3751ORDINAIVE NO.
AN ORDMANGE AUTHORIZING `FRB MAYOR, CITY GLEN AND
BOAI-0: CP 2UBLM AFFAMi TO GOMMACT FOR THE SALA CF
TT.0 IPWIDM BORM T88trEr, UNDRE TW AUTEWTICT OF
AIM MHNT NO. 11 TO 7"HE 0014810ITUTTON CF TM STATE OF
ARIKANS-A3 ,
Be it ordained by the City Oounoll of the
City of Little Rook:
SECTION 1, It is hereby ascer4ained and
deals-red that the Ind►btednese Of the oity Of Little
Rook existing at the tUnre of the adoption of Amenfi.
m(xt go* 11 to the constitution of the State of
Arkansas amounted to a sum in excess of $1,9009000.00.
SECTION E. The Mayor # o Ity clerk and Board
of Public Affairs are hereby directed to advertise in
a rnewspamr published and having a bona fide 61roalation
in the city of Little Rook for bids for the funding
I
bonds authorized to be issued by said amen t',mentq the
amount of said bonds to be $1t9OO9OOO.00. payable
serially through a period of 'J*arcs, the first bond
to be payable on Sep6sisher-19 1926, ind the schedule to
be ouoh that the amount to be paid each year after tba
year 1925 until the natuTIV of the last of said bonds
shall be substantially the same.
The bidders will be required to bid for the
lowest rate of interest and to submit a schedulo of
maturities And a plsoe of pegment preferred by them$ but
the saidOuvor', 'oi%r clerk and Board of 2ablic Affairs
shall reserve to themselves the right to accept or reject
any and all bids and to make suoh oontract as may be most
vq t "eous to the city., �;uch notice hal 1 lished
A - - 'oe 01
O-W— 4944 1 ky,
;?,�%:di �bonds shall be execu. e by the
citV cleric gad attested by the corporate seal, but
said bonds shall not be delivered until approved by Finance
TV -
) x (t'.4 a
2age 2, M1111AMB NO, 3751
Committee of this council.
bECTION 3, The Mayor, city clerk W 3oard
of 2ublio Affairs may contract for the printing of €s oh
bonds and for tb► legal services required in the prepar-
ation thereof, and all pa pe rs ousent Jai to the perfecting
of the transaotions sad for the approval of the bondep
but the charges therefor slyal not be more than those
castow,Xy in the clt�v of Littlio Rook for similar services.
SECTION 4. Tf any provision of this ordinqnoe
is heV to be void , it shall not affect the validity of the
remainder, but the rwm.indoT sbnl.l stand,
6Y.C'21011 E. Tt Is hereby ascertained and
declared that by reason of the beavy Indabtndnaes hinging
ovir "V"h-1 04
ItY it ifs unable to proouri or maintain proper
IaCllitie 3 for the extinction of fireaq prolvr police
protection or proper safeguards for the public health,
and that therefore it is L-1,116din-tely necessary for the
prnservation of the public Peace, health nr4 wifoty that
this ordiwince should -,,o into offnat innetiiately, and the
same shy %U taco effoat jLn?, be In force from nad after i 4
2n s6 o d 'wa"I' 14
Approved
r--Xayoro
X-A
.'City,
I