4599�N
ORDINANCE NO. 4599 .
AN ORDINANCE APPROPRIATING $19,908 FOR THE PURCHASE
OF CERTAIN STREET CONSTRUCTION EQUIMMNT, PAYS'',= IN THE YEARS
1930, 1931, 1932, AND FOR OTIER PURPOSES.
BE IT 02DAINrT'D, BY THE CITY COUNCIL OF THE CITY OF LITTLE ROCK:
i
Section 1. A certain contract, of date Yarch 26, 1930
by and between the City of Little Rock, Arkansas, therein desig-
nated as the purchaser, acting through the Board of Public
Affairs of said City, and Arkansas Tractor & Equipment Company,
therein designated as the seller, acting by its Secretary and
General 1,!anager, J. A. Riggs, for the purchase by the said pur-
chaser of and from the said seller of certain street equipment in
said contract specifically described, for an aggregate consider-
ation price of Nineteen Thousand Nine Hundred and Eight Dollars
($19,908), said purchase constituting one entire and indivisible
purchase of all of the street equipment so described for said
aggregate consideration price, a copy of which said contract is
made a part of the minutes of the meeting of the Council of said
City at which the within ordinance is adopted, is hereby in all
respects ratified, approved and confirmed according to all of the
terms, considerations and conditions of said contract; and there
is hereby pledged exclusively to the payment of the installments
of the said consideration price as specified in said contract,
pro rata with the installments of the consideration price as speci-
fied in other contracts of purchase of street equipment by the
said City now made or contemplated, the aggregate of which said
first mentioned and all other contracts shall not, in so far as
the said pledge is or may be affected thereby, exceed the sum of
$65,000, as and when the said installments of each and all of said
contracts respectively become due and payable, the first moneys
coming to the hands of the said City from and after the date of
the said first mentioned contract, and during each of the respec-
tive years 1930, 1931 and 1932, out of its share of the respective
taxes mentioned in said contract, to the full extent of the pay-
(2) '
ments required to be made by the said City in each such suc-
cessive year on account of its said purchases within said ag-
gregate of x;:65,000, which said first moneys so pledged shall be
kept separate and apart from the said City's all other funds
so long as any part of said consideration price of the said
aggregate of said purchases remains unpaid; and there is hereby
appropriated, out of the said first moneys, for the payment of
the said respective installments of said consideration price,
pursuant to said first mentioned contract, the sum of X3,981.60
which shall be paid to the said seller on July 1, 1930, the sum
of $7,963.20, which shall be paid to the said seller on July 1,
1931, and the sum of $7,963.20, which shall be paid to the said
seller on July 1, 1932.
Section 2. The Mayor and City Clerk are hereby authoriz-
ed and directed to execute the City's warrants in the above sums
on the above mentioned dates, payable out of the funds referred
to above, accruing to the City under Act Number 605 of the Acts
of the General Assembly of Arkansas of 1921, out of all taxes
levied and collected in Pulaski County, Arkansas, pursuant to
Section 5490 of Crawford & Moses' Digest of the Statutes of Ark-
ansas, and under Act Number 443 of the Acts of the General Assembly
of Arkansas of 1919 out of the road tax collected under said Act
in said City.
Section 3. This ordinance shall be in force and take
effect from and after the date of its passage.
Passed: April 28, 1930.
Attest:
C ty Clerk.
Approved:
_ zr mayor.