1358RESOLUTION No. 1
A RESOLUTIOiN PROVIDING FOR THE CONFIRbLATION OF
THE SALE OF $4,0900000 OF' VVATER REVENUE BONDS
OF THE CITY OF LITTLE ROCK, ARK NSAS.
hHEREAS, The aayor of the City of Little Rock,
Pulaski County, Arkansas, by and with the approval of the
Public Utilities Committee of the City Council, did
accept a proposal of Bancamerica -Blair Corporation and
Strana.han, Harris & Company, Inc., for the sale of $4,090,000
of crater revenue bonds of the City of Little Rock, Arkansas,
at and for a price of $973.00 plus accrued interest for
each $1,000 bond, said mayor acting under authority of the
City Council duly granted to the Mayor by Resolution No.
1330 passed by the City Council on the 9th day of
Aril, 1935; and
HEREAS, it is desired to specifically confirm and
ratify such action of the Mayor and approve the particular sale
of said bonds at and for the Trice and terms of sale: NOS, TF- EREEORE;
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF LIT'T'LE nOCL, ARriuA::
That the sale of x,4,090,000 of water revenue bonds
of the City of Little hock, Arkansas, to Bancamerica -Blair
Corporation and Strana.han, Harris & Company, Inc., at and
for the sum and ?rice of $973.00 and accrued interest for
each '1,000 bond bearing interest at the rate of four per
per annum be and the same is hereby ratified and con-
firmed, said contract being in words and figures as follows,
to -wit:
f
Nev toric CilWo
isin-w,try -4-9 1936.
i
TO twoo *00"r and countil of tho
City of Little Hoc k# Arkpni-mal
Thia lotter will corrin ou at.':V-;IfM*3 tO YOu
t'toy -with referenco to thn propoebl 'we tmbn4tt,4d YaOtOr-
ok;
day ror t?io >iurcb am" o-'r wntsr rovenue bonda.
An 10<udlt at rla* & V,*torlwuse substputiullY aor-
roboralkg tho zta
te�tqzts you hove previously furvin,'hWl uv
fl,g to t�-- t g I VO elk
disburaw.,enta oc, v,s� existine � t -
rsymt(w�� ,,, �L I A - ro
-,* -i -J. 4, srtjst�y, lte;�� (b) *af h (5) 0 ou- , -
"Oral.
$,-,a f your Yr.tr-
in vie% of tho fKat VUA t1he ` 0 o o
work.--i erAlueeery gill not be paid out of the -?rooeeda Of V,
bonds to be lwnued for tr=e ?4Op!U1F.1t1,On'04" tbe existing Sys-
ter, nua tjw-t ��,Zjpe & Uatp.rj�*Ou,6e 114uvo for yeer-s :.�iede
uuclt.�;� for the, ili:xter -�,h 03) Of Vne proponal
41 ,
, F, I! reed us followss
V--.��t the� Ity W11,
t n jtc� u to perfora the lei
nervicea set rorth mboyeo inciudine
;)rev-ret1ci- of
oralirmance Find t.vuut Indentures, end %,13.1 po.r for
5uo--, service a 04t 0 VI-R bO
tI,jj,4,t t:=c. City jjj out of t•. bo-."U- -. raceod&
t tbr, tS-110t 'Inderiture And
in Vie bl��vk- bonda, the tc-Aal nm-ount t, be � -*
not to oxoeoci vho,Sum of 4z000i)."
rs
1.77
New York city,
i4brwn-i-y Zj,
'"o the —eyor und Couucll ot tl-r-,
1 44
City or Little --iock# 4rktnzas:
It !.'u our unkaeretar.u"' Ing,
(t) T you Nive entered into zir %gre-e-;',ant 1ith
tree m�-rqor of Yii vttervork& oysme-,1 not 3orying the C v
tbo i — hc - A
purom.se or ucid zy5ton at )rice ol", *"v#850#000;
(b) 71Wt you trve antered Into tin agroto.v-;.Ont ��itb
lkz for, 0.
tie yederal -vaerggetrvey AdrArAstri-tion oT or
loan an6 great for conatimetine o rose rvoirl, au�iply _� ,'einv
unra ovhanr imps , mveuo tit a necessary to rurrieb to the city t
nevZ zlou-60f- OZ,
(o) T'I'Ant Vw nativ..ttod east of vv•'7 construction
t Vii 144oral Aomer . -ministration
0-4 thn 00st <:r the
ol' -w ubliv- =kO 1� C"
ltbor and matorials WnploYed UPOVI *Uc'-. construction P-nd will
'jurchose 4$ bond:: vAt per to:, tho re-mainder of the cost;
(4) T you propose to Jusue veter ravenur, bonds
of the City ro,1- tie purpose of aequiring ttie exiating z7vtW.,
erd of. coni;txruotlng. tte nboar e : - -nntlonPd VAPMvf:Zf-nt4'; end
(e) Tl-nht all ol" the vtetpr rov&r.uR- bonds to, be llaaued
,O- such &*quj,,:jtjon ore. construct inn be e-:�unlly e0curod
by t..-ur�t indepture, inn heroinafter -pravi4ed, end aarch bonds
&hall b", Of a f ft #�zt>O`Ur4t o-u" ficlent, tt vr* ,,urcheao to
be paid to V4e, pity, together with the rart to, be rocelvid
'Oedffta z'"argercy 4*d" inistri--tion of -eublic o7-kFI, to
frolt tie 4 V
11(ty VIM costa VUch
O:t auc*h construotion
&C41 Clio
gin*"rinC, end logr, expe
J. r _,s#6 ott-,Or Ox
Pomseg n0009JArY to the 'Urfmcing qereln contw%:41ated vm;6; to
vueh norutaltion end oonstruction.
I* tlierefore -proposo, subji6ot tea th€, o-v%oln, and
to N141 of the teme atd con�ltton6 heralnefter -et. f-VIIN to
retie a rrO.-% tr O CitY Of A►ittle "rank' suoh amount c f s tar
-Ievenue bcnd3 of- vis� k;itf an ruY bo naceazt v.ry to acrjui�-e v
suc; bonde to be. of thm ty,-_r. on,-' chtrecter
aml to be _,ricured in tic nnor herelvastar nai :,4 Zvn.
A11 01"' mf;4d water revenup h-contirt -hp-11 b� uvteC
bcw.r Jr.terest tt, tiv� rnV� of 4,�,
eznwo tmyablo nemlennurilly, anell be Isaned in the d#nOz11in-t_
tion 0 f 4190001 rtpf;
-,-rture Sn a,-Dur-1 r-pries bfte
,,ft.-Ing
thre.,,, yo&rs rrsr ending rorty Yerrs rrc�;z iir__te tho bond*
so that t sum of thf, priixei;?nl t-;ad intorant -psyrb"lo in eve"m of
such ye ra # 11 be ar, n*arly, Pquul ev $.racticoblo. Ttt- ,�rjroj-
;-�-1 tird tnterest of the bonds stinl! be payr�ble et t bv�r_', or
trust co�gmnr In the City of Nov YO,-k. Vie bonds shr_-1_1 be z4ub-
ject to rmglstrction in the name of the holdor or,
clone.
Thar bon ztll be Issued un #r tte -proviaiont
0 A-p ,Ot 1U of the .lid :f *ilctz 0-1;', 'Wricenauffs but" *�0ts 11riondatory
t'hersof RU4 $ur ;lementftl t"- �roto, mr. the bond-In 1,t'*-.p:ii be p"yable
solely lfm., tho revonu-i dorlvei� , ro the v, t+ ayvtf,*_- so
aoquired- tind be secured by n trust
f,3-
1
Indentu.re to bo oxecuted bj w
tk. beV- eer, tte City 0- Ljttjn
!lock on one hone,* tkmd, r, bttk o - V, Ist bu!rrt-
ness Ir. the City ot not,
lorX or &41nt Louis,
ber of tho iotderel i4eservo 4stea,, Ms lrwitoe on tho otlhor#
wbidh trust, inden'l-urea rhp-11 covtain, such provisions t�n� cove-
nPuts fol- p-1-oteeting end enforcing the rights an c, revedlots of
the taste arcs tho bondholders *4 moy be cormistent with t1he
t0r:,'s of Raid i'Lot 1'41 and a,% bi) fire d u unler-
pot by the
34mod and 4�ergsncy Aaqi istrttion o,.r Publie
( *11 lh J. e . -our kor muo tea of wrtior -revpru- Nook' e, *or.-
Sistine, 0�,� f, pro.,Ortion�-��to Ile 4 1 j
rt or tho tion,.�s oe op
as zjy be nf.�Cerufhf.ry 'et the 'Ptce to be 7irid to tho.
City to PAY thO 000t Of 6Cq,ui4 Ln*?, PlAyrttelY 0g-,Med vigter.
,ieor42 Vstoa mv. Aerving Vie City Ord c,11
to 3uoh finencinfr ;,sm-1 v-) > -iueh tot utriltion, vv-,, r:111 p*y
Nine hundred seventy-three and no/100 Dollars
per "W-190,10 twond an corued interest, And wil'Ll !!Qc#-*t delivery,
cud � t_Acv pey-elmt thereto-v u st bank o.- truet 00- 4� my in -re & e-
w
i
fork (;ity to be speoified by w . aubjAot to cill conaltionA of
'Z.� I .
tblS �i 0 %Osetl '-M- to t1warty days provious rotiae to
U..; tit Gu - Ofice In i*ow roe city.
(4) Op stfill not be reczuirad to taee:,it acrd pcy for
my weter -Irevenue bona zi uncer trio toruaft of %hi p*eell
(n) Unlf-os Ity, Apnourl,,
or not Mier .,,,atervorks wgireeftr., firm approvod by un d
by the ioder-1 iVency 14cm-iiniptar-fttlon o-r °.a*Azs
#4-
ehnll havo ommined the exintirig tO be fequired
Rnd shtIl lv'-�Ve 6P?--IOVOd the Condition t'o-I'mor and the
,,vice to be pcid therefor.
(b) iniess certified public &OOojjpttnts sttisfactory
to w'7 Ilu;ya �:Jxdo an oudit coverin-g ell raceintu "nd
the Ox �-Ing .may r
t ot!ch ol' VIO le -3t,
'm" by la'-q 4
rov
tive yer-r3. niietll be t
(e) Untii Viere s�-,eUAI bo c ingt.1 cort-10.0t or cirtornotat
tjp.'Pr�)Vea by
qhgjj not Gc bond chmmaels Vor V149 'aurchr'-60 Ot'
Ing" �Y'Afnz EXA-6 for t "m am'ulvdtlon o.�' s'-11 neco*ac rights -
-1 .'
Oi way, eaf..ovr4f#nts erd otll o"now -p---O-perty rea-
to t o o 11'' `
peratior. of VhV& 1ftOr'Pl#'tf-'d -Y"Ori;
(d) U:rIArfy,, ban:.. e 0 U 118 e 1 SN4, .11 VP?. M V -I
(1) The volVlitY
and direetars of etch oo.r-Oforettor 'revir.; or o"Ang, Pift
interest In VVe fl-AIVAinK
0 4 the ex tip* °.Yfitw- 0, its Intel* *s t th e in
T"t deed ag. deeds Convpying t*'A exi2ting nygteM
End the title to, be by the CitY-
wr
,
��,Oyvtnue bonds to be
(3) VAe viklit-ItY. te-
anct delivered to ua tmdk t' ,e ordin-noe enci trust
Indenture t -tier to the
�,pc f,11 other in role
WOW
'bonc,�q and
Uuth0-_A%vtj*n cud jssucnoe of
rev#UU4 "�-Ovtjv to be
%he
ch&zs6, by W, g�1611 t-:Ipn be roodY I'Or i1-0'1v0rY*
land-travlod thott t' City �-,1111 retrin $*1d
30t forth
-u
a jue V1 knc" "Ind t' at
above in
p for gy corvioaa out of teat proccmiis
f th u t and thet a City will
'100 r-y out Q+, thp bond
oe bo,'r4
the cost of V_jntjjj4,, tht trust jDdenture and prepar-
.
Ing t*."m blunk bontes th,,� fee* o r of t
j _-,Idert
r
CO.-tt'.116d publil_,� t;0(,.o_ur.tintxl fvm- Oth-f- r ItO�4
to auch er�_i const;,1ruction Md Is"cnce of tho
bon,68.
bide rAt*Od that $Uch pr0000dings v%4 I L
.er in
-ity %,0UUcjj be neces,)ary cnd
by
t'l-,* 0"Anioz, Q:- 4tid bond WUUsOl fo-, the aut-arizatiol-4 tnd
rryirwl Out 0, the for e, 0f t'-,Ia a rfarg If c-, 00OPtOd 5
L I _' tt
g"Y be prratjc,�-blo. fl"tuat" Ons
ter
the 10i ut
"
for 'bonds, Ir. ty-`0 t"" LA'
t
raven.UO bonds enc b: ctuaft UD c Ort' "x
v r a 0 r t to, V. s t It i Underst
or t ft bei '. a n. t t Lei fives v
actin... be by th-,,i "'i"'Y
be ::1040 r4otw lvter
be extended by un
3. U;�On tfl--:1ne ;rn4 Ing *r-t
wo 9,�vAjj right
qui -lie eyj��, ,Ang,
boud's to 0 l-
fog. : : riyo thereafter to u,.rt° vm r, t
--
,I - p
r aw accruea intarelst t& the -t
Indar o � , v -,
I
bor—s to be Is:-UlPd- ts -horeinobove set 'orth,
'we roberv^ st ti!,
to its 6coi6puncov
U*SPOQ lly -mu 'r-nitte-as
CO
MY
for going propoval ir- 4U17 Vccwjt ,d by tfnp
'ity or wit 10 A0,.", I --Z by rewlution duly tt400tod OY:
Aaoi?t24: F¢bywol lo. /lak,
APPROVE • y 1
Mayor
RECORDED:
ATTES
City Clerk
(Seal)
City Clerk