5156ORDINANCE N0.
AN ORDINANCE, FIXING THE ANNUAL RATE ANDS
DATE, CF C C LI.E C TI ON OF A 3aE SS1'1. ENTS OF �
BENEFITS IN CURB AND GUTTER IMPROVE;v;NT�
DISTRICT NO. 429, AND PROVIDING FOR
INTEREST ON i&ID A NUAL INSTANTS
OF BENEFITS.
udHErr;AS, Curb and Gutter Improvement District
No. 429 of the City of Little Hock has entered into an
agreement with the holders of its outstanding bonded indebted-
ness whereby it will issue refunding bonds to be exchanged
for the prOsent outstanding bonds of said district, said
refunding bonds to provide for raore time in which to pay
the outstanding bonded indebtedness, thus decreasing the
annual requirements to be collected from the property ovaiers
in the district; and
a1�REAS, it will be much easier for the property
owners in the district to pay the refunding bonas over a
period of years; and
WHOEAS, 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-
ment of the assessment of benefits;
NW, THERE�6 ORE, Be It Ordained by the City Council
of the City of Little Rock, Arkansas:
Section 1: That the said several lots, blocks,
parcels and tracts of real property in Curb and Gutter Improve-
ment District No. 429 of the City of Little Rock, Arkansas,
be and the same are hereby assessed according to the assess -
went list for said improvement district as the sane novi remains
in the office of the City 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 five per
cent (5%) of the 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 September 1, 1934,
to be paid annually on or before the first day of September
of each year until the whole of said assessments have been
paid. The assessments shall bear interest from the first day
of January, 1934 until paid at the rate of six per cent per
annum, but interest shall be collected upon each annual
installment separately and collection of interest shall begin
with the installment due on September 1, 1939 and shall be
collected on each installment thereafter unless otherwise
ordered by the Board of Commissioners.
Section 2: That all ordinances or parts of
ordinances shall be in full force and effect from and after
its passage.
Passed x11934.
APPRCVBD:
� / Mayor.
V�
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E
WALLAUR TOWNSR. -3M
ATTORNEY AT LAW
NATIONAL STANDARD BLDG.
LITTLE ROCK, ARK.
June 23, 1934.
Mr. John L. Krumm,
City Clerk,
City.
Dear Mr. Krumm:
INA, 4c��; Qkv
I am enclosing a re- assessment ordinance
carrying out the refunding of District No. 429. Please
present this to the next meeting of the council and have
it passed.
I am glad to tell you that the bonds of this
district have been refunded almost one hundred per cent,
and we expect the rest in very shortly. This will be
a very big help to the taxpayers in the district.
WT: T.
Enc.
Yours very truly,
J1�C37��
WALL &CE TOUNSEND.