The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1941-04-11

Boulevard Alley and Pine Street Alley,
Ridgelawn Avenue Alley, VanDerVeer
Avenue Alley, Heaton Street Alley, Front
Street Alley B, Main Street Alley, Hal
dimand Avenue Alley and e Street Alley,
property owners portion; shall be in
such denomination as determined by the
Director of Finance; shall be dated May
l. 1941, and shall draw interest at the
rate of three per cent per annum, pay
able Senni-annually on the 1st day of
| May and November 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 facsimile signature of the Di-
rector of Finance. Said bonds shall ma
| ture as follows S6S6.63 on the 1st day
of November, 1912, and $680.00 on No
yember 1st in the years 1943 to 1851,
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 Finance sealed with the corporate
seal of said city, and recorded in the Of
| flee of the Sinking Fund Commission;
| shall express upon their face the purpose
| for 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 Hamil-
ton, Ohio. Said bonds shall be issued,
executed ana disposed OF IN accordance
with the general laws of the State of
Ohio, particularly the Uniform Bond
Act of the General Code of Ohio. and
said bonds shall bear such consecutive
numbers as the Director of Finance and
the proper officers of the city shall de-
termine.
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,
follows:
Main Street Alley from Dick
Avenue to Edgewood Avenue s1,224.12
Ford Boulevard Alley, from Pine
Street to Poplar Street, and
Pine Street Alley, from Ford
Boulevard to Ford Boulevard
Alley NEUTRALITY-SUSPICIOUS.. 644.49
Ridgelawn Avenue Alley from
Cereal Avenue to Haldimand
Avenue Observation-Disclosures. 1924
VanDerVeer Avenue Alley from
Fair Avenue to Fair Avenue
Alley 90s.67
Eighth Street to Ninth Street. 1850
Front Street Alley "B," from
Court Street to High Street. 212.64
Main Street Alley from Edge
wood Avenue to Lawn Avenue 1,910.6S
Haldimand Avenue Alley from
Street to F Street and E
Street Alley, from Haldimand
Avenue Alley to Haldimand
avenue
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 here
tofore issued for said purpose, and the
interest thereon, for which purposes said
money is hereby appropriated
SECTION w: 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.
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 ali
other taxes 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
maturity, which tax shall not be less
than the interest and sinking fund tax
required by Section II, of Article IL of
the Constitution. Provided however,
that in each year that the assessments
anticipated by said bonds are payable
and applicable to the payment of
such interest and principal and are ap-
propriated for such purpose, the amount
of the tax shall be reduced by the
amount of the assessment so appropri-
ated. Said tax shall be and is hereby
ordered computed, certified, levied and
extended upon the tax duplicate and col
lected 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 certified, extended and
collected. Said tax shall be placed be-
fore 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 to-
gether with interest collected on the
same shall be irrevocably pledged for
the payment of the principal and in
terest on said bonds when and as the
same fall due.
SECTION VII: That the City Clerk is
| hereby authorized and directed to GER
tify a copy of this ordinance to the Au-
ditor of Butler County, Ohio, according
to law.
SECTION VIII: This ordinance shall
take effect and be in full force and ef-
feet from and after the earliest period
allowed by the charter of the City of
Hamilton Ohio.
Passed: April 2, 1941.
LEO J. WELSH, Mayor.
Attest: ADELE EDMONDS,
City Clerk.
Anr 1-1t