1605 .
RESOLUTION NO. 1605
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
LITTLE ROCK, ARKANSAS:
Section 1. That Section 1 of Resolution No. 1b04,
adopted on the 20th day of October, 1541, be and it is hereby
amended to substitute for the form of the notice therein set
out the following:
NOTICE OF BOND SALE BY THE CITY
OF LITTLE ROCK, ARKANSAS
Notice is hereby given that the City of Little Rock,
Arkansas, will offer for sale for cash to the highest bidder
on sealed aids to be opened at a meeting cf the City Council
in the Council Chamber in the City Hall, Little Rock, Arkansas,
at 8 o ' clock P. M. on the 8th day of December, 1941, 425 ,000 of
improvement bonds issued for the purpose of the purchase of fire
fighting apparatus, construction of buildings for the housing of
fire fighting apparatus and making additions to existing buildings
for the housing of fire fighting apparatus, to be dated as cf
,arch 1 , 1941, to be in denominations of 41000. 00 each, to bear
interest from September 1, 1541, the first coupon payable ,.arch 1,
1943 and semiannually thereafter on September 1 and march 1 of each
year, and to mature without option or prior payment on :..arch 1 in
the years and amounts as follows:
45000 in the year 1945
45000 in the year 1940
45000 in the year 1947
45000 in the year 1948
45000 in the year 1949
Alternate bids will be received for bonds bearing
interest at the rate of 2 per cent per annum and at the rate of
3 per cent per annum. The bonds will not be sold for less than
par and accrued interest on a basis of bonds bearing 3 per cent
interest. The privilege of converting the bonds will not be
allowed.
r • .- r
Sealed bids will be received by the City Clerk at
the City Hall in the City of Little Rock, Arkansas, up to
8 P. u . on the day of the sale.
The bonds will be issued under authority of Amendment
No . 13 to the Constitution of Arkansas, a large majority of the
qualified electors having voted in favor of their issuance .
They will be general obligation bonds of the City of Little Rock,
Arkansas, and will be secured by a special continuing tax levy
sufficient to pay the principal and interest and provide for a
safe margin of security.
The City will furnish the printed bonds and the
opinion of ,..essrs. Rose, Loughoorough, Dobyns & House, Attorneys,
Little lock, Arkansas, approving their legality .
The City reserves the right to reject any or all bids.
Bids shall be accompanied by certified check for 4750. 00, payable
to the City, to be its liquidated damages if the bidder fails to
make good his bid, and to be applied to the purchase price if he
gets the bonds , otherwise to be returned.
This 3rd day of November, 1941.
CITY OF LITTLE RUCK
By
AdAYOR
ATTEST :
CITY CLr;:-itt.
44ection 2. it is ascertained and hereby declared
that the prompt purchase of fire fighting apparatus and the
construction of additional buildings for housing of fire
fighting apparatus are essential to the public safety. It
is , therefore , declared that an emergency exists, that this
resolution is necessary for the immediate preservation of the
public peace , health and safety , and that this resolution shall
take effect and oe in force from and after its adoption.
ADUPTr;D: ivovember 3rd, 1941
ATTEST : APP E►.
. 6 . ! Ce
City Clerk ...uyor
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