The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1944-05-12

are issued and that they are issued in
pursuance of this ordinance, and shall
be signed by the City Manager and the
Director of Finance and sealed with the
corporate seal of said city.
SECTION ": The proceeds from the
sale of said bonds, except the sum in
cluded in the amount of the issue to
the extent necessary to provide a fund
for the payment of interest accruing on
said bonds previous to the receipt of
taxes from which such interest is to be
ultimately paid, and the premium and
accrued interest thereon shall be cred
tied to a fund for the purpose of paying
the City's share of the cost and expense
of constructing storm sewers, manholeS
and inlet basins on Park Avenue, from
the south side of Highland Avenue to
the north line of Sanders Highland Park
Subdivision (the Circles), in the First
Ward of the City Of Hamilton, Ohio, and
Tor no other purpose, and shall be dis
bursed upon proper vouchers for the
purpose specified herein, for which pur-
pose said money is hereby appropriated
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
said bonds hereinbefore described in
accordance with the laws and constitu-
tion of the State of Ohio.
SECTION VI: For the purpose of pro-
viding the necessary fund to pay the
interest on the foregoing issue of bonds
promptly when and as the same falls
due, and also to provide fund suffi-
cient to discharge the said serial bonds
at maturity, there shall be and is hereby
levied on all of the taxable property of
the City of Hamilton, Ohio, in addition
to all other taxes a direct tax annually
during the period of the time such bonds
are to run III an amount sufficient to
provide funds to pay the interest upon
said bonds as and when the same falls
due, and also to provide fund for the
discharge Of the principal of said serial
bonds at maturity, which taxes shall not
be less than the interest and sinking
fund tax required by Section IL, Article
/ Of the Constitution of the State of
Ohio
Said tax shall be and is hereby or
dered computed and certified levied and
extended upon the tax duplicate, col
lected by the same officials in the same
manner and at the same time as 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. The
funds derived from said tax levy hereby
required shall be placed in a separate
and distinct fund which together with
the interest collected on the same shall
be irrevocably pledged for the payment
Of principal and interest on said bonds
when and as the same fall due.
SECTION VII: These bonds shall be
subject to call or redemption prior to
maturity at not more than par and ac
crued interest
SECTION VIII: The City Clerk is
hereby directed to forward a certified
copy Of this ordinance TO the County
SECTION IX: This ordinance shall
take effect and be in full force and effect
from and after the earliest period al
lowed by the charter of the City of
Hamilton, Ohio.
LEO j. WELSH, Mayor
Attest ADELE EDMONDS
City Clerk
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