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1952 RESOLUTION NO. 1952 A RESOLUTION ACCEPTING A BID FOR BONDS TO BE ISSUED BY THE CITY OF LITTLE ROCK, ARKANSAS, FOR THE PURPOSE OF PJRCHASING AND HOUSING FIRE-FIGHTING APPARATUS AND FIRE-ALARM SYSTEMS; AND FOR OTHER PURPOSES . WHEREAS, the electors of the City of Little Rock, Arkansas, at the general election held on November 4, 1952, authorized the issuance of '`'590, 000 in ad valorem tax bonds under authority of Amendment No. 13 to the Constitution of the State of Arkansas for the purpose of purchasing and housing fire-firhtinr apparatus and fire alarm systems ; and WHEREAS, notice of the sale of the proposed bonds was given by publication in the Irkansas Gazette once a week for four weeks beginning January 2, 1953, and the notice was also published in The 'Weekly Bond Buyer, a financial journal published in 1 ew York, New York, and the proofs of both publications are now on file with the City Clerk; and WHEREAS, this is the time and place set for the public sale of said bonds , and at this sale the best and highest bid for the bond issue was made by Hill, Crawford and Lanford, Inc . , Southern Securities Corporation, :lomeldorff and Lindsey, and W. R. Bass and Company of Little Rock, Arkansas, who bid a price of °592,321...00 for bonds bearing interest at the rate of 2 3/4 per centum per annum, for bonds due in per annum the years 1956 to 1961 , both inclusive, and 2 per centum/for bonds due in the years 1965 to 1968, both inclusive, plus accrued interest to date of delivery, and the highest bidder has complied with all of the terms of the notice of the sale of the bonds , including the filing of a certified good faith check; and WHEREAS , the City Council of the City of Little Rock hereby finds and declares that the price bid is a fair price for the bonds , is at an interest rate and price allowed by law, and that it is to the best interests of the City to accept the offered bid; NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Little Rock, Arkansas : SECTION 1. That the City Council does hereby accept the bid of Hill, Crawford and Lanford, Inc . , Southern Securities Corporation, :omeldorff and Lindsey, and ,i. R. Bass and Company, for the purchase of '590,000 City of Little Rock Fire Apparatus and Fire Station Bonds of 1953, being a price of 592,324.00 for bonds bearing interest at the rate of 2 3/4 per centum per annum, for bonds due in the years per annum 1R56 to 1964, both inclusive, and 2 per centum/for bonds due in the years 1965 to 1968, both inclusive, plus accrued interest to date of delivery; and said bonds are hereby sold to said high bidder. SECTION 2 . That the Food faith check of the successful bidder be held pending the delivery of the bonds . SECTION 3 . That the City Council hereby ascertains and declares that there is an actual need for the fire-fighting apparatus and fire alarm systems for which the bonds are to be issued, and this resolution, being necessary for the preservation of the public peace, health and safety, shall be in full force and effect immediately upon its adoption. ADOPTED: January 26, 1953. ATTEST : APPROVED : ity Clerk. .iayor .