The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1941-11-28
ORDINANCE NO. 42os

| O10kNA0S6 NJ t6OS
An ordinance to issue bonds in anticipa-
tion Of the collection Of special assess
ments for the improvement of Camp
| bell Avenue Alley, from Eighth Street
to Tenth Street; Greenwood Avenue
Alley A, from Greenwood Avenue Alley
b to Ninth Street, and Greenwood Ave-
nue. Alley b, from Greenwood Avenue
| to Ninth Street; Ridgelawn Avenue
| Alley, from Webster Avenue to Cereal
| Avenue; and Prytania Avenue Alley,
from Gray Avenue to Haldimand Ave-
nue.. 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 herein
after 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 1T OR
DAINED by the Council of the City of
Hamilton, State of Ohio:
| SECTION L: That for the purpose of
raising money in anticipation of the col
lection of special assessments for the
Improvement Of Campbell Avenue Alley,
from Eighth Street to Tenth Street;
Greenwood Avenue Alley A, from Green
wood Avenue Alley B to Ninth Street,
and Greenwood Avenue Alley B. from
Greenwood Avenue to Ninth Street;
Ridgelawn Avenue Alley, from Webster
Avenue to Cereal Avenue; and Prytania
Avenue Alley, from Gray Avenue to Hal
dimand Avenue, in the City of Hamilton,
| Ohio in accordance with Ordinances Nos
41S7, 41S6, 41S5 and 418S bonds of said
city shall be issued to the amount of
| S4,854.63 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
| thereon until said assessments are avail
able. Said bonds shall be designated as
| Campbell Avenue Alley, Greenwood Ave-
nue. Alleys A and B, Ridgelawn Avenue
| Alley, and Prytania Avenue Alley, prop
erty owners portion; shall be in such
| denomination determined by the Di-
| rector of Finance; shall be dated Decem-
! Der /, 194l, 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 pre-
| Sentation and surrender of interest cou-
| ponS to be attached to said bonds bear
| ing the fac-simile signature of the Di-
| rector of Finance Said bonds shall ma
ture as follows $4S9.63 on the 1st day
| of December, 1943, and $485.00 on De-
| cember 1St in the years 1914 to 1852
both inclusive, which maturities 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-
! hni, for tha IN
| 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, partlcu-
! larly the Uniform Bond Act of the Gen
erai 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
| interest 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 treas
ury to the credit of the aforesaid fund
Campbell Avenue Alley, from
Greenwood Avenue Alley A,
| from Greenwood Ave. Alley B
to Ninth ST, and Greenwood
Avenue Alley B, from Green
| wood Ave. to Ninth St....... 1,256.76
| Ridgelawn Avenue Alley, from
| Webster Ave to Cereal Ave-. S4S.24
Prytana Avenue Alley, from
| Gray Ave. to Haldimand Ave. 1868
| 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 ": That all installments of
assessments and all portions thereof, to-
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 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 hereinabove described, in accord
ance with the laws and constitution of
| the State of Ohio.
| 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 maturity, 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
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
maturity 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 an
| ticipated by said bonds are payable and
are applicable to the payment of such
| interest and principal and are appropri-
| ated for such purpose, the amount of the
| tax shall be reduced by the amount of
| the assessment so appropriated Said
| tax shall be and is hereby ordered com
puted, 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 GER
| 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 a 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 as the same
| fall due.
CIvC,TJON W.T.. That tho Citv Clark is