The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1944-08-25
Le$aI Advertisements

1850 both inclusive which maturities
are hereby determined to be in substan-
TALLY equal annual installments, and
shall draw interest at the rate Of three
per cent per annum, payable March 1st
and September 1st of each year, upon
presentation and surrender of interest
coupons to be attached to said bonds
bearing the fac-simile signature of the
Director of Finance.
SECTION II: Said bonds shall be pre-
pared by the Director of Law, signed by
the City Manager and the Director of
Finance, sealed with the city seal, and
recorded in the office of the Sinking
Fund Trustees; shall express upon their
face the purpose for which they are is
sued and the fact that they are issued
pursuant to law and this ordinance;
shall be payable, both principal and in
terest, at the office of the Director OF
Finance of the City of Hamilton Ohio;
shall be issued and sold under the di-
rectlon of the Director of Finance, and
shall bear such consecutive numbers as
officers of the city, may determine.
SECTION III: That upon the sale of
said bonds any premium and the accrued
interest realized therefrom shall be paid
value realized from the sale of said
bonds shall be placed in the city treas
ury to the credit of the Sidewalk I'M
proVement Fund and shall be diSbursed
from said fund on proper vouchers in
payment of the expense of the improve
ment aforesaid and to- the payment of
the HoIeS heretofore issued Tor Sdld QQr-
pose and the interest thereon, for which
purpose said money is hereby appropr-
ated.
SECTION w: That all installments
of said 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.
SECTION V: 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 bonds hereinbefore described in ac-
of the State Of Ohio
SECTION vi: That for the purpose of
providing the necessary fund TO pay the
interest on the foregoing issue of bonds
promptly when and the same falls
due, and also to create and maintain a
sinking fund sufficient to discharge the
said bonds at maturity, there shall be
and is hereby levied on all the taxable
property of the City of Hamilton Ohio
in addition to all other taxes, a direct
tax annually during the period for which
said bonds are to run, in an amount Suf-
ficient to provide a fund for the dis
charge of the principal of said serial
bonds at maturity, which tax shall not
be less than the interest and Sinking
Fund tax required by Section II of AR
ticle MI of the Constitution. Provided
however that in each year that the as
sessments anticipated by said bonds 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.
That said tax shall be and is hereby
! ordered computed, certified, levied and
| extended upon the tax duplicate and col
| lected by the same officers, in the same
manner and at the same time that the
| taxes for general purposes for each OF
said years are certified, extended and
collected. Said tax shall be placed be-
/ fore and in preference to all other items
| and for the full amount thereof Al
| funds derived from said levies hereby
| required shall be placed in separat tt
and distinct fund which, together with
| all interest collected on the same, sha
be irrevocably pledged for the payment
Of the interest and principal of saC
bonds when and as the same fall due
SECTION VII: This ordinance shal
take effect and be in fun force and eff
feet from and after the earliest perio,
allowed by the charter of the City q
Hamilton, Ohio.
Passed: August 16, 1914
LEO j. WELSH Mayor.
Attest: ADELE EDMONDS
City Clerk
City Clerk
1t-Aug. 25