HomeMy WebLinkAbout3038lain
re-
7D-
:)L-
WE
VS.
:: :W-
427
339
se-
nse
;all
309
ed
W.
> r.
3V37
O1R.DdNANG'� NO. s:�7
An Ordinance _Authorizing the Funding and
Reissuance of $50,000 Outstanding Warrants
of the City of Little Rock
WHEREAS, there are outstanding warrants
Of the 'City of Little Rock of the aggregate
.amount Df $50,000, :payable September 25,
1822, and these are not, and will not be when
said warrants become payable, funds available
for their payment; and
WHEREAS, said warrants :am negotiable'
warrants (,otherwise described es Municipal
:Motes) dated April 1, 1922, being Series A,
Nos. 226 to 275 •inclusive, said warrants being
in the denomination of .$1.,000 each ; and
WHEREAS, said outstanding warrants were
issued in exchange for F'undifiz Warrants ma-
turing on April 1., 1922, allliG described in
Ordinance No. 2947, adopted on April 3, 1922
and
WHEREAS, the City Council of the City of
Little Rock, prior to the issuance of such
funding warrants maturing April 1, 1922, ands'
each of then, and also prior to the issuance
of such negotiable warrants, (otherwise ?de
scribed as Municipal Notes) dated April 1,
1922, and each of them, did carefully examine'
and determine the legality of the prior out-
standing warrants in exchange for which such
warrants respectively were issued, and the
- ... -, ;n T,1,+aAnacu -
M
City of Little Rock .of an equivalent face amount. Said nevj
:arrants shall be kno -un as Series A, to be numbered from
421 to 425, inclusive. teach such currant may bear t',e in-
municipal note (a negotiable warrant)" and Shall
be of the denomination of 010000 each, shall be dated September
25, 1922, and shall be payable en September 25, 1923. !'
I
Section 2. Said warrants shall be ue$ in
SeriesntiaFly S rr ollowing form: iss
_
sented by ea2h of such warrants ; nu
each insbance carefully ascertain and' _ declare_
sh_
° dn.
the validity and amount of such prior indebt-
and outstanding warrants before au-
803
$08
T
thorizing the re- issuance thereof; and
WHEREAS, the City Council of the City of
assn - �-
Imp
1< ^,ti
I ittle Rock has found that each of said war-
rants dated April 1, 1922 was duly ar}d prop -;
0"
az
er'IY issued for municipal Purposes and that
ithe,said City has received in the case of each
ad,
lad
of .sueh warrants at least the face amount
thereof ad that the sr.id warrants
has
aPmregat-
mg ,°,50,000 .and the irdebtcd<:4ss represented • -
ist
thereby are xid that ro part o; said
181
381 -
ran indebtedness
warrants or indebtedness has been paid; now,
therefore, -
-
Sce
BE IT ORDAINED by the City 'Council of
the City of Little Rock, Arkansas, as follows:
Section
1. rye said x50 ,000 warrants shall be
fu,�,ded and reissued
and the indebtedness
represented thereby
extended by the issuance of new negotiable
warrants of the
M
City of Little Rock .of an equivalent face amount. Said nevj
:arrants shall be kno -un as Series A, to be numbered from
421 to 425, inclusive. teach such currant may bear t',e in-
municipal note (a negotiable warrant)" and Shall
be of the denomination of 010000 each, shall be dated September
25, 1922, and shall be payable en September 25, 1923. !'
I
Section 2. Said warrants shall be ue$ in
SeriesntiaFly S rr ollowing form: iss
No
tXITED
S
BTATES OF AMERICA
"-I'M
T
OF ARKANSAS
CI Y OF LITTLE ROCK
MUNICIPAL NOTE
assn - �-
Imp
1< ^,ti
The City Negotiable Warrant)
Y of Little Rock, a manic'
fofation in the County alState
18t1
1
of Pulaski and
cknowledge5 itself i
sad `ya m
lm
to .
sae
securer is herdb =� ward the City
crdere
has
�exrer r' v sum of �_ f0 paq to the
DOLLARS , �`�"
real%
quee
�_ _
(�-" w.
f the TTrAj States -3�in lawful money
Amerlas
3p t
kill
atio at theg Chas
Ban)< New York City, bn the 25th
day of September 1023
the
- - --
r�dent his 's"'ront is issued pursuant to the cc
itution and statutes of the State of Ark.
s, including Act No. 388 of the Acts of A
T19a9 of 1917, and an ordinance adopted 1
City Council of the City of Little Rock c
1922 for the Purpose of extendir
Payment of certain indebtedness of a
y by exchanging outstandin ich were duly and Properly issued forrml
iPal purposes and for which the city hs
eived full value, equivalent to the fuc
ount thereof, t is hereby certified and recited that a' ditions, .acts and things required by th, stitution and statutes of the State of Ar
sas to exist, be performed and hn_ppen prt, nt to or in the issuance f this warrant, he incurring of the indebtedness evidenced eby have been properly done and Perform•
n regular and due form as required by law,
that said warrants and indebtedness, to.
er with all other indebtedness of the City
ittle Rock, is within every debt and other
mit Prescribed by the constitution or statutes
If said b,a[ , -end that no part of said war.
rant or the indebtedness evidenced thereby has
ces of asaid full arefwhereby pledged tosothe
Punctual payment of this warrant in accord-
ance with its terms.
In witness whereof the said City of Little
Rock has caused the warrant to be signed It
.tts mayor and its corporate seal to .be here -
and this warrant to be dated tSeptembe -let ,,'
1922,
are
Attest: Mayor. act wit
City Clerk. tirr
(Endorsement on Warrant) for
It is hereby certified that this warrant is C
registered and recorded at line______, on Au
__W in Warrant Bodk No_ page
the iiee of the City Clerk oP the City of
Little Rock.
It is hereby certified that this war ant has
been registered with avid recdrded by the City I5T,
Treasurer of the City of Little Rock at line C
- - -- , on page -___ in Warrant Book No. Itily_
- ---__, in the office of the ,city treasurer of' City of Little Reek.
• . City Treasurer. to
- (Certificate) an,
This is to certify that the signatures and My
I seal appearing on the within Municipal Note
of the
nine. as City of Little Rock, Arkans. gep_
°-- I'
Dated - - --- -- - - -- -------1922. --
Section 8. The Mayor, City Clerk and City
Treasurer
cute,areg sterbaand said directed
urecord dd arr.�riFa
and to issue and deliver said warrantF_ to the.
l.iroldera of said outstanding $50,000 of warrants
min upon receiving from said holders the said out_
standins arrants. Each of said outstanding.
t - warrants when exchanged shall be cancelled
by perforation by the City Clerk and stamped
cancelled upon issuance of new warrant in
exchange.' be,
Section 4. This ordinance is hereby .deter -
mined to be an ordinunoe for -the supp nd
maintenance of the various br of the
I municipal -ge vrnment of it of Little
Rock.
Passed" ._
i Approved _