3554M
ORDINANCE NO.
./
An Ordinance Ailthorizing the Funding and Reissuance of
�4 --- .� Outstanding City Park Warrants.
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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.