this issue
in the annual budget of the County Au-
ditor, as provided by law, will be OBJ
tanned not earlier than the 18th of Sep
! tember 1913
NOW THEREFORE, BE IT OR
| DAINED by the Council of the City of
! Hamilton, State of Ohio:
SECTION / That for the purpose of
| raising money in anticipation of the col
! lection of special assessments for the
! Improvement of Race Street from Sec
ond Street to Third Street, and Chase
Avenue, from the west property line of
Lots Number 17106 and 17115 to Putnam
! Avenue, in part 70 Sub-district D. Lin
| denwald Sanitary Sewer District Num-
ber l., in the City of Hamilton, Ohio, in
accordance with Ordinances Nos. 41S4
and 41S1, bonds of said city shall be is
sued in the amount of $1,933.S1 to pay
notes previously issued and about to ma
| ture. It is hereby recited and declared
that there has been included in the
| amount of said bonds an amount Suffi-
cient to pay the interest thereon until
| said assessments are available. Said
| bonds shall be designated as Race Street
and Chase Avenue property owners por-
| ton; shall be in such denomination as
| determined by the Director of Finance
| shall be dated December |, 1941 and shall
! draw interest at the rate of three per
cent per annum, payable semi-annually
| on the 1St day of June and December
| of each year until the principal sum is
! paid, upon the presentation and surrender
! of interest coupons to be attached to said
bonds bearing the fac-simile signature of
| the Director of Finance. Said bonds shall
mature as follows: $178.S1 on the 1st
day of December. 1943, and $195.00 on
! December 1St in the years 1914 to 1852,
| both inclusive, which maturtes are
/ hereby determined to be in substantially
equal annual installments.
! SECTION II: That said bonds shall be
prepared by the Director of Law, signed
| by the City Manager and Director of FL
/ nance, sealed with the corporate seal of
| said city and recorded in the Office of
| the Sinking Fund Commission; shall ex-
which they are issued and the fact that
| they are issued pursuant to law and this
| ordinance, and shall be payable, both
! principal and interest, at the office of the
| Treasurer of the City of Hamilton Ohio
| Said bonds shall be issued, executed and
| disposed of in accordance with the gen.
eral laws of the State of Ohio, particu-
| larly the Uniform Bond Act of the Cen
eral Code of Ohio, and said bonds shall
| bear such consecutive numbers as the
Director of Finance and the proper Off
GERS of the city shall determine.
SECTION III: That upon the sale of
said bonds any premium and accrued in
| tereSt realized thereon shall be paid to
| the Sinking Fund Commission The par
value realized from the sale of said
/ bonds shall be placed in the city treasury
! to the credit of the aforesaid fund, as
| follows.
Race Street from Second Street
to Third Street .............$ 1901
! Chase Avenue, from the west
property line of Lots Number
17106 and 17115 to Putnam
Avenue, in part of Sub-district
D. Lindenwald Sanitary Sewer
District Number 1 1........... 1,153.10
and shall be disbursed from said fund
| on proper vouchers in payment of the
expense of the improvements aforesaid,
! and to the payment of the notes hereto
fore issued for said purposes, and the
| interest thereon for which purposes said
money is hereby appropriated
SECTION w: That all nstallments of
|
gether with interest thereon, shall be
applied to the payment of said bonds
and interest as the same shall become
due, and to no other purpose whatsoever.
SECTION ": That the faith, revenue
and credit of the City of Hamilton are
hereby pledged for the prompt payment
of both principal and interest of the
| bonds hereinabove described in accord
ance with the laws and constitution of
the State of Ohio
SECTION VI: That 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 taxable property in the City of
! Hamilton, Ohio, in addition to all other
| taxes a direct tax annually during the
period said bonds are to run, in an
amount sufficient to provide funds to
! pay the interest upon said bonds as and
when the same shall fall due, and also
! to provide a fund for the discharge of
! the principal of said serial bonds at ma
! turity, which tax shall not be less than
! the interest and sinking fund tax re-
| quired by Section II of Article 12 of the
! Constitution Provided however, that in
each year that the assessments antici-
| pated by said bonds are payable and are
| applicable to the payment Of such inter-
| est and principal and are appropriated
| for such purpose the amount of the tax
| shall be reduced by the amount of the
1 assessment SO appropriated. SAID tax
| shall be and is hereby ordered computed
! certified, levied and extended upon the
| tax duplicate and collected by the same
| officers and in the same manner and at
| the same time that taxes for general
| purposes for each of said years are cer-
| titled, 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 separate and distinct fund which
| together with interest collected on the
same shall be irrevocably pledged for
the payment of the principal and interest
of said bonds when and the same
| fall due.
1 SECTION VII: That the Clerk of Coun-
| ell is hereby authorized and directed to
certify a copy of this ordinance to the
Auditor of Butler County, Ohio, accord
| ing to law.
SECTION VIII: This ordinance shall
4 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: November 10, 1941.
LEO ]. WELSH, Mayor.
Attest: ADELE EDMONDS,
City Clerk.
Nov. 2s-1t