5952ORDINANCE NO. 5952
AN ORDINANCE ASSESSING THE VALUE OF BMEFITS
TO BE RECEIVED BY THE OWNERS OF THE PROPERTY
W # `- 4VMZNT DIMICT 34®.' Slt _r
AM TIXING THE RATE AND DATE OF COLLECTION
THEREOF.
MEREAS, Street Improvement District No. 515 or
the City of Little Rock, has entered into an agreement with
the holders of its outstanding bonded indebtedness whereby
it will issue refunding bonds to be exchanged for the pre-
sent outstanding bonds of said district, said refunding
bonds to provide for more time in which to pay the out-
standing bonded indebtedness, and to reduce the interest
on said bonds, thus decreasing the annual payments to be
oelleated frca the property owners in the district; and
WHEREAS, it will be much easier for the property
owners in the district to pay the refunding bonds over a
longer period of years;
NOW, THEREFORE, be it ordained by the City Council
of.the City of Little Rock, Arkansas;
Section 1. That the said several lots„ blocks,
parcels and tracts of real property in Street Improvement
District No. 515 of the City of Little Rock, Arkansas, be
and the same are hereby assessed according to the assessment
fist for said improvement district as the sgme,nos remit
in the office of the City Clerk of the City of Little Rock,
Arlmnsas, and as it may hereafter from time to time'be re-
wised or readjusted by the Board of Assessors, and that said
assessment shall be levied and collected as follows:
5% of said assessment of benefits to each of said
lots, blocks and parcels of land on or before February 1, of
the years 1941 to 1947, inclusive, and 9% on or before Feb-
ruary 1 of each year thereafter until the whole of said as-
sessment shall have been paid.
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Section 2, That 811 ordinances or parts of or.
dinanoes in conflict herewith are repgal,ed.
ea'�ton �.fimuch aa� the bonds heretofore is -�"
sued by this district are past due, and if said bonds are
not paid immediately, the property included in the district
will be foreclosed and sold, this ordinance is necessary for
the immediate preservation of the public peace, health and
safety, and an emergency is hereby declared to exist and
this ordinance shall be in full force and effect after its
passage.
Passed:
Approved:
ATTW
ity F
71�a4O
yor
1940 • /1�