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3554M ORDINANCE NO. ./ An Ordinance Ailthorizing the Funding and Reissuance of �4 --- .� Outstanding City Park Warrants. bl-f0Cr.to Whereas, There are outstanding warrants of the City L V. o O of Little Rock of the amount of , . , duly issued for the pkrrchaEr e price of a portion of the land, for the ,nel C ty Pad and there are not funds in hand for their payment; and, Whereas, Said warrants have been presented to the City and their reissuance requested by the holders thereof; and, Whereas, The City Council of the City of Little Rock has examined all the facts relative to the indebtedness for which such warrants were issued and to the issuance of said warrants and has found and does hereby find, adjudge, and declare that said warrants were duly and properly issued for a municipal purpose, and that the City has received for such warrants at least the face value thereof, and that said f�G�- 000 °o warrants, for , , and the indebtedness represented thereby, are valid, and that no part of said warrants or in- debtedness has been paid; Now, Therefore; BE iT ORDAINED BY THE CITY COUNCIL OF THE •CITY OF LIT'T'LE ROCK, ARKANSAS, AS FOLLOWS: '61s_ b D A O" Section 1. The said warrants for 0, 44- ':YO shall be funded and reissued and the indebtedness represented thereby extended by the issuance of negotiable warrants of the City of Little Rock of an equivalent face amount. Said F /i new warrants shall be known as Series ,, to be numbered from to �� �, inclusive . Each such warrant may bear the inscription 1111unicipal Note (A Negotiable Warrant,)T and said warrants shall be of the denomination of 4' 000.00 each S and said warrants shall be dated "aaig i99�y� - 4r_ 19P45, and shall be payable , Section 2. Said warrants shall be issued in sub- stantially the following form: Series No. j pO4_` Q° UNITED STATES OF AMERICA STATE OF ARKANSAS CITY OF LITTLE ROCK MUNICIPAL NOTE. (A Negotiable Warrant) The City of Little Rock, a municipal corporation in the County of Pulaski and State of Arkansas, hereby acknowl- edges itself indebted, and promises to pay and the city treasurer is hereby ordered to pay to the bearer the sum of DOLLARS (sp Svoo � in lawful money of the United States of America, at the CHASE NATIONAL BANK, New York City, on the ,1924. This warrant is issued pursuant to the constitution and statutes of the State of Arkansas, including Act No. 383 of the Acts of Arkansas of 1917, and an ordinance adopted by the City Council of the City of Little Rock on June 23, 1924, for the purpose of extending the payment of certain indebt- edness of said city, by exchanging outstanding warrants which were duly and properly issued for municipal purposes and for which the city has received full value equivalent to the face amount thereof. it is hereby certified and recited that all condi- tions, acts and things required by the constitution and stat- utes of the State of Arkansas to exist, be performed and hap- pen precedent to or in the issuance of this warrant or the incurring of the indebtedness evidenced thereby have been properly done and performed in regular and due form as re- quired by law, and that said warrant and indebtedness, to- gether with all other indebtedness of the City of Little Rock, is within every debt and other limit prescribed by the constitution or statutes of said state and that no part of said warrant or the indebtedness evidenced thereby has been paid. The full faith, credit and resources of said city are hereby pledged to the punctual payment of this warrant in ac- cordance with its terms. In licitness Vhereof, the said City of Little Rock has caused the warrant to be signed by its mayor and its cor- porate seal to be hereunto affixed and attested by the city clerk, and this warrant to be dated ^'- Mayor . Attest: City Clerk. (Endorsement on Warrant) It is hereby certified that this warrant is regis- tered and recorded at line on page — in Warrant Book No. _ kept in the office of the city clerk of the City of Little Rock. City Clerk. It is hereby certified that this warrant has been registered with and recorded by the city treasurer of the City of Little Rock on line on page in Warrant Book No. in the office of the city treasurer of the City of Little Rock. City Treasurer. %~ ? NoV (Certificate) This is to certify that the signatures and seal ap- pearing on the within Municipal Note of the City of Little Rock, Arkansas, are genuine. Dated By - Section 3. The Mayor, City Clerk and City Treasurer are hereby authorized and directed to execute, register and_ record said warrants and t issue, and deliver said warrantsc�; tcm;-t� holders', said outstanding warrants. Said outstand- ing warrants, when exchanged, shall be canceled, by perfora- tion, by the City Clerk and stamped: "Canceled upon Issuance of New Warrants in Exchange.91 Section 4. This ordinance has the statutory effect of a judgment determining the validity of the indebtedness and of the warrants above recited, including the warrants to be issued; and the holder of any of said warrants may enter judgment thereon in any court having jurisdiction of the parties upon presenting to such court both such warrant or warrants and a duly certified copy of this ordinance, provid- ed that such warrant shall have been presented for payment at or after maturity, which fact may be evidenced by state- ment thereon signed by the City Treasurer. Section 5. This ordinance is hereby determined to be an ordinance for the support and maintenance of the va- rious branches of the municipal government of the City of Little Rock. Passed , June 23 1924. Approve��"` Mayor. Attest: _ City Clerk.