The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1941-06-27

AND WHEREAS, there has been filed
with this Council the approval of the
Board of Tax Appeals of the Department
of Taxation of Ohio.
THEREFORE, BE 1T ORDAINED by
the Council of the City of Hamilton,
Ohio:
SECTION L: That for the purpose of
refunding said bonds which are hereby
declared to be valid and existing obli-
cations of said City of Hamilton, Ohio,
it is necessary to issue and there shall
be issued and sold bonds of this City of
Hamilton Ohio, under authority of Sec
tions 2293-5, 2293-25 and 2293-26 of the
General Code of Ohio, in one lot in the
principal sum of $119,627.60, and with
out issuing notes in anticipation of the
issue of said bonds.
SECTION II: Said bonds shall be dated
the 1st day of July, 1941, and shall be
in the denomination as determined by
the Director of Finance. Said bonds
shall be serial bonds and shall bear in
terest at the rate of two per cent per
annum, payable semi-annually OH the 1st
day of April and the 1st day of October
of each year until the principal sum is
paid, as evidenced by coupons attached
| thereto. Both principal and interest of
| said bonds shall be payable at the office
| of the Treasurer of the City of Hamilton
| at Hamilton, Ohio, upon presentation
| and surrender of bonds and interest cou-
| pons as they respectively mature Said
| bonds shall mature as follows: $11, ,627. so
on the 1st day of October, 1943, and
| $12 100000 on October 1st in the years
| 1914 to 1852, both inclusive, which ma
| TURTLES are hereby determined to be in
substantially equal annual installments,
all as fixed by the Board of Tax Appeals
| of the Department of Taxation of Ohio.
| SECTION III: For the payment of said
1 bonds and the interest coupons thereto
attached the full faith, credit and reve-
nue. of the City of Hamilton. Butler
County, Ohio, is hereby irrevocably
pledged, and for the purpose of provid-
| ing the necessary funds to pay the in
| terest 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 the taxable property in the City
| of Hamilton, Butler County, Ohio in ad-
| dition to all other taxes direct tax an
| nually during the period said bonds are
to run, in an amount sufficient to provide
| funds to pay interest upon said bonds as
and when the same falls due and also to
| provide a fund for the discharge Of the
| principal of said serial bonds at ma
turity, which tax shall not be less than
the interest and sinking fund tax re-
| quired by Section IL of Article ~ OF
| the Constitution.
That the interest and retirement levies
| hereon shall have the same status with
respect to the limitations imposed by
Article 12, Section 2, Of the Constitu-
tion as the interest, sinking fund and
retirement levies of the Indebtedness
| which is refunded.
i Said tax shall be and is hereby or.
dered computed, certified, levied and ex-
tended upon the tax duplicate and col
lected by the same officers in the same
manner and at the same time that taxes
for general purposes for each of saiG
years are certified levied, extended and
collected. Said tax shall be placed be
fore and In preference to all other items
and for the full amount thereof. Tht
funds derived from said tax levies hereby
required shall be placed In separate