The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1945-10-12
LEGAL
ADVERTISEMENTS
ORDINANCE NO. 45ol

An Ordinance providing for the issuance
Of Bonds Of the City of Hamilton
Ohio, for the purpose of paying the
cost and expense of constructing a
Sanitary Trunk Line Sewer from b
Street over Gordon Avenue to sum-
mer Street, Summer Street, Gordon
Avenue to Webster Avenue, Webster
Avenue, Summer Street to Summer
Street Alley, Summer Street Alley.
Webster Avenue to B. g o. Railroad,
then North and West over the lands of
Estate and others along the B. O.
Belt Line, and Two Mile Greek to Main
Street, with a lateral over Highland
Avenue to Lawn Avenue, in the First
Ward of the City of Hamilton, Ohio,
to be known as Two Mile Greek Sani-
tary Trunk Line Sewer.
WHEREAS the Council has requested
the Director of Finance to issue his GER
tificate as to the estimated life of the
improvement proposed to be acquired or
constructed from the proceeds of the
bonds hereinafter referred to; and
WHEREAS, the Director OF Finance |
has certified to this Council the esti-
mated life of said Improvement to be at
least five years and has further certi-
fled the maximum maturity of the bonds
hereinafter provided for as twenty-five
years and
WHEREAS, the Council estimates that
a tax for said bonds will first appear
on the duplicate for the tax year 1916
and that the final tax settlement of the
County Treasurer next following the in
clusion of a tax for this issue in the an
nual budget of the County Auditor, as
provided by law, will be obtained not
earlier than the 1st day of September,
1947.
NOW THEREFORE, BE IT ORDAIN-
ED by the Council of the City of Hamil-
ton, Ohio.
SECTION I: That it is deemed neces-
sary by the Council of the City of Ham
ilton, Ohio, TO issue and sell bonds OF
said city in the sum of Sl03600.O in
order to provide a fund for the purpose
of paying the cost and expense of con-
structing a sanitary trunk line sewer
from b Street over Gordon Avenue to
Summer Street, Summer Street, Gordon
Avenue TO Webster Avenue, Webster
Avenue, Summer Street to Summer
Street Alley, Summer Street Alley, Web
ster Avenue to B. & .. Railroad, then
north and west over the lands of the
B. O. Railroad, the Schwartz estate
and others along the b. q Q. Belt Line
and Two Mile Creek to Main Street, with
a lateral over Highland Avenue TO Lawn
Avenue, in the First Ward of the City
of Hamilton, Ohio, said sewer to be
known as Two Mile Greek Sanitary Trunk
Line Sewer, and to provide fund for
the payment of not to exceed one years
interest on said bonds
SECTION Il: 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
said bonds.
SECTION III: That serial bonds of
the City of Hamilton Ohio, shall be is
sued in the sum of S105 600 90. Each of
said bonds shall be dated December /,
1915, and shall bear interest at the rate
of two per cent per annum, payable
semi-annually on the 1st day of June
and December in each year until the
principal sum is paid, upon presentation
and surrender of interest coupons to be
attached to said bonds bearing the facsi- |
mile signature of the Director of
Finance; that said bonds shall mature
as follows: $4,800.00 on the 1st day of |
December, 1947, and $4,200.00 on the 1st
day of December in each of the years
l94S to 1871, both inclusive which ma /
TURTLES are hereby determined to be in
bstantially 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 I
bonds shall be payable al the office of /
the City Treasury of the City of Hamil- I
ton, 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 is
sued 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
cluQeQ IN the amount the issue 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 premium and ac-
crued interest thereon, shall be credited |
to fund for the purpose of paying the /
cost and expense of constructing Sanl-
tary trunk line sewer from Il Street over
Gordon Avenue to Summer Street, Sum- /
mer Street, Gordon Avenue to Webster
Avenue, Webster Avenue Summer Street I
to Summer Street Alley, Summer Street I
Alley, Webster Avenue to Is. q o. Rail I
road, then north and west over the lands
of the B. & O. Railroad, the Schwartz
estate and others along the b. d O. /
Belt Line, and Two Mile Creek to Main
Street, with a lateral over Highland Ave-
nue. to Lawn Avenue in the First Ward |
of the City of Hamilton Ohio said sew
er to be known as Two Mile Creek Sani- /
tary Trunk Line Sewer, and for no other
purpose, and shall be disbursed upon
proper voucher for the purpose specified |
herein, 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
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- I
viding the necessary fund to pay the I
interest 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 !
during the period of the time such bonds
are to run, in amount sufficient to
provide funds to pay the interest upon
said bonds as and when the same falls
due, and also to provide a 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 H. Article
IL of the Constitution of the State of
Ohio.
Said tax shall be and is hereby order
ed computed and certified, levied and
extended upon the tax duplicate, collect
ed 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 before
and in preference to all other items and
for the full amount thereof. The funds
derived from said tax levy hereby requir-
ed shall be placed in separate and dis
tinct fund which together with the in
terest collected on the same shall be