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ORDINANCE NO.
2970.
AN ORDINANCE AIENDING AN ORDINANCE: NO. 2 9 5 4
ENTITLED "AN ORDINANCE APPROPRIATIM THE SUM OF $56,250., OR
AS I:T[JCH THE13EC'F A3 TIAY BE PIECESSARY ITC PAY J. L. ARLTTT & CC.,
FOR THEIR FLES AND a+;XPMSES AS FISCAL 9.G ^-"TS OF THE CITi OF
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ADOPTED AND APPROV L- -. APRIL 10, 1922, AND C ON_r IR i Gl �ock,
IACTIuY ALREADY TAKEN UNDER SUCH ORDINANCE AS AIM- ,NDIZ.
WEREAS, Ordinance No. 2954 provides for the payment
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of �� 4*1) to J. L. Arlitt for his fees and expenses in
securing a loan for the City of Little Rock, in the amount
of 41,125,000; and
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�:1REAS, said J. L. Arlitt has not secured such a
loan and no such loan has been authorized, but said Arlitt
has secured the extension of the existing debt of the City
in the amount stated by the iss_ance of new municipal notes
(negotiable warrants) dated T -uarch 25, 1922 and April 1, 1922,
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pursuant to Ordinances Taos. 2946 anc 2947, adopted April
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X1922, in exchange for the city warrants maturing on March 25,
11922 and April 1, 1922, in all respects as recited in said
Ordinances of April 3; and
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°dHEREAS, p► 8 ,.6 of notes author-
ized by Oruinance3.NcS 2947 have been exchanged as aforesaid
and the city's indebtedness extended in the amount of
0 /,/1S_dv0
and
'MREAS, warrants have been issued to said J. L. Arlitt
under said Ordinance No. 2954
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`for procuring such extension;
in th. e amount of 56, 250
NOW, TH1REF01E, BL IT OI3TAIlUtE b;- the City Go ).ncil
of Little Rock, Arkansas, as follows:
Section 1. Section 1 on the said Ordinance Z,o .2
adopted April 1( -, 1.922, is hereby amended. to read as follows:
"Section 1. The sum of 456,250, or as much
thereof as may be necessary, is hereby appropriated
out of any money in the general revenue fund not
otherwise expended for the purpose of paying J. L.
Arlitt his fees and expenses incurred for securing
an extension of the indebtedness of said city
represented by 4-1,125,000 warrants maturing parch
25, 1.922 ano. April 1, 1.922 respectively anc the
mayor an& city clerk are hereby directed to draw
the city's warrant therefor, payable to the said
Arlitt, or such person or persons as said
lArlitt may order.
Section 2. The action of the mayor and city clerk
in securing the extension of the city's debt and in paying
the fees and expenses of said J. L. Arlitt in connection
therewith is hereby in all respects confirmed.
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Passed- 'lay 1, 1922.
Attest:
City Clerk.
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Approved:
Ilayor.