1597 4 •
RESOLUTION NO._1597.
A RESOLUTION PROVIDING FOR THE SALE OF CERTAIN WATERWORKS PROP-
ERTY OF THE CITY OF LITTTF ROCK NO LONGER USED OR USEFUL
IN THE WATERWORKS SYSTEM.
WHEREAS, certain waterworks property of the City of
Little Rock, hereinafter described, is no longer used or useful
in connection with the operation and maintenance of the water-
works system; and
WHEREAS, said property is included in the Trust In-
denture dated February 1, 1936, to the Guaranty Trust Company
of New York executed by the City of Little Rock to secure out-
standing bond issues of the City for its waterworks system; and
WHEREAS, said Trust Indenture requires by Section
10 of Article V thereof that real estate no longer used or use-
ful in connection with the maintenance or operation of the
waterworks system may be sold upon declaration by the City
Council that same is not needed or serves no useful purpose in
connection with the operation or maintenace of the waterworks
system: NOW, THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LITTLE ROCK,
ARKANSAS:
Section 1. That the following described property
situated in the City of Little Rock, County of Pulaski and
State of Arkansas , is not further needed and now serves no
useful purpose in connection with the operation and maintenance
of the waterworks system, to-wit:
Lot Two (2) , Block Eleven (11) , Park
View Addition, Pulaski Heights Sec-
' tion to Little Rock,
and the waterworks commission is hereby authorized to sell and
dispose of said property at a price of not less than $250.00
in accordance with the provisions of the Trust Indenture executed
by the City of Little Rock to the Guaranty Trust Company of
New York, dated February 1, 1936, mortgaging the water works
property of the City of Little Rock for the payment of its
water revenue bonds ; the funds derived from said sale shall
be deposited by the commission in the Water Revenue Bonds Fund
of the waterworks system upon the sale of the above property
and the Chairman and Secretary of the Board of Water Works
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Commissioners for the City of Little Rock are hereby
authorized to execute and deliver the deed of the City
conveying said property upon the payment of the purr
chase price fixed in accordance with this resolution.
ADOPTr:D: September 22, 1941 /
Approved. A
May.
Attest
City C erk
AlxxXxix
IWJalguat