1349RESOLUTION NO. 1349
A RESOLUTION ACCEPTING THE OFFER OF THE UNITED STATES
TO THE CITY OF LITTLE ROCK TO AID BY `STAY OF LGLU X.ND
GRANT IN FINANCING THE PURCHASE OF LAND RIGHTS- OF -WAY
FOR, AND THE CONSTRUCTION OF, IMPROVEMENTS TO SEWER
SYSTEM AND PROPOSED SEWAGE COLLECTION SYSTEMS PITT {PING
ST ATIONS, IrTERCEPTING SEWERS, OUTFILL SEbTERS, FORCE
MAINS AND APPURTENANCES.
BE IT RESOLVED BY THE CITY COUNCIL OF TEE CITY OF LITTLE
ROCK, P'ULISKI COUNTY, ARKUNSAS:
Section 1. That the offer of the United States of America
to the City of Little Rock to aid by way of loan and grant in
financing the purchase of land rights -of -way for, and the con-
struction of, improvements to sewer system and proposed sewage
collection system, pumping stations, intercepting sewers, outfall
sewers, force mains and appurtenances, a copy of which offer reads
as follows:
"FEDERAL EInMI GENCY ADRINISTRLTION
OF PUBLIC WOFME
Washington, D. C.
December 7, 1935,
State File No.Ark.1090.
City of Little. Rock,
Pulaski County, Arkansas.
1. Subject to the Rules and Regulations (Pr`A Form No,
166, July 22, 1935, as amended to date) which are made a part
hereof, the United States of America hereby offers to aid in
financing the purchase of land rights -of -way, for,and the con -
construction of, improvements to serer system (herein called
the "Project ") by making a grant to City of Little lock, in the
amount of forty -five (45;x) percentum of the cost of the Project
upon completion, as determined by the Federal emergency Adminis-
trator of Public Works, but not to exceed, in any event, the sum
of "738,000, and by purchasing, at the principal amount thereof
plus accrued interest thereon, from the City of Little Rock ob-
ligations of the description set forth below (or az ch other descrip-
tion as shall be mutually satisfactory) in the aggregate principal
amount of 5;902,000, less such amount of such obligations, if any,
as the City of Little Rock may, with the consent of the Federal
Emergency Administrator of Public Forks, sell to purchasers other
than the United States of America:
(a) Obligor: City of Little Rock;
(b) Type: Negotiable, special obligation, sewer revenue,
serial, coupon bond;
(c) Denomination: ; -1,000 (d) Late: December 1, 1935;
(e ) Interest rate and interest paynent dates; 4% per annur.1
payable on June 1 and December 1 in each year.
(f) Place of payment : At the of f ce of the Ci ty
Treasurer in Little Rock, Arkansas, or, at
the option of the holder, at a bank or trust
comrany in the City and State of New York;
(g) Registration privileges; ?,egisterable, at the
option of the holder, as to principal only;
(h) Maturities: On December lst in the amounts
and years as follows:
1937 -
.12 ,000,
1938
151000,
1939 -431
both
inclusive,
209000,
1944 -47,
both
inclusive,
2590009
1948 -51,
both
inclusive,
30,0002
1952 -57,
both
inclusive,
352000,
1958 -60,
both
inclusive,
40,000,
1961 -65,
both
inclusive,
45,000;
(i) Security: payable, as to both Principal and
interest, only from and secured by a first
charge upon the entire income and revenues of
the I'ro ject, remaining after deduction only
for reasonable operation, repair and maintenance
exypenses of the Project,
(2) This offer is conditioned upon the City•s adopt-
ing an Ordinance fixing reasonable and adequate rates to
be charged for the facilities and services afforded by
the Project
UNITED STATES OF Al2RICA
Federal Emergency Administrator
By Horatio B. Iaaekett (Signed)
Assistant Administrator;
be and the same is hereby in all respects accepted.
Section 2. That the said City of Little Rock agrees
to abide by all the Rules and Regulations relatin_, to said loan
and grant, a copy of which -rules and Regulations were annexed to
the Government's offer and _*jade a Part thereof,
Section 3. That the mayor of the City of Little Rock
be and he is hereby authorized and directed forthwith to send to
the Federal emergency Administration of public '*forks three cert-
ified copies of this Resolution and three certified copies of
the 7roceedings of this Council in connection with the adoption
of this resolution, and such further documents and Proofs in
connection with the acceptance of said offer as may be requested
by the Federal Emergency Administration of ?ublic orks,
Section 4. T;? 'REAS, the City of Lithe Rock has no
adequate sewage collection system and pumping stations, inter-
cepting severs, outfall sewers, force mains and appurtenances; and
-�MREAS, a sewage system vitally affects the health and
welfare of the City of Little Rock;
IT IS HEREBY found and declT ed that an emergency exists
for the immediate preservation of the public peace, health and
safety, and this Resolution shall take effect and be in force
from and after its passage and approval in accordance with the
law,
Adopted: Decerr.ber 19th, 1975
At test
amity Clerk.
l:ayor.