The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1945-03-30

said city in the sum of $24OO0.0O in or
der to provide fund for the purpose of
paying the cost and expense of pur-
chasing real estate for a garbage dis
posal farm, to-wit: refuse dump, for
the City Of Hamilton, Ohio and to pro-
vide q fund for the payment of not to
exceed one years interest on said bonds.
SECTION II: That it is hereby deter
mined to proceed with the issue of said
bonds in one lot and without issuing
notes in anticipation of the issuance of
SECTION III: That serial bonds of
the City of Hamilton, Ohio shall be is
sued su &c j in the sum sum Of $24oeOoo Each Of
and shall bear interest at the rate of
two per cent per annum, payable semi
annually on the 1st day Of May and
cipal sum is paid, upon presentation and
surrender of interest coupons to be at
tached to said bonds bearing the facsi,
Finance; that said bonds shall mature as
follows: $2,4OO.OO on the 1st day of Nov
ember in the years 1946 to 1865, both in
elusive, which maturities are hereby de-
termined to be in substantially equal an
nual inStallments.
Said bonds shall be issued, executed
and disposed of in accordance with the
general laws of the State of Ohio, par
ticularly the Uniform Bond Act of the
General Code of Ohio
The principal and interest of said
the City Treasurer of the City of Ham
ilton, Ohio; said bonds shall bear such
consecutive numbers as the Director of
Finance or the proper officers of the
City shall determine, and shall express
upon their face the purpose for which
they are issued and that they are issued
shall be signed by the City Manager and
the Director of Finance and sealed with
the corporate seal of said city.
SECTION w: The proceeds from the
n nf col ri 6C hn in
cluded in the amount to be issued to the
extent necessary to provide fund for
the payment of interest accruing on said
bonds previous to the receipt of taxes
from which such interest is to be ulti-
mately paid, and the premiums and ac
crued interest thereon, shall be placed in
Garbage Disposal Farm, To-wit, Refuse
Dump Fund, and shall be disbursed upon
proper voucher for the purpose of pay
ing, the cost and expense of purchasing
real estate for garbage disposal farm,
to-wit, refuse dump, for the City of
Hamilton Ohio, and for no other pur-
pose, and for which purpose 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
said bonds hereinbefore described, in ac-
cordance with the laws and constitution
of the State of Ohio.
SECTION VI: For the purpose of pro-
vding the necessary fund to pay the in
terest on the foregoing issue of bonds
promptly when and as the same falls
due, and also to provide fund sufficient
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 dur
ing the period of the time which such
bonds are to run, in an amount sufficient
to provide funds to pay the interest upon
said bonds as and when the same falls
I'll n a n a
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
IL of the Constitution of the State of
Ohio
Said tax shall be and is hereby order
ed computed, certified, levied and extend
ed upon the tax duplicate and collected
by the same officials, in the same man
ner and at the same time as the taxes
for general purposes for each OF ,1 said
ed. Said tax shall be placed before and
in preference to all other items and for
the full amount thereof. The funds de-
rived from said tax levy hereby required
shall be placed in a separate and dis
tinct fund which together with the in
terest 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
Auditor.
SECTION TX: 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. March 81, 1945.
LEO j. WELSH, Mayor.
Attacf. DIET IL EDM0NDS
Cjty Clerk