17474I ORDINANCE NO. 17,474
2 338
3 AN ORDINANCE AMENDING CHAPTER 25 OF THE LITTLE
4 ROCK CITY CODE, 1988, TO CHANGE THE SIGNATURE
5 AUTHORITY ON PORT AUTHORITY WARRANTS; AND FOR
6 OTHER PURPOSES.
7
a^ 8 NOW THEREFORE, BE IT ORDAINED BY THE BOARD OF DIRECTORS OF THE CITY
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9 OF LITTLE ROCK, ARKANSAS:
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0 10
0 11 SECTION 1. Section 25 -6 (a) of the Little Rock City Code, 1988, is amended to read as
12 follows:
U
a 13 (a) All revenue derived from the operation of the port authority, after paying operation expenses
0
" 14 and maintenance, shall be set aside and used for additional improvements, reserves for depreciation, or
15 for the retirement of bonds and interest thereon issued by the Board of Directors of the City of Little
16 Rock in the manner now provided by law. All authority funds shall be deposited in a bank or banks
17 designated by the authority. Funds of the authority shall be paid out only upon warrants signed by any
18 two (2) of the following six (6) officials: the executive director, and the five members of the port
19 authority board. No funds of the authority shall be disbursed except for a purpose authorized by law and
20 only when the account or expenditure for which the same is to be given in payment has been approved
21 by the authority.
22
23 PASSED: May 6, 1997
24
25 ATTEST:
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27�n��.
28 ROBBIE HANCOCK
CITY CLERK
29
30
31 APPROVED AS TO FORM:
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33� i
34 THOMAS M. CARPENT
35 CITY ATTORNEY
W.
APPROVED: