HomeMy WebLinkAbout9811S . • •
ORDINANCE NO. 9811
AN ORDINANCE AUTHORIZING AND DIRECTING THE TRANSFER
OF FUNDS TO THE LITTLE ROCK MUNICIPAL AIRPORT COM-
MISSION; PRESCRIBING OTHER MATTERS RELATING THERETO;
AND DECLARING AN EMERGENCY
WHEREAS,the City of Little Rock, Arkansas has issued its
s
-29 and.1 General Obligation Municipal Airport Bonds in the prin-
cipal amount of $300,000, dated January 31, 1955; and
WHEREAS the City now has on hand the proceeds of the sale
of said bonds less that portion thereof which has been expended for
the payment of necessary expenses incurred in the issuance of the
bonds; and
WHEREAS the Little Rock Municipal Airport Commission is
ready to undertake the proposed improvements to the Little Rock
Municipal Airport and has an immediate need for the proceeds of the
sale of said bonds; and
WHEREAS,under the provisions of Initiated Ordinance No.
8511 and the provisions of Act No. 53 of the Acts of Arkansas of 1949,
the Little Rock Airport Commission has full, complete and unlimited
authority to manage, operate, improve, extend and maintain the
Municipal Airport, its related properties and facilities and to have
full and complete charge thereof; and
WHEREAS Ithe City Council has found and determined that
the remainder of the proceeds of the sale of said bonds should be
turned over to the Little Rock Municipal Airport Commission, by
which action the best interests of the City of Little Rock, its
agencies and the inhabitants of the City will be served.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF
THE CITY OF LITTLE ROCK, ARKANSAS:
Section 1. That the proceeds of the sale of the City of
Little Rock 2% and 1-21% General Obligation Municipal Airport Bonds
dated January 31, 1955 be transferred by the officer of the City
presently having custody of said funds to the Little Rock Municipal
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Airport Commission, said funds to be used by the Airport Commission
for proposed improvementsto the Little Rock Municipal Airport and
said Commission to account therefor in the manner prescribed by law.
Section 2. That there is an immediate and urgent need for
the improvement of the Little Rock Municipal Airport in order that
"Oublic health, safety and property be adequately protected and
the transfer of the funds authorized by this ordinance is immedi-
ately necessary in order that said improvements may be accomplished.
It is, therefore, declared that an emergency exists and this ordi-
nance being necessary for the immediate preservation of the public
peace, health and safety shall take effect and be in force from and
after its passage.
PASSED: April 25 , 1955•
APPROVED:
Mayor
ATTEST:
Wiwi