8867t
ORDWANCE N0. 886? _
AN ORDINANCE AUTHORIZINCr-,AND REQUESTING THE BOARD OF
PUBLIC AFFAIRS TO ADVEFXSE, TAKE BIDS FOR AND ENTER
INTO A LEASE- PURCHASE AGRT FOR ONE (1) BULLDOZER
AND ONE (1) LOW -BED HEAVY -DUTY TRAILER TO BE USED IN
THE STREET DEPARTMENT OF THE CITY OF LITTLE ROCK, AND
FOR OTHER PURPOSES.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LITTLE ROCK, ARKANSAS:
SECTION 1. The Board of Public Affairs is hereby
authorized and requested to advertise, take bids for and execute a
lease- purchase agreement for one (1) bulldozer and one (1) low -bed
heavy -duty trailer, to be used in the Street Department of the
City of Little Rock, Arkansas.
SECTION 2. That part of the rental on said purchase-
agreement shall be made in the form of one City RD$ Caterpillar
tractor and one bulldozer, which shall be traded in on the rent
of the equipment which the City may lease- purchase.
.,_ . - -.. SECTION 3. Said lease - purchase agreement is not to 3,
exceed a period of twenty -four (24) months and the monthly rental
shall be paid at the rate of one- twenty- fourth (1/24) of the total
purchase price per month, with a provision that all monthly pay-
ments shall apply on the purchase price if the City of Little Rock
desires to purchase said equipment at any time thereafter.
SECTION 4. All ordinances or 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conflict herewith are hereby repealed, and this ordinance shall.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.
lD March 31, 1952.
ATTEST:
City Clerk