The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1941-12-26
renite bitulithic, or any other type Of
material as may be determined.

material as may be determined.
BE 1T ORDAINED by the Council of
the City of Hamilton Ohio:
SECTION L That it is deemed neces-
Sary to borrow money in anticipation of
the issuance of bonds to be issued in an
ticipation of the collection of special as
SesSmentS to pay the cost and expense of
improving Ridgelawn Avenue Alley from
Gray Avenue to Webster Avenue, in the
First Ward of the City of Hamilton,
Ohio, by grading and paving the roadway
thereof to width of IA feet with a per-
manent material such as concrete, brick,
asphaltic concrete, Warrenite bitulithic,
or any other type of material as may
be determined, as provided in Section
229324 of the General Code of Ohio, in
the sum of $94080, the estimated amount
of said assessment.
SECTION II: That the City Manager
and the Director of Finance of the City
of Hamilton, Ohio, shall issue note or
notes for the above amount. Said note
or notes shall bear interest at the rate
not to exceed six per cent per annum,
and shall be dated as of date of the is
suance, and said note or notes shall be
due and payable on or before two years
from the date thereof Said note or notes
shall express upon their face the purpose
for which they were issued, that they
were issued in pursuance of this ordi-
nance and in accordance with Section
2293-24 of the General Code of Ohio, and
shall be signed by the City Manager and
the Director of Finance of Hamilton,
Ohio and sealed with the corporate seal
of said city.
SECTION III: That the faith, revenue
and credit of the City of Hamilton, Ohio,
are pledged to the prompt payment of
said notes hereinabove described in ac-
cordance with the laws and constitution
of the State of Ohio. In the event that
assessments are not levied or bonds are
not issued to provide fund for the pay
ment of such notes at maturity, there
shall be and is hereby levied upon all of
the taxable property of the City of Ham
ilton, Ohio in addition to all other taxes
a direct annual tax sufhc1ent to pay the
interest and to create a sinking fund to
redeem at maturity the above provided
for notes, which tax shall not be less
than the interest and sinking fund tax
required by Section II of Article II of
the Constitution. Provided, however, that
in each year that the assessments antici-
pated by said notes are payable and are
applicable to the payment of such inter-
est and principal and are appropriated
for such purpose, the amount of such tax
shall be reduced by the amount of the
assessment so appropriated The amount
of said tax to be computed by the taxing
authorities and to be certified to the
proper officers, and the same shall be
levied and collected as other taxes are
levied and collected. Said tax shall be
placed before and in preference to all
other items and for the full amount
thereof and all funds derived from said
levies hereby required shall be placed in
a separate and distinct fund which to-
gether with all interest collected on the
same shall be irrevocably pledged for
the payment of the interest and princi-
pal of said notes when and as the same
fall due.
SECTION w: That the proceeds aris-
ing from the sale of said notes shall be
placed to the credit of the fund for the
payment of said improvement and all un-
expended balances remaining in said
fund after the cost and expense of the
Improvement have been paid and the
proceeds of all bonds sold in anticipa-
tion of the collection of deferred INSTALL
mentS of assessments and all cash pay
ments of assessments shall be applied to
the payment of said note or notes and
interest thereon until both are fully pro-
vided for.
SECTION W That the Director of FL
nance be and he is hereby authorized to
issue his warrant to the Treasurer in
payment for the cost of said improve
ment
SECTION VI: This ordinance shall
take effect and be in force and effect from
and after the earliest period allowed by
the charter of the City of Hamilton, Ohio.
Passed. December II, 1941.
LEO j. WELSH. Mayor.
Attest: ADELE EDMONDS,
City Clerk.
Dec 26-1t