1606 • •
RESOLUTION NO. 1606
A RESOLUTION ACCEPTING A BID FOR BONDS TO BE ISSUED BY THE
CITY OF LITTLE ROCK , ARKANSAS , BEING $25 ,000. 00 REi• AIMING
UNISSUED OF A TOTAL OF $50 ,000.00 AUTHORIZED AT THE GENERAL
ELECTION HELD IN THE CITY OF LITTLE ROCK ON APRIL 2 , 1940 ,
FOR THE PURPOSE OF PUh.CHASING FIRE FIGHTING APPARATUS ,
CONSTRUCTION OF BUILDINGS FOR THE HOUSING OF FIRE FIGHTING
APPARATUS AND MAKING ADDITIONS TO EXISTING BUILDINGS FOR
THE HOUSING OF F I'rE FIGHTING APPARATUS.
WHEREAS , after due advertisement for the time and in
the manner required by law, duly published in a newspaper having
a bona fide circulation in the City of Little Rock , $25 ,000. 00
remaining unissued of a total of $50,000. 00 authorized at the
general election held in the City of Little Rock on April 2 , 1940 ,
for the purpose of purchasing fire fighting apparatus , construction
of buildin:°s for the housing of fire fighting apparatus and making
additions to existing buildings for the housing of fire fighting
apparatus were offered for sale on sealed bids , at a meeting of
the City Council , at S o ' clock P. h. , on the Sth day of December,
1941; and
WHEREAS , the Council finds that the bid of W. B. Worthen
Company , Bankers , of 102. 27 cents on the dollar and accrued
interest to date of delivery for $25 ,000 of bonds bearing interest
at the rate of two (2%) per cent is the best bid;
NOW , THEREFORE , BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF LITTLE ROCK , ARKANSAS:
SECTION 1. That said bid of W. B. Worti.en Company ,
Bankers , be accepted , and that the Irayor and City Clerk be end
are hereby authorized to execute on behalf of the City the follow-
ing contract for the sale of said bonds:
"December S, 1941
The City Council of Little Rock ,
Little Rock , Arkansas.
Gentlemen:
For the TWENTY-FIVE THOUSAND and no/100 ( 25 ,000. 00)
FIRE APPARATUS AND FIRE STATION BONDS of the CITY OF LITTLE ROCK ,
ARKANSAS , to be dated March 1 , 1941 , maturing $9 ,000. 00 on March
let in each of the years , 1945 to 1949, inclusive , without option
of prior payment , and as more fully described by your official
prospectus , we submit the following bids :
For bonds bearing 2% interest , we bid you at the rate
of One Hundred and Two end 27/100* * * * *DOLLAE S r102. 27)
)
per-1100. 00 par value thereof;
For bonds bearing 3% interest , we bid you at the rate
of * * -t ;, One Hundred and Six and 51/100 * * DOLL ARS ( 1;106. 51)
per ?1075. 00 par value thereof; -
plus accrued interest to date of delivery. Bonds to be delivered
to us on or before Jan. 15 , 1942 ; or thereafter at our option.
This bid is for immediate acceptance and is subject to
the regularity and legality of the issue being approved uncondition-
ally by Messrs. Rose , Loughborough, Dobyns and House. It is
understood that the cost of this opinion , together 17ith the other
expenses incident to the issue , will be borne by the City.
s evidence of our good faith, we attach hereto our
Cashier' s Check for 750. 00 , to be liquidated damages if ,r'e fail
to make good our bid , and to be applied to the purchase price if
”re are the successful bidder. Otherwise , to be returned to us.
Respectfully submitted. this 8th day of December , 1941.
W. B. WORTHEN COIaiP tNY , BANKERS
By J. G. Potts
•
The above and foregoing offer on the 2% bonds is accepted for and
on behalf of the City of Little Rock , Arkansas , this 8th day of
December , 1941 , and the receipt of the hereinabove mentioned check
for x$750. 00 is hereby acknowledged.
CITY OF LITTLE FCCK , ARKANSAS
By Mayor
By City Clerk. "
SECTION 2. It is ascertained and hereby declared that
the prompt 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 are essential to the public safety , and that by reason of
the Present economic conditions , many citizens of the City are out
of work , and the irnorovenent herein provided would furnish work for
a large number of men and thereb; add to the peace and happiness of
the City. It is , therefore, declared that an emergency exists , that
this Resolution is necessary for the immediate preserv-,-tion of the
public peace, health and safety , and that this Resolution shall
take effect and be in force from and after its adoption.
ADOPTED: December S, 1941.
ATTEST : A OVEDf
City Clerk. Ma .r.