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ORDINANCE N0. 10 -, 547
AN ORDINANCE AUTHORIZING THE BOARD OF PUDIC AFFAIRS TO
ENTER INTO A LEASE PURCHASE CONTRACT FOR MNITURE IN THE
MAYOR'S OFFICES IN THE CITY HALL: PROVIDE FOR THE PAYMENT
THEREOF ON A RENTAL BASIS AND FOR OTHER PURPOSES.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LITTLE
ROCK, ARKANSAS :
Section 1. That the Board of Public Affairs
is hereby requested and authorized to enter into a lease
purchase contract for the furniture in the Mayor's offices
in the City Hall, Little Rock, Arkansas.
Section 2. That the title to the furniture
is now vested in the Arkansas Stationery and #Jrniture Company.
Section 3. That thirteen (13) monthly
payments in the amount of $275.00 and one payment in the amount
of $82.96 be paid to the Arkansas Stationery and Furniture
Company to liquidate the unpaid balance. Said monthly payment
to begin
'74""
in duly 1957•
Section 4. Arkansas Stationery and Furniture
Company would enter into a rental contract agreement stipulating
vest
that title would/Amwtxin the City Ath the completion of the
fourteen (14) payments referred to above.
Section S. That all ordinances and parts of
ordinances in conflict herewith are hereby repealed, and this
ordinance shall be in fulli force and effect from and after its
its passage and approval.
PASSED May 27, 1957
ATTEST:
CITY CLERK
APPROVED
MAYOR
w;
N \ ve
& FURNITURE
C U- P A N Y
TENTH & CENTER • PHONE FR 5.5551
Little Rock, Arkansas
May 24, 1957
Mr. James Gr i f f ey,
Finance Committee
City Hall
_Chairman
- Little Rock City Council
Little Rock, Arkansas
Dear Mr. Griffey;
I am addressing you in your capacity as Chairman - Finance
Committee of the Little Rock City Council. The office furniture in
the Mayor's office, the outer office and Board Room was purchased
by the Mayor in January, 1956 from the Arkansas Stationery b Furni-
ture Company. The Mayor believed, at that time, friends of the city
would pay the bill as they had done when floor covering, air con-
ditioning and interior decorating were accomplished in the Mayor's
office. The Mayor signed a personal note at Worthen Bank and Trust
Company for $4,470.84 in payment of all the furniture, but at a
later date has, by agreement, been relieved of his personal indebted-
ness. This action clarifies title to the furniture which is now the
property of Arkansas Stationery & Furniture Company.
The City has had the use of this furniture for 16 months
without cost to the taxpayers. Would you, as Chairman of the Fi-
nance Committee, endeavor to have the City pay a rental for the con-
tinued use of the furniture with title eventually going to the City?
If so, a rental of $275.00 per month for 13 months and $82.96 for
I month wou]d liquidate the unpaid balance. This amount is less
than the note signed by the Mayor.
Arkansas Stationery and Furniture Company would enter into
a rental contract of agreement, subject to approval by proper City
officials, stipulating that title would vest in the City with the com-
pletion of the 14 payments referred to above ( 30 months from the
original date of sale). Your consideration of this proposal will be
appreciated.
incerely yours,
Walter C. Guy
WCG:mbh Chairman of the Board
"Everything for the Office"
LOOSE LEAF SYSTEMS • OFFICE FURNITURE •
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JF ING SUPP I S I