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2345 • ; - RESOLUTION NO. 2345 A RESOLUTION ACCEPTING A BID FOR GENERAL OBLIGATION VARIOUS PURPOSE BONDS TO BE ISSUED BY THE CITY OF LITTLE ROCK, ARKANSAS WHEREAS, after due advertisemnt for the time and in the manner required by law, duly published in a newspaper having a bona fide circulation in the City of Little Rock, a proof of publication thereof having been filed in the office of the City Clerk of the City of Little Rock, and after advertisement in The Bond Buyer, a proof of publication thereof having been filed, also, in the office of the City Clerk of the City of Little Rock, $1, 650,000 of bonds of the said City as follows: $300, 000 for the acquisition of right--of-way for con- struction of public streets, alleys, and boulevards; $500, 000 for the construction of, widening, or straightening of streets, alleys and boulevards; $200, 000 for the purchase , development and improvement of public parks and flying fields; $600, 000 for the purchase of sites for, construction of, and equipment of City Hall, Auditorium and Prison; $ 50, 000 for buildings for the housing of fire—fighting apparatus, were offered for sale on sealed bids at a meeting of the Board of Directors, in the Board of Directors ' Chambers, at the City Hall, at 11:00 o ' clock, A.M. , Central Standard Time, on the 18th day of May, 1959, and the following bid was received: Board of Directors City of Little Rock, Arkansas Dear Sirs: We hereby bid you par and accrued interest for your $1,650,000 general obligation bonds dated December 1, 1958 and maturing in 1962 to 1986, inclusive. The bonds are to have three separate rates of interest with a net interest cost to the City of 3.849660%. This bid will comply with all provisions of the Notice of Sale which is hereby made a part of this contract. We agree to pay the cost of approving attorneys and the cost of authenticating the bonds while you agree to pay the cost of printing the bonds. We attach herewith our certified check in the amount of $33,000.00 to be held under the terms of said official Notice of Sale. Respectfully submitted, RAN.EY INVESTMENT COMPANY, INC . BY F. R. Thurmond STEPHENS, INC . BY W. R. S. ACCEPTED THIS 18th DAY OF MAY, 1959. BOARD OF DIRECTORS CITY OF LITTLE ROCK, ARKANSAS BY Mayor BY City Clerk r J • • and WHEREAS, the Board of Directors finds that the said bid is responsive to the notice of sale, except that the bidder agrees to pay the fees of the approving attorneys and the cost of authenticating the bonds, and that the bid should be accepted; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF LITTLE ROCK: SECTION 1. That the said bid of Raney Investment Compaq, Inc. and Stephens, Inc. be and is hereby accepted, and that the Mayor and City Clerk be, and they are hereby authorized and directed to execute on behalf of the City the following acceptance of the bidder' s offer for the said bonds: ACCEPTED THIS 18th DAY OF MAY, 1959. BOARD OF DIRECTORS CITY OF LITTLE ROCK By: W. C . Knoop, Mayor By: Pauline G. Beeson, City Clerk SECTION 2. It is hereby ascertained and declared that there is an immediate and urgent need for the construction or acquisition. of the various municipal projects to be financed by the sale of the bonds herein sold in order to protect the health, lives and property of the inhabitants of the City of Little Rock, Arkansas. It is, therefore, declared that an emergency exists and this Resolution, being necessary for the preservation of the public peace, health and safety, shall take effect and be in force immediately upon and after its adoption. ADOPTFP: May J , 1959 ATTEST: APPROVED: i2 ' City Clerk Mayor