The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1941-10-24
and inlet basins where necessary.

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 an
ticipation of the collection of special as
sessments to pay the cost and expense
of improving Dayton Street Alley. from
Fair Avenue to Mill Road, in the Fourth
Ward of the City of Hamilton Ohio, by
grading and paving the roadway thereof
with permanent material such as con-
crete, brick, asphalt, asphaltic concrete
Warrenite bitulithic, or any other type of
material as may be determined, and con-
Structing storm sewers, manholes and
inlet basins where necessary, as provided
in Section 2293-24 of the General Code
OF Ohio, in the sum of $3,076.59, the esti-
mated 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 were issued, that
they were issued in pursuance of this
ordinance and in accordance with Section
229324 of the General Code Of Ohio, and
shall be signed by the City Manager and
the Director of Finance of Hamilton,
Ohio, and sealed with the corporate seal
of said city
SESCTION III: That the faith, reve-
nue. and credit of the City of Hamilton,
Ohio, are pledged to the prompt payment
of said notes hereinabove described in
accordance with the laws and eonsttu-
ton of the State of Ohio In the event
that assessments are not levied or bonds
are not issued to provide a fund for the
payment Of such notes at maturity, there
shall be and is hereby levied upon all
of a fa hi a mr. Of ha of
Hamilton, 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 Ar
ticle II of the Constitution. Provided,
however, that in each year that the as
sessments anticipated by said notes are
payable and are applicable to the pay
ment of such interest and principal and
are appropriated for such purpose, the
amount of such tax shall be reduced by
the amount of the assessment so appro-
priated. The amount of said tax to be
computed by the taxing authorities and
to be certified to the proper officers, and
the same shall be levied and collected as
other taxes are levied and collected. Said
tax shall be placed before and in pref
erence to all other items and for the full
amount thereof, and all funds derived
from said levies hereby required shall
which together with all interest col
lected on the same shall be irrevocably
pledged for the payment of the interest
and principal of said notes when and as
the same fall due.
SECTION w: 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
balances remaining in said
fund after the cost and expense of the
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 pay
ment of said note or notes and interest
thereon until both are fully provided for.
SECTION v: That the Director of Eli
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 and effect
from and after the earliest period allowed
by the charter of the City of Hamilton,
Ohio.
Passed: October Is, 1941.
LEO J. WELSH, Mayor.
Attest: ADELE EDMONDS,
City Clerk.
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