HomeMy WebLinkAbout4870 RESOLUTION NO. 4,870
A RESOLUTION ALLOCATING THE SURPLUS OF MONEY
REMAINING IN CERTAIN BOND ACCOUNTS AFTER THE
PAYMENT OF THE FULL PRINCIPAL AND INTEREST ON
GENERAL OBLIGATION LIBRARY IMPROVEMENT BONDS
OF 1958 ISSUED PURSUANT TO ORDINANCE NO. 10 , 708
OF THE ORDINANCES OF THE CITY OF LITTLE ROCK
PASSED JANUARY 13 , 1958; AND FOR OTHER PURPOSES
WHEREAS, the City of Little Rock, Arkansas has heretofore
issued and sold for value various bonds known as General Obli-
gation Library Improvement Bonds of 1958 issued pursuant to
Ordinance No. 10 , 708 of the City of Little Rock passed January
13 , 1958; and
WHEREAS, the City of Little Rock has levied a tax for the
purpose of paying said bonds and the interest thereon and has
placed the revenues therefrom in a bond and interest fund
account; and
WHEREAS , said bonds with interest thereon have now been
paid in full; and
WHEREAS, the sum of approximately $11 ,204. 82 now remains
in the said bond and interest account for said bonds which sum
is net after the payment of all bonds and interest through
maturity; and
WHEREAS, the cost of refunding said amount of money will
exceed the amount to be refunded; and
WHEREAS , the said excess or surplus should now be used for
proper public municipal purposes.
NOW THEREFORE , BE IT RESOLVED BY THE BOARD OF DIRECTORS
OF THE CITY OF LITTLE ROCK, ARKANSAS .
SECTION 1. The surplus or excess amount of money now re-
maining in the bond and interest fund account for the City of
Little Rock General Obligation Library Improvement Bonds of 1958
authorized by Ordinance No. 10 , 708 of the City of Little Rock ,
passed January 13 , 1958 is hereby allocated and dedicated for
use so far as said amount of money may extend for the purpose
of equipping and making additions and/or improvements to the
Little Rock public library.
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SECTION 2 . This Resolution shall be in full force and
effect from and after its adoption.
A•
ADOPTED: September 19, 1972
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ATTEST : APPROVED:
ity Clerk Mayo"