810,~ . ~ ~~
ORDINANCE N0. ~/
AN ORDINANCE TO REPEAL ORDINANCE N0. 515,
ENTITLED, "AN ORDINANCE SUBMITTING TO THE
VOTERS OF THE CITY OF WEST MEMPHIS, ARKANSAS,
THE QUESTION WHETHER IT WILL ISSUE INDUSTRIAL
REVENUE BONDS IN AN AMOUNT NOT TO EXCEED
$28,500,000 FOR THE PURPOSE OF SECURING AND
DEVELOPING INDUSTRY WITHIN OR NEAR THE CITY
OF WEST MEMPHIS, ARKANSAS", DECLARING AN
EMERGENCY AND FOR OTHER PURPOSES.
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WHEREAS, the West Memphis City Council by Ordinance No. 515,
authorized on the 5th day of January, 1867, an election to be
held to determine whether to issue $28,500,000 in negotiable
industrial revenue bonds under the provisions of Act No. g of
the First Extraordinary Session of the Sixty-Second General
Assembly of the State of Arkansas for the year, 1860, as amended,
and
WHEREAS, an election was held on the lath day of Februar y, 1867,
in the City of West Memphis, Arkansas, and the electors of the
City of West Memphis, Arkansas, authorized a $28,500,000 issue
of bonds, and
WHEREAS, considerable time has elapsed since that date and
nothing has been accomplished toward the execution of the bonds,
THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF WEST MEMPHIS, ARKANSAS ~h.at Ordinance No. 515, authorizing an
election for the Southwest Chemical Corporation to issue
$28,500,000 in bonds be repealed.
,S ~~ ~a~mergency Clause. It having been determined by the City
Council of the City of West Memphis, Arkansas, that the auditors
of the City of West Memphis, Arkansas have determined that there
is a need that this item should be cleared from the records, an
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emergency is hereby declared to exist and this ordinance
shall be in full force and effect from and after its passage
and approval.
PASSED AND APPROVED this _1~ day of !.~ L , 197-•
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MA. R
ATTEST:
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"~ C ITY CLERK ~`~ ~~~
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