The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1946-07-26
ORDINANCE NO. 4elo

ORDINANCE NO. 4e1o
patton of the collection of Special
Assessments for the Improvement Of
ID Carmen Avenue from Highland Ave-
nue. nue. to ,,t the Northern Terminus in the
Ohio, by grading and paving the same
with permanent material such as
sheet asphalt, asphaltic concrete, War
renite bitulithic, concrete, brick, or
any other type OF material as may be
determined, and constructing sani-
tary sewers, storm sewers, manho1es
and inlet basins where necessary.
WHEREAS, this Council has request
ed the Director of Finance to issue his
certificate as to the estimated life of
the Improvement construed from the
proceeds of the bonds hereinafter refer
red to, and the Director of Finance has
certified to this Council such estimated
life as ten years and has further certi-
| fled the maximum maturity of such
bonds as ten years and
WHEREAS, this Council estimates
that tax for said bonds will first ap-
pear upon the duplicate for the tax year
1916, and that final tax settlement with
the County Auditor next following the
inclusion of a tax for this issue in the
annual budget by the County Auditor
as provided by law will be obtained not
earlier than the 1st day of September,
1947
BE 1T ORDAINED by the Council of
the City of Hamilton, Ohio:
SECTION 1: That for the purpose of
| raising money in anticipation of the
collection of special assessments for the
Improvement of Carmen Avenue from
| Highland Avenue to the northern ter
minus in the First Ward of the City of
Hamilton, Ohio, by grading and paving
the same with a permanent material
such as sheet asphalt, asphaltic con-
crete, Warrenite bitulithic, concrete,
brick or any other type of material as
may be determined, and contracting san
itary sewers, storm sewers manholes
nv in7 a
cordance with Resolution No. 1897 to be
| paid for in whole by special assessments,
serial bonds of the City of Hamilton,
/ Ohio, shall be issued in the amount of
| S1S27.50. Each of said bonds shall be
| dated September /, 1916, and shall bear
| interest at the rate of go per annum,
| payable Seml-annually on March ISt and
| September lst of each year, upon presen-
tation and surrender of interest cou-
pons to be attached to said bonds bear
ing the fac-simile signature of the Direc-
tor of Finance. That said bonds shall
mature as follows $207.50 on the 1st
day of September, 194S, and $4,000 on
the lst day of September in the years
l949 to 1857, both inclusive. which ma
| turtles are hereby determined to be in
substantially equal annual installments
SECTION II: Said bonds shall be pre-
pared by the Director of Law, signed by
the City Manager and the Director of
Finance sealed with the city SEAL and
| recorded in the office of the Sinking
Fund Trustees shall express upon their
face the purpose for which they are
issued and the fact that they are issued
pursuant to law and this ordinance;
shall be payable, both principal and in
tereSt at the office of the Director of
| Finance of the City of Hamilton, Ohio;
shall be issued and sold under the di-
rection of the Director of Finance and
& shall , bear such consecutive numbers as
said Director of Finance, or the proper
officers OF the city, may determine.
| SECTION III: That upon the sale of
said bonds any premium and the accured
| interest realized therefrom shall be paid
to the Sinking Fund Trustees. The par
| value realized from the sale of said
| bonds shall be placed in the city treasury
| to the credit of the Carmen Avenue I'M
| provement Fund and shall be disbursed
! from said fund on proper vouchers in
payment of the expense of the improve
ment aforesaid and to the payment of
| the notes heretofore issued for said pur-
| pose and the interest thereon, for which
purpose said money is hereby appro-
| priated
SECTION w That all installments of
said assessments and all portions there
| of, together with interest thereon, shall
be applied to the payment of said bonds
and interest as the same shall become
| due, and to no other purpose.
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
the bonds hereinbefore described in ac-
| cordance with the laws and Constitution
| of the State of Ohio.
| SECTION VI: That for the purpose of
providing the necessary fund to pay the
interest the foregoing issue of bonds
promptly when and as the same falls
| due, and also to create and maintain
sinking fund sufficient to discharge the
said bonds at maturity there shall be
| and is hereby levied on all the taxable
property of the City of Hamilton, Ohio
| in addition to all other taxes, direct
! tax annually during the period for which
| said bonds are to run, in an amount
sufficient to provide fund for the dis
| charge of the principal of said serial
bonds at maturity, which tax shall not
| be less than the interest and Sinking
| Fund tax required by Section IL of
| Article XII of the Constitution. Pro-
vided, however, that in each year that
| the assessments anticipated by said
| bonds are payable and are applicable to
| the payment of such interest and prin-
| cipal and are appropriated for such pur-
| pose, the amount of such tax shall be
| reduced by the amount of the assess
ment so appropriated
| That said tax shall be and is hereby
| ordered computed, certified, levied and
| extended upon the tax duplicate and col
| lected by the same officers, in the same
| manner and at the same time that the
| taxes for general purposes for each of
| said years are certified, extended and
| collected. Said tax shall be placed be-
| fore and in preference to all other items
and for the full amount thereof. All
| funds derived from said. levies hereby
| required shall be placed in separate
| and distinct fund which, together with
all interest collected on the same, shall
| be irrevocably pledged for the payment
| of the interest and principal of said
| bonds when and as the same fall due.
SECTION VII: This Ordinance shall
| take effect and be in full force and ef-
| feet from and after the earliest period
| allowed by the Charter of the City Of
! Hamilton, Ohio.
| Passed: July IL, 1916.
ST WILLIAM BECKETT, Mayor.