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RESOLUTION NUMBER 2235
A RESOLUTION ALLOCATING THE SURPLUS AMOUNT OF MONEY
REMAINING AFTER THE PAYMENT OR PROVISION FOR PAY-
MENT OF THE 5% AIRPORT, HOSPITAL AND FIRE EQUIPMENT
BONDS of 1929, WITH ALL INTEREST THEREON, SAID BONDS
HAVING BEEN ISSUED PURSUANT TO ORDINANCE NO. 4497 AS
AMENDED BY ORDINANCE NO. 4498 OF THE ORDINANCES OF THE
CITY OF LITTLE ROCK, ARKANSAS AND FOR OTHER PURPOSES
WHEREAS, the City of Little Rock, Arkansas, has heretofore
issued and sold for value various bonds known as 5% Airport,
Hospital and Fire Equipment Bonds of 1929 issued pursuant to
Ordinance No. 4497 as amended by Ordinance No. 4498 of the
Ordinances of the City of Little Rock, Arkansas ; and,
WHEREAS, the City of Little Rock has levied a tax for the
purpose of paying said bonds and interest thereon, and placed the
revenues therefrom in a Sinking Fund and Interest Account, known
as 5% Sinking Fund; and,
WHEREAS, said bonds with interest thereon have now been paid
in full or the City of Little Rock has deposited in an escrow
account an amount of money completely sufficient to pay in their
entirety said bonds with interest thereon through the maturity
date of said bonds ; and,
WHEREAS, the sum of approximately $28, 791.70 now remains in
the Sinking Fund and Interest Account of said. bonds (after placing
in said escrow account enough money to pay in their entirety said
bonds with interest due thereon through their maturity date) ; and,
WHEREAS, the cost of refunding said amount of money will exceed
the amount to be refunded; and,
WHEREAS, the said excess or surplus amount should now be used
for proper municipal purposes,
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS :
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SECTION 1. The surplus or excess amounts of money now or hereafter
remaining in the Sinking Fund and Interest Account of the 5% Air-
port, Hospital and Fire Equipment Bonds of 1929, issued under the
authority of Ordinance No. 4497 as amended by Ordinance No. 4498
of the Ordinances of the City of Little Rock, Arkansas (remaining after
the retention in said. Fund or the placing in escrow of sufficient
money to pay all of said bonds, in their entirety, with interest
due thereon through maturity) IS HEREBY ALLOCATED AND DEDICATED
for use, so far as said sum of money may extend, to the purchase
of a site and the construction and equipping of a fire station
thereon and the purchasing of fire fighting apparatus therefor
to serve and protect that area in the City of Little Rock known
as Meadowcliff and adjacent areas .
SECTION 2 . This Resolution shall be in full force and effect from
and after its passage.
ADOPTED: September 15, 1958
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APPROVED:
ayor
ATTEST aK . I ceJ
City Clerk
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