The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1946-02-15


payable semi-annually on the first day
of March and the first day of Septem-
ber of each year, commencing September
l. 1916, until the principal sum is paid,
provided, however, that if said bonds
are sold bearing different rate of in
terest than hereinbefore specified, said
as may be provided for in the resolution
of Council approving the award thereof
Said bonds shall mature in their con-
secutive serial order as follows. 100000
of the years 1947 to 1854, inclusive, and
$5, 100000 on the first day of September
of each of the years 1855 to 1856, both
inclusive which maturities are hereby
determined to be in 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 all of
said bonds shall be payable at the office
of the City Treasurer of the city of
SECTION III That said bonds shall
express upon their face the purpose for
issued in pursuance of this ordinance,
and shall be signed by the City Manager
and Director of Finance and sealed with
the corporate seal of the city; The inter,
est coupons attached to said bonds shall
bear the fac-simile signature OF said
Director of Finance.
SECTION ~. That for the purpose of
providing the necessary funds to pay
the interest on the foregoing issue of
bonds promptly when and as the same
falls due, and also to provide fund
sufficient to discharge said serial bonds
at maturity, there shall be and is hereby
levied on all the taxable property in the
City of Hamilton, Ohio, in addition to
all other taxes, direct tax annually
run outside of the limitations of Sec
tion 2 of Article XII of the Constltu-
tion of Ohio, which tax shall be suffi-
cient in amount to provide funds to
when the same falls due, and also to
provide for the discharge of the prin-
cipal of said bonds at maturity and not
less than the interest and sinking fund
tax required by Section IL of Article
XII of the Constitution of Ohio.
Said tax shall be and is hereby ordered
| computed, certified levied and extend
ed upon the tax duplicate and collected
by the same officers, in the same manner
and at the same time that 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 levies hereby required
tinct fund, which, together with all in
terest collected on the same, shall be
irrevocably pledged for the payment of
the interest and the principal of said
SECTION V. That said bonds shall be
| first offered at par and accrued inter
| est to the Sinking Fund Commission in
| it's official capacity, and if said COM
mission refuses to take any or all of
| said bonds, then said bonds not so taken
| shall be advertised for public sale and
sold in the manner provided by law un-
der the direction of the Director of
Finance, but not for less than their par
value and accrued interest; the bond sale
advertisement shall state that any one
desiring to do so, may present a bid or
bids for such bonds based upon tlfeir
bearing a different rate of interest than
hereinbefore fixed, provided, however,
that where a fractional interest rate is
bid, such fraction shall be one-quarter
the amount of the bond or certified
check to accompany bids shall be
$4,000; the proceeds from the sale of
| said bonds, except the premium and
| accrued interest thereon, shall be credit
ed to the Playground and Recreation
no other purpose, and shall be diSburSed
upon proper vouchers for the purpose
specified herein. for which purpose said
money is hereby appropriated; the prem
ium and accrued interest received from
such sale shall be transferred to the
Sinking Fund to be applied to the pay
ment of the principal and interest of
said bonds in the manner provided by
law.
SECTION VI The City Clerk is here
by directed to forward certified copy
of this ordinance to the County Auditor
SECTION VII. That this ordinance
shall take effect and be in force from
and after the earliest period allowed by
law.
Passed. February 6, 1916
ELEANORE w. FRECHTLING,
Acting Mayor.
Attest: ADELE EDMONDS, City Clerk.