HomeMy WebLinkAbout5263 RESOLUTION NO 5 ,263
A RESOLUTION APPROVING AN ALTERNATE PLAN
FOR OPERATION OF A PHARMACY IN THE MODEL
CITIES SHOPPING CENTER; TRANSFERRING FUNDS;
AND FOR OTHER PURPOSES
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF
LITTLE ROCK, ARKANSAS.
SECTION 1. It is presently the plan for St . Vincent Infir-
mary to operate a pharmacy now under construction in the Model
Cities shopping center, and the sum of $20 , 000 . 00 has heretofore
been set aside for said project. In the event this present plan
cannot be realized for any reason whatsoever, the Board of Di-
rectors hereby approves an alternate plan, that being the securing
of a Black pharmacist to own and operate said drug store. The
$20 ,000 . 00 previously allocated will be deposited into an interest
earning account at a local bank to be pledged as security for the
repayment cf any loan made to any such Black pharmacist and the
interest earned on said $20 , 000 . 00 deposit will be used to offset
and reduce interest charged on that loan for which this deposit
is pledged as security.
SECTION 2 . This Resolution shall be in full force and
effect from and after its adoption.
ADOPTED: September 3, 1974
ATTEST: 4/724) APPROVED: Lfli
City Cle Mayor