The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1941-02-14

roadway thereof with permanent ma
terial such as concrete, brick, asphalt,
lithic, or any other type of material as
may be determined,
BE 1T ORDAINED by the Council of
the City Of Hamilton, Ohio
SECTION /: That it is deemed neces-
sary to borrow money in anticipation of
the issuance of bonds to be issued In
anticipation of the collection of special
assessments to pay the cost and expense
of improving Parrish Avenue Alley,
from Edison Avenue to Hensley Avenue
in the Fifth Ward of the City of Ham
ilton, Ohio by grading and paving the
roadway thereof with a permanent ma
terial such as concrete, brick, asphalt,
asphaltic concrete, Warrenite bitulithic,
or any other type of material as may
229S-24 of the General Code of Ohio, in
the sum Of S1,334.40, the estimated
amount of said assessment.
SECTION II: That the City Manager
and the Director of Finance of the City
of Hamilton, Ohio, shall issue note or
notes for the above amount. Said note
or notes shall bear interest at the rate
not to exceed six per cent per annum
and shall be dated as of date of the is
suance, and said note or notes shall be
due and payable on or before two years
from the date thereof. Said note or notes
shall express upon their face the pur-
pose for which they We're issued, that
they We're issued In pursuance of this
ordinance and in accordance with Sec
tion 2293-24 of the General Code of Ohio
and shall be signed by the City Manager
and the Director of Finance of Hamfl-
ton. Ohio and sealed with the corporate
seal of said city
SECTION III: That the faith, revenue
and credit of the City of Hamilton Ohio,
are pledged to the prompt payment of
said notes hereinabove described in ac-
cordance with the laws and constitution
of the State of Ohio. In the event that
assessments are not levied or bonds are
not issued to provide fund for the pay
ment of such notes at maturity, there
shall be and is hereby levied upon all of
the taxable property of the City of Ham
ilton, Ohio, In addition to all other taxes
direct annual tax sufficient to pay the
interest and to create sinking fund to
redeem at maturity the above provided
for notes, 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
anticipated by said notes are payable
and are applicable to the payment or
such interest and principal and are APP
propriated for such purpose, the amount
of such tax shall be reduced by the
amount of the assessment so appropri-
ated. The amount of said tax to be com
puted by the taxing authorities and to be
same shall be levied and collected as
other taxes are levied and collected.
Said tax shall be placed before and in
preference to all other items and for the
rived from said leyies hereby required
shall he placed in a separate and dis
tinct fund, which together with all in
terest collected on the same shall be ir-
revocahly pledged for the payment of
the interest and principal of said notes
when and as the same fall due
SECTION "; That the proceeds aris-
ing from the sale of said notes shall be
placed to the credit of the fund for the
payment of said Improvement and all
unexpended balances remaining in said
fund after the cost and expense of the
Improvement have been paid and the pro-
ceeds of all bonds sold in anticipation
of the collection of deferred installments
Of assessments and all cash payments
of assessments shall be applied to the
payment of said note or notes and in
terest thereon until both are fully pro-
vided for,
SECTION V: That the Director of FL
nance be and he is hereby authorized to
issue his warrant to the Treasurer in
payment for the cost of said improve
ment,
SECTION VI: This ordinance shall
take effect and be In force from and
after the earliest period allowed by the
charter of the City of Hamilton, Ohio.
Passed: February s. 1941
LEO j. WELSH, Mayor.
Attest ADELE EDMONDS,
City Clerk.
Feb 14-1t