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July 7, 1948
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'ue €lt .,ast 6.-U~31 't0 ti18 _u:'~_~aI:11L'.1 ,i:1CU:1t re-: lll_.. t'. 5 .i jr ~.:..;. :0 ~:$ 01 Die.'.: ,1~i 1!, l~:i.li. tG:.+c-'llCa, .. _.... da )reCl~a„_-_: .~ -~t-G' ,eo_:CS _~_' t.J 'i~_'t B .SLll.l - f'i..t,: .. _', ~~, tiD r t'_c vJ_;ii)1:: ~i~ :`l i l ~1&1 1 lrit.,l'Ev"t i1:7tlir l t" lE;.uil~.cC.~~ of t:.~ r:,:._.1.3e_ :;f ~_., July,- 1, 19~i~i "b0__-' '_r1 ~.c "J O, ..., J t... _i~. L..]L',c:; .~ czs::`~~_, , t _ . unalt ul ~ ~~ ti- o~,cl.:t-Jlt _.. ~ P. Cobb CDi,i<z ._ r aC ,_ , _ ... .. "D 'pr lie 1;>~'ll-, 1'c '. ,..5 "'8, +.. 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Iron :,arr~:~ ~ ; e,.lc• ;o, Illi..~i.:, ~ cJ .'i~c,a : s e_~.,~.; ,.il~: C_.fpUUle CD_::5tri'C ~..1 'a ~.~;lu.. or S, .: ::C ,~,Vfi it _, .. ltii tl:., ail ; ,r .:1 (; ,'i Oi .>..''-lip .)'!~t.r dL'.t ill '~ pl:..-its, speck lc.alo_..,, Ella. estl_.wae; of c~_ t f.,~ :: ;OC, GCC 1 0:_ al.. .:tad wtv .:.~ i , . .. ,...,.. ... 1 v _g:.~ 't• X11 t ,.. ' -11 ,.. '~ _~ < 1 '1.L.1'~l ~ ' -re.1_ .x,1,,.1 C : s t of not over :~3G,GOC, i .cl._;ril_t ~)u_c_.- se, .>ractio:•, 1 ':u~ri "! ., l a - 1 __~ l :„ _.,~. ,, 1. ~ _ ....~~, .m :1:7ij.:~, :, r1'::i i:it;J nee•dS tG rci7 ]. c:Ce iGEu3 :;ll i1J Si ,.l:.y ,"1„11 1-:r-~ -.... 1-:. ,. ,._ J 1. _,. 9.d1-t1JL1 ,. ,.,alas ~u iuii:~;:i ,:er+rica t:; :;-1~' devalued __ ~~ o_' t.-; Cit _._,.. ~ _..d _.. __ F e ;ler of Littl :. Huck, tti:. aa.a, 3l1 -.. o __~c i ~:__ .._ ,el i'. ,., . ., ,.;i' o .. , „_ _._~ _ tc era ~ _ e ,1~ ~ls .,. ~ , spccific:a ions s:. ;;tit.! Jf cJJ t Ji' c '= . -1'.t i. ~. ~: i _20-: D'S3d 1 :+: '.. ,. _~.. 1 :, "!';t _i.:_O'1 ~, .i J,)1 _ ~!li c,.:t1:.i .t::d coat of .,~'bC,000, ~,1 t,~a ;:7 _ ls, :~ :..lyic_ ~1~rLS ., .1 .,:,,.i:_ tl,., _ ,;.. ~ , _ '.,u~_, ~ ,, ,o; . ~ __.. 11 --„ _ --i ~ - ~ ~~ :JV~ Jeep .,_- si:l.;l _ :a --)~rDV ' 'a? "b f~tv--r ,ld ~i;it;r _:~„ ~:i<:i:is :,'vim ":;aea _'i_ ;d _ .:1 t:: Citl;' i, e~c _. .. _. ~ .. ., ~OULCll Dl ~e.ltii lilt,!: -'.ad ~. lo:.G '.1 o_.:T 'L'._ ,r :; `_J ., : ~_~ v ~J_L.: _-2i1$.~i ~ J1 4~... 1 .r h.:~ entcrad fiat, co.atr::ct :i"ti. ~'.c: .;oL+;aer a::u~u~t.;;J Cu11.5~t-,lien Df Iit'.,~e =-t e:., ..~'_ ls~_:5, ..D.r ~:e~ s_.le Df x710,000 of ,,,~ Cd::,,:,r rZav~._ue Bca_.da, to br ._„~..~d ': _1 -:, _ s„ D' luaklr _,_ .oo?-ed iti.~:a to ttl; sJ~,t.;l-.: is :ysta_:, s ld ~;r. , te: _.,a; :',:, o:T'_:t: i;u ,:a 1 ~,_. ,. 1:; 7 .,.:, _r.i to ..._,,..~t ...al l~~ 1` - o1L Ja._~., ~ 1 0l' t'1.; ,.,arm 1J~C' t~ ]~1, ~o;,_, i_+,1-..:iv.:, "~ h~i.,-n r nor .,at ottl; .rJ „ l...i~~ v.~ai, );li i' .ii,J .. ',J : .. _'. _.._ ; 1'ii vJ; , ~.;IL U~' ~: i _ vl Y J + ,... ,~ _1:ia~.ila~ `~t~ -., _. oyJ'iI„id 1. Pa.~t t_~ Co.._cil '::cr~b;~ il_:ils _., lc^]~.ss tl:':~ t_.a. i:. .L:a3i~as need ?Dr t_~e rldaitior~ co th~ te~,,D_i;s ~,Jt ...::v„ vu ::1~i-,, :;..ter services in ~:ni to .,::i~ vlt' ~:Ta ~..:.t ~ brisf de .,1rDt1D~ D fle" !:. il;lo:_~ tiD b., '_ - _:,. b.:a Jll:..:_„~ _,:r last _..;i.:n Di' ._ GC C'CC o1 watad .,tur~~ tailh, ~a In esti_.f,ted coat cf .,Y;iC,000, and ray 1_.ci-!_, celtula a:_ta,. __.l~s .:ad 1 1: ':ditio:~_ 1 "'tar f:c:.li~s, at _.n e.,tl._:, ,d ,.os ~ _ _ .,, t ul ,,~C,uGC; .. ,1 it 1~ ., ';;~„ i.~ tio~l oLL ~. ,~:z.-;il to ~L!he said udditiun: end i..l:,_uve:.ia::tr~:. ,, , ,_,. ,,... i1.,Y..u . d,G~, t'_ t i h;=.,. .,.. .;il ud _''t ,~1 id ~:.,~ ~., ._ 1.:~ ~~a:tcll .. _.._.,. t 1 _ __.:, rocl_;.c,,"t_D:.:, .... G..~i::.=t.s ~= cast foY the ~ ,,o~~? ~~lev~.te3 :;:.fur :;t~_ t: _. ., _.. _.,. er .._. _~ .__ .__. ~ er.,:i:s3 _ 1>. f're't ., 1 ". „d d~ t tat tilt .~1c.,'::,, 'i Jt3CliG...t1J a: :~li u:itl:.l~tav; Cif tYU-t ;... .. ~:..' 11J. -t8 J_ t?1D .:0381'.3 ") t!:L: lilt-'; '.11 ~. 1. 7_':D1,13D the tiDU:iCil ilao det6~;:i11L C1. t:_Jt t.l ., CDritrJ,Ct ~1th tit., «iDUlhe_Zl .i. C,.li-T,le;. .~'.Or'1701F,110n Dr t~Te ~ le Ji' lt::: issue Di :.% a:,~,er reve__ua bond: is ~t a fal~ :,r_d le_:.:cr.auia l:_tGra t ._;te .:i :a ~ric,c rl].v':.ad b~* L.,r. 3~iIJi1 'i"ila CoL~ 1 •il :er:;)y fir.` :d tzc7~ ~ tt':ot the v~au o_' t':r . ~_o ;9:_:. lour serving tilt Llt•• Ui•a6..t 1,';;Q;~~:,i:: end it ;. ll:.:ab ltuii ~.: t„ ;°: .1Cl i~.i;9 ~:i'_d t.l-iv tilS Jel'lOi Df US ~J1. P_:3S Df th Ul'cS8!!t i'lUr..a.; la 11Drc ti..,:;i. fo; l;r Tc-_'E, ~:1C 1D 1J, =1t..::..? ,,:a, tcil ~ "t'.1 :. ~~rJ,)D;.a;u rE7c_...c. ~J O_.:1.Si th,t t_le co.:t Df the- ~:dditicnu ;rill be ~110,C~G0 .,:ld vr.t t.ca v,l':a ,? t:•_~ ,ro~ra .:filer ~.., additions ._,va bean co!,glated ":rill ba ;ACS-_,l~u~.~-C. • ,_. Ss;C'i ~_i i. Y_le JtLii]11 ,.;rebyr finks t'tla-t it is to file 'oast i.rtarets of th's ,,1 ;, tD <:ut'iJris:e, issue ;ni delivar at this tit., il. a;cJrd, -.ce ",;it`l t?i:; ..o.ar::c+, _: .1~ ,it 1. tae Sc.'.tlarl Seo~,ri"ti_es CDrocr<.tion o Littla Rack, rt. _~,l..aa, -'l1C,000 In .., :r=rter reve_raa bo_,.~ .,., r_er;i:, flat descrii;ad. ,. - ~ : aDi U:, O. LaTi nn~e:r G.11 ~~l. Li dut:l0^1 ~:r Of t:le St-ate .,f <:1 .. _i:-.-, rid ~:,:'tl CL'sl:. Df _:C"t 1 ~; :,u. 1~1 of tiie filets of +;,'.., Cr~::er: l ~., ., sbly D.' t_ii S"t of y_,_G_:s:".~ 'or the ye!al 18~-S, a ._rt.,~lded r,y later acts of tiie Le.,l.l<,t'ire (her.;la~fter c~.lled "vc~ i~D. 1~-l, a~~e.~ded"j, ~°fo ,.toter revs"~.ue bD1ds cP the ,, , City (hereinafter c:aled "3oads° ), be is ..ad in t'_le tuna. nloLrnt of ;11G,000, t, ~ ~°caocas of .ica 1:~ue shall be 'aced to cro-Ji3e ,cods to t_lc c,o:;t u~ ta- _l.. ; ::.~_DV~. a.,±s, i .:Jl_ldia 1 r~ l .::=' De::er nece;ssul„r cn. erase ; ~...id 'geode: ~ ~~11 be iutad ..~ J J"one 1, 1C~8, b„ _1~..:lber~d ~roln 1` to 11G bot'1 idol.<sive, b: i; t:ic deiw..;inw'tion ~' NICCC a•!c:, ba c~:)l..ble l~r ~~:, i.la._.t prior t i xk,tarit;T ~~s ;,xtin.:_'ter sat out, avid c.;:ture i:_ n._,l:lericul o_de~ o:. ti,~ i'ir~t d~~,• of Junu<_.r;/ in e~c:l of tl_e fol]o 1- ~>e:;_s -nd in the folio; ini; a::io~uts, respactivly: 1950 1. 't0 J, lACI. {r S, OCO 1951 ~ to ]G, " ~,OCO l95r: 11 t0 1J, ° J, CCO 1~'D'J 1c tv ~C, " J,000 1954 ~l to ?7, " 7,000 1955 ..3 to~4, " 7,000 195E ,5 to 41, " 7,000 1.957 4~ to ~3, " 17,OOC 195 59 to 7~, " 17,600 1959 76 to 90, " 1.~,CGC 190 91 t~ loc, " lc,ccc 1961 ].G1 to 1.1C, 1!x,000 That t`le , o:_d~ gear 11t:. is aSt .. .. file ~.. ~t3 Uf tiir•~e laT CBi?tlll'il (::)c~ I~w' .. _~~r.LL~il, ~';dt liltar a5t ba ,~'.Va Dla on Jtinuary 1, 1949, a _d sai;lianiZUally t'.er.,<:fte_ o.l tl; first d:: ;7 .~f J n~-,~:ry :a1d J,i]:r cf ~~,ch year; that the Gonda ba sl; b tna lJFi:/or and Clty Cle_k r,_:d ss~le~. with the corporzta sa.1 oft s Cit-, t`l~t the intare.~~t upon t.ie bonds bo evil:, 1:,:~d by coin ons iherato at .ached., tho ,u~~o._s to ba x ~~no b°,r ~= id T:.a~io,: by Tlis facsii:lil ai~a~ture; t-..t said T,Tawor ahir'.1 by the e:ecuti:l o_ ~.~ bonds :,d~~,t ~., ::.,9. _''or TI15 O,;li 7r0•:ar 'l~_!u.tU13 :11 :; fuC:%i:.iilo :11 `.:.r.tU1'a .a J.'e:-t Ti,~ Oil Sald COUpOnS; thin"t t.:a ~~Q:ls a!ld COl1DOrls bs payable in suc_'1 funds as at the til,le of file raspec•tive payments c:ra 1 e~al tender for the p;ymant of debts due file United States of A,naric. at the office of T!~e Coruaarcl:.l <::"atiun~'7. B<. _] ~~ Tittle floc!:, Ar:-~ans:~s . " 'i'.ia bonds, to~etle- ::pith inta_est tY~ar;o_., shall ba ?a;rz:bla solal;T out of t':e L;~ i"fear Rovar_ue i3o:id Fund a: .1~;`einafter defined, :>n shin' be payable in the first ir:st..ce fro_;, such fulid, ant the amount of the revenues plad~~ad to said fund, '~;hicil alnouilt of s~~id revenues is herei~y pledged and nlortUa~ed for the e.;ual and ratable payment of fife bends ~:cid s i=1.] be u.;ed. for no other pur_,ose than to coy the principal ~n3 intero_t of the ,>onds, except a:; heraillt~~ter set out. Sr;CTIvl; o. 'T`hat said bonds arld coupons be in substantially the follo~,rin 'i'o'nl: UiI'1'D ~]Tf.Tr::i .:~F ::I~ir;FtlC~. COLTTY ul CRITi"iiJEi:` CI`T'Y OF ilL~T T~T~~d'riIS 3io rater Revenue Bond IJo . 1;;;0;,' ALL i•:~;Tf B'. 1'T~SL PRESai1TS: w~). 000 , G 0 Tho-;t the Citv of mast I.~arcmhis, iu t':e County of Crittande~,, :hate of :lrkan;as, for value received, ilareby prorzises to pay, solely from the sr~ecial fund provided therefor as ?ereinafter set forth, to bearer, the sam of Ol~ 'IrrIGUSAIvL DJI;I:ARB on the first day of Jsl:,uary, 39 ~rrith interest thereon ra the rate of t_lree per centum (:`%) par a.lnulu from June 1, 1940, ui.til paid, payable oil Jaluary 1, 1949, and semi-lnnu:]ly thereafter on the first day of Jlnuary a:.ld Ju].T of each year, upon prese_ltition and surrender of the arnesed coupons as they severely becu:.e due. Both orincin~a haraoP and i~aerest '^.araoil s':11 ba n:~.yable in such funds as at the t:ie of t1e respective payi:;ents era le;al under for the pi.ynlent of de'ots dua the United state:; of =,:ueriea, at file office of The Coru:lercial _,ati.or_a1 Bsnk of Little i?oclc, lrl.:nsas. This bond is one of a aeries of 110 bonds, a,;zreatin,~ Ona Hundred Ten 'Thousa :d Dollars 0110,000). al ]. of like tenor a:id ef__:et excerpt as to :ut~turitias, :iLL'lieart:d 'rom 1 to 11©, Goth inclusive, and is is. ued for the plrr,~ose of ou_•c .asiri"an c~nst_ ~~ct ~ additions to t'na existing, ~ ter!',rorlcs systeul -- now servir:,; the City of •iast I:IeL.ohis (llereinafte_ galled file ";!aterworks aysteui"). 'Phis bond aiid file series of ~.v:icil it fori,,s a pay^t are issued pursuant to and in zcaor3::nca vJith :ill la!;ful authority of the of^te of Ar'-:ans:s, <;llca.i~axticul.srly !rith the provisions of bet iio, 1.31 of t11e regular session of ti'le Ce:.ler::l Hssei:ibllr o.f the State of ri~nsas for the year 1933, as ~raendad by later acts of said General Assei:lbly of the estate of Arl~arisa:s, and do not constitute an indebtedness of said City of l'fest P,larl?;':_is •;ithin any constitutional or sta-tutex•y:lint~;tion. T',ase bonds ar.e ~,asv<vble in the first inst.:ice froi~l a fi::cd arlouat o'!' t.e :let r;;v::li'~ias oi' the net:rt;or_.s systegl, sufficient to pay the 'gri::ci,oal of wild interest on the bo::ds, a~i1 fixed elegant of ~ra~ter revenue has been duly set aside and pled ed as a s racial fund for til~~t ~uxpose a_d idertif fad as the "3n fTater Revcnua Bond ~~u:l.d," created by Ordinance rig. 156 , duly adopted by the City Council of said CitTT of ~';'est Iviornnhis on t`:o 7th da,y of July 1940, ullder !•c:~ich thl:: .ion'_ is authorized. to be is~uad, avid Lha s.id City of .Jost r~lelirJ :is has fixed a_:d ha c cuvau~,_*ited end a=:reed to rl:intain r~.tes for eater services !~;hich sklall be sufficient at. all. Baas to provide for 'the cretior. o'' ss,r:r~rte de_~reci~tion fund:;, for nacasssry repl~acen!ar.ts to said rratar~~rorks s:eterrt, iox tht ~ yl:.ant of tl1 - rer on b7e eFOanse3 o:P offer tiara, admi_listr~:t i ca and r~lintanance of aid ~: tei•;;or cs s r: teal, :lnd for t c, ,yl:loh~ of the 1~* lni,lp=' 1 of ;'~l'~ intarest on tha bonds datod. July 1, 19ad, zn.d thi b.,nds of this is~ae, ~.~ the s:.l;.e'zcor:,e dun ni p,yubl°:;. This bo .d is e.~rassly lrre.de nee oti~.ble bar the st~:tiltes undor ~rhich it is issuad, ::nd is issuad vTith the intent filet the la~.vs of th St<:te of. n'r'sa!,s~s ::_::AP govern the construction thereof, and the Citv harehy aF?roes and ;lurr~~..t: the t it has no offsat, couiZterclaim cr defe_rse a6ainst t'_iis b ~_. d. Tl1a bonds o:P ti is is.:ue sh~l7 be cc~]1-ble fc~ o~.yrleilt bafo;:e a~turit;,r, in invar:e nur:lerical ordar, th accruecl inte:cast, from ~urlds frolu eny salrce, <lt pricy of 1~~-~ ceps on the dollar f<t;;e value on any interest,payir,;; date on end after Jul' 1., 199_ to «rd incluai~ Jr:r,:~<srj~ 7- 195~,alid at per on any interest p::yi>i, dL.te on <:r:d after July 1, 1.96^, In the evant a call. i~ ::,ride, tha Cit~r shrall publish notice of such c;-:11 for rad rption once a i~ree'_ for t o ti;aea~ i~ .:ol;le r:a.sp per of e._at~l circulation throughout ti_e Stata of : ~. w. 1•, •9 <:r~ d aubli :_ ed iiz t ,a City of Little rtoci=, ~r'~«nsas, ;ivin~; the number and Irlaturit•j of e4ch bond bei~l„ c<::]lea-, tha first ilublic~:tion to be at 1~:~st fiftaan da~rs prior to tha 3~,te fixad for red.errgitfon, and after tl:~. data ri:;al fol re~7 .:tiatio., aacli br~r7. .Uc c• lle9 :,i.il caase to bear itrt~r~st, pl ~!i?~.-', fl'.1_~': for its p<lyrle_:t r:rs on deposit x:ith the a.%in; ~ ent i t_?~.~ t?.:e. I'i l.~ :'~:.cL_.i? t v, ~..i l~~ L_„ 1, n.. ~~ Lz.,) ~ i-1~ 4aa :.rCl.~ ti.~ i, :: it t CtE, ('. Gi: altl:;il.: ~. tkl 11:':3 raG, ll1rE~ O exist, 1. ~aorl, ~ ..d be .~ erfur~.la1 pls~u:,r!t to and in firs fs .u~ilce of this bold h•::va axis tau., 1~ _~~en~d an3 'peen pezfor:led in d.ae ti,:_a, fbrrn ~~nd ru:iiler, u- re:_tzir,d. b~~ lu:r, r,r_d that s.LTfi~ia_•_t of ti~.e irrco;?e end reveizue ~;:,ic,"". is deemed to be deT:_vzd fro~l tha c;:aratior. of a, id r!atarr~rks systeru h:ls baen nl~d„ad to l:ld vrill be set a::ide into said special fund for t'_le l,e~*lao-a of t~-.e ,wti:cl;~a of r. ,;d irate=ast orl said- bor!ds. This b.:nd shall not be valid until. it alit:l7 11: ve been i,utilenticaed bir the cartifi.cr.be i:.;rcca, duly si;;nod b~ 'hne Jor~uaarcl~:1. 1+~,t1 ..a7 ~ ..., of l;itt]e tocn, hr ,nsr:,. I_c li_::~:~S 1::1~7.r'.Ul~', t:1% L:, t'~ J . Je.,~ r e,1:Il~'I:1 , tjr i.nS e'-5, liar It :_ vlty V., 1_Qi.l ~ l.: ~ Cr- r t!.. iio.; ;? to b2 r:i ae? b;~ t _e l.;~loi~ ra..d City Clerk th..i.of ~.nd sa ? a3 with t::e co_ n~s~< to seal of s id City, and ha; cuu sad tea o:ruuo~l:l hereto t~ttached to be exocuted b tlt~ f c: i:;,il i~;aa tuts of the s.,ld l.sl:~or. all as of tha first day of Jura, 7 rJ4rs. • :;l_'~ U~' ;..T ::i,tl'31~, -il ._..r.~ i3Y ~ .L.1 d- C~-~ ~._.~1____._______.___.__._._.. I.11 ~ or (Sail) bttest: y Cit=t e: _. (Foul of Cou,~on) ldo . ~,, yr ~_, ~~-•y Oli the first d,,IT pf u7y i 19 t1_Ie City of ;lest P.;elmi~ls- Critte;_dan tiCl'.Iltzs, ~?r'-f:^,_.. , LU~6•=,° t=~a bond t0 -.hi Cl'! ti_-11:' COUP",Oa i;; £'tt£:C:]Cd 13 `Ov:1er C:.~1]ed ~'Or -tl t~. yl:iE `1t, ~101,.1:i8- tt-~, >, t: /, Lo•)'i';r tl.c :lua of JUI?.-:RS, ,i::~.r o:rt ~-:f t_T~e far-1 :~ :c if_,;d il: tl.bo_r! to ~,~!hich :';i> aotn~on _... __ ap?artul,ls, at the ailioa .~f' iae Coia:::ai~ci~::1 lutional .,<:_,lr of 'ittle .:ock, =.rkansas, in such funds ;., ?t , the tla of ~ ywla_lt :;el•eof ~r~ legal tenrlsr for tkl.. 1ayr;lant of da:ltd iue t.a .,nit::d ~ •taU of' --nlarica, b~in:_ iiltere:;t tnau uc Or its 39i '+!~t~r •avanaa ., J_l:! :l.lt 1 . u;~ 1, 19.3, :Id .1.~aberad L`ITY OF 'HEST NrC,I~IP3€IS; 9RKA'I&3F4S B y erzyol~-----,._..___ (.Hirst coupon sn~ll ba fog srjva_L _i~_r.,.:y* ii~a_,~c. .... 'a~-os'.. ai~_~~~.~., ..:,~ ba 11 ,. ~ .~ .. .. :~n tha bacl: of sL~id b.~:ds is to upy~aar th_; folio i_:~: CY:eti'~.I'iC~::'_ti This ie qae of the one hundred tan bonds aggrogating $110,000 described within. TBS CO~i18RCIAL NATIONAL, HAIJK OF bITTLS ROCK, ARSANSA3. Trustee BY Yioe Preaideat do 6eoretary bittle Rook, Arkageea 1946. r _. ---------- -- -- -- - - -- - SECTION 7. The City h:s established and now has on file with its water. department a schedule of ratan far the various types of service Yor water as supplied by said department of the City, and the Council hereby Pinde them to be reasonable and the necessary minimum rates to be charged, and the Council hereby confirms and continues said rates. This Council further finds and declares that the orator rates as net out in the schedule above mentioned will product a total revenue aufPlaiont to pay the total operation, administration and maintenance axpenae of the Works and provide for the payment o! the bonds dated July 1, 1946, and the bonds herein authorized to be issued, both principal and interest, as the same fall due an d are payable, and to create all funds herein provided. ~-• S=aept ea herein authorized, said ratoa shall never be reduced until all bonds herein authorized and all. coupons thereto attaohed have been paid in i'ull, and shall when necessary be inareeaed in an amount sufficient to provide Por the maintenance oY the funds hereinafter described. Whenever the total amount of the outstanding bonded indebtedness hen been reduoed to sixty per oentum (8096) of its original total or less, exclusive oP iatereat, and it shall be made to appear to the Trustee that the earning capacity of the Works is suPPiciently large to justify it, a reduction may be made in the rates hereinabove described, by and with the consent of the Trustee, and to continue for euoh time ae the Trustee in its sole discretion may deem consistent with the ability of the City to meet bond sad interest payments pro~tly, provided no reduction 3n rates ~ all be made that will produce an estimated net revenue, after sei;ting up neaessary funds for operation, administration, maintenance and depreciation of the Norks, lase than one hundred-fifty per oentum (1500 of the average annual requirements for all the payment of principal and interest oY all water revenue bands of both issued then outstanding, and although a reduction in rates may be granted, the original rates hereinabove described may be restored at any time later, upon the sole demand of the Trustee. The discretion of the Trustee shall be final, either ea to granting, refusing, or terminating e~ reduction in rates. SECTION B. None of the lgcilitiea or se roiaea afforded by the Works shall be furnished without s reasonable charge being made therefor. In the event that the City or any department, agency, or instrumentality thereof shall avail itaelP oP the Pacilitles or services afforded by the Works, the reasonable value of the services and facilities so afforded shall be charged against the City or such department, agenoy, or instrumentality, and shall be paid for as the charges therefor accrue. The revenues so received Prom the City shall be deemed to be revenues derived from the operation oP the #orke, and shall be used and aooounted for is the same manner as ar~r other revenues derived from the operation a! the #arka; provided, however, that nothing herein shall be construed as requiring the City or say department. agency, or instrumentality thereof to avail itself of the facilities or services afforded by the #orke. SECTION 9. All moneys paid ea acoru~d interest on the bond issued hereunder ~ all be` placed in the 396 Water Revenue Bond Buad, hereinafter oreated, and applied to the payment of iatereat payable qa such bonds on the next interest payment date. SSCTIQN 10. The Treasurer of the City shall be the custodian of the revenues derived Prom the #orke, and shall glue bond fair the faithful discharge oP all duties sa such custodian. Such bottd shall be in an amount not lean then $10,000, with a corporate a urety authorized to do business in Arkansas. SECTION 11. #ater R en a Bund. grom and after the delivery oP any bonds issued under the provisions oP this ordinance, the revenues of the waterwa~rks system of the City and sa 1t may hereafter be improtre d and extended, shall be kept separate from the general fund end all other/funds of the City and shell be net aside and placed Into a epeoial and separate fund known ea the "Water Aevenue Funk" and such pavenuea are hereby pledged and shall be applied, first, to the payment of the cost of operation, admialetration and maintenance od' the #orke. SECTION 12. #ator Sr~stam Depreciation P~C-d. After making duo provision for the operation, administration and maintenance cd the Works, there shall be paid Prom the Water Revenue Fund into a fund which is hereby created and designated."Water System Depreoiation Fund," on or before the 10th day of snob month while aiyy of the bonds issued under this ordinance shall be outatandin , Yive per centum (b~i1 e! all moneys derived from the operation o! the Works. ldoneyra in the Water ~yatem Depreciation Bond shall be used solely Por the purpose of paying coats of replacements made neaessary by the depreciation of the #orke, except se otherwise provided herein. SECTION 13. Bection 10 of Act Nq. 131, ae amended (which is Section 19-•4210 of 2 Arkansas Statutes air Section 10009 of Pope's Digest 1, provides that when a municipality shall decide to construct improvements cm bettsrmenta to a waterworks system, it may issue revenue bonds to pay Por the same under two optional plena for pay-gent, and this Council hoe elected to exercise the rights conferred by provision (s) of said section, and in accordance therewith 1t has previously made a finding that the value oP the present sainting Works is $244,138.69, and that the value of the proposed additions is $110,000, which will make a total value of the entire Works, after the additions have boon completed, oP $354,138.89, eo that under the provisions of the eta9suto dust quoted, 88.94~i of the net revenue derived from the entire Works when the contemplated additions have been completed and put in service will be considered as revenue from the now existing plant and 31.06+ of such net revenue will be deemed to be income derived exclusively from such new additions. The net revenue from the #orke after the completion of the additions, which will be that revenue remaining after making due provision for the operation, administration and maintenance of the Works and depreciation thereon, shall be divided, and 88.94; thereof shall be paid into a fund which was created by Ordinanoo No. 121 of 1948 and designated as "Water Revenue Refunding Bond Fund," and 31.08~n thereof shall be pn id into a fund which is hereby created and designated "396 Water Revenue Bond Fund," provided, that if at any time there should be a deficit in either fund and there`ie a surplus 1n the other Pund which under tbo provisions of Section 17 of this ordinance may be used by the-City for any municipal purpose, then such surplus shall be used to meet the dbPici<i in the other fund. SECTION 14. Since the City operates its water and electric systems jointly, the Council hereby finds and declares that the necessary general administrative expense for water and eleotric operations shall be allocated ea follows: 4096 of this expense shall be charged against the revenues Prom the water system and the remaining Ei09b of 'the expense shall be charged agalnat the revenues from the electric system. SECTION 15. Water Revenue Re d de Bond Bond. (1)After mating due provision for a operatlon and maintenance of t or an predatiai- thereon, there shall be paid from 68.94 of the Mater Revenue Fund, beginning with the completion and putting into eeirvice of the new additiggna to the Works, into a fund whioh was oreated by said Ordinance No. 121 of 1948 and designated hater ~+avenue Refunding Bond Bond, the some in the amounts and at the time hereinafter stated in aubseotion (2) for the purpose of providing Panda sa a reserve and for the payment of the principal and interest oa the July 1, 1948 bonds ae they mature according to the following schedule: YEAR BOND NOS. i'fiFNGIPA$ INT~ST TOTAL (BOth Jan. 1 oP Jan. 1 sad July.1 inaluaive) ~~ year of sash year 1947 1 to 19 # 191000.00 ~ 1,597.50 ~ 1,455.00 ~ 22,052.50 1948 20 to 39 20,000.00 1,455.00 1,305100 22,760.00 - 1949 40 to 80 21,000.00 / 1,305.00 1,147.50 23,452.50 1950 81 to 82 22,000.00 1,147.50 982.50 24,130.00 1951 83 to 105 23,000.00 982.50 810100 24,792.50 1952 108 to 128 23,000.00 810.00 637.50 24,447.b0 1953 129 to i50 22,000.00 837.50 472.50 23,110.00 1954 151 to 172 22,000.00 472.50 307.50 22,780.00 1955 173 to 193 21,000.00 307.50 150.00 21,457.50 1958 194 to 213 20,000.00 150.00 ----- 20,150.00 (2) Thera shall_ba paid from the Water Revenue Fund into the Water Revenue Refunding Band Fund, to be deposited with the Trustee, on or before the 10th day of each month until ell said bonds, with interest thereon, have been paid in full, or provision made for such payment, a sum equal to one-fifth (1/8) of the neict installment of interest and one-tenth (1/10) of the na>Gt installment of principal of the bonds; provided, however,that when in any fiscal year no principal or interest of the bonds of acid issue is 1n default and the amount in said Water Revenue Refunding Bond Fund equals the total amount required for making all principal and interest payments a~ the bonds of said issue during the aurae eding twelve moatha, the amount ao payable each month into said fund shall equal cue-elxth (1/6) of the next installment of interest and one-twelfth (1/12) of the next installment of principal. The City may establish thin reserve, equivalent to the amount required for all principal and interest payments on the bonds of said issue during the next succeeding twelve months, either ae herein set up or, at its option, it may set up said reserve from future net revenues oP either the water or electric systems, or both. The City further agrees that the payment herein provided to be made into the water Revenue Refunding Bond Bond shall be made by the City in equal monthly installments, sufficient to meet the nett rsquiraments of principal and interest, by depositing said amounts with the Trustee and paying agent; providded, that such deposits shall be at the sole risk of the C1tyt and shall not operate ea a payment of the bonds or aoupona until eo applied. In addition to the foregoing, the City shall deposit with the Trustee the sum of X100,00 per month whenever necessary eo ae to aaoumulata and maintain a contingency reserve of X2,000.00 in such water Revenue Refunding Bond H11nd, to be used for paying agentls fees or other incidental expenses. Any funds in the reserve hareinabave set up shall, uppon request of the City, be lnveated in IInited States Government Bonds of such type and maturities ae the Trustee and the Maya~r of the City shall mutually agree upon. (3) If the revenues of the Works 1n any month are insufficient to make tba required payment on or before the 10th day of thq following month into the Hater Revenue Refunding Bond Bond, then the amount of any deficiency in the payment made shall ba added to the amount otherwise required to be pald Into the Water Revenue Refunding Bond Fund on or before the 10th day of the next month. The amount by whioh payments in any tiaaal year ezaeed the aggregate amount oi' interest and prinoi al payabU in the nezt auooseding fiscal year shall be held in said hater Revenue Refunding Bond BunS~~inaluding the raeervel shall be and remain sufficient to p 8y the principal of and interest on all the bonds then outatandiag, the QitY shall not be obliged to ~e say further payments into the Water Revenue Refunding Bond Fund. If, for any re+eson, the City shall fail at any time to make a~ of sash pagments.iato the Water Revenue Refunding Bond Fund, any sums then held as a reserve shall be used to the sxtoat necessary in the payment o! the interest on and the principal of the Monde, but such reaarve shall be reiiuburasd from the Water Revenue Fund out of the first moneys avallabls 1n said wet+r Revenue Fund after mel~ng the payments hereinabove required to be made. All moneys is the Water Revenue R~funding Bond Fund shall be used solely for the purpose of paying the interest on and the principal of said bonds sad the paying agentla fees SECTION 18. 3 water Rsvonua Bond H~iad. (1) After making due provision for the operation, administration and main enanae o'~l`i9~orTce a'aa'3epraciation thereon, fhei'b ghall be paid: (a) from 3~ 08~, of the water Revenue Fund begginning with the completion and pu ~C1ng into earvlce of the new additions to the Works, andd (~) after sll the present 1-~ water revenue refunding bonds and all interest thereon shall have been paid in full, from the entire balance remaining in the water Revenue Bond, into a fund whioh is hereby oreated and designated "3~ water &ev®nue Bond Fund," the soma in the amounts and at the time hereinafter stated in aubseotion (2) for the purpose of providing funds ae a reserve and for the payment oi' the principal end interest oa tha.bonda authorized by this osdiaaace as they mature ea44rd1ng to the following sohedul8: ~~ air a ressrrte and used solely as herein provi dad; provided, however, that when the moneys held is the Water Revenue Refunding Bond Bond,. YEAR BOND NOS. PRINCIPAL INTII~FST TOTAL (Both Jan. 1 of Jan. 1 and July 1 incl usiye eaoh year of eaoh year ~ 1949 ~ $ 1,925.00 ~ 1,850.00 $ 3,575.00 i 1950 1 to 8 5,000.00 1,650.00 1,57b.00 8,225.00 ~ 1951 8 to 10 5,000.00 1,575.00 1,500.00 8,075.00 ~ 1952 11 to 15 b,000.00 1,500.00 1,425.00 7,925.00 1953 18 to 20 5,000.00 1,42b.00 1,350.00 .7,775.00 1954 21 to 27 7,000.00 1,350.00 1,245.00 9,570.00 1955 28 to 34 7,000.00 1,245.00 1,140.00 9,385.00 1958: 35 to 41 7,000.00 1,140.00 1,035.00 9,175.00 1957 42 to 58 17,000.00 1,035.00 780.00 18,815.00 1958 59 to 75 17,000.00 780.00 525.00 18,305.00 1969 78 to 90 15,000.00 b25.00 300,00 15,825.00 1980 91 to 100 10,000.00 300.00 150.00 10,450.00 1961 101 to 110 10,,000.00 150.00 ----- _10,150.00 ($) Thera shall bo paid from the Water Revenue Fund into the 3~i Water Revenue Bond Fund, to be deposited with the Trustee, beginning on or before the 10th day of the month alter the completion and putting into service of the water tank and new mains, and continuing on or before the loth day~each month thereafter until ell the bonds with interest issued under this ordinance have been paid in lull, or provision made for such payment, a sum equal to one-tltth (1/5) of the next inetal3~aei~t of interest and one-tenth (1/101 of the neat installment of prinaipal of the bonds; provided, however, that when 1n any fiscal year no principal or interest of the bonds of this issue is in detaul# and the amount in Bald 396 Water Revenue Bond Fund equals the total amount required fair making all prinaipal sad interest payments 071 the bonds of this issue Bari~$ tie suooeeding twelve months, the amount so payable eaoh month into said i'und shall equal one-aizth (1/e) of the neat installment of interest as d one-twelfth (1/12) of the coat installment c2 prinaipal. The City further agrees that the payments herein provided to be made into the 396 Water•Revenue Bond Fund shall be made by the City in equal monthly installments, beginning upon the completion sad putting into service of the water tank and new mains,, auYPioioat to moot the next requirements of prlnalpal and lntereat, by depositing said amounts with the Trustee and paying agent; provided, that such depoeita shall be at the sole risk of the City and shall not operate ae s payment of the bonds or coupons until so applied. Any funds in the reserve hereinabove net up shell, upon the request of the City, be invested in United Staten Oovarnment Bonds of such type and maturities as th9 Trustee and the lQayor of the City shall mutually agree upon. (3) If the revenues of the Works in anq month are inaurficient to make the required payment oa or before the 10th day of the toll owing month into the 3~ Water Revenue Bond Fund, then the enouat of atty defiaienay in the payment made shall be added to the amount otherwise required to~be paid lnto the 396 Water Revenue Bond Fund on or before the 10th day of the next month. The ateount by ah ich payments in 81~y fiscal year ezceed the aggregate amount of interest and principal payable in the neat eucaeeding fiscal year shall be held in 'said 396 Water Revenue Bond Fund as a reserve and used solely as herein provided; provided, however, that when the moneys held in the 34b Water Revenue Bond Fund, 3naluding the reserve, shall be and remain eufticient to pay the principal of sad interest on all the bonds than outstanding, the City shall not be obliged to make any further payments into the 396 Water Revenue Bond Fund. If, for any reason, the City shall tail at any time to make any of eaoh payments into tke 396 Water Revenue Bond Fund, any auras than held se a reserve aha11 be used to the eatent necessary 1n the payment of the interest on sad the principal of the bonds, but each reserve ahali be reimbursed from the Water Revenue Fuad out of the first moneys available in said Water Revenue Fund attar making the paymonta hereinabove required to be made. All moneys in the 396 Water Revenue Bond Fuad shall be used olely for the purpose oP paying the interest on and the principal of the bonds issued under this ordinance and the paying agent's teen. BECTION 17. Attar the City shall have eatabliahed the Water Revenue Refunding Bond Fund and the 3~r Water Revenue Bond Fund as hereinabove sat out, and shall maintain eaoh funds, the City may use .the surplus revouue arising from the operation of the Works for any muniaipal purpose. It any su rplus shall ba aaaumulated 1n the Water System Depreciation Fund over and above the amount w~uioh shall ba necessary to defray the cost of the probable rep~aaemsnts during the then purront fiscal year and next ensuing fiscal year, and which is the judgment of the .Council is not needed for replacements, auah surplus or encase may be transferred by the Council sad paid into the Water Revenue Refunding Bond Fund as hereinabove defined; provided, however, that such transfer or payment into said water Revenue Refunding Bond H1u-d shall be is addition to all other payments hereinabove required to be made into said Water Revenue Refunding Bond Fund. 8ECTION 18. In the event of a default in payment o! Dither prinaipal or interest of thin 39b water revenue bond issue, the City shall imnedlataly begin to pay a rental on the orator atarage tank, ...which shall be equivalent to an annual charge c4' BY6f~ thtl.deprealated value, which will be the original coet~plua ear 1 star additions thereto, lase a depraalation of 396 annually on the original asst, and this rental shall ba a first oharge oa the Water Revenue Fund as hereinabove defined until all daticlenaies in payment o! principal and interest on the 3~i water revenue bonds have bean eared. Upon the auring of the default, all amounts a o paid shall be applied first to the payment of interest, next to the payment of principal of the outstanding bonds. B~ECTICN 19. Under the pr oviaiona of the statute, being 8eotion 7 of said Act No. 131 as amended, there is created a statutory mortgage lien upon Lhe storage tank and mains to be acquired and oonatructad from the proceeds of the bonds authorized to be issued by this ordinance, which shall eziat in favor of the holdora of ea id bonds an$ each of the. w, and to and in favor of the holde.re of the ooupona attached to said bonds, and auoh additions, namely, the storage tank and water mains, shall remain-aub~eet to auoh statutory mortgage lien until the payment in full oP the principal and interest of the 3~i water revenue bonds, and this lenmay be enforced according to the proviaiona of said section. 7. BECTICN 20. The City hereby agrees to make all payments on bonds and intareat only through the paying agent. All bonds ,paid or purchased, either at or before maturity, shall be canceled when auoh payment or purchase is ma da, together with all uawuatured coupons appertaining thereto, and held by the pity Treasurer, and shall not be reissued, All unpaid interest coupons maturing on or prior to the date of auoh payment or purchase shall continua to be payable to the respective bearers thereof. SECTICN 21. The bonds, together with interest thereon, era not general obligations of the City nor do they constitute ea lndebtedneaa of the City within the meaning f any constitutional or statutory provision or limitation, but shall be payable solely out of the 3~ dater Revenue Bond Fund as hsreiabefore provided, and shall be a valid claim of the holders thereof only against said Fund, and the amount of the revenues pledged to said Hind, whioh amount of said revenues ie hereby pledged for the equal and ratable payment of Lhe bonds issued, and shall be used for no other purpose than to pay the prinoipal and interest of the bonds as the same accrue, except ae provided in this ordinance. SECTION 22. All revenues from th* Works shall be deposited in such depository or depositories ae may be laifully designated from time to ti:.ie, aubjact, ha:^;ever, to the ~;ivin;; a?' aac~.u~ity by suc~z depository as now or as hereafter may be required b;,; lae~, and provided such dapos~.tory or depositories shall hold membership in the Federal Deposit Insurance Corporation. All deposits shall be made in Lhe name of the City and be eo designated as to indicate the particular fund to whioh the revenues belong. SECTICN 83. It is raaognized that with the continued growth of the Gity of West bleaphie, it will be nsceaeary !or said City to issue from time to time additional water revenue bonds to finano• and pay the ac~st of oonstrueting additional improvements and betterments to the Aorks, and the right of the City to do so is hereby ®zpresaly preserved, subject to the following provisions, namely: In order tc- insure the payment o! the iatereat on and prinoipal of auoh additional bonds, the City shall ieaue auoh additional revenue bonds while nay of the bands of the issue of July 1, 1948 and of this ieaue remain outstanding only 1f the maturities of auoh additional bonds shall begin after the last maturity of the revenue bonds authorized by this ordinance and if, at the time of the paeaa8e of an ordinance authorizing auoh additional boada, the revenues of the works for the lineal y~er immediately preceding the passage of said ordinance (in -this paragraph called the "Revenues") shall have been auffioient in amount ao that, if they were Beamed to be the total rovenuea derived from the entire waterworks system after the than ooatemplatod betterments sad improvements had been completed, they would be at least equal to 150 of the amount required to pay the coat of operation, adminiatration, maintenanos and depreciation of the Works for the next ensuing fieoal year, and to pay the combined principal sad interest maturity roquirementa of the remaindas of all then outstanding bonds end the bonds of the new ieaue. SECTICN 84. The Morks shall be opbrated upon a fieoal year basis, beginning January l of eaoh year and ending on and including the following December 31. BECTICN 2S. It is covenanted and agreed by the City with the holder or holders of the bonds, or agyr of them, ghat it will faithfully and punctually perform all duties with reference to the Works .required by the Constitution and statutes of the State of Arkansas, including eating and collecting of reasonable and sufficient rates lawfu117 establfahed for services rendered by the Works, segregating the revenues of the system and their application to the respective funds herein created. BECTICN 28. The City will maintain the elevated water storage tank and water mains 1a good condition and operate the same in an efficient manner and at a reasonable coat. So long ea a of the bonds era outstanding, the City agrees to naintain fire, lightning and tornado insurance on said tank in an amount whioh normally would be carried by a private company engaged !a a similar type of business. These insurance policies are to be taken with oompaaiea approved by the Trustee, are to nary a clause making them payable to the Trustee ae its interest may appear, are to bo kept continuously in force, and are either to be planed in the custody of the Trustee or the Treatee shall be furnished a certificate of execution of said pollciea. In the event of lose, the rooseda of uoh insurance are to be a lied solely towards the reconstruction, replacement or repair ofpthe tank. fa such event, the City will, with reasonable promptness, oause'to be commenced and ooupleted the reoonatruotion, replacement sad repair, sad the Trustee shall pay auoh money to the City for such purposes upon the eatimatoa o! a mutually selected engineer or architect. Nothing herein shall be construed aa,rsquiring the City to expend any funds for premiums on its insurance an..the.Worka.,,.Bhich are derived arcs souroea other than the operation of the Works, but nothing heroin shall be oonatrued as preventing the City from doing so. SECTICN 27. 30 long ae any of the bonds are outstanding, the City will not mortgage, pledge, or otherwlss encumber the Works or any part thereof or any revenues therefrom, except sa herein provided, and will not sell, ieaue, or otherwise dispose of any substantial portion of the same. BSCTICN 28. The City will keep proper books of reoorda and aooounta (aepare~je from ail other reaorda and accounts) in which complete and correct entries shall be made of any transactions relating to the Works . BECTION 29. If there be any default in the payment of either the prinoipal of or iatereat oa any of the bonds, the holder or holders of nay of the bonds may by proper dUt~ compel the performance o! the duties of the officials od' th s City, as net forth is said Act No. 13I, ae amended. If there be default in the payment of the principal of or interest oa the bonds or if the City shall fail to keep nay other obligation which it herein assumes, sad auoh default shall continua for thirty days thereafter, nay court having jurladiotion in atiy proper action,. whioh may be instituted either by the Trustee oa behalf of ali the bondholders, or by any holder of a bond is default, may appoint a receiver to administer the works on behalf of the City, with power to charge and collect rates euflicient to provide for the ezpenaea of the reoelvarahip, the payment of the bonds and interest thereon, and for the payment of the operating ezpensee~ and to apply the income and revenues in conformity with said Aot and this ordinance providing !or the issuance o! said bonds, but when all defaults are oared, the reoeiverahip shall be ended and the management and control of the Works restored to the City. SECTICN 30. The Oity further oovananta and agrees that ~f default is made 1a the payment oP any bond or coupon, or if the City fails to meet any sinking fund requirements, the holder of such based may declare that bond immediately due and payable, and such bonds shall thereupon be immediately duo and payable and in default, and either the Trustee on behalf of ail the boadholdere M or any bondholder for himself may institute suit to enforeo the pledge lien herein granted. STCTICN 31. The bonds in the face amount of X110,000 shall be delivered to Southern Securities Corporation of bittl• Rook, Arkansas, upon payment by them in caYh of the full purohas• price of said bonds, together with the accrued interest on said bonds. The aaney received by the City for aoarued interest shall be paid into the 3~rWater Revenue Bond end. The balance of th• prlce reoelved for the bonds shall be deposited by the City in a speoiel fund to be known as the "Construction ~gd Account" and to be used solely for the purpose of paying the cost of the additions which the City has planned. SECTION 32. Tha boada authorized hereby shall be callable as set out in the face thereof. 3FCTION 33. In order that the pledge of net revenues shall ba a matter of record, a certified copy of this ordi~noe shall be planed of record in the office of the Circuit Clerk and ea officio Recorder of Crittenden County, Arloinsas. .SECTION 34. Wherever referenn• is made in thin ordinance to a Trustee, it shall refer to The Commercial National Bank of I,ittls Rook, Arkansas. The said True tee shall be responsibly only for wilful misconduct in the exacptlon of this trust. The recitals of Pact herein contained, and oontainad 1n the boada, are statements of the City and shall not be oonatraed as being made by the Trustee. ~® Trustee shall not bs required to effect inauranos against fire or damage to property, nor to advance any money to pay insurance premiums, nor to pay any charges or special aeeeesmanta against said property, nor to see that this pledge of revenues is properly recorded sad kept in force as a pledge, nor shall it be required to take notice or be dosmad to have !gad notice of any default of the City is the failure to perform any of the conditions of this ardlnance, unless said Trustee shall have been speciticall~ aotiIIied in writing of said default; nos shall it be required to take any action hereunder until it has bean indemnified to eta satisfaction by the holders of the bonds herein mentioned, or some of them, against lose or damage oa account thereof. SECTION 3b. It is hereby declared that the provisions of this ordinance are separable, and, if any provision of this ordinance shall for any reason be held illegal or invalid, it shall not affect the validity of the remainder of the ordinance. SECTION 38. The Mayor is hereby directed to publish for one insertion in the C~RITTBNDEN COUNTY TIMES, which is hereby found and declared to be a newspaper published in and of general circulation in the City of bleat Memphis, Arkansas, a certified Dopy of this ordinance, attached to a notice signed by him, 1n substantially the following form: (The date sit for the hearing shall be more than ten days after tho date of publication of the notice and ordinance.) N O T I C 8 Notice is hereby given that the City Council of the City of bleat Memp his, Arkansas,-has adopted the ordinance hereinafter set out.; that said City contsmplatea the issuance of the bonds described in said ordinance; that any person interested may appear before the Council on the 21st say of July , 1948, at 7:30 o~olock PtM. at the usual plead of meeting in the City of Host Msug~hla and be heard. At such haering all ob~ectiona and suggestions will be heard and the said .-Council will take •uoh nation as 14 deemed proper in the premises. HATS this 7th day of July 1948. 8L P. M. Dacus Mayor of Wort Me~hia, Arkansas Attests s/ x. 0. Coats City Clerk SECTION 37, All ordinalscee or parts of ordinances in conflict herewith are hereby repealed. SECTION 38. It is hereby ascertained and declared that there is immediate nee~.ia order to protect the. health and property of the lahabitanta of the City, for the additions to the waterworks system noR serving the City of pert Memphis; therefore,-an emergency exists and this ordinance ie necessary for the preservation of the public peace, health and safety, and shall take affect and be in Toros without delay from and after its passage. Paaesds ~ July 7, ~, 1940 Approved: 1~,_ P. M. Dacus Mayor (8ea1) Attests SL.y~.. er CBEiTIFICATB BTAT$ OB ARKAK9A8 County of Crittenden The undersigned, City Clerk of the City of Weet Memphis, Arkansas, hereby certifies the above and foregoing to be a true, correct, and complete Dopy of Ordlaanoe No._~b8 , which wsa duly passed by said City Council on the 7th , day of Ju1~_, 1949 , a a~~u~y called and constituted meeting at which more than two~Tii~e of the to n er of mambsrs of the City Council elect wore present and voted Yor said ordinance, and said ordiaaaos is now of record in Ordinanco Book No. $ page No. 90 , of the records of said City. CSRTIP'IED under my hand and the seal of said City this 7th day of July 1949. S/ H. 0. Costa City Clerk 1881 I A letter from Rev. •. A. MoSay, Postor of Crac• Baptist Church reads ae follows: July 7, 1999 TO THE MAYOR AND CII'Y COUNCILMEN OF WEST 1+B~HISs Ws, the members o! C•rac• Baptist ChurdL of West Memphis, Arkansas, roepectfully request permission o! the City Council to erect a knock-down army dwelling oa the property at 19th and Polk 8treete for the purp~ee of beginning a mission. This mission is to ba under the supervision of (iraca Church, and after said mission grows sufficiently, it is the purpose of Grace Church to erect a Church building on the aforesaid property. ReBpectfully submitted, C$tACE BAPTIST CHURCH s/ W., ~A .~Mc~Ba W. A. McSay, aPa'~ or: The Mayor advised Chia would be in violation of a covenant running with the lend in this area, and that the Council could not logally grant such permission. The Building Inspector, a. O. Kietzman, presented the Building Permits he had authorized to be issued. Motion was made, passed and adopted to confirm the eotiona of the Building Inspector in the issuance of the following Building Permits: halter Whitfield L. W. Stewart P. T. Anderson Withheld for further d~acrlption. w. V. Chapman George Taylor C. $. Codaey Leali• Wilson Holland Lmplemsnt ~%o. Bill Patton Susie Jones 15E __ _. -- _ -- -- ~ St. Louis, Ban Francisco Raii Way Co. Refused. speclficatione do not meet with fire zone ~ ~ ordinance. Can build provided building meets with fire zone regula~biona. ', Mrs. Vergie Wright Viola Brooks Rubon Montgomery Mrs. l3oidie Meredith 7. B. McDaniel Jim Jones J. C. Collins J. F. Wright The Council was advised that fans were badly needed in the Court Room and in the City ~gineer's Office; therefore, motion was made, passed and adapted authorizing (}. Q. Kiatzman to purchase and install Yana in the Court Room and Bnginaer's Office. ,iderman McAuley advised the Council that malty complaints had been made to him regarding the unlawful parking of automobiles oa Broa dway-and suggested to the Counoll that the abuses be eliminated. Other members a2 the Oouncil including the Mayor espresssd opinloa that parking regulations were badly needed, and it was agreed that McCaa Chevrolet Company, Chalmers Motor Company, Bragg 9uto Company, Waver-Aeihl Motor Company, Teton Auto Company and Bernard High sales be requested to attend the nest meeting of the City Council.~~ Chief of Police Holland was instructod to have one of his Policeman check for parking violations at intervals during the day ane give parking tickets for those found violating any of the parking fegulations. No further business appearing, the meeting was adjourned. /'~ Mayor 6TTffiTs C ty Cierk ~PPAOVE9: JULY 21, 1996. r