5949An Ordinance Assessing the Value of the Benefits to be
Received by each of the Lots and Parcels of Real Pro-
perty in Annex No. 2 to Street Improvement District
No. 531 of the City of Little Rock, Arkansas,
WHEREAS, the majority in value of the property
holders owning property adjoining the locality to be
affected and situated in Annex No. 2 to Street Improvement
District No* 531 organized for the purpose of grading,'
draining, curbing, guttering and paving Valmar Street
from the North boundary line of West 24th Street to a
point 150 feet South of the South boundary line of West
22nd Street in the City of Little Rock, Arkansas, have pe-
tits cned the Council of the City of Little Rock, Arkansas
for the construction of said improvement, and that the
cost thereof shall be assessed upon the real property of
said district according to benefits received; and,
WHEREAS, said benefits received by each and
every block, lot and parcel of real property situated in
said district equals or exceeds the local assessment there-
on; and,
WHEREAS, the estimated cost of said improvement
is One Thousand Six Hundred and no /100 ($1,600.00) Dollars,
exclusive of interest on.borrowed money;
THEREFORE, it is now ordained by the City Council
of the City of Little Rook, Arkansas;
Section 1. That the said several lots of real pro-
party in said district be assessed according to the assess-
said, *pr*". neat district as the same now
remains in the office of the City Clerk and that eight (8%)
per cent of the assessment on each of said lots shall be
paid annually on or before the 1st day of February of each
of said local
year beginning February 1, 1941 untilthe whole /assessment
of benefits shall have been paid or until the outstanding
bonded indebtedness against said district shall have been paid.
section 2. That all ordinances and parts
of ordinances in conflict herewith are hereby repealed,
and this ordinance shall be in full force and effect
and after
from /the date of its passage.
Passed;
uiv 2g. 1940.
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