HomeMy WebLinkAbout8030RESOLUTION NO. 3,030 4 2 3
RESOLUTION DISSOLVING DISTRICT
WHEREAS, the Commissioners of the Annex No. 2 to Street
Improvement District No. 606 of Little Rock, Arkansas, (the
"District ") have determined that all bonds, notes or other
evidences of indebtedness, plus all interest thereon, have been
paid in full; and
WHEREAS, said Commissioners have further determined that
the District has fully accomplished the purposes for which it
was formed and has fully completed the construction of the
improvements which it has undertaken; and
WHEREAS, title to and control of the facilities constructed
by the District have been taken over and assumed by the City of
Little Rock, Arkansas which formed the District; and
WHEREAS, said Commissioners have adopted a resolution to
wind up the affairs of the District and cause the District to be
dissolved according to the provisions of the laws of the State
of Arkansas; and
WHEREAS, said Commissioners have requested the Board of
Directors of the City of Little Rock, Arkansas, to adopt a
resolution confirming the resolution of the said Commissioners
and granting the approval of the City Board for the dissolution
of the District;
NOW, THEREFOR, BE IT RESOLVED by the Board of Directors of
the City of Little Rock, Arkansas as follows:
Section 1. The Annex No. 2 to Street Improvement District
No. 606 of Little Rock, Arkansas, has been dissolved by
unanimous vote of the Commissioners of said District in
accordance with Arkansas law.
Section 2. All future levies and assessments of the
District have been cancelled and the Commissioners are hereby
relieved from further duties.
Section 3. The law firm of Wright, Lindsey & Jennings,
attorneys to the District, is hereby authorized and directed to
convert all assets of the District into cash and thereafter to
pay all debts of the District from such surplus funds; and for
such services and for other services and expenses in winding up
the affairs of the District the above attorneys shall be paid a
fee of approximately $861.91 from such surplus funds. The
District's funds are deposited at Union National Bank of Little
Rock in checking account No. 79481604. Union National Bank of
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Little Rock is hereby authorized and directed to pay the
proceeds of this account to Wright, Lindsey & Jennings Law Firm.
Section 4. The remainder of such surplus funds, if any,
shall be refunded, pro rata to the property owners who hold
title to the property in the District at the time the refund is
made. Said refund shall be made on the basis of the most recent
assessment or reassessment of benefits on the parcel or parcels
of property prior to dissolution, and shall be on the same
proportion that the assessed benefits of each individual parcel
of property bears to the total of the assessed benefits of all
the property in the District, except that no property owner
whose property is delinquent in any sum for District assessments
shall be counted in calculating the refund amount, or receive
any portion of such refund.
DATED this 18th day of October, 1988.
ATTEST:
0021G
-2-
CITY OF LITTLE ROCK, ARKANSAS
APPROVED:
M o Lottie Shack ford