The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1941-10-24
ORDINANCE NO. 42o1


An ordinance to issue bonds in anticipa-
tion OF the collection of special ASSESS
ments for the improvement Of Minor
| Avenue Alley, from Van Hook Avenue
to Putnam Avenue; Webster Avenue
Alley, from Summer Street to Hunter
Avenue; and Aze1 Avenue, from Law
SON Avenue to it's western terminus, 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
| WHEREAS, the Director of Finance
| has certified to this Council the estimated
| life of said improvements to be at least
five years. and has further certified the
| maximum maturity of the bonds here
| matter provided for as ten years; and
| WHEREAS, this Council estimates
that tax for said bonds will first ap-
| 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 a 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, 1943.
NOW THEREFORE, BE IT Or
| DAlNED 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 Minor Avenue Alley,
| from Van Hook Avenue to Putnam Ave
nue.; Webster Avenue Alley from sum
mer Street to Hunter Avenue; and Azel
| Avenue, from Lawson Avenue to it's
western terminus, in the City of Hamil-
4 ton, Ohio, in accordance with Ordinances
| Nos. 414l, 4140 and 4142, bonds of said
city shall be issued to the amount of
| 81, 435.61 to pay notes previously issued
| and about to mature. 1t is hereby re-
| cited and declared that there has been
| included in the amount of said bonds an
| amount sufficient to pay the interest
I thereon = a re
able. Said bonds shall be designated as
Minor Avenue Alley, Webster Avenue
Alley, and Azel Avenue, property owners
| portion; shall be in such denomination
| as determined by the Director of FL
nance; shall be dated November /, 194l,
and shall draw interest at the rate of
three per cent per annum, payable semi
annually on the 1St day of May and No
Vember or each year until the principal
| sum is paid, upon the presentation and
surrender of interest coupons to be at
tached to said bonds bearing the fac
simile signature of the Director of Fi-
nance. Said bonds shall mature as fol-
lows: $375.61 on the 1st day of Novem-
Der, l943, and $4,000 on November 1st
| in the years 1914 to 1852, both inclusive,
which maturities are hereby determined
| to be IN substantially equal annual in
| StallmentS.
| SECTION II: That said bonds shall he
prepared by the Director of Law, signed
| by the City Manager and Director of Eli
| nance, sealed with the corporate seal of
said city, and recorded in the office of
| the Sinking Fund Commission; shall ex-
press upon their face the purpose for
which they were 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 he 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 Gen
eral Code of Ohio, and said bonds shall
bear such consecutive numbers as the
Director of Finance and the proper of
ficers 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
Minor Avenue Alley, from Van
Hook Ave. to Putnam Ave. IS 54Ol9
Webster Avenue Alley, from
Summer st, to Hunter St.. 115SOS
Azel Avenue from Lawson
Ave. to its western terminus l,73T34
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
interest thereon, for which purposes said
money is hereby appropriated.
SECTION ": That all installments of
assessments and all portions thereof to-
gether with interest thereon, shall be an
piled to the payment of said bonds and
interest as the same shall become due,
and l, to ton no other purpose whatsoever.
SECTION V: 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 herefnabove 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
ha f<r,n. .,x.-.
bonds promptly when and as the same
falls due, and also to provide fund suf-
fic1ent to discharge the said serial bonds
at maturity, there shall be and is hereby
leVled 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 rum In an
amount sufficient to provide funds to nav
the interest upon said bonds as and when
the same shall fall due, and also to pro-
vide fund for the discharge of the
prlnclpal 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 l2 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
Tor Tor such purpose, the amount Of the tax
shall be reduced by the amount Of The
assessment 50 appropriated Said tax
shall be and is hereby ordered computed
cerllned, levied and extended upon the
tax duplicate and collected by the same
officers Off rs "a and in the same manner and at
the same time that taxes for general
purposes for each Of said years are GER
tilted, 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 fhe
same shall be irrevocably pledged for
the payment. of the principal and in
same fall due. e
SECTION VII: That the Clerk Of Conn
Gil IS hereby authorized and directed to
certify copy Of this ordinance to the
Auditor of Butler County, Ohio. accord
ing to law
SECTION VIII: This ordinance shall
take effect and be in full force and ef
feet from and after the earliest neriod
allowed by the charter of the City Of
Ohio.
PASSED. October Is, 1941
LEO J. WELSH, Mayor.
Attest: ADELE EDMONDS
City Clerk