The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1942-03-27

WHEREAS, this Council has requested
the Director of Finance to issue his GER
tificate 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 tax for said bonds will first ap-
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 a 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, 1913
NOW THEREFORE, BE IT OR
DAINED by the Council of the City of
Hamilton, State of Ohio:
SECTION l. That for the purpose of
raising money in anticipation of the col
lection of special assessments for the
improvement of Elble Avenue, from Will
liamS Avenue south to It's southern ter
minus, and Fox Avenue, from Dixie
Highway west to Skillman Avenue, in
accordance with Ordinances Nos. 4204
and 4233, bonds of said city shall be is
sued to the amount of $2136.55 to pay
notes previously issued and about to
mature. 1t IS hereby recited and declared
that there has been included in the
amount of said bonds an amount suffi-
cient to pay the interest thereon until
said assessments are available. Said
bonds shall be designated as EIble Ave
nue. and Fox Avenue property owners
portion; shall be in such denomina tion
as determined by the Director of FL
nance; shall be dated April l, 1912, and
shall draw interest at the rate of three
per cent per annum, payable semi-annu-
ally 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 facsimile sigma
ture of the Director of Finance. Said
bonds shall mature as follows: $201. So
on the 1St day of October, 1943, and
S215.00 on October 1st in the years 1914
to 1852, both inclusive, which matur-
ties are hereby determined to be in sub
stantially equal annual installments
SECTION II: That said bonds shall be
prepared by the Director of Law, signed
by the City Manager and Director of FL
nance, sealed with the corporate seal of
said city, and recorded in the office of
the Sinking Fund Commission shall eX-
press upon their face the purpose for
which they are issued, and the fact that
they are issued pursuant to law and this
ordinance, and shall be payable, both
principal and interest al the office of
the Treasurer of the City of Hamilton
Ohio. Said bonds shall be issued, ex-
ecuted and disposed of in accordance
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 num-
bers as the Director of Finance and the
proper officers of the City shall deter
mine.
SECTION III: That upon the sale OF
said bonds any premium and accrued in,
terest realized thereon shall be paid tC
the Sinking Fund Commission. The pal
value realized from the sale of said bonds
shall be placed in the city treasury tC
the credit of the aforesaid fund, as fol.
| lows:
Elble Avenue, from Williams
Avenue south to it's southern
terminus ................. 463.71
Fox Avenue, from Dixie High
way to Skillman Avenue. $1,672 81
and shall be disbursed from said funC
| on proper vouchers in payment of the
| expense of the improvements aforesaid
and to the payment of the notes hereto
| fore issued for said purposes, and the
interest thereon for which purposes saiC
money is hereby appropriated.
SECTION ": That all installments OF
assessments and all portions thereof, to-
| gether with interest thereon, shall bt
| applied to the payment of said bonds
! and interest as the same shall becom,
due, and to no other purpose whatsoever
/ SECTION V: That the faith, revenue
and credit of the City of Hamilton ar,
hereby pledged for the prompt paymen
! of both principal and interest of the
! bonds hereinabove described, in accord
ance with the laws and constitution O.
/ the State of Ohio.
SECTION VI: That for the purpose O.
providing the necessary funds to pa,
| the interest on the foregoing issue O.
bonds promptly when and as the sam,