HomeMy WebLinkAbout11225ORDINANCE NO. 11,225
AN ORDINANCE APPROPRIATING FROM UNAPPROPRIATED SURPLUS
THE SUM OF THREE THOUSAND THREE AND 04/100 DOLLARS
($3,003.04) PAYABLE TO THE UNION NATIONAL BANK OF LITTLE
ROCK, ARKANSAS, AS A REFUND OF CERTAIN AD VALOREM TAXES
ON THE SHARES OF ITS CAPITAL STOCK ERRONEOUSLY ASSESSED
AND PAID BY SAID BANK FOR THE YEAR 1960 TO THE TAX
AUTHORITIES OF PULASKI COUNTY, ARKANSAS, AND DISTRIBUTED
TO THE CITY OF LITTLE ROCK; AUTHORIZING AND DIRECTING
THE CITY MANAGER AND DIRECTOR OF FINANCE TO DO ALL THINGS
NECESSARY TO EFFECT PAYMENT OF SAID REFUND; AND FOR OTHER
PURPOSES.
WHEREAS, the Union National Bunk of Little Rock, Arkansas,
was erroneously assessed and paid certain ad valorem taxes on the
shares of its capital stock to Pulaski County, Arkansas, for the
year 1960, of which the sum of Three Thousand Three and 04/100
Dollars ($3,003.04), representing the first quarterly installment
of said taxes, was distributed to the City of Little Rock; and
WHEREAS, the said Union National Bank has requested a refund
of said amount of taxes with the understanding and agreement that
if said refund is made the said Bank will voluntarily donate to
the City of Little Rock, as a gift and contribution for public
purposes only, the sum of Twelve Thousand Twelve and 16/100 Dollars
($12,012.16), representing the full amount of said taxes for 1960
which the City of Little Rock would have received had the said
taxes been legally assessed and fully paid; and
WHEREAS, the City of Little Rock under the circumstances
desires to cooperate with said Union National Bank;
NOW THEREFORE, BE IT ORDAINED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS:
SECTION 1. 'There is hereby appropriated from unappropriated
surplus the sum of Three Thousand Three and 04/100 Dollars
($3,003.04) payable to the Union National Bank of Little Rock,
Arkansas, representing the City of Little Rock's distributive share
of the first quarterly installment of certain 1960 ad valorem taxes
on the shares of its capital stock erroneously assessed and paid by
said Union National Bunk.
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SECTION 2. The City Manager and Director of Finance of
the City of Little Rock are hereby authorized and directed to
issue the necessary warrant in payment of said refund authorized
herein upon the voluntary payment to the City of the sum of
Twelve Thousand Twelve and 16/100 Dollars ($12,012.16) by the
Union National Bank as a gift and contribution for public purposes
only.
SECTION 3. This ordinance shall be in full force and effect
from and after its passage and approval.
PASSED: October 16, 1961
ATTEST:
City Clerk
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