3037extended by the issual-4,,% ,f _23Pz,,, negotiable warrants of the
City- of Little Rock of ark equivalen� face amount. Said new
arrants shall be known f s Series A, to bt numbered from
276 to 420; inclusive. teach such warrant may btar--the in-
scription "municipal note (a negotiable warrant)" and 7E of
said warrants shall be of the denomination of '5000 each and
70 of said warrants shall be of the denomination of - ;;10000
'g
each; said warrants 'Shall all be dated September 25, 1922,
and shall be pay able on Seb k amber 25 1923.
iT
t foIotb W last, —
uGh
ORDINA,NC9 NO.
An Ordlnanco Authorizing the Funding ana
alp-
$e3ssuance of $1,075,000 Outstanding War.
T,
rants of the City of Little Rock.
WHEREAS, there are outstanding warrants
rite
of the City of Little Rock of the aggregate
lar,
amount of $1,075,000, payable Sep ember 25,
be
r in
1922, and there are not, and will ni t when
said warrants become payable, Tune available
for their payment; and
WHEREAS, said warrants are negotiable
warrants (otherwise described as Municipal
1r11-
Notes) dated March 25, 1922, being Series A,
The
Nos. 1 to 225 inclusive, Nos, 1 to '00 inclu•
of said warrants being in the :ienomina.
'!fiCsrve,
tion of $5,000 each, Nos. 101 to 151; inclusiv4
ace
in the denomination of $10,000 each and Nos,
l
151 to 225 inclusive, in the denomination of
$1,000 each; and
WHEREAS, said outstanding warrants were
non
lssued in exchange for Funding Warrants ma
lest
turing March 25, 1922, all as described in Or*
the
dinance No. 2946, adopted on April 3, 1922;
and
WHEREAS, the City Council of the City of
Little Rock, prior to the issuance of such
funding warrants maturing March 25, 1922,
and each of them, and also prior to the issu.
as-
ance of such negotiable warrants ,(otherwise
)011
described as municipal notes) dated March 25,
ay
1922, and each of them, did carefully examine
and determine the legality of the pri,3r out-
tnt
standing warrants in exchange for which such
'se
warrants respectively were issued, r
h
gality of the original indebtedness
e
b.
sir .1' srrs` br`ts :
instance carefully ascertain and ds{?' :';L2
,
validity and amount of such prior indebtedness
and outstanding warrants before authorisii,g
he
the re- issuance thereof; and
1(i
WHEREAS, the City Council of the City of
- - -- le
Little Rock has found that each of said war.,
rants dated March 25, 1922, was duly and -G r`'7tn7
V�d
tl _
properly issued for municipal purposes and
that the said City has received in the case
0"
of each of such warrants at least the face
iII
amount thereof and that the said warrants s
aggregating $1,075,000 and the indebtedness
represented thereby are valid and that no part
of said warrants or indebtedness has been
or
paid. Now Therefore,
BE IT ORDAINED by the City Council cf
the Cityf Tittle Rock, Arkansas, as follows;
_ l_ -.__ r said wl , G r 5 , {000 warrants shall be
funded and rAissued
C, indebtedness represented thereby
extended by the issual-4,,% ,f _23Pz,,, negotiable warrants of the
City- of Little Rock of ark equivalen� face amount. Said new
arrants shall be known f s Series A, to bt numbered from
276 to 420; inclusive. teach such warrant may btar--the in-
scription "municipal note (a negotiable warrant)" and 7E of
said warrants shall be of the denomination of '5000 each and
70 of said warrants shall be of the denomination of - ;;10000
'g
each; said warrants 'Shall all be dated September 25, 1922,
and shall be pay able on Seb k amber 25 1923.
iT
t foIotb W last, —
ht fA lgevotfable "VWtFFKbi'"
,Ie ""`e City 1 e Rc,!?• a muri� t"al cor-
poration in the Coui.:.., _ - i'A�'uaki a, (I State
f$- of Arkansas, hereby acknowledges i_;elf in-
debted and promises to pay, and the City
Treasurer is hereby ordered to pay to the
bearer, the sum of
it, DOLLARS ($ ---------- ) in lawful money of
a- the United States of America, at the Chase
National Bank, New York City, on the 25th
day of September, 1923.
This warrant is issued pursuant to tho con-
stitution and statutes of the State of Arkan-
sas, including Act No, 383 of the Acts of Ar-
kansas of 1917, and an ordinance adopted by
the City Council of the City of Little Rock
on 1922, for the purpose of extend -
i the payment of certain indebtedness of
aid city by exchanging outstading warrants
which were duly and properly issued for mu-
nicipal- .purposes and for which the city has
received full value, equivalent to the face
amount thereof.
It is hereby certified and recited that ail
conditions, acts and things required by the
I1 constitution and statutes of the State of Ar-
kansas to exist, be performed and happen pre-
y cedent to or in the issuance of this warrant.
e m• the incurring of the indebtedness evidenced
thereby, have been properly done and perform -
o ed in regular and due form as required by law,
r and that said warrants and indebtedness, to-
gether with all other indebtedness of the City
t 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 war-
rant or the indebtedness evidenced thereby has
1 been paid. The full faith, credit and resources
j of said City are hereby pledged to the pun- -
tual payment of this warrant in accordance
with its terms.
In, witness whereof; the said city of Little
Rock has caused this ,warrant to be signed by
- its mayor and its corporate seal to be here -
unto affixed and attested by the city clerk,
and this warrant to be dated September 25,
1922.
Mayor.
Attest: ----------- — -- — ---------
City Clerk.
(Endorsement on Warrant)
It is hereby certified that this warrant is
registered and recorded at line______, on page
------ , in Warrant Book No. kept in
P the office of the city clerk of the city of Little
Rock.
r( ~------- - - - - -- 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 at line
t _ on page _____ in Warrant Book No.
in the office of the city treasurer of
the city of Little Rock.
j City Treasurer.
(Certificate)
This is to certify that the signatures and
seal appearing on the within Municipal Note
of the city of Little Rock, Arkansas, are gen.
uine. ,
Dated, -------- --------- - --, 1922.
B}'--- - -- --� --------------- --
Section S. The mayor, city clerk and city
treasurer are hereby authorized and directed
to execute, register and record said warrants,
and to issue and deliver said warrants to the
holders of said outstanding $1,075,000 of war.
-'
rants upon receiving from said holders the said
l outstanding warrants. Each of said outstand-
ing warrants when exchanged shall be cancell-
ed by perforation by the City Clerk and stamp-
ed ' cancelle:l upon issuance of new warrant
in exchange_"
Section 4. This ordinance is hereby deter-
mined to be an ordinance for the support and
i maintenance of the various branches of the
`municipal government of the city of Little
Rock.
Passed 922._ _
I