5254ORDL7ANCE NO -- 5254 _
Ali' ORDINANCE AUTHORIZING Thy, BORROWING OF $30,000.00 FROM THE SPECIAL
AUI'OiIOBILE FUND OF THE CITY OF LITTLE ROCK AND $10,000.00 FROM THE
ROAD FUND TO BE PLACED IN THE GENERAL FUND OF THE CITY OF LITTLE ROCK
UNTIL SUCH A TIME AS THE SHERIFF OF PULASKI C0-?NTY :,TAKES FINAL SETTLE -
11ENT WITH THE CITY OF LITTLE ROCK AT WHICH TIME SAID LOAN SHALL BE RE-
PAID FROM THE GrTERAL FUND TO THE SPECIAL AUTOMOBIL.{, FUND A'�TD THE ROAD
FUND; Ain FOR OTHER PURPOSES
7�MREAS, The General Fund of the City of Little Rock is at present ex-
hausted; and,
HEREAS, There will be approximately $ PAID into said
fund when the Sheriff of Pulaski County makes his final settlement to the City
of Little Rock for the collection of 1934 taxes; and,
WHEREAS, There is to the credit of the Road rand the sum of $10,000.00
which will not be needed until after the settlement of the Sheriff; and,
7MR.EAS, There now remains in the Special Automobile Fund $30,000.00
which sari, will not be needed for street _- urposes until after the date of final
settlement of said Sheriff;
low, Therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF TIM CITY OF LITTLE ROCK, ARKA5SAS
SECTION 1. That the Mayor and City Clerk are hereby authorized to issue
the city's warrants in the sum of'$30,000.00 payable from the Special Automobile
Fund and to the General Fund, and in the further sum of $10,000.00 payable from
the Road Fund to the General. Fund, said warrants to indicate upon their face that
C said amounts are borrowed from said funds to be re -paid at the date upon which
the Sheriff of Pulaski County makes final settlement to the City of Little Rock
jj for his collection of 1934 takes.
SECTION 2. Immediately upon receipt of the final settlement of said
Sheriff, the Mayor and City Clerk are hereby directed to issue the City's war -
�Irants upon the General Fund of the City of Little Rock in the-sum of $3C,000.00
payable to the Special Automobile Fund and the further sura of $10,000.00 payable
it
to the Road Fund in re- payment of this loan of $40,000.00 now being made.
SECTION 3. Due to the luck of funds in the City's General Fund it is at
present impossible to pay salaries of city employees as a result of which func-
tions of city government are in da.n6er of being terminated thus causing great
damage to lives and property in the City of Little Rock and the hm- -rediate passase
'- r►,
-V-
of this ordinance being necessary for the peace, health and safety of the City of
Little Rock an emergency is hereby declared to exist and this ordinance shall be
in force and take effect from and after the date of its passage.
Passed; June 27, 1935
Attest; Approved;
City Clerk