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RESOLUTION NO. 8,378
A RESOLUTION DISSOLVING "M" STREET
IMPROVEMENT DISTRICT NO. 633
WHEREAS, the Commissioners of M Street Improvement District
No. 633 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 Wastewater
Utility of the City of Little Rock, Arkansas which City 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, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS AS FOLLOWS:
SECTION 1. M Street Improvement District No. 633 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 expenses in winding up the affairs of the District
the above attorneys shall be paid a fee of $2,751.40 from such
surplus funds.
SECTION 4. The remainder of such surplus funds, if any,
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shall be refund* pro rata to the proper#owners who hold title 343
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.
ADOPTED: October 16, 1990
ATTEST:
Am -Z
CI Y CLERK JIME CZECH
AS TO
CITY ATTORNEY
APPROVED: �J
MAY R tLOYD G. VILLINES, III