The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1943-04-30


WHEREAS. there exists an emerg
ency within the meaning of the charter
of the City of Hamilton, Ohio, requiring
Immediate provision for the daily opera
tion Of all municipal departments' the tne
necessity thereof lies in the fact that
there is no money in the various funds
to pay the salaries of the employees or
officers and other expenses; and
WHEREAS, there is estimated to be
received from the next ensuing semi
annual settlement of taxes for such
fiscal year as estimated by the Budget
Commission, other than taxes to be re-
ceived for the payment OF debt charges
and all advances, in the above mentioned
funds of the City of Hamilton, Ohio,
the sum of $117, 10000; and
WHEREAS. at the present time the
above mentioned funds of the City of
Hamilton, Ohio, are exhausted; and
money Il in said said funds of the City for the
payment of salaries and other expenses
in said funds; and
WHEREAS, it IS necessary that sald
money be available for the payment OF
salaries and other expenses before the
distribution of said taxes
THEREFORE, BE 1T ORDAINED by
the Council of the city OF Hamilton
SECTION 1: That it is deemed neces-
sary that the City Of Hamilton, Ohio,
borrow the sum Of S5S,750.00 and issue
notes therefor in anticipation of the col
lection of current revenues in and for
the fiscal year 1943, for said general
and in anticipation Of the collection of
said sum for said general fund purposes
in said City, and which sum does not eX-
ceed one-half of the amount estimated
to be received from the next ensuing
semi-annual settlement of taxes for
such fiscal year as estimated by the
Budget Commission, other than taxes to
be received for the payment or debt
charges and all advances.
SECTION II: That notes OF said city
be issued in the sum OF Sos 90 IN
Hoo tt.,Y1 ~
revenues for said general fund of said
City of Hamilton, Ohio, in the year l943.
Said notes shall be signed by the City
Manager and the Director OF Finance OF
said city, and sealed with the corporate
seal Of said city. They shall express
upon their face that they are issued in
anticipation of the collection OF current
revenues in the fiscal year l943 for the
general fund of said City of Hamilton,
Ohio, and in anticipation Of the collec-
tion Of said sum for general fund pur-
poses in said city and that they are is
sued in pursuance. of this ordinance and
i'm accordance with Section 1884 of the
General Code of Ohio. Said notes snail
be issued in such denominations as may
be determined by the Director of FL
nance and the City Manager, and shall
be numbered consecutively from one to
notes shall be dated the date on which
they shall be issued, and they shall be
issued in such amounts and at such time
and shall run for period of not to eX,
bear interest at the rate OF not to exceed
six per cent as determined by the Direc-
tor of Finance and the City Manager.
Said notes shall not be SOLD Tor less
than par and accrued interest. That for
the purpose of paying the prlnclpal ana
interest of said notes, that such sum as
may be necessary out of the collection
of the next semi-annual distribution OF
taxes in the sum of S5S,750.00, with in
terest and out of the proceeds OF sad
taxes so distributed for the general
Of sol Of
and the same is hereby appropriated and
applied to the payment OF the princlpal
and interest of said notes, and the Dl,
rector of Finance is hereby authorized
to apply out of the proceeds OF Sald
next semi-annual distribution OF taxes
from the general fund of SAID city suifl-
cient funds for the payment OF the prln-
cipal and interest of said notes, and the
funds derived from the sale of SAID
notes are to be placed to the credit OF
the general fund of the City of Hamil-
ton Ohio.
SECTION III: 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
the notes hereinabove described and in
accordance with the laws and constltu-
tion of Ohio.
SECTION w: That there shall be and
is hereby levied upon all of the taxable
property in the City of Hamilton, Ohio,
in addition to all other taxes direct
annual tax sufficient to redeem matur-
ity any deficiency in the interest or
principal of the above provided for
notes arising out of the failure for any
reason to provide for the payment Of
said notes and interest thereon, the
amount of said taxes to be computed by
the taxing authorities and certified to
the proper officials, and the same be
levied and collected as other taxes are
levied and collected.
SECTION V: This ordinance is hereby
declared to be an emergency ordinance
and shall take effect and be in full force
and effect from and after it's passage
Passed: April 21, 1943.
LEO j. WELSH, Mayor
Attest: ADELE EDMONDS,
City Clerk
April 30-1t.
80 xoao