HomeMy WebLinkAbout45980 R D I N A IT CE hT 0. 4598.
ART OP,DINMTCE APPROPRI zT ING $18$095.00 FOR THE PUiCIi4SE OF CEERTAIN
STRT'ET E(QUIP1,71ITT, PAY13LE IN THE YEARS 19302 1931, 1932, AND FOR
OTHER PURPOSES:
BE IT ORDAINTEM BY TTIE CITY C aJNCIL Or THE CITY OF LITTLE ROCK;
ARIaNS9S :
Section 1. A certain contract, of date April 28, 1930
by and between the City of Little Rock, Arkansas, therein desig-
nated as the purch_�ser, actinC through the hoard of public Affairs
of said City, and Indiana Truck Corporation, therein designated as
the seller, actinC by its District Manager, I-J. F. Hart, for the
rurchase b -Nr the said purchaser of and from the said. seller of
certain street egLiirment in said contract specifically described,
for an aggregate consideration price of Eighteen Thousand and
Ninety -five Dollars (018,095.00), said purchase constituting, one
entire and indivisible purchase of all of the street equipment so
described for said aggregate consideration price, a copy of which
contract is nade a p. -rt of the minutes of the meeting of the
Council of said City at which the within ordinance is adopted, is
hereby in all respects ratified, approved and confirmed according
to all of the terms, considerations and conditions of said con-
tract; and there is hereby pledged exclusively to the payment of
the installments of the said consideration price as specified in
said contract, pro rata vrith the installments of the consideration
price as specified in other contracts of purchase of street equip-
ment bsr the said City now made or contemplated, the aggregate of
which said first mentioned and all other contracts shall not, in-
sofar as the said pledge is or may be affected thereby, exceed
the sum of ;65,000, as and when the said installments of each and
all of said contracts respectively become due and payable, the
first moneys coming; to the hands of the said City from and after
the date of the said first mentioned contract, and during each of
the respective years, 1930, 1931 and 1932, cut of its share of the
respective taxes mentioned in said contract, to the full extent
-2-
of the 7ayments required to be made by the said City in each
successive year on account of its said purchases -within the said
aggregate of w65,000, which said first moneys so pledged shall be
kept separate and apart from the said City's all other funds so
long as any pert of said consideration -)rice of the said aggregate
of said purchases remains unpaid; and there is hereby appropriated,
out of the said first moneys, f or the payment of the said reapec-
tive installments of said consideration price, pursuant to said
first mentioned contract, the sum of X3,619.00, which shall be paid
to the said seller on July I, 1930, the sum of w7,238.00, which
shall be paid to the said. seller on July 1, 1931, and the sum of
X7,238.00, which shall be maid to the said seller on July 1, 1932•
Section 2. The ','ayor and City Clerk are hereby author-
ized and directed to execute the City's warrants in the above stns
on the above mentioned dates, payable out of the funds referred to
a,,ove, accruing to the City under i�ct ;trri��er 605 of the Acts of
tti.e General Assembly of Arkansas of 1921, out of all taxes levied
and collected in Pulaski County, Arkansas,' pursuant to the Section
5490 of Crawford and T oses' Digest of thetatutes of Arkansas,
and under Act ' umber 443 of the Acts of the General Assembly of
Arkansas of 1919, out of the road tax collected under said Act in
said City.
Section 3. This ordinance shall be in force and take
effect from and after the date of its passage.
Passed:
April 28, 1530.
Attest:
C_ty C
Approved:
_= ay or.