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2241 RESOLUTION NUMBER 2241 A RESOLUTION ALLOCATING THE SURPLUS AMOUNT OF MONEY REMAINING IN THE GARBAGE DISPOSAL PLANT BOND FUND ISSUED PURSUANT TO ORDINANCE NO. 9746 OF THE ORDI- NANCES 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 Garbage Disposal Plant Bonds issued pursuant to Ordinance No. 9746 of the Ordi- nances of the City of Little Rock, Arkansas; and, WHEREAS, said bonds were sold for the purpose of originating funds with which to acquire sites for and equipping garbage dis- posal plants ; and, WHEREAS, the City has now acquired the sites needed and equipped the garbage disposal plants contemplated in said Ordinance No. 9746; 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 Garbage Disposal Plant 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, 500.00 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, M \ 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 : SECTION 1. The surplus or excess amounts of money now or hereafter remaining in the Garbage Disposal Plant Bond Fund from the pro- ceeds of the bonds issued under the authority of Ordinance No. 9746 of the Ordinances of the City of Little Rock, Arkansas, IS HEREBY ALLOCATED AND DEDICATED for use for the purpose of such additional garbage disposal equipment as may be now or hereafter needed. SECTION 2. This Resolution shall be in full force and effect from and after its passage. ADOPTED: 4c.tebsr 6, 1958 APPROVED: a or ATTEST: City Clerk - 2 -