5569ORDINANCE NO. 5565
AN ORDINANCE FIXING THE ANNUAL RATE
AND DATE OF COLLECTION OF ASSESSMENT
OF BENEFITS IN CURB & GUTTER IMPROVE-
MENT
DISTRICT NO. 446 OF THE CITY OF
LITTLE ROCK, ARKANSAS; AND PROVIDING I
FOR'
M' OF BEWITB
WHEREAS, Curb and Gutter Improvement District Ito. 446
of the City of Little Rock, Arkansas, has entered into an agree-
ment with the holders of its outstanding bonded Indebtedness
whereby it will issue refunding bonds to be exchanged for the
present outstanding bonds of the district, said refunding bonds
to provide more time in which to pay said outstanding bonded
indebtedness thus decreasing the annual payments to be vollected
from 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; and
WHEREAS, the statute permitting refunding bonds
authorizes interest at not more than six per centum (6 %) per
annum from the date of the refunding bonds, to be collected on
each annual installment of the assessment of benefits;
NOW, THEREFORE, BE IT ORDAINED by the City Council
of the City of Little Rock, Arkansas;
Section 1. That the said several lots, blocks and
parcels of real property in Curb and Gutter 1 aysment District
Rio. 446 of the C ity of Little Rook, Arkansas 'b-e an- d "`'th-w. - saAie i'&'_4
hereby assessed according to the assessment list for said improve-
ment district as the list now remains In the office of the miter
Clerk of the City of Little Rock, Arkansas, and as it may hereafter
from time to time be revised or readjusted by the Board of
Assessors and that there shall be collected thereon annual
installments of assessments for the respective years at the
following rate:
w
For the years 1938 and 1939, 10% per year; for the
year 1940, 9; for the year 1941, 9% for the year 1942, 8-
for the year 1943, 8 %; for the year 1944, 7j%; for the years
1945 *ad 1946, 7% per .year; for the year 19472 O j for the
! years 1948 and 1949, Feat; ans3 f thae
The above described annual installments shall be due
on August 1st of each year beginning with August 1, 1938, and
the assessment of benefits shall bear interest at the rate of
6% per annum from February 1, 1938, the date of the refunding
bonds of the district, until paid and interest shall be eolleoted
on each and every annual installment, computed from February 1,
1938 to the due date of the installment, and shall be collected
with the installment.
Section 2. That all ordinances or parts of ordinances
in conflict herewith are hereby repealed.
Passed: [arch 21s,%,,1939
Approved.
eyor
ATTEST:
City Clerk