The Butler County press. [volume] (Hamilton, Ohio) 1900-1946, 1946-08-23

AAAS VIC ear 1876.
BE 1T ORDAINED by the Council of
the city OF Hamilton, Ohio two-thirds
OF all members elected thereto concur
ring:
SECTION |: That it is deemed neces-
sary to borrow money in anticipatio of
the collection of special assessments to
pay the cost and expense of constructing
sidewalks, curb and gutter on various
streets IN the City of Hamilton, Ohio
said work being done during the year
1916, as provided in Sections No 2293-24
OF the General Code of Ohio, in the sum
Of Eight Thousand Eight Hundred and
Sixty Dollars (SS,S60.00) the estimated
cost of said Improvement
SECTION II: That the City Manager
ana the Director of Finance of the City
of Hamilton, Ohio, shall issue nstes in
the amount of the monthly or semi
monthly estimates of the Engineer on
SAID Improvement, said notes shall bear
interest at a rate not to exceed six co
per cent per annum and shall be dated
on the date the estimate for the pay
ment OF which the note is issued be-
comes due and payable, and said notes
snail be due and payable on or before
two years from the date thereof Said
notes shall express upon their face
the purpose for which they were issued
that they were issued in pursuance of
TINS ordinance and in accordance with
Section 2293-24 of the General Code of
OHIO and shall be signed by the City
Manager and the Director of Finance
of said City of Hamilton, Ohio. and
sealed with the corporate seal of said
City.
SECTION III: That there shall be and
is hereby levied upon all of the taxable
property in the City of Hamilton. Ohio
IN addition to all other taxes, direct
tax annually not less than that which
would have been levied if bonds had
peen issued without the prior issue of
such note. Said taxes shall be and are
hereby ordered computed, certified lew
led and extended upon the tax dupli-
cate and collected by the same officers
ha
time that taxes for general purposes
Tor each of said years are certified ex-
tended and collected. Said taxes shall
De placed before, and in preference to
all other items and for the full amount
thereof. The funds derived from said tax
levies hereby required shall be placed
in separate and distinct fund, which
together with the interest collected on
the same shall be irrevocably pledged for
the payment of the principal and inter-
est of said notes or the bonds in antici-
patton OF which they are issued when
and as the same fall due. Provided, how
ever, that in each year assessments
anticipated by said notes are payable
and are applicable to the payment of
such interest and principal, and are ap-
proprlated for such purposes, the amount
of such tax shall be reduced by the
amount of the assessment so appro-
priated.
SECTION ": That the proceeds aris-
ing from the sale of said notes shall be
placed to the credit of the fund for the
payment OF said Improvement and all
uneXpended balances remaining in said
fund after the cost and expense Of the
Improvement have been paid, and the
proceeds of all bonds sold in anticipa-
ton of the collection of deferred INSTALL
ments of assessments and all cash pay
ments of assessments shall be applied to
the payment of said notes and interest
thereon until both are fully provided
for.
SECTION v: That the Director Of
Finance be and he is hereby authorized
to issue his warrant to the Treasurer in
payment of said semi-monthly or month
ly estimates for the cost of said improve
ment as they become due and payable
SECTION VI This ordinance shall
take effect and be in force and effect
from and after the earliest period allow
ed by law.
Passed: August IA, 1916.
WILLIAM BECKETT, Mayor
Attest: ADELE EDMONDS, City Clerk.