5165ORD INANCE N0.
ORDINANCE FIXIIIG THE ANIMAL RATE A1D DATE OF COLLECTION
OF ASSESS.E 3T OF BENEFITS Iii STREET IMPROVEi:EINT DIS�'RICT
NO. 326, AND PROVIDING FOR INTEREST 07 SAID ANI,UAL INSTALL-
MENTS OF BENEFITS.
WHEREAS, Street I- ;.provement District No. 326 of the City
of Little Rock, Arkansas, has entered into an agreement with the
holders of its outstanding bonded indebtedness whereby it will issue
refunding bonds of said district, said refunding bonds to provide
for more time in which to pay the outstanding bonded indebtedness,
thus decreasing the annual requirements to be collected from the
property owners in the district; and WHEREAS, the statute permitting
refunding bonds provides for interest at six per cent per annum from
the date of the refunding bonds to be collected on each annual
install -meat 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, parcels
aAd tracts of real property in Street Irn-orovement District No. 326
of the City of Little Rock, Arkansas, be and the same are hereby
assessed according to the assessment list for said improvement dis-
trict as the same now remains in the office of the City Clerk of the
City of Little Rock, Arkansas, and as it may hereafter from ihi time
to time be revised or readjusted by the Board of Assessors, and that
five (5) per centum of said assessment of the value of the benefits
on each of said lots, Blocks, parcels and tracts of real property in
said district, beginning with December 4th, 1934, shall be paid on or
before the fourth day of December, 1''34, and on or before the fourth
day of December of each year thereafter, until the whole of said
assess:ne 7its have been paid. Each annu<U installment shall bear inter-
est at six tier cent per annum from March 1st, 1934 the date of the
aforesaid refunding bonds, until paid, said interest to be computed aryl
collected separately upon each annual installment of the assessment of
benefits.
Section 2. That all ordinances or parts of ordiances in con—
flirt herewith are hereby repealed, and this Ordiance shall be in full
force and effect from and after its passage.
Passed: August 13, 1934
Attest: Approved:
M
City Clerk ayor�� 3�
Date
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..........
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