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 .