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

| the improvement to be constructed from
| the proceeds of the bonds hereinafter
| referred to, and said Director of Finance
| has certified to said Council such eSti-
mated life as exceeding five years and
has further certified the miximum ma
turity of such bonds as twenty-five
| years,
NOW. THEREFORE,, BE 1T oRDAIN-
ED by the Council Of the City Of Hamil-
ton, Ohio:
| SECTION l. That it is necessary to
issue and sell bonds of the City of Ham
ilton, Ohio, in the principal amount of
| $2025, 10000 for the purpose Of paying
| the cost and expense of constructing
| sanitary relief, trunk, main and inter-
cepting sewers, pumping stations, sew
| age disposal and treatment works and
all structures incidental thereto, and
the expense of tests, preparation Of plans
and Specifications incidental to the pros
| improving and developing the sewage
system of the City Of Hamilton, Ohio,
and the cost of condemning or purchas-
| ing the lands easements or rights of
| way necessary therefor, and paying dam
ages incidental thereto, and to furnish
and equip the sewage disposal and treat
ment works and structures incidental
| thereto. That such bonds be issued in
| series of which the present issue is the
| b series of Sanitary Sewer and Disposal
! Plant Bonds Said bonds shall be sub
| ject to call for redemption September
| /, 1857, or on any interest payment date
| thereafter, at par and accrued interest.
| SECTION II: That serial bonds of the
City of Hamilton, Ohio, shall be issued in
said principal amount of $2025,70O.00 for
the purpose aforesaid. All said bonds
| shall be dated August l, 1916, and shall
| be of the denomination of 100000 each,
except the first bond which shall be of
| be numbered as follows: Series B1 to
B2026, both inclusive and shall bear
| interest at the rate of not to exceed
| four (4%o) per cent per annum, payable
| mn l1xr ret dn IF "a n
and the first day of September of each
year, commencing March l. 1947, until
the principal sum is paid, provided, how
| ever that if said bonds are sold bearing
different rate of interest than herein
| before specified, said bonds shall bear
such rate of interest as may be pro-
vided for in the resolution of Council
approving the award thereof Said bonds
| shall mature in their consecutive serial
order as follows: $S1,700.00 on the first
day of September of the year 1947,
| $S1 100000 on the first day of September
| of each of the years 1948 to 1871, 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
| Hamilton, ONO.
| SECTION III: That said bonds shall
express upon their face the purpose for
which they issued; that they are
| 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 facsimile signature of said
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 a fund
sufficient to discharge said serial bonds
at maturity, there shall be and is here
| by levied on all the taxable property in
| the City of Hamilton, Ohio, in addition
/ to all other taxes, direct tax annually
during the period said bonds are to run,
outside of the limitations of Section of
Article XII of the Constitution of Ohio,
which tax shall be sufficient in amount
| to provide funds to pay the interest on
said bonds as and when the same falls
! due, and also to provide for the dis
charge of the principal of said bonds at
maturity and not less than the interest
and sinking fund tax required by Sec
tion II of Article XII of the Constitu-
| ton 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
|
| 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 de-
| rived from said tax levies hereby re-
quired shall be placed in a separate and
| distinct 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 as the same falls due.
| SECTION v: That said bonds shall
| rn1 tn
| terest 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 bid or
| bids for such bonds based upon their
| 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
| of one per cent or a multiple thereof;
| the amount of the bond or certified check
| to accompany bids shall be $20,257.00;
| the proceeds from the sale of said bonds,
except the premium and accrued inter-
est thereon, shall be credited to the
| Sanitary Sewer and Disposal Plant Fund.
! and used for no other purpose. and shall
| be disbursed upon proper vouchers for
| the purpose specified herein, for which
purpose said money is hereby appro-
| priated; the premium and accrued in
| terest 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 man
ner provided by law.
SECTION VI: The City Clerk is here
| by directed to forward a certlIled 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. June 5, 1946.
| WILLIAM BECKETT, Mayor.
Attest: ADELE EDMONDS, City Clerk.
ORDINANCE MO. 1881
An 0rdinancA nrovidinp for the issuance