1253:Lrereas, the City of Little --'ocj :, as a result
of the apparent loss of anticiiDated revenue, is in need of funds
*^ith 'f?hi c! to carry C?2 its Onnr2.tiCn7 to the enr of it-
year, December 31st, 1931, and;
- Iere�!s, it is indeavoring to float a loan of
a Dproximately Sixty Five Thousand (`''-.65,000) Dollars From certain
financial circles within the City, and;
'"hereas, the City is the owner of certain anti-
c?u^.ted and dilapidated machinery in its municipal po -er plant at
Little Rock, which has been broken down and discarded because of
the elccessive amount required for repairs, and;
7hereas, Purke Smith has made an offer of ^eh
Thousand Five Hundred (,10,500.00) Dollars for said machinery
which is not in use, and;
"':hereas, said machinery several years «<,o was
charged off as having no value, and;
.,hereas, said machinery is not mentioned in the
last several audits of the City as being any part of its capital,
and;
<.TY►ereas, the City* has made a contract r;ith the
Arkansas Power and Light Company for the purchase of current for
a period of five years, and;
Mereas, the City has had the foregoing offer
before it for several Months, and the Council has received no
other offer, and;
17hereas, the majorit,r of the finance Coro -ittee
has recommended said offer be accepted, and the City Council on
. . . . . 31st, by a vote of ten (10) to four (4) adopted the
recormnendation of the Tinance Committee.
� 10,".T0FE, be it resolved by the City Council of
the City of Little Pock that the offer of Burke Smith of Ten-
Thousand Five Hundred (;:10,500.00) Dollars be accepted, anc upon
FlaEe 2.
the payment of this amount in cash to the City Collector, -,It
t1lb
the City Collector deliver to said Burke 3nith such property-as
called for in his writ-ten bid, no in file in the office of the
CitV Clerk of the City of little Rocke
'A
Adopted: SEP 9 - 1931
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