2236 RESOLUTION NUMBER 2236
A RESOLUTION ALLOCATING THE SURPLUS AMOUNT OF MONEY
REMAINING AFTER THE PAYMENT OR PROVISION FOR PAY-
MENT OF THE 217 FAIR PARK IMPROVEMENT BONDS WITH ALL
INTEREST THEREON, SAID BONDS HAVING BEEN ISSUED PUR-
SUANT TO ORDINANCE NO. 6000 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 21/27 Fair Park
Improvement Bonds issued pursuant to Ordinance No. 6000 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 the Fair Park Bond 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 $3, 312.43 now remains or
will remain 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,
0 NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS :
_ . a.
SECTION 1. The surplus or excess amounts of money now or hereafter
remaining in the Sinking Fund and Interest Account of the 237.
Fair Park Improvement Bonds, issued under the authority of Ordi-
nance No. 6000 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 equipment for the
recreational facilities of this City or for improvements of
the recreational facilities of this City or for the development
of the recreational facilities of this City.
SECTION 2 . This Resolution shall be in full force and effect from
and after its passage.
ADOPTED: September 15, 1958
APPROVED:
ATTES'1X _ sv✓
City Clerk
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