1657 ' ' RESOLUTION NO. 16-57
4 '� A RESOLUTION APPOINTING, AUTHORIZING AND DIRECT-
ING A COMMITTEE TO NEGOTIATE. WITH THE ARKANSAS
LOUISIANA GAS COMPANY AND THE CITIES SERVICE COM-
PANY LOOKING TO THE PURCHASE OF THE GAS DISTRIBU-
TION SYSTEM IN THE CITY OF LITTLE ROCK AND FOR
DETERMINING THE FEASIBILITY OF ISSUING AND SELLING
BONDS FOR THE PURCHASE THEREOF.
WHEREAS, It 'is believed that the municipal ownership and
operation of the gas distribution system in the City of Little Rock would
result in great savings to the consumers of gas in said City; and
WHEREAS, Due to the holding of the Security Exchange Com-
mission as embodied in its "Findings and Opinion"' released for publica-
tion on May 6, 1944, IN THE MATTER OF CITIES SERVICE COMPANY AND ITS SUB-
SIDIARY COMPANIES, The Arkansas Louisiana Gas Company may desire to dispose
of such gas distribution system; and
WHEREAS, Act 324 of the Acts of the General Assembly of the
State of Arkansas for 1935 provides that a municipality may purchase the
gas distribution system within its borders subject to the provisions of laws
applicable thereto:
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City
of Little Rock, Arkansas:
SECTION 1. That the Mayor (or in the absence of the Mayor,
the acting Mayor) of the City be and he is hereby authorized and requested
to appoint a special committee of Five (5) members from the City Council to
investigate and negotiate with the Arkansas. Louisiana Gas Company and the
Cities Service Company for the purpose of ascertaining the desirability of
purchasing such gas distribution system and to further investigate the
feasibility of issuing and selling bonds with which to raise money for the
purchase thereof.
SECTION 2. That said committee proceed promptly with its in-
ings
vestigation following its appointment and report its find/ and recommendations
to the City Council for its further consideration and action.
SECTION 3. That this Resolution shall be in force and effect
from and after its passage. Approv d;
Acting Mayor �
Adopted:
_ Jude 1 , 1944
Attest:
City Clerk