1557621 ' 11
ORDINANCE NO. 15,576
AN ORDINANCE ASSESSING THE VALUE OF BENEFITS TO BE
RECEIVED BY THE OWNERS OF EACH OF THE SEVERAL BLOCKS,
LOTS AND PARCELS OF LAND WITHIN WATER AND SEWER
IMPROVEMENT DISTRICT NO. 141 OF LITTLE ROCK, ARKANSAS;
AND DECLARING AN EMERGENCY.
WHEREAS, a majority in value of the property holders
owning property adjoining the locality to be affected and
situated in Water and Sewer Improvement District No. 141 of
Little Rock, Arkansas (the "District "), organized for the
purposes of constructing a public water distribution and
sanitary sewer collection system to serve the property in the
District (the "improvements "), as more fully described in the
Petition for the formation of the District, have petitioned the
Board of Directors of the City for the construction of the
improvements and that the cost thereof shall be assessed upon
the real property of the District according to the benefits
received; and
WHEREAS, the District has been established by
Ordinance No. 15,504 of the City of Little Rock, Arkansas (the
"City "), passed and approved June 29, 1988, as confirmed by
Ordinance No. 15,550, passed and approved September 6, 1988; and
WHEREAS, the assessments have been duly made by the
Board of Assessors of the District and filed in the office of
the City Clerk pursuant to law, and notice of such filing was
duly published in a newspaper of general circulation in the City
on the 12th day of October, 1988; and
WHEREAS, the benefits received by each block, lot and
parcel of real property situated in the District equal or exceed
the local assessment thereon; and
WHEREAS, the estimated cost of the improvements to the
District is $717,611.85 and the assessed benefits are in excess
of that amount;
NOW THEREFORE, BE IT ORDAINED by the Board Directors
of the City of Little Rock, Arkansas:
Section 1. That each of the blocks, lots and parcels
of real property in the District be assessed according to the
assessment list of the District as the same now remains in the
office of the City Clerk, and that 3.12% of the assessment of
each of the blocks, lots and parcels shall be collected by the
County Collector of Pulaski County, Arkansas, with the first
installment of general taxes becoming due in the year 1989 and
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annually thereafter with the first installment of general taxes
until the whole of the local assessment shall be paid or until
the bonds of the District have been retired or provision for the
payment has been made, whichever is earlier.
As provided in Arkansas Code of 1987 Annotated
§14 -90 -801, collection of annual installments may be suspended,
in whole or in part, to the extent set forth in a certificate of
the commissioners of the District filed with the County
Collector of Pulaski County, Arkansas on or before December 1 of
the year for which such suspension shall be effective.
Section 2. That all ordinances and resolutions and
parts thereof in conflict herewith are hereby repealed to the
extent of such conflict.
Section 3. That the improvements are essential to the
continued growth and well -being of the City and can be
accomplished only by the assessment effected hereby. Therefore,
an emergency is declared to exist and this Ordinance, being
necessary for the preservation of the public peace, health and
safety, shall be in force upon its passage and approval.
PASSED: November 15 , 1988.
APPROVED:
ATTEST:
Mayor tie Sh kelford
Ci y Cleirko Jane Czech
(SEAL)