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ORUIItiNCE NO. 4+97.
AN ORDINANCR PROVIDING FOR THE ISSUANCE OF BONDS FOR
THE PURPOSE OF PURCHASING A SITR FOR tiND E;UIPMENT OF A
MUNICIPAL AIRPORT; FOR THE PURCHASE OF FIRE - FIGHTING APPARATUS
AND A FIRS. ALARM SYSTEM; AND FOR THE CONSTRUCTION OF AN ADDITION
TO THE LITTIZ ROCK (NMRAL HOSPIU:� Al® PURCHASE OF EQUIPMENT
THEREFCR..
WHEREAS, by Ordinance duly passed on the first day of
July, 1929, there was submitted to the qualified electors of the
City of Little Rock, tie question whether it should issue ponds
to the extent of $55x000 for the following purposes: $900,000
for purchasing a site for and equipment of a municipal airport;
4300, 000 for the purchase of fire-fighting apparatus and a fire
alarm system; and $55,000 for the construction of an addition to
the Little Rock General Hospital and purchase of equipment there-
f or;
ANDS WHEREAS, due. notice of the election was given as
required by law, and at said election 2886 votes were cast in
favor of the bond issue for the purpose of purchasing a site for
and equipment of a municipal airport, and only 1534 votes were
cast against it; 3061 votes were cast in favor of the bond issue
for the purchase of fire - fighting apparatus and a fire alarm
system, and only 1235 votes were cast against it:; and 2454 votes
were cast in favor of the bond issue for construction of an ad-
dition to the Little Rock General Hospital and purchase of equip-
ment therefor, and only 1825 votes were cast against it;
AIZD, `,MREAS, after due advertisement 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, said bonds
were offered for sale
for cash
on sealed
bids on the 15th day of
October, 19299 and at
said sale��s�
?r
J,
T4 An
0
&4-4,0 "4 41c-�
d
bid and offered the price of , and this being�G� ?"
best bid, said bonds were sold to j6�AZ.S f s i C1.42T d6-_eo
at that price;
NOW, TIRREFOM , BE IT ORDAINED BY THE CITY COUNCIL OF
I OCK •
THE
CITY OF L TTLE R -.
Section
1.. The
]Mayor and City
Clerk are hereby
au-
thorized
and directed to
execute the
bonds of this City,
bearing
interest
at the
rate of
/C'tv,F (s)
per centum
per
annum,
dated
November
19 19299.
all being of
the denomination of
$1000,
and
their numbers and maturities to
be as follows:
NOS. OF BONDS.
AMOUNT.
I&TURITY.
I
to
35, inclusive,
$359900
September
1,
1933-
36
45
"
109000
"
19
1934 .
46
"
56
"
119000
"
it
1935.
57
"
67
"
119000
"
19
1936.
68
79
12, 000
"
1. o,
1937.
80
w
91
"
129000
of
19
1938.
92
"
104
W
13,000
"
19
1939.
105
"
117
to
13,000
""
11
1940•
118
"
131
"
14,000
"
19
1941.
132
"
146
"
15,000
"
1,
1942.
147
'*
162
169000
"
19
1943.
163
"
178
"
169000
"
19
1944.
179
"
195
'r
17,000
"
1,
1945.
196
213
"
18o,000
"
19
1946.
214
"
232
"
14,000
"
it
1947.
233
252
"
207S000
"
it
1948'
253
"
2.73
21,000
"
19
1949.
274
w
295
"
22,000
"
it
1950.
2-96
r
as
239000
it
1951.
319
0
342
"
24,000
"
it
1952
.
343 to 368, inclusive, $26,000 September 12 1953
369
395,
K
27,000
" 19
1954.
396 "
423
W
280000
" 1,
1955.
424 "
453
"
309000
" it
1956.
454
484
"
319000
" 1,
1957.
485 "
517
K
339,006
'r 1,
1958.
518
555
"
38,000
" it
1959,
Section 2. Said bonds shall be in substantially the
f o ll oaii ng form:
UNITED STATES OF AlMRICA
STATE OF ARKANSAS
CITY OF LITTLE ROCK
AIRPORT, HOSPI TAI, AND FIRE E0UIPI9ENT BOND
Ho.;
$1000.
KNOW ALL MN 3Y THESE Ply SE NTS :
That the City of Little Rock, in the County of Pulaski,,
and State of Arkansas, acknowledges itself to o,,ue and for value
received promises to pay to bearer the sum of
ON& THOUSAND DOLLARS
in lawful money of the United States of America, on the first
day of September, 19 , with interest thereon from the first
day of November, 1929, at the rate of F'r yr per ce ntum pot
annum, payable semi - annually on the first day of March and
September of each year, on presentation and surrender of the
annexed interest coupons as they severally mature. Both, prin-
cipal and interest of this bond are hereby made payable at the
office of in
the City of and State of
This is one of a series of five hundred and fifty -five
(555) bonds, aggregating give Hundred and fifty -five Thousand
DollaSs x$555,000, all of like tenor and effect, except as to
maturities, numbered from one (1) to five hundred and -fifty -five
-.
(555), inclusive, issued for the purpose of purchasing a site
for and equipment of a municipal airport, for the purchase of
fire -f ighting apparatus and a fire alarm systems and f or the
construction of an addition to the Little Rock General Hospital
and purchase of equipment therefor, and the said City of little
Rock hereby covenants that in the issuing of this bond it has
proceeded in' accordance with the provisions of the Amendment
which was adopted as Amendment No. 15 to the Constitution of the
State of Arkansas, now Amendment No. 139, and in accordance witjt
the laws of said State, under ordinances of the City Council of
said City, and in pursuance of an election duly held, at which
the majority of the legal voters of said City voted in favor of
the issue of said bonds; that all things necessary to the validity
of this bond under the laws of the State of Arkansas, and par-
ticularly under said Amendment to its Constitution, have existed,
have happened and have been performed as required by law; and that
a tax sufficient to pay the bonds aforesaid has been duly levied
in accordance with said Constitutional Amendment, and made paya-
ble annually until the last of said bonds has been fully paid and
discharged. For the prompt payment of this bond and the interest
thereon, the said City of Little Rock hereby pledges its full
faith, credit and taxing power, including the five mill tax au-
thorized to be levied by said Amendment to the Constitution, and
applicable to the payment of this bond and o the r bonds of this
series.
This bond shall not be valid until authenticated by the
certificate hereon of the
.t
ofvt�
IN WITNESS WHEREOF, the City of Little Rock has executed
this bond by the hands of its Mayor and City Clerk, and attested
it with its corporate seal, and has caused the coupons hereto
attached to be authenticated by the fac simile signature of its
Mayor, on this first day of November, 1929.
•
Attest:
CITY OF LITTLE ROCK
By
Mayor
City Clerk
To each of said bonds are attached coupons for the
semi - annual interest in the following forms
'!
NO.
March,
On the first day
of Sept.,
19 , the City
of Little
Rock, Arkansas, promises
to pay to
bearer
Dollars, at the off ices of�,�
G� in
the City of
,
being six
months interest
then due on
_
its Airport, Hospital and
Fire Equipment
Bond ted
November 19
1929, and numbered
Mayor
(The f it-st coupon attached to each bond will be for ten
C7
months interest, due September 1, 19309 $ V/ — -)
(The signature of the Mayor to the coupons attached to
said bonds may be lithographed or engraved.)
On the back of said bonds shall appear the following
CERTIFICATE.
This is to certify that this is one of the 555 bonds
of the issue mentioned and described within.
0
19
Section 3. The Mayor and City Clerk are hereby
authorized and directed, when they have executed said bonds,
to turn them over to the purchasers, upon receipt of the pur-
chase price; and the proceeds of said bonds shall be used for
no purpose except for the purpose of purchasing a site for and
equipment of a municipal airport, for the purchase of fire- fightigg
apparatus and a fire alarm system, and for the construction of an
addition to the Little Rock General Hospital and purchase of equip-
me nt therefor.
Section 4. In order to pay the said bonds as they mature,
with interest thereon, there is hereby levied upon all real and
personal property within the City of Little Rock a tax of
mills for each of the years 1929 to 1958, inclusive, being a sum
sufficient to meet said bonds and interest as they mature, with
five per cent added for unforeseen contingencies; and the City
Clerk is directed to transmit a copy of this ordinance to the
County Clerk of Pulaski County, to the end that said taxes may
be extended on the tax books of said county and collected annually
along with the other taxes until the said bonds and interest thereon
are paid in full.
Section 5. In order to pay said bonds as they mature,
there is hereby appropriated out of the proceeds of the tax hereby
levied, and if such proceeds be not sufficient, then out of the
general revenues of the City, the following sums to pay the prin-
cipal and interest of said bonds as they maturet
MUR. TOTAL. BOND PRINCIPAL. BOND INTKRKST...
1930 271750 271 750
1931 271750 27,750
1932 27.750 272750
1933 62,750
351000. "."
272750
1934 36,000
109000.
26,000
1935 36,500
112000•
25,500
1936 35,950
11,000•.
24,950
ffift
YEAR
TOTAL
BOND PRINCIPAL
BOND INTEREST
1937
36,400•
129000.
24,400
1938
359800.
12,000
232800
1939
36,200.
13,000 '. -.
23,200
1940
353,550.
133,000.
22,550
1941
35,900.
149000.
210900
1942
86,200.
159000.
21,200
1943
363,450.
16,000.
201450
1944
352650.
16,0001
199650
1945
35,850.
17,000,
189850
1946
36,000
181000:
18,000
1947
36,100,
19,000.
17,100
1948
36,150.
20,000.
16,150
1949
361,150.
219000.
15,150
1950
36,100-
223,000.
14,100
1951
36,000
23,000.
13,000
1952
35,850.
24,000
111850
1953
36,650.
26,000,
10,650
1954
362350.
272000.
9,350
1955
369000
282000.
8,000
1956
36,600.
302000.
6, 600
1957
369100
31,000.
51100
1958
36,550
33,000.
31 550
1959
39,900.
389000.
1,900
EkE
• ,
Section 6. It is ascertained and hereby declared
that the City of Little Rock has no proper airport, and that
the construction of a proper airport, where aitplanes can land
and take off, is essential to the public safety; that its fire-
fighting apparatus and fire alarm system are in imperfect con-
dition, and that the purchase of fire - fighting apparatus and a
fire alarm system are essential to the public safety; that its
General Hospital is not large enough to meet the public needs
and its equipment is insufficient, and that the building of an
addition to said Hospital and the purchase of equipment there-
for are essential to the public health; and it is therefore
declared that an emergency exists, and that for the preservation
of the public health and safety it is necessary that this or-
dinance go into immediate operation, and this ordinance shall
therefore take effect and be in force from and after its passage.
PASS M: October 15, 1929.
7D
t �
May r.
ATTEST:
City Clerk. ��