The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1942-01-30
ORDINANCE NO. 424a
Jan. 3O-1t

To borrow money by issuing note or
notes 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 i'm
proving Pleasant Avenue Alley, from
Belle Avenue to williams Avenue, in
the Sixth Ward of the City of Hamil-
ton, Ohio by grading and paving the
roadway thereof with permanent ma
teria1 such as concrete, brick, asphalt,
asphaltic concrete, Warrenite btu
lithic, or any other type of material
that may be determined
BE 1T ORDAINED by the Council of
the City of Hamilton, Ohio:
SECTION l 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 Pleasant Avenue Alley,
from Belle Avenue to Williams Avenue,
in the Sixth 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
be determined, as provided IN Section
2293-24 of the General Code of Ohio in
the sum of $109195 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 of date of the issu-
ance, 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 purpose for
which they were issued, that they We're
issued in pursuance of this ordinance and
in accordance with Section 2293-24 of the
| General Code of Ohio, and shall be signed
INrt tIa Mon crear n nd he of
Finance of Hamilton 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
| payment of such notes It maturity, there
| shall be and is hereby levied upon all of
| the taxable property of the City OF Ham
| ilton, Ohio, in addition 70 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 il of Article II OF
/ the Constitution. Provided, however, that
/ in each year that the assessments an
/ ticipated by said notes are payable and
/ are applicable to the payment of such
interest and principal and are appropri-
ated for such purpose the amount of
such tax shall be reduced by the amount
of the assessment so appropriated, 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
4 are levied and collected. Said tax shall
be placed before and in preference to al
other items and for the full amount
thereof and all funds derived from saif
levies hereby required shall be placed II
| a separate and distinct fund, which to