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RESOLUTION NO. 2111
A RESOLUTION REQUESTING ASSISTANCE OF THE ARKANSAS CONGRESSIONAL
DELEGATION, THE ARKANSAS MUNICIPAL LEAGUE, THE U. S. CONFERENCE
OF MAYORS , THE MUNICIPAL FINANCE OFFICER' S ASSOCIATION, AND OTHER
MUNICIPAL GOVERNMENT ORGANIZATIONS, IN MAKING A STUDY OF RATES OF
INTEREST ON U. S. GOVERNMENT NOTES AND BONDS, AND THE EFFECT OF
HIGHER INTEREST RATES ON MUNICIPAL BONDS; AND FOR OTHER PURPOSES.
WHEREAS, The Treasury of the United States is offering U. S.
Government Notes and Bonds at increasingly higher interest rates; and
WHEREAS, The sale price and interest rates of Municipal Bonds
are being directly effected by the interest rates paid on these U. S.
Government Notes and Bonds; and
WHEREAS , The Cities of the State of Arkansas are being further
limited in the amount of bonds that can be issued for capital improvements
as a result of these higher interest rates.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
LITTLE ROCK, ARKANSAS:
That the Arkansas Congressional Delegation, The Arkansas Muni-
cipal League, The U. S. Conference of Mayors, The Municipal Finance
Officer' s Association, and other Municipal Government organizations are
hereby requested to make a study of the interest rates offered on U. S.
Government Notes and Bonds and the effect on the sale price and interest
rates on Municipal bonds being offered for sale with a view of alleviating
the hardship that is being placed on Municipalities in securing funds for
Capital improvements .
ADOPTED: June 18, 1956
ATTEST: APPROVED:
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City Clerk Mayor