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ORDINANCE NO. 15,062
0
AN ORDINANCE REASSESSING THE BENEFITS
TO BE RECEIVED BY THE OWNER OF SEVERAL
OF THE LOTS, BLOCKS AND PARCELS OF
LAND WITHIN RIVERDALE LEVEE IMPROVEMENT
DISTRICT NO. 134 OF LITTLE ROCK, ARKANSAS
WHEREAS, the Board of Commissioners of Riverdale
Levee Improvement District No. 134 of Little Rock, Arkansas,
has determined that certain improvements to the levee and
drainage facilities of the District are necessary in order to
provide the continued protection and benefits of the original
improvements of the District and that the District's
outstanding Bonds should be refunded, in order to take
advantage of interest savings, and pursuant to law, the
commissioners have determined that a reassessment of benefits
should be made in order to finance said improvements and have
required the Assessors of said District to revise the
assessments of the District and that the cost thereof be
reassessed upon the real property in said District according
to the benefits received; and
WHEREAS, said benefits received by each and every
lot, block and parcel of real property situated in said
District equal or exceed the local reassessment thereon; and
WHEREAS, the estimated cost of said improvements is
$535,000 and the amount of outstanding bonds to be refunded is
$520,000;
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NOW, THEREFORE, BE IT ORDAINED by the Board of
Directors of the City of Little Rock, Arkansas:
Section 1: That the lots, blocks and parcels of real
property in Riverdale Levee Improvement District No. 134 of
Little Rock, Arkansas, as described in the reassessment list
filed February 18, 1986, with the City Clerk, be reassessed
according to the reassessment list as the same now remains, or
may hereafter be changed in the office of the City Clerk, and
that $122,105 of the reassessment of each of said lots, blocks
and parcels described in such reassessment list shall be
collected by the County Collector with the first installment
of the general taxes becoming due in 1987, and $122,105 of the
reassessment (or such amount as increased by the District's
assessors) shall be collected annually thereafter with the
first installment of the general taxes until the District's
1986 Series B Improvement Bonds shall be paid at maturity or
earlier redeemed.
Section 2: That it is hereby ascertained and
declared that the Improvements must be accomplished as soon as
possible in order to alleviate immediate hazards to the
health, safety and welfare of the District, its inhabitants
and their property, and that the Improvements can be
accomplished only by the issuance of the bonds. It is,
therefore, declared that an emergency exists and this
Ordinance being necessary for the immediate preservation of
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the public peace, health and safety shall take effect and be
enforced from and after its passage.
PASSED: March 5 , 1986.
APPROVE
Mayor homas Prince
ATTEST:
Ci Clerk Czech