The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1944-10-27
ORDINANCE No. 44a5

Collection Of Special Assessments for
the Improvement Of Twelfth Street,
Street, East on Mclean Street to
Twelfth Street, and South on Twelfth
Street to Lincoln Avenue, in the Fifth
Ward Of the City OF Hamilton, Ohio, by
Constructing Sanitary Sewers, Manholes
and House Connections from Main Line
to the Curb, where necessary.
WHEREAS, this Council has request
ed the Director of Finance to issue his
certificate as to the estimated life of
the Improvement constructed from the
proceeds of the bonds hereinafter refer
red to, and the Director of Finance has
certified to this Council such estimated
life as ten years and has further certi-
fled the maximum maturity of such
bonds as five years; and
WHEREAS, this Council estimates
that tax for said bonds will first ap-
pear upon the duplicate for the tax year
the County Auditor next following the
inclusion of a tax for this issue in the
annual budget by the County Auditor as
provided by law will be obtained not
earlier than the 1st day of September,
BE IT ORDAINED by the Council of
the City of Hamilton, Ohio:
SECTION I: That for the purpose
of raising money in anticipation of the
collection of special assessments for
the Improvement of Twelfth Street
Lean Street, east on Mclean Street to
Twelfth Street, and south on Twelfth
Street to Lincoln Avenue, in the Fifth
Ward of the City of Hamilton, Ohio, by
and house connections from main line
to the curb, where necessary, in accord
ance with Resolution Number 1886, to
be paid for in whole by special assess
ments bonds of said city shall be is
sued in the amount of $1,416.00. Said
bonds shall be in such denomination as
determined by, the Director of Finance,
shall be dated November l, 1914, and
shall be due and payable S156.00 on Nov
ember /, 1916 and $4,000 on November
st in the years 1947 to 1856, both in
elusive which maturitieS are hereby de-
termined to be in substantially equal an
nual installments, and shall draw inter-
est at the rate of three per cent per an
mum, payable May 1st and November 1st
of each year, upon presentation and sur
render of interest coupons to be attach
ed to said bonds bearing the facsimile
signature of the Director of Finance.
SECTION II: Said bonds shall be
by the City Manager and the Director of
Finance, sealed with the city seal, and
recorded in the office of the Sinking
Fund Trustee; shall express upon their
sued and the fact that they are issued
pursuant to law and this ordinances;
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 direc-
tion of the Director of Finance and shall
Director of Finance, or the proper Off
GERS of the city, may determine.
SECTION III: That upon the sale of
said bonds any premium and the &C
crued interest realized therefrom shall
be paid to the Sinking Fund Trustees.
The par value realized from the sale of
said bonds shall be placed in the city
treasury to the credit of the Twelfth
Street and Mclean Street Sanitary Sew
! er Improvement Fund and shall be dis
bursed from said fund on proper vouch-
ers in payment of the expense of the inn
provement aforesaid and to the payment
| of the notes heretofore issued for said
purpose and the interest thereon, for
which purpose said money is hereby ap-
| SECTION w: That all installments
! of said assessments and all portions
j 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-
: cordance with the laws and Constitu-
| SECTION VI: That for the purpose
of providing the necessary fund to pay
| the interest on the foregoing issue of
! bonds promptly when and as the same
falls due, and also to create and main
| tain sinking fund sufficient to dis
charge the said bonds at maturity, there
shall be and is hereby levied on all the
taxable property of the City of Hamil-
ton, Ohio, in addition to all other taxes,
a direct tax annually during the period
for which said bonds are to run, in an
amount sufficient to provide fund
for the discharge of the principal of
said serial bonds at maturity, which
tax shall not be less than the interest
| and Sinking Fund tax required by Sec
tion IL of Article XII of the Constitu-
tion. Provided however, that in each
year that the assessments anticipated
by said bonds are payable and are ap-
plicable to the payment 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 appropriated.
| That said tax shall be and is hereby
ordered computed, certified, levied and
extended upon the tax duplicate and
| 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 before
| and in preference to all other items and
! for the full amount thereof. All funds
derived from said levies hereby requir-
ed shall be placed in separate and dis
terest collected on the same shall be ir-
revocably pledged for the payment of
the interest and principal of said bonds
when and as the same fall due.
SECTION VII: This ordinance shall
take effect and be in full force and ef-
feet from and after the earliest period
allowed by the charter of the City of
Hamilton, Ohio.
Passed: October IS, 1914.
LEO ]. WELSH, Mayor.
civ Clerk