The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1945-06-15

annually on the 1st day of January ant
| July in each year until the principa
sum is paid, upon presentation and sur
render render Of int interest coupons to be at
mile signature of the Director OF
Finance; that said bonds shall mature
as follows: 100000 on the 1st day OF
January in the years 1947 to 1855, both
inclusive. which maturities are hereby
determined to be i'm substantially equal
annual 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
bonds shall be payable at the office of
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
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 w: The proceeds from the
sale of said bonds, except the sum in
cluded in the amount to be issued 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 premiums and
accrued interest thereon, shall be placed
in the city treasury to the credit of the
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-Wlt, 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 nf tha {NitV of Hamilton Ohio
are hereby pledged for the prompt pay
ment of both principal and interest of
said bonds hereinbefore described, in ac-
cordance with the laws and constitution
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 a fund suffic-
lent to discharge the said serial bonds
at maturity, there shall be and is here
of the City of Hamilton, Ohio, in addi-
tion to all other taxes direct tax an
nually during the period of the time
which such bonds are to run, in an
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 matur-
ity, which taxes shall not be less than
the interest and sinking fund tax re-
quired by Section II, Article 12 of the
Constitution of the State of Ohio.
Said tax shall be and is hereby order
ed computed, certified, levied and ex-
tended upon the tax duplicate and 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
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: June g. 1915.
LEO j. WELSH Mayor.
Attest: ADELE EDMONDS,
CitV Clerk