The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1941-08-15

/ rate of two per cent per annum, payable
April 1st and October 1st in each yeal
upon presentation and surrender of in.
| terest coupons to be attached to said
| bonds bearing the facsimile 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 w: 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 fund
for the payment of interest accruing on
said bonds previous to the receipt of
taxes, from which said interest is to be
ultimately paid, and the premium and
accrued interest thereon shall be cred
tied to a fund for the purpose of paying
the City'S part of the cost and expense
of the improvements as set forth in
Section | of this ordinance, and shall be
disbursed upon proper vouchers for the
purposes specified herein, for which pur-
pose said money is hereby appropriated,
and said City Manager is hereby author
lied to execute any and all contracts
necessary 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-
viding the necessary funds to pay the
interest on the foregoing issue of bonds
promptly when and as the same fall due,
and also to provide a. fund sufficient to
discharge said bonds at maturity, there
shall be and is hereby levied on all the
taxable property in the City of Hamilton,
in addition to all other taxes a direct
tax annually during the period of time
said bonds are to run in an amount Suf-
ficient to provide funds to pay the in
terest upon said bonds as and when the
same falls due, and also to provide
fund for the discharge of the principal
of said serial bonds at maturity which
taxes shall not be less than the interest
and Sinking Fund tax required in Sec
tion H. Article IL, 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
general 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 col
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: The City Clerk is
hereby directed to forward a certified
copy of this ordinance to the County
Auditor.
SECTION TX: 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: August g. 1941.
LEO j. WELSH, Mayor.
Attest: ADELE EDMONDS,
City Clerk
Aug. l5-1t