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ORDINANCE NO. 84850
AN ORDINANCE AUTHORIZING THE TRANSFER OF FUNDS REMAINING IN THE
AIRPORT BOND FUND TO THE 5% SINKING FUND; AUTHORIZING THE TRANSFER
OF FUNDS REMAINING IN THE FIRE DEPARTMENT SINKING FUND TO THE 5%
SINKING FUND; AND FOR OTHER PURPOSES.
WHEREAS, on October 1, 1940 bonds in the amount of
$377,000.00 were issued for the purpose of making various improvements
3 Wwwmw Fliald, Little Rock Municipal Airport, of which °a total of
$292,500.00 were refunded and converted to $308,000.00 of l Airport
Refunding Bonds as of March 1, 1945; and on March 1, 1941 bonds in the
amount of $25,000.00 were issued for the purpose of making various
improvements in the Little Rock Fire Department; and,
WHEREAS, both issues of said bonds have been retired and
all obligations in connection therewith have been met; and,
WHEREAS, there remains in the Airport Bond Fund a balance
of $16,130.16, and in the Fire Department Sinking Fund a balance of
$1.,796.67; and,
WHEREAS, on November 1, 1929 bonds in the amount of
$5 5-AW00 were issued; portions of which were for the same purposes,
that have not yet matured in full; and,
WHEREAS, the balances remaining in the retirement funds for
bonds already retired are no longer needed therein, and are needed in
the retirement fund for bonds issued for the same purposes yet to
mature, and may be used therein; NOW, THEREFORE,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LITTLE ROCK,
ARKANSAS:
SECTION 1. The Mayor and City Clerk are hereby authorized
and directed to transfer the balance of $16,130.16 now remaining in
the Airport Bond Fund to the 5% Sinking Fund.
SECTION 2. The Mayor and City Clerk are hereby authorized
and directed to transfer the balance of $1,796.67 now remaining in
the Fire Department Sinking Fund to the 5% Sinking Fund.
SECTION 3. This ordinance shall be in full force and effect
from and after its passage and approval.
PASSED: October 9, 1950•
ATTEST:
City Clerk.
APPROVED
Mayor.