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HomeMy WebLinkAbout6980ORDINANCE NO. 6960 AN ORDINANCE t:6TAbLISHIN& THE PU61TIUN OF FINANCE uFFICER OF THE CITY OF LITTLE RUCK; DESIGNATING THE CITY CLERK AS SUCH FINANCE OFFICER; PRr;SCRIbING THE DUTIES OF SAID OFFICE; "D FOR OTHER PURPUSES. WHiXtt;AS, no provision is made and no responsibility is placed for the control and management of various of the City's finan- cial transactions, such as arranging for prompt payment of payrolls, transmitting funds to paying agents to meet requirements in the various millage bond schedules, preparation of financial statements for establishment of budgets, establishing annual ad valorem tax rates, and kindred matters; and WHEREAS, the volume of municipal business has reached such proportions that it is deemed advisable to establish an office for these purposes in order to further insure against defaults occuring in the City's financial obligations that would injure the excellent credit position of the City; and, WHt;Rr AS, the City Clerk of a number of years made these various various functions for the City withoi Council and he is desirous that full NOW, THr_Rr+FORt., bL IT ORDAINr;D by THE CITY huGK: the City of Little Rock has for negotiations and performed these it authorization from this authorization be given; COUNCIL OF THE CITY OF LITTLE 6ECTION 1. The position of Finance Officer of the City of Little Rock is hereby established with authority vested in such Finance Officer to negotiate, when necessary, for funds for the prompt payment of payrolls of City employes; and to negotiate for funds for the prompt payment of bond interest and bond principal in the City's millage bond issues and the transmittal of such funds to the respective paying agents. SECTION 2. The City Clerk of the City of Little is hereby designated as such Finance Officer, as provided in Section 1 hereof. SECTION 3. It shall be the duty of the Finance Officer, in addition to those inferred by the provisions of Section 1 hereof, to prepare, not later than December 20 of each year for use by the Budget Officers of the City in establishing budgets for the ensuing year, the basis for departmental budgets by submitting to said Budget Officers a statement of necessary operating expenses of each depart- ment of the City based on experience of at least five years of departmental expenditures as reflected by the distribution of exptense record maintained in the office of the City Clerk, and to submit in connection therewith estimates of revenues for the year in which the said budget is to be effective. It shall be the duty of the department heads of the City to furnish such information to the Finance Officer as is available from their records in the preparation of estimates of revenues to be used in connection with the establishment of budgets. It shall be the further duty of the Finance Officer to submit to the City Council in time for certification to and levy by the County Quorum Court a schedule of all ad valorem millage levies for collection of taxes for the ensuing year. Bt;CTION 4. This ordinance shall take effect and be in force from and after its passage. PAaBll: April 15, 1946 ATTEST: ._ City Clerk. APPROVED: May .