5398r�
ORDINANCE NO.-.5339
AN ORDINANCE SUBMITTING TO THE VOTERS OF THE CITY OF
LITTLE ROCK, ARKANSAS THE QUESTION OF WHETHER OR NOT
THE CITY OF LITTLE ROCK WILL ISSUE GENERAL OBLIGATION
BONDS IN THE AMOUNT OF J15YOOO.00 FOR THE PURPOSE OF
PAYING PART OF THE CONSTRUCTION AND EQUIPMENT COST OF
AND FOR THE PURCHASE OF A PA:"K TO BE USED AS A NEGRO
RECREATION PARK; AND FOR OTHER PURPOSES
WHEREAS, It appears to the City Council that the
City of Little Rock, Arkansas, is a city of the first class with-
in the meaning of the 11th Amendment (Appelegatets Constitution
Annotated) to the Constitution of the state of Arkansas adopted
on October 5, 1926, and is authorized by said amendment to issue
bonds for the purpose of purchase, development, improvement,
construction and equipment of an addition to the City of a public
park; and,
`T'HEREA, It appears to the Council that it is nec-
essary for the health, safety and convenience of the City and
the inhabitants and citizens thereof that park facilities be
provided for the negro population of the City; and,
WHEREAS, It appears to the Council that property
suitable for the construction of said park may be purchased at
a price not to exceed Nine Thousand ($9,000.00) Dollars and that
by the contribution of an additional six Thousand (1-P6,000.00)
a
the City can secure a large grant f rom the Federal Government
for the purposes of developing , improving, equipping and con-
structing said park; and that in order to finance the said ex-
penditure in the sum of Fifteen Thousand (,,,15,000.00) Dollars it
will be necessary to issue and sell general obligation bonds of
the City,, aggregating the principal amount of Fifteen Thousand
($15,000.00) Dollars; and,
WHEREAS, It appears to the Council that the issu-
ance and sale of said bonds of the City in the sum of Fifteen
Thousand Dollars ($15,000.00) for the purposes aforesaid, when
added to all other bonds cf the City issued under authority, and
now outstanding, will not cause the total bonded debt of the City
under the authority of the Constitution and the :amendments there-
to, to exceed the sum of Five 'billion ($5,000,000.00) Dollars;
and,
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WHEREAS, It appears to the Council that the City
has heretofore levied and pledged to the payment of its outstand-
ing bonds, issued under authority, of the Constitution and the
Amendment thereto, an annual tax of three mills; and,
WHEREAS, Said City has heretofore levied and pledgee
to the payment of its outstanding bonds, issued under authority
of the Constitution and its Amendments, an annual tax of 1 and 1/E
mills, and is now authorized to levy and pledge to the payment
of the proposed issue of bonds an annual tax not to exceed 3 and
5/6 mills.
NOT, THEREFORE,
BE IT ORDAINED BY THE CITY COUNCIL OF THh CITY OF LITTLE
ROCK, ARKANSAS
SECTION 1. t1n election is hereby called to be held
at the usual polling places in the City of Little Rock, Arkansas,
on the 26th day of January 1937, for the purpose of determining
whether or not the City of Little .mock shall issue Fifteen Thou-
sand (;15,000.00) Dollars in the aggregate principal amount of
negotiable general obligation bonds, bearing interest at the rate
of not to exceed four per centum per annum, payable semi - annually,
said bonds to mature as follows:
1940
$1000.00
1941
1000.00
194
1000 .00
1943
1000.00
1944
1000.00
1945
1000.00
1946
1500.00
1947
1500.00
1948
1500.00
1949
1500.00
1950
1500.00
1951
1500.00
Said bonds to be issued for the purpose of paying for the purchas(
price of the property to be used for the said negro park and for
the further purpose of paying part of the development, improve-
ment, construction and equipment cost of said proposed park and
to be payable on the first day of August in each of said years,
and to be dated as of the first clay of February, 1937.
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SECTION 2. 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 general
elections, and notice of said election shall be given by the
Mayor by advertisement weekly for at least four (4) times in
the Arkansas Gazette and the Arkansas Democrat, newspapers
published in the City of Little Rock, Arkansas, and having a
bona fide circulation therein, the last publication to be not
less than ten (10) days prior to the date of said election. The
ballots for said election shall be marked
"For bond issue in the aggregate principal
amount of Fifteen Thousand 015,000.00)
Dollars for the purpose of paying part of
t'r:e cost of construction and equipment and
the purchase price of 'a negro recreational
park for the City of Little Rock, rirkansas�'.
"Against bond issue in the aggregate principal
amount of Fifteen Thousand 015,000.00) Dol-
lars for the purpose of paying part of the cost
of construction and equipment and the purchase
price of a negro recreational park for the City
of Little Hock, Arkansas ".
At said election only qualified voters of the City of Little Rock
.ill have the right to vote. The result of said election shall
be proclaimed by the 'Aayor by publication in the Arkansas Gazette
and the Arkansas Democrat, newspapers published in the City of
Little ::ock, and having a general circulation t^ erein, and his
proclamation shall advise the citizens and property owners of
said City that the result as proclaimed will be conclusive unless
attacked in the courts within thirty (30) days after the date of
said proclamation.
SECTION 3. It is ascertained and declared that the
lack of adeq_tate park facilities for the negro citizens of the
City of Little hock endangers the morals, health and safety of
the inhabitants of the City; and by reason of the present econo-
mic condition, many citizens of the City are out of work, and
the improvement herein provided for would furnish work for a
large number of men and thereby add to the peace and happiness
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of the entire City. It is, therefore, declared that an emergency
exists and that this ordinance is necessary for the immediate
preservation of the public peace, health and safety and that
this ordinance shall take effect and be in full force from and
after its passage and approval.
Attest: December 11, 1936
Passed:.
a
City Clerk
Approves:= -`
Mayor.