The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1946-06-14

Series l to 1o5, both inclusive, and shall
bear interest at the rate of not to ex-
| ceed four (4%) per cent per annum,
payable semi-annually on the first day
Der of each year, commencing March 1,
| 1947, until the principal such is paid,
provided, however, that if said bonds
are sold bearing different rate of in
terest than hereinbefore specified, said
bonds shall bear such rate of interest
| as may be provided for in the resolution
Of Council approving the award thereof.
ut1ve serial order as follows: $500000
on the first day of September of each of
the years 1947 to 1868 inclusive, and
of each of the years 1864 to 1868, 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 Of
flee of the City Treasurer of the City
of Hamilton, Ohio.
SECTION III: That said bonds shall
express upon their face the purpose for
which they are issued; that they are is
sued 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 interest
coupons attached to said bonds shall bear
the facsimile signature of said Director
of Finance.
SECTION w: 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 a fund
sufficient to discharge said serial bonds
at maturity, there shall be and is here
by levied all the taxable property
in the City of Hamilton, Ohio, in addi-
tion to all other taxes, direct tax an
nually during the period said bonds are
to run, outside of the limitation of Sec
tion of Article XII of the Constitu-
tion of Ohio which tax shall be suf-
flclent in amount to provide funds to
pay the interest and said bonds as and
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 II of Article
XII of the Constitution of Ohio.
Said tax shall be and is hereby ordered
computed, certified, levied and extended
upon the tax duplicate and collected by
the same officers, in the same manner
and at the same time that taxes for gen.
eral purposes for each of said years are
certified, extended and collected Said
tax shall be placed before and in pref
erence 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
| interest collected on the same, shall be
| irrevocably pledged for the payment of
the interest and the principal of said
| bonds when and the same fall due.
SECTION " That said bonds shall be
first offered at par and accrued inter-
est to the Sinking Fund Commission in
| its official capacity and if said commits
sion 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 adver-
tisement shall state that any one desir-
ing to do So may present a bid or bids
for such bonds based upon their bearing
different rate of interest than herein
| before fixed provided, however, that
where fractional interest rate is bid,
such fraction shall be one-quarter of one
per cent or multiple thereof; that the
amount of the bond certified check
to accompany bids shall be $1,050.0O
the proceeds from the sale of said bonds
| except the premium and accrued inter-
est thereon, shall be credited to the In
cinerator Plant and Equipment Fund
and used for no other purpose, and shall
be dlSburSed upon proper vouchers for
the purpose specified herein, for which
purpose said money is hereby appro-
priated the premium and accrued inter-
est received from such sale shall be
transferred to the Sinking Fund to be
applied to the payment 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 a certified copy
of this Ordinance to the County Auditor.
SECTION VII: That this Ordinance
shall take effect and be in full force
from and after the earliest period al
lowed by law.
Passed: June 5, 1916.
WILLIAM BECKETT Mayor
Attest: ADELE EDMONDS City Clerk