6504ORDINANCE NO. 6504.
AN ORDINANCE AUTHORIZING THE CITY CLERK TO CHARGE OFF THE SUk
OF $34,617.49 REPRESENTING THE LOSS INCURRED BY THE CITY IN
THE CLOSING OF THE Ai�!ERI CAN- EXCHANGE TRUST 004PANY OF FUND'S ON
DEPOSIT TO THE CREDIT OF THE AIRPORT, FIRE E�iUIPIVENT AND HOSPIT"
FUND; AND FOR OTHER PURPOSES.
Whereas, on November 17, 1930, there was on deposit
in the American - Exchange Trust Company, of the City of Little Rock,
moneys belonging to the Airport, Fire Equipment and Hospital Fund
of the City totaling $78,000.00, and on January 30, 1931 an interest
earned credit of 496.16, or a total deposit of 478,096-16; and
Whereas, in the liquidation of the said American- Exchange
Trust Company, insolvent, the City has recovered the sum of
$43,478.67 of the total on deposit, leaving a balance of 434,617.405;
and
Whereas, it has been determined that the liquidation of
the said American - Exchange Trust Company has been completed and that
there are no further dividends to be paid on frozen deposits; NOW,
THEREFORE,
BE IT ORDAINED BY THE CITY COUNCIT, OF THE CITY OF "TT;L r
ROCK, ARKANSAS.,
SECTION 1. That the City Clerk be, and he is hereby,
authorized to charge off the sum of $34,bl7.49 balance belonging
to the Airport, Fire Equipment and Hospital Fund on deposit with
the American - Exchange Trust Company, insolvent.
SECT ?ON 2. This ordinance shall be in force from and
after its passage and approval.
PASSED: December 21, 1942.
ATTEST:
ity Clerk.
APPROVED:
Mayor,