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5858ORDINANCE NO. 585 AN ORDINANCE SU.fZMTING TO THE VOTERS OF THE CITY OF LITTLE ROCK, _ARKANSAS, THE QUESTION OF WHETHER IT WILL ISSUE- THE FOLLOWING BONDS FOR THE FOLLOWING PURPOSES: FOR COMPLETING THE CONSTRUCTION AND EV11MENT OF THE CITY AUDITORIUM; FOR - THE PURCHASE OF FIRE FIGSTING APPARATUS,. CONSTRUCTION OF BUILDINGS FOR THE . HOUSING OF FIRE FIGHTING APPARATUS AND MAKmiG ADDITIONS TO FISTING BUIM NGS FOR TjM HOUSING OF FIRE FIGHTING APPARATUS: AND FOR . IMP'ROVE U OF THE CITY AIRPORT BY CONSTRUCTING ADDIT IONAl RUNWAYS AND AN ADMINISTRATION BUILDING AND PURCHASING, ADDITIONAL LAND r. FOR SAID AM1,WO`. ". BY THE COY - 00MIL Mr - THE CITY' OF -L== Wer, ARKANSAS Section 1. That at the general city election to be held in the City of Little Rock, Arkansas, on the 2nd day of April, 1940, there be submitted the question whether the City of Little Hock shall issue bonds for the following purposes, for the following amounts and to mature as follows: o the .. purchase` Off. fjrb-°,ffto* �.:aPpg�at �tc6fistrue- tion of buildings for the housing of fire fighting apparatus and making additions to existing buildings for the housing of $25,000 ire fighting appparatus, $5.0, 000, maturi --t- 5,000 c 144 on March 1 in each of the years 1 0 nc usive. For improvement of the city airport by constructing additional runways and an administration building and purchasing additional land for said airport, $75,000, maturing March 1, 1944. For co*pleting the construction and equipment of the City auditorium, X30,0000 maturing March 1, 1944. Section 2. Said bonds shall be negotiable, and shall not be sold at a price so low as to require the City to pay in- . terest at more than 4% per annum on the amount which it may re- eeive for said bonds, computed in accordance with standard tables of bond values. Said bonds shall be sold at public s4e, after twenty (20) days' notice by advertisement in some newspaper hav- ing a bona fide circulation in the City of little Rook, Arkansas. Said bonds shall be dated as near the date of sale thereof as practicable; provided, however, that the bonds shall not be dated later than March 1, 1941. The said bonds may be callable at par and accrued interest on any semi - annual interest ow Ik Page 2 - Ordinance date after three (3) years from date of issue. Section 3. Said election shall be. conducted and the vote thereat canvassed and the result thereof declared under the law and in the manner now provided for municipal elections, and notice of said election shall be given by the Mayor by ad- vertisement weekly for at least four (4) times in some newspaper i pu1.so ` i`° the City ©` T;i ®4`ay and` hvig a bona fide cir- culation therein, the last publication to be not less then ten (10) days prior to the date of said election. 'TIM b'a].1 ai ®Yt "= b'all" :' marked as follows: 'For the purchase of fire fighting apparatus, construction of buildings for the housing of fire fighting ap- paratus and making additions to existing buildings for the hous- ing of fire fighting apparatus, $50.000- Against the purchase of fire fighting apparatus, it construction of buildings. for the housing of fire fighting appa- ratus and making additions to existing buildings for the hous- ing of fire fighting apparatus, 450,000- For improvement of the city airport by construct- ing additional runways and an administration building and pur- chasing additional land for said airport, $75,000. I Against improvement of the city airport by con - strutting additional runways and an administration building and purchasing additional land for said airport, $75,000. For completing the construction and equipment of the city auditorium, $30,000.00. Against completing the construction and equipment of the city auditorium, $30,000.0 At said election only qualified voters of the City of Little Rock shall have the right to vote. The result of said election shall be proclaimed by the Mayor by publication in some newspaper published in the City of Little Rock, and his proclam- ation shall advise the citizens and property owners of said City .O Page 3 - Ordinance that the result as proclaimed will be conclusive unless attacked in the courts within thirty (30) days after the date of such proclamation. Section 4. It is ascertained and hereby declared that the prompt purchase of fire fighting apparatus and the construc- tion of additional buildings for housing of fire fighting appara- t U-4 A-" e$aAltial- t© a pub] a v �� t the traffic by air z ow pie "e eh�i r ' that the prcimpt i� rrevement of the city air- port is essential to _the public safety that the unfinished con- dition of the city auditorium is a menace to the safety and health of the public; and that by reason of the present economic condi- tions, many citizens of the City are out of m rk, and the improve- ments herein provided would furnish work for a large number of men and thereby add to the peace and happiness of the City. It is, therefore, declared that an emergency exists, that this or- dinance is necessary for the immediate preservation of the publi,e 1 peace, health and safety, and that this ordinance shall take ef- feet and be in force from and after its passage. PASSED: February 26, 1940 ATTEST: �.e.i.lt.w►.- ty Clerk