5499ORDINANCE N0. 5499
AN ORDINANCE AUTHORIZING THE TREASURER OF THE CITY
OF LITTLE ROCK, ARKANSAS, TO ACCEPT FROM THE
FEDERAL GOVERNMENT THROUGH ITS PROPER AGENCIES ALL
MONEY TO BE PAID BY THE FEDERAL GOVERN'ENT TO THE
CITY OF LITTLE ROCK UNDER A LOAN AND GRANT AGREEPvIENT
AND ALL MONEY REALIZED BY THE CITY BY THE SALE OF
BONDS IN THE AGGREGATE AMOUNT OF $418,000.00 FOR THE
PURCHASE OF A SITE FOR AND CONSTRUCTION AND EQUIP-
MENT OF A MUNICIPAL AUDITORIUM; FIXING A BOND FOR
THE CITY TREASURER TO PROTECT SAID FUND; AUTHORIZING
THE BOARD OF PUBLIC AFFAIRS OF THE CITY OF LITTLE
ROCK TO MAKE ALL NECESSARY CONTRACTS FOR THE
SELECTION AND PURCHASE OF A SITE FOR THE MUNICIPAL
AUDITORIUM AND FOR THE CONSTRUCTION AND COMPLETION
OF SAID AUDITORIUM; AND PROVIDING FOR THE DISBURSE-
MENT OF SAID FUNDS AND FOR OTHER PURPOSES.
WHEREAS, at an election held on the 26th day of January,
1937, qualified voters of the City of Little Rock authorized the
issuance of general obligation bonds in the aggregate principal
amount of $468,000.00 for the purpose of paying part of the cost of
purchasing site for and construction and equipment of a Municipal
Auditorium; and
WHEREAS, the Federal Government has agreed to purchase said
bonds in the aggregate amount of $418,000.00 and make a Grant to the
City of Little Rock in the amount of $342,000.00 for the purpose of
purchasing a site for and construction and equipment of the Municippl
Auditorium;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF LITTLE ROCK:
Section 1. That the City Treasurer of the City of Little
Rock is hereby authorized and directed to receive all sums paid by
the Federal Government to the City and all sums realized by the City
by the sale of bonds for the purchase of a site for and construction
and equipment of the Municipal Auditorium, and said suns shall be
deposited by the City Treasurer in an account to be known as "The
Municipal Auditorium Fund "; that the City Treasurer is hereby
directed to furnish proper surety bond in the sum of $25,000.00 in
favor of the City for the proper accounting of any and all sums so
received, said bond to be approved by the City Council of the City
of Little Rock, Arkansas.
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Section 2. That the Board of Public Affairs is hereby
directed, authorized and empowered to proceed immediately to make
all necessary contracts and agreements and to do all things necessary
for the selection and purchase of a site for and the construction
and equipment of a Municipal Auditorium; however, said Board of Public
Affairs shall have no power to make contracts or expenditures for
the construction of said Municipal Auditorium totaling a sum greater
than $760,000.00, which has been ascertained to be the maximum total
cost of the Municipal Auditorium. That the Board of Public Affairs
shall submit to the Council for approval all proposed contracts for
the purchase of a site for the Municipal Auditorium.
Section j. That the payments for the purchase of site
for and construction and equipment of said Municipal Auditorium under
contracts made by the Board of Public Affairs shall be made only after
the said Board of Public Affairs has approved in writing all
requisitions for disbursements; such approved requisition or
requisitions shall be forwarded to the City Treasurer who shall, upon
ascertaining the approval of such requisition or requisitions, issue
a check or checks in the proper amount against "The Municipal
Auditorium Fund ", and said check or checks when signed by the City
Treasurer shall be presented to the Mayor who shall countersign
same, and the Depository holding said funds shall then honor said
checks.
Section 4. The Mayor of the City of Little Rock is hereby
authorized and empowered to receive and endorse for deposit in said
"Municipal Auditorium Fund" any and all checks or vouchers for the
payment of funds to the City for bonds sold and delivered and Grants
made by the Federal Government.
Section 5. It is ascertained that the lack of an adequate
place for public meetings in the City of Little Rock endangers the
health and safety of the inhabitants of said City, and this Ordinance
is necessary for the immediate preservation of the public peace, health
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and safety, an emergency is declared to exist and this Ordinance
shall take effect and be in force from and after its passage.
Passed: October 1, 1937
Attest:
City Clerk.
Appr
Mayor.