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

tions incidental to the prosecution of
and developing the sewage system of
the City of Hamilton Ohio and the cost
of condemning or purchasing the lands,
therefor, and paying damages incidental
| thereto, and to furnish and equip the
sewage disposal and treatment works
the levy of taxes outside the ten mill
limitation to pay the interest and prin-
cipal of such bonds, at least $50 Of
na e voted
poses. to proceed with the issuance of
the first series of said bonds in the
principal amount of s106,OO0.00, for the
purpose of constructing a trunk line
sanitary sewer as part of said sanitary
sewer and sewage disposal plant plan,
and
WHEREAS, this Council has requested
the Director of Finance to issue his GER
tlf1cate as to the estimated life of the
| Improvement to be constructed from the
proceeds of the bonds hereinafter re-
ferred to, and said Director of Finance
| has certified to said Council such esti-
mated lie as exceeding five years and
mas further certified the maximum ma
| tur1ty of such bonds as twenty-five
years,
NOW, THEREFORE,, BE TT oRDAIN
Ed by the Council of the City of Hamil-
| SECTION l. That it is necessary to
| issue and sell bonds of the City of Ham
diton, Ohio, in the principal amount of
$1O6,00O.00 for the purpose of paying
| the cost and expense of constructing
sanitary trunk line sewer from
street oyer Gordon Avenue to Summer
to Webster Avenue, Webster Avenue
Summer Street to Summer Street Alley.
summer Street Alley, Webster Avenue
to B. & O. Railroad, then north and west
over the lands of the B. & O. Railroad,
the Schwartz estate and others along
the B. & Q: Belt Line, and Two Mile
Greeh fI;eti TO Main Street, with lateral over
Hlghland Avenue to Lawn Avenue in
the First Ward of the City of Hamil-
ton, Ohio, said sewer to be known as
Two Mile Creek Sanitary Trunk Line
sewer. That such bonds be issued in
series OF which the present issue is
the series of Sanitary Sewer and Dis
posal Plant Bonds. Said bonds shall be
subject to call for redemption on Sep
tember l, 1857, or on any interest pay
ment date thereafter, at par and accrued
SECTION II. That serial bonds Of the
City Of Hamilton, Ohio, shall be issued
| In said principal amount of $1O6OOO 90
Tor the purpose aforesaid Said bonds
shall be dated March l, 1916. and shall
| be of the denomination of 81, 900 90 each:
they shall be numbered as follows, Series
Al to A106, both inclusive, and shall
| pear interest at the rate of not to ex-
| ceed four (49o) per cent per annum, pay
| able semf-annually on the first day of
March and the first day of September
od each year commensing September l.
1
| provided, however that if said bonds
are sold bearing a different rate of in
terest than hereinbefore specified said
| as may be provided for in the resolution
! or Council approving the award thereof
SAID bonds shall mature in their con-
secutive serial order as follows: 100000
on the first day of September of each
OF the years 1947 to 1885, inclusive and
S500o.0O on the first day of September
of, of each ;,d of the years 1865 to 1871, in
ciuSlve, which maturitieS are hereby de-
| term1ned to be in substantially euual
| annual installments
Sald bonds shall be issued, executed
and disposed of in accordance with the
general laws of the State of Ohio. par
tlcularily the Uniform Bond Act Of the
| General Code of Ohio.
The principal and interest of all of
| said bonds shall be PAYABLE at tha Of
flee of the City Treasurer of the civ
| of Hamilton, Ohio
| SECTION III That said bonds shall
| express upon their face the purpose for
when they are issued; that they are is
sued in pursuance of this ordinance. and
| Snail be signed by the City Manager and
| Director of Finance and sealed with the
corporate seal of the city. The interest
coupons attached to said bonds shall
bear the facsimile signature of said
| Director of Finance
SECTION Nv. That for the purpose of
proVidlng the necessary funds to pay
bonds promptly when and as the same
rails due, and also to provide a fund
| sufficient to discharge said serial bonds
at al, maturity, naa, there shall be and is here
by levied on all the taxable property in
the City, of Hamilton, Ohio in addition
| 20 al other taxes, direct tax annually
during the period said bonds are to run,
| OUTSIDE OF the limitations of Section 2 of
Article XII of the Constitution of Ohio.
which tax shall be sufficient in amount
| TO provide funds to pay the interest on
Sald ponds as and when the same falls
DUE and also to provide for the discharges
OF the principal of said bonds at matur
ny and not less than the interest and
81 etiihins ~; iund tax required by Section IL
Ohio VI
Said tax shall be and is hereby ORDER
ed computed, certified, levied and ex-
1ended upon the tax duplicate and col
manner and at the same time that taxes
Tor general purposes for each of said
years are certified, extended and collect
| in preference to all other items and for
| the full amount thereof. The funds de-
rived from said tax levies hereby re-
distinct fund, which, together with All
interest collected, on the same. shall
be irrevocably pledged for the payment
pl the interest and the principal of said
SECTION v. That said bonds shall ha
first Offered at par and accrued interest
| to the Sinking Fund Commission in It's
u dicidl capacity and II said commission
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 under the
direction OF the Director of Finance, but
not for less than their par value and
accrued interest; the bond sale adyer-
tlsement shall state that any one desir-
ing to do so, may present a bid or hids
for ,,,ss1 such bonds based upon their bearing
before fixed, provided, however. that
where fractional interest rate is bid
such fraction shall be one-quarter of one
per cent or multiple thereof: the
amount OF the bond or certified check to
accompany bids shall be 100000: the
proceeds from the sale Of said bonds. ex-
cept the premium and accrued interest
thereon, shall be credited to the Sanitarv
Sewer and Disposal Plant Fund, and used
Tor no other purpose, and shall be dis
Dursed upon proper vouchers for the
purpose specified herein, for which pur-
pose said money is hereby appropriated.
the premium and accrued interest receiv
ed from such sale shall be transferred
to the Sinking Fund to be applied to the
payment of the principal and interest of
law. Aeu ~