9923ORDINANCE NO. 9923
AN ORDINANCE AUTHORIZING THE TRANSFER OF FUNDS REMAINING IN
THE SINKING FUND OF THE PARK IMPROVEMENT BONDS AND THE FUNDS
REMAINING IN THE NEGRO PARK BOND FUND TO A SPECIAL FUND TO
BE DESIGNATED PARK DEVELOPMENT FUND; AND FOR OTHER PURPOSES.
WHEREAS, in 1949 $400,000.00 of Park Improvement Bonds were
issued for the purpose of making various improvements on parks within
or without the City of Little Rock and for the improvement of Gillam
Park; and
WHEREAS, in 1937 Negro Recreation Park Bonds were issued in
the sum of $15,000.00; and
WHEREAS, all Park Improvement Bonds have been paid, together
with the interest thereon, and there still remains a balance of $25,902.4$;
in the Park Bond Fund; and
WHEREAS, all Negro Recreation Park Bonds have been paid, and
there now remains a balance of $73,87 in the Negro Park Bond Fund; and
WHEREAS, the Pulaski Chancery Court found that said Bond money
should be used only for the purpose of permanent improvements to parks
owned by the City of Little Rock; and
WHEREAS, the Pulaski Chancery Court further found that the
said funds should not be transferred to the General Fund but should be
transferred to a special fund, designated as Park Development Fund;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF LITTLE ROCK, ARKANSAS:
SECTION 1. That the Mayor and City Clerk are hereby authorized
and directed to transfer the balance of $25,902.48, now remaining in the
Park Bond Fund, to a special fund which is designated Park Development
Fund, to be used solely for the purpose of making permanent improvements
to parks owned by the City of Little Rock.
SECTION 2. That the Mayor and City Clerk are hereby authorized
and directed to transfer the balance of $73.87 from the Negro Park Bond
to IN
2
Fund now remaining, to the Park Development Fund to be used only for
permanent improvements of parks owned by the City of Little Rock.
SECTION 3. That all ordinances and parts of ordinances in
conflict herewith are hereby repealed, and this ordinance shall be
in full force and effect from and after its passage and approval.
PASSED: September 26, 1955
ATTEST:
City Clerk
APPROVED:
6 (� &----e
Mayor