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ORDINANCE NO. 13,313
AN ORDINANCE AMENDING ORDINANCE NO. 12964 OF THE CITY OF
LITTLE ROCK, ARKANSAS, REDUCING THE ANNUAL COLLECTION OF
THE ASSESSMENT OF BENEFITS ON THE SEVERAL LOTS, BLOCKS,
AND PARCELS OF LAND WITHIN RIVERDALE LEVEE IMPROVEMENT
DISTRICT NO. 134 OF LITTLE ROCK, ARKANSAS.
WHEREAS; Riverdale Levee Improvement District No. 134 of Little
Rock, Arkansas, is a duly created and organized municipal improvement
district created by Ordinance No. 12932 of the City of Little Rock,
passed and approved on May 21, 1974, after the required number of
property owners had petitioned for the formation of the district, and
due notice had been given; and
WHEREAS, the benefits received by each lot, block, and parcel of
real property situated within the district was duly assessed according
to law by Ordinance No. 12964 of the City of Little Rock, passed and
approved on September 17, 1974, which directed that there be collected
an annual collection of five per centum (5%) per annum of the assessment
to be collected, beginning with the first installment of the general
taxes due in 1975; and
WHEREAS the commissioners of said district have reported that the
commissioners lave determined that the district, by the issuance of
refunding bondsfor the purpose of refunding its outstanding 1974 bonds,
can realize a substantial savings in debt service requirements, reduce
the annual collection of the assessment of benefits from 5% to 4.85% per
annum, resulting in an annual savings of $1,719.00 to the property owners
and effecting a substantial gross savings over the life of the bonds, all
of which the commissioners have determined will be in the best interest
of the district and its property holders, and
WHEREAS, in order to accomplish this annual reduction of the
collection of the assessments, it is necessary to amend the assessment
r'
ordinance levying the assessment of benefits and collection thereof in
this district; now, therefore
BE IT ORDAINED BY THE BOARD OF DIRECTORS OF THE CITY OF LITTLE
ROCK, ARKANSAS:
SECTION 1. That Section 1 of Ordinance No. 12964 of the City
of Little Rock, Arkansas, passed and approved on September 17, 1974, be
and the same is hereby amended to read as follows:
"SECTION 1. That the said several lots, blocks and parcels of
real property in Riverdale Levee Improvement District No. 134 of Little
Rock, Arkansas, be assessed according to the assessment list for said
improvement district, as the same now remains or may hereafter be changed
in the office of the City Clerk, and that four and eighty -five hundredths
per centum (4.85%) of the assessments on each of said lots, blocks, and
parcels shall be collected by the County Collector with the first install-
ment of the general taxes becoming due in 1978, and four and eighty -five
hundredths per centum (4.85/) of the assessment shall be collected
annually thereafter with the first installment of the general taxes until
the whole of the local assessment shall be ,Iaid, and so long as maintenance
and repairs are necessary for the improvements by the District."
SECTION 2. This ordinance shall take effect and be in full force
from and after its passage.
PASSED
July 19
1977.
Elul Y UK