The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1942-06-12
ORDINANCE NO. 427e

tion of the collection of special assess
ments for the Improvement of Eighth
Street Alley, from Walnut Street to
Hanover Street; Walnut Street Alley
from Fourth Street to Fifth Street
and Fifth Street Alleys A and q, from
Walnut Street to Walnut Street Alley;
and Campbell Avenue Alley, from
Lockwood Avenue to Fair Avenue AL
ley, in the City of Hamilton, Ohio.
WHEREAS, this Council has requested
the Director Of Finance to issue his Ger
tihcate as to the estimated life Of the
property assessed; and
WHEREAS, the Director Of Finance
has certified to this Council the esti-
mated life of said improvements to be
at least five years, and has further GER
titled the maximum maturity of the
bonds hereinafter provided for as ten
years; and
WHEREAS, this Council estimates
that q tax for said bonds viii first APP
pear on the duplicate for the tax year
1912, and that the final tax settlement
with the County Treasurer next follow
ing the inclusion of tax for this issue
in the annual budget OF the County Au-
ditor as provided by law, Will be OBJ
tanned not earlier than the 18th Of Sep
tember 1943
Now THEREFORE, BE IT OR
DAlNED by the Council of the City of
Hamilton, State of Ohio:
SECTION /: That for the purpose Of
raising money in anticipation of the col
lection of special assessments for the
from Walnut Street To Hanover Street;
Walnut Street Alley from Fourth Street
to Fifth Street, and Fifth Street Alleys
and Il, from Walnut Street to Walnut
Street Alley; and Campbell Avenue AL
ley, from Lockwood Avenue to Fair Ave
nue. Alley, in the City of Hamilton, Ohio,
in accordance with Ordinances Nos. 426l,
4262 and 1860 bonds Of said city shall
be issued to the amount of $2,324.41 to
pay notes previously issued and about
to mature. 1t is hereby recited and de-
clared that there has been included in
the amount Of said bonds an amount Suf-
ficient to pay the interest thereon until
said assessments are available Said
bonds shall be designated as Eighth
Street Alley, Walnut Street Alley and
Fifth Street Alleys A and b, and Camp
bell Avenue Alley, property owners por-
ton. shall be in such denomination as
determined by the Director of Finance,
shall be dated July /, 1912, and shall
draw interest at the rate of three per
cent per annum, payable semi-annually
on the 1st day of April and October of
each year until the principal sum is paid,
upon the presentation and surrender of
interest coupons to be attached to said
bonds bearing the fac-simile signature of
the Director of Finance. Said bonds shall
mature as follows: $254.41 on the LIST
day of October 1943, and $4,000 on Oc-
tober 1st in the years 1914 to 1852, both
| inclusive. which maturities are hereby
determined to be in substantially equal
! annual inStallments.
| i
| be prepared by the Director of Law
signed by the City Manager and Director
| of Finance, sealed with the corporate
seal of said city, and recorded in the Of
! flee of the Sinking Fund Commission;
shall express upon their face the pur-
pose for which they are issued and the
/ fact that they are issued pursuant to
law and this ordinance, and shall be pay
able, both principal and interest, at the
| office Of the Treasurer of the City of
Hamilton, Ohio. Said bonds shall be is
| sued, executed and disposed of in accord
ance with the general laws of the State
of Ohio, particularly the Uniform Bond
Act of the General Code of Ohio, and
said bonds shall bear such consecutive
numbers as the Director of Finance and
the proper officers of the City shall de-
! termine.
SECTION III: That upon the sale of
said bonds any premium and accrued IN
terest realized thereon shall be paid to
| the Sinking Fund Commission. The par
value realized from the sale of said
bonds shall be placed in the city treas
ury to the credit of the aforesaid fund
| as follows:
Eighth Street Alley, from wal
nut Street to Hanover Streets 1923
Fourth Street to Fifth Street
| and Fifth Street Alleys A and
b, from Walnut Street to
Walnut Street Alley ...... 1,O37.39
Campbell Avenue Alley, from
| Lockwood Avenue to Fair
"A
and shall be disbursed from said fund
on proper vouchers in payment of the
expense of the improvements aforesaid,
| and to the payment of the notes hereto
/ fore issued for said purpose, and the in
/ terest thereon, for which purposes said
money is hereby appropriated.
SECTION ": That all installments
| of assessments and all portions thereof,
together with interest thereon, shall be
applied to the payment of said bonds and
| interest as the same shall become due,
and to no other purpose whatsoever.
SECTION v: That the faith revenue
and credit of the City of Hamilton are
hereby pledged for the prompt payment
| of both principal and interest of the
bonds hereinabove described, in accord
ance with the laws and constitution OF
the State of Ohio.
SECTION VI: That for the purpose OF
providing the necessary funds to pay the
interest 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 taxable property in the City o
} Hamilton, Ohio, in addition to all othe
taxes direct tax annually during th
period said bonds are to run, in al
; amount sufficient to provide funds to pa.
, the interest upon said bonds as and whel