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RECEIVED
and FIL,ED
1934
JOHN L. KRUMM
011DIWiliCE NO.
()RD11'L=E FIUNG THE ANNUAL RATE
AIZ, DAN Or, CULLLCTION OF ASS&;SMk_ r.;
OF BLS 'ITS IN .23TREET 1IL-ROVEMENT DIS-
TRICT NO. 430, AND PROVIDING FOR INT12-
EST ON SAID MNUAL M;rL"fiJJAL:24T,1-)' OF
BiZE.L'FITS.
4HEREASg Street lmprovrtvent _,.i!trict No. 430 of
the City of Little rRock has entered into an F-1,9reement vilth
the holders of its eutstsnding bonded indebtedness whereby
kill
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L issue refunding, bonds to be exchanged for the
present outstanding bonds of said district, said refunding
bonds to Provide for more time in which to pay the outstand-
ing bonded indebtedness, thus deCrOasing the annual require-
rients to be collected fron-, the property orners in the
distli*iat; and
.7MMEA29 it-viill be much easier for the property
owners ir, the District to pay the refunding bonds over a
perioet of years; and
""d'11MEASS the statute permitting refunding, bonds
provides for Interest rat six per cent per annum frcm the
date of the refundiae- bonds to be co '
1.1.ected on each nianual
Ir'stallrWnt Of tke assessment of benefits;
NOUs THMEFOREt Be it Ordained by tile city �c)uneil
of the City of 1,ittle bock, Arken as:
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L,ection 1: That the said several lots, blocks$
ParC013 ond tracts of rea-11- property in _;--1reet improveziEnt Dis-
trict No. 430 of the City of Little hock, Arkansas, be and
the sme areu hereby assessed according to the assessment
list for said improvement district as the same now remains
in the office of the City Clerk. of the city of 1jittlehock-
Arkansas, and as it may hereafter from time to time be re-
vised or readjusted by the BoRrd Of Assessors, and that five
per cent (5%) of the said asseosmeilt of the value of the
benefits on each of said lots, blocks, ptn.roeis alid tracts of
real property in said districts, beginning, with September 1.
19349 to be paid annually on or before the first day of
September of each yettr until th(-,, - .thole of said assessments
have been paid. The assessments shall bear interest from
t-he first day of January, 1934 until paid at the rate of six
per cent per annum, but interest shall be collected upon each
annual instellment sep,.,,rately aml collection of Interest shall
begin with the installment due on September 1. 1939 and shall
be collected on each installment thereafter unless otheralse
ordered by the sJoard of Commissioners.
Section P,: That all ordinr:,noes or parts of ordinances
shell be in full force Tana effect- from and after its passak-,e.
Ppssed j A?