The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1941-11-28
Legal Advertisements

nomination determined by the Director
of Finance. Said bonds shall be dated
December /, 1941, and shall be due and
payable $4,000 on the 1st day OF De-
cember in each of the years 1943 to 1852
both inclusive, which maturities are
hereby determined to be in substantially
equal annual installments, and shall draw
interest at the rate of two per cent per
annum payable June 1st and December
lst In each year upon presentation and
surrender of interest coupons to be at
tached to said bonds bearing the fac
simile signature of the Director of FL
nance.
Said bonds shall be issued, executed
and disposed of in accordance with the
general laws of the State of Ohio par
ticularly the Uniform Bond Act of the
General Code of Ohio
The principal and interest of said
bonds shall be payable at the Office of
the City Treasurer of the City of Ham
ilton, Ohio. Said bonds shall bear such
consecutive numbers as the Director of
Finance or the proper officer of the city
shall determine, and said bonds shall ex-
press upon their face the purpose for
which they are issued, that they are is
sued in pursuance of this ordinance, and
shall be signed by the City Manager and
the Director of Finance and sealed with
the corporate seal of said city.
SECTION w: The proceeds from the
sale OF said bonds, except the sum in
cluded in the amount of the issue to the
extent necessary to provide fund for
lHe payment OF interest dccrulnR i'd
bonds previous to the receipt of taxes
from which said interest is to be ulti-
mately paid, and the premium and ac-
crued interest thereon shall be credited
to fund for the purpose of paying the
CITY part of the cost and expense of
the improvements as set forth in Sec
ton l of this ordinance, and shall be
dfSburSed upon proper vouchers for the
purposes specified herein, for which pur-
pose said money is hereby appropriated,
and said City Manager is hereby author
lied to execute any and all contracts nee
essary or incidental thereto
SECTION v: That the faith, revenue
and credit of the City of Hamilton, Ohio,
are hereby pledged for the prompt pay
ment of both principal and interest of
the bonds hereinbefore described, in ac-
cordance with the laws and Constitution
of the State of Ohio
SECTION W. For the purposes of pro-
vld1ng the necessary funds to pay the
interest on the foregoing issue of bonds
promptly when and as the same fall due,
and also to provide fund sufficient to
discharge said bonds at maturity there
shall be and is hereby levied on all the
taxable property in the City of Hamilton
In addition to all other taxes direct
tax annually during the period of time
SAID bonds are to run in an amount suf-
f1cient to provide funds to pay the in
terest upon said bonds as and when the
same falls due, and also to provide fund
Tor the discharge of the principal Of said
shall not be less than the interest and
Sinking Fund tax required in Section II
Article IL, of the Constitution of the
State of Ohio.
Said tax shall be and is hereby ordered
computed, certified, levied and extended
upon the tax duplicate and collected hy
the same officials in the same manner
and at the same time that taxes for gen
eral purposes of each of said wears are
certified, extended and collected. Said tay
snail be placed before and In preference
TO all other items and for the full amount
thereof. The funds derived from said
tax 1ev1es hereby required shall be placed
IN separate and distinct fund which
together with the interest collected on
the same, shall be irrevocably pledpad
Tor the payment of principal and infar-
est on said bonds when and as the same
fall due, 7'i'o
SECTION VII These bonds shall ha
subject to call or redemption prior 10 ma
turity at not more than par and accrued
interest,
SECTION VIII: This ordinance shall
take effect and be In full force and af-
feet from and after the earliest neriod
allowed by the charter of the CITY of
Hamilton, Ohio. "
Passed November 49, I941.
LEO J. WELSH, Mayor
Attest ADELE EDMONDS.
~ City Clerk