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320.~ t ~- , ' ~:. ...„ .. t~~~ ,~sc~aa~a ~$C~~a~ ~ ~ ~axc~ xa. 31~, A3, by th~inance ~a. 316, passed and apparoved rah l5, 19'i, the City rt West t~phie, ~~rkaasae, authariased the issue ct ~~A0,4t3Q ire 3~- Publia utility l~tmda of 19x6, and directed in seatiexs l~ flt said ordinance that the bands be Bald at a public sale, eith the right to aom-ert tram ?~ interest tv lovrsr interest rats s ; and '~ , that City, after advertising the sale at said t-+c~nd e by publibhed hvtiae in the Crittenden County Times, at the sale held April .,,„~, lam, received tram the Ran®y Invsstmsnt C}~~, a cacs~tl~itxt, tit Little 1~c~k, .Ax'1CaAeSat. a bid oaf ].41.0¢ qA the dollar lat~t valwr and accrued intera~ tvr the bands, and thib xar thu best az~d highest bid r~aceived and the bonds cars Bald to the said Caney 2~atYestment Ctlm~tz~t, to be delivered under tl~e farms of the notice `r.. t~! sale ; and ~IIAd, the buyer has e~eroised the right to convert t1a~e bands to b+~ads basting lower rates at interest and has presented a ttaxrt3tiaata shaving that ~SUt?,440 in 39d bonds maturing as set out in the notice ct sale and in 4rdit~ance eta, 3l6 have been aonverted to ~+~tf,2~4 in bands bearing interest and maturing as ~srettr rift cut, showing that the cast at maturing the bands attar s~or~v~rreian is ~lt~~.4~ lase than the east of maturing the bands according to th~r ae~iginal sahedulti, and theretc~re the aanversion is within the ~s ct the sale notice a~xd at the ordinance, and the buyer is nc~w ready to rec~sivs delivery at the bonds as soon as the City la legally able to make delivttxy', but it beao~srs r~aessary to substitute the a~a-dule •.•- +at the bands after canversian for the schedule as it appwrars in Crdin~tna~- Via. 31~; now, therefore, BY ~T ~ by the City Cauneil a! the City of liieet ntphis, Arkansas « 3~CCTSC~ 1. 'l~tt the C~.ty Council. has examit'ed tl~ teraae of the sale and the tereis at the c©nversion at the btaads and tiaade thew r, e f .Y . X,. ~ ~ r '~ i tc '~ ~.n cva~plianc~e wi~~ i~t~e n~ieae of aa1s; ~n8 t~rx~erlc~re both the ~~le of bcmd~ do ~ar~sy ~mr®t~ant CamF~'', ~ o+-o~~tio~n, end tl~ri~ co~av+~rsic~n ~a bcmda b'-aring itx~1-r 3ntere+~~ ~~+r~, ~rsy bes~sb~- +~~pmr~red anc9 c c~llx~xr~d , Gi4 iii~Y lii~~fl~Y3i~ ~ ~ +Ll~i~i~ ~V+r ~~~ ~~ r~.~[IY " s~sr~ded to x'Y$!~ ~~ Pzs1lQ~,~: "'i ~~G`TI4~1 ~#. Thet uu~d~r t1r~ t~u~hc~r-~.ty 0f tie g®n•~al t~tatt~tee at ~h8 3~at~! o! Arkx~nsa~, and ~~i~ulax-ly~ Acts l~uQ, i31 ~r~d 132 a! the t~neral Aas~~bly exi" fiMdt ~~sto cat Ar~l+~naa~ Par ~h® 3~~ 1'33, as a~tidMd ~a~c~stimo~ ~r~in- after tor~ed ''~€~1i~ ~~8. 1~1 ,U~d 132, +~~ arn~t~xdid "~: ~i~tOx* and ~1l1~P ~ec+c~d lien ~evenc~r bot~d~ bs iaac~ed in bbd total a~aunt ta! ~:~.~p~~, t~ ~ocesd~ 4! the e~tt1~ ,' ~„a~. s1~-11 bit u~rd ~~ ~Y the aaat o! th~r 'Wc~rl~, irusl~xding ~nginr-+rring and ltg~1 Pae~ and ether necs~sa~y axpena~ra; that s~~ boc~de he dea3,gnated F~C it~- +af ~~t Ilea~phie, Ar1r~r~a~e~, -.~.. lhutbl~.~ t~il~,ty Band Ot 196, " tt! bl8 da'~iid ~~ ~" Apri.1 1, 196, n~bered rr~ 1 1~e 5~1, bflth inalu~iv^s, #~- ~ ~- '~i~es t~-~inal~rr rster~red to ~~ "bends„'" ~~ y,, to ~ + denas3z~ttion ~~ #i~++VV eeah except ~0s i~* r~hlsh sttsll W in t~@ t~ent~l~.Yla~~.t'~'! t3~' 5~, to die ~allahle as ~ere3nalter ~l-t out, and ~~ tr~tt~ its nt~-rtriaal r cn ~ 1 t~!' ~atth yrtir as Poll~ts: YS~R BQi~- BC~S. A1BT both i.n+~lutsi~t ~~ ~. t+~ 1~ ~~' ~+~ ~l~,~gp 159 ~~ ~8 1 , ~oc~ a.6 cs~ 1 ~ t~ 6~ ~ 1 , 1C,~4C~a ~~ s ~~ ~Q s ~`a°°a~° 1~5 13~ ~~ 1j1 l~;t3 1~6b ~~"' 1~2 to 17p 171 to 194 19*~4 24,~A~4 1g 212 to 211 21,44E 197a 19T1 1972 ?32 ~c~ '~ 2~ to 27 27 , 2 ~ 7 t~ 344 3Q1 to ~ 2 tJtiKl ~ t'K?4 197 1 ~ ~ 325 ~co ~~~ ~ ~ '~ 5 to 44 , 4+~?Q ~ 1 g'?"7' ~ to ~~' .4flQ ~~ ' ~ , 1 1981 ~$! t+~ X11 ' 2`9s£~44 ~i12 tt 3 541 ;~(~~ f . .r 1 s i ~ f ~ !, The bonds shell bear int~erar~ p~-yable aemi~annuelly nn tray 1 a~ ~c~vve~bsr 1 of each goer at r tallcaring rates per ana-cm~; Ncs. 1 ~0 17fl, inclusive, a~ 2 1/2~# l~'l to 32~, inclusive, at 2 3l3 end gos. 3~5 to mil, inclusive, at Vii. '1'he bta7da shall '~ sigrLed by the ~ay+cr and City Clerk and sealed with t~ caarporate seal at the City; the 3.nfiereat upon the brands ahal2 ba evidenctld by ooupanna ,attached theare- to, the couppns t© be signed by said lKa; by his facsimile eign~tttare, and that ~yt>r shell by the execution of the bonds adept as and ~'or his oom proper e~t+t~e his tecaisrile a2$natt~re ,appearing on said ccupt~na~. '.ate bands shall be payable in 2~-xtul manl9y of the ~i~d S~ritean< tat ~erics. tt the ott~.ce of .the ~'nian i+~ttioxual dank a-t L3#tle ~a~ck, Arl~nsa~t . ! bOt~!!, toge$hex' Mit~'i interest t~3ereotl, ah+~ll be payable aaZely cut vt the Public utility Bond Furxd sa defsned in 9ect2an 21{a) of t~rdinance ~o• ~'1'~, and shall ~"'' be a valid c~im of the holder thereat only against sash Fund on a parity with the outstanding 194 public illty &mda, ~tnd the amount oP trir revenues pledged to said n+d, ic~h am©unt of said revenues is l~sreby pledged and mortgaged far the e~u~t2 and ratable payment ct the bonds of t~hie iaan+e artd the 2954 Public Utility B©nda and shall 'fie used tco< no ether purpose than tQ pay the principal and interest of both boaad issues, except as hereinafter set out. ~4SC~It~N 3. It is hereby ascartaid $nc~ declared that tyre is i~rdiate need, in a~rder to protect the health and property of the inhabitants at the ~~.#~-, for the iaaprovemtlrnt and extension of the r~aterr+c~r~ca and BItM+OP syst-eme Harr 8#rvittg ~ihQ C~.ty 0t ia~ 1~1a, 1ur~anaae ~ thrrref aa~r , an emery~enay euists and this ordinaru~e is ne~aeassry tt~ the preeervatcn of the public peace, health and 8at`ety, and shall take effect and 'ls9r in ta~roe withoutt delay trans and utter .its paoaaga, ns Pesaed: 19~. APBgt~V~Ii: Attest: ' y e tsesl)