HomeMy WebLinkAbout1939 ±. 1 y M
RESOLUTION NO. 1939
A RESOLUTION AUTHORIZING THE BOARD OF COIVMISSIONERS OF THE LITTLE
ROCK MUNICIPAL WATER WORKS TO ADVERTISE FOR THE SALE OF 01,000,000
OF VJATERi`IORKS IMPROVEMENT REVENUE BONDS OF 1952 OF THE CITY OF
LITTLE ROCK, ARKANSAS, SAID SALE TO BE SUBJECT TO TI-L APPROVAL OF
THE CITY COUNCIL OF THE CITY OF LITTLE ROCK, ARKANSAS , AS : VIDENCED
BY ENACTMENT OF AN ORDINANCE AUTHORIZING THE ISSUANCE OF SAID BONDS
UNDER TIE AUTHORITY OF ACT 131 OF 1933 , AS AMENDED, AND ACT 215 OF
1937 , OF TIE ACTS OF THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS.
WHEREAS, it is imperative that certain betterments and improve-
ments to the existing waterworks system of the City of Little Rock,
Arkansas , be constructed as soon as possible, and
WHEREAS , Burns & McDonnell Engineering Company has estimated
the cost of said improvements to be approximately 41,000,000, and
WHEREAS, said Board of Commissioners of the Little Rock
Municipal Water Works is without funds to construct said improve-
ments unless revenue bonds be sold, now, therefore :
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LITTLE ROCK,
PULASKI COUNTY, ARKANSAS :
Section 1. That the Board of Commissioners of the Little Rock
Municipal Water Works be and they hereby are authorized to advertise
for sale 81,000,000 of Waterworks Improvement Revenue Bonds of 1952,
of the City of Little Rock, Arkansas, to the lowest bidder, with
the right to reject any and all bids , said sale , nevertheless , to be
subject to the approval of the City Council of the City of Little
Rock, Arkansas, as evidenced by enactment of an ordinance authorizing
the issuance of said bonds and confirming the sale thereof under the
authority of Act 131 of 1933, as amended, and Act 215 of 1937, of
the Acts of the General Assembly of the State of Arkansas .
Section 2. It is hereby declared that an emergency exists and
that this resolution is necessary for the immediate preservation of
the public peace , health, safety and welfare for the following reasons :
(a) There is an urgent public need for the construction of
betterments and improvements to the existing waterworks system and no
funds are available for such construction without the aforesaid bond
Resolution No.
Page 2
issue immediately. This resolution shall , therefore, take effect
from and after its adoption.
Adopted: October i3 , 1952.
Attest : f Approved:
/01 f/i4ar /
'City Clerk Mayor