HomeMy WebLinkAbout12147ORDINANCE NO. 12,147
AN ORDINANCE APPROPRIATING THE PROCEEDS OF
THE SALE OF GENERAL OBLIGATION BONDS,
IDENTIFIED AS CITY OF LITTLE ROCK, ARKANSAS,
GENERAL OBLIGATION BONDS, SERIES 1968,
ISSUED PURSUANT TO AMENDMENT NO. 49 TO THE
CONSTITUTION OF THE STATE OF ARKANSAS TO
PROJECT 47, ENTITLED "PORT AND INDUSTRIAL
DEVELOPMENT;" AUTHORIZING THE PAYMENT OF
MONEYS THEREFROM FOR EXPENSES OF SALE AND
PURPOSES CONSISTENT WITH THE DEVELOPMENT
OF PORT AND INDUSTRIAL FACILITIES IN AND
NEAR THE CITY OF LITTLE ROCK; AND FOR OTHER
PURPOSES.
WHEREAS, under and pursuant to Ordinance No. 11,474,
an election was held under Amendment No. 49 of the Constitution
of the State of Arkansas for the issuance of bonds for the
purpose of securing and developing industry in and near the
City of Little Rock in the form of General Obligation Bonds
in the principal sum of One Million Ninety Five Thousand and
No /100 Dollars ($1,095,000.00); and
WHEREAS, bonds in the sum of One Million Ninety Five
Thousand and No /100 Dollars ($1,095,000.00) were sold as
provided by law, which, together with the premium collected,
resulted in a sale at the total price of One Million Ninety
Five Thousand and No /100 Dollars ($1,05,000.00), which sum
is in the possession of the City of Little Rock; and
WHEREAS, in order to utilize said bond funds for the
purposes intended, it is necessary to appropriate same to a
project within the control of the City of Little Rock;
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF DIRECTORS
OF THE CITY OF LITTLE ROCK, ARKANSAS:
SECTION 1. There is hereby created project entitled
"Project 47 - Port and Industrial Development."
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SECTION 2. There is hereby appropriated from the
proceeds from the sale of City of Little Rock, Arkansas,
General Obligation Bonds, Series 1968, the sum of One Million
Ninety Five Thousand and No /100 Dollars ($1,095,000.00) to
Project 47, "Port and Industrial Development."
SECTION 3. The City Manager and Director of Finance
are hereby authorized and directed to pay from said funds
appropriated in Section 1 hereof the reasonable and properly
presented expenses of sale and thereafter to expend from said
funds such sums from time to time as shall carry out and effect
the purposes of said bond funds, as described more fully in
Ordinances 11,474 and 11,513 of the City of Little Rock,
Arkansas.
SECTION 4. This Ordinance shall be in full force
and effect from and after its passage and approval.
PASSED: October 21, 1968
ATTESTG`- 1t.S� -��
City Clerk
APPROVED:., _ , / oil