The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1941-08-15

the existing sanitary sewer on Front
Street east distance of approximately
120 feet and storm sewers, manholes
| and inlet basins where necessary on Day
| ton Street Alley, from Fair Avenue to
| Mill Road, and on Weller Avenue Alley,
from Van Hook Avenue to Putnam Ave-
nue., in the City of Hamilton, Ohio.
| SECTION II: That it is hereby deter
mined to proceed with the issue of said
| bonds in one lot and without issuing
| notes in anticipation of the issuance Of
SECTION III: That serial bonds of the
| City of Hamilton, Ohio shall be issued
in the sum of $4,000. Each of said
bonds shall be dated September /, 1941,
and shall bear interest at the rate of two
per cent per annum, payable Semi-annu-
ally on the 1st day of April and October
in each year until the principal sum is
paid, upon presentation and surrender of
interest coupons to be attached to said
bonds bearing the facsimile signature of
the Director of Finance; that said bonds
shall mature follows: $4,000 on the
1st day of October in the years 1943 to
1852, both inclusive, which maturities
are hereby determined to be in substan-
TALLY equal annual inStalmentS.
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
ilIOn, On1O, SAID DOnQS snail Dear Such
consecutive numbers the Director of
Finance or the proper officers of the City
shall determine, and shall express upon
their face the purpose for which they
are issued and that they are issued in
pursuance of this ordinance and shall be
signed by the City Manager and the Di-
rector 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
the payment of interest accruing said
bonds previous to the receipt of taxes
from which such 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
cost and expense of constructing san
itary sewer on Linden Street. from the
existing sanitary sewer on Front Street
east distance of approximately 120
feet, and storm sewers, manholes and
inlet basins where necessary on Dayton
Street Alley, from Fair Avenue to Mill
Road, and on Weller Avenue Alley from
Van Hook Avenue to Putnam Avenue in
the City of Hamilton, Ohio, and for no
other purpose, and shall be disbursed
upon proper vouchers for the purpose
specified herein, for which purpose said
money is hereby appropriated
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
said bonds hereinbefore described in ac-
cordance with the laws and constitution
of the State of Ohio.
SECTION VI: For the purpose of pro-
viding the necessary fund 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 of the taxable property of the City
of Hamilton, Ohio, in addition to all
other taxes direct tax annually during
the period of the time such bonds are
to run, in an amount sufficient to provide
funds to pay the interest upon said
bonds as and when the same falls due,
and also to provide a fund for the dis
charge of the principal of said serial
bonds at maturity, which taxes shall
not be less than the interest and sinking
fund tax required by Section H. Article
II of the Constitution of the State of
Ohio.
Said tax shall be and is hereby ordered
computed and certified, levied and ex-
tended upon the tax duplicate, collected
by the same officials, in the same man
ner and at the same time as the taxes
for general purposes for each of said
years are certified, extended and col
lected 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 levy hereby re-
quired shall be placed in separate and
distinct fund which together with the
interest collected on the same shall be
irrevocably pledged for the payment Of
principal and interest on said bonds
when and as the same fall due
SECTION VII: These bonds shall be
subject to call or redemption prior to
maturity at not more than par and ac-
crued interest.
SECTION VIII: The City Clerk Is
hereby directed to forward certified
copy of this ordinance to the County
Auditor.
SECTION TX: This ordinance shall
take effect and be in full force and eff
feet from and after the earliest period
allowed by the charter of the City OF
Hamilton, Ohio.
Passed: August 6, 1941.
LEO ]. WELSH, Mayor.
Attest: ADELE EDMONDS,
City Clerk.