October 1, 1962MINUTES OF A SPECIAL MEETING OF THE CITY COUNCIL OF THE CITY OF WEST MEMPHIS, ARKANSAS,
HELRATSfiE.~ITY HALL IAi~AID CIT~_ON_TH~~T DAY OF 72~'~~•QQ~.M•
The City Council of the City of West Memphis, Arkansas, met in a special session in
the City of West Memphis at 3:00 P.M. on the 1st day of October, 1962. The meeting was
called to order by City Clerk Charles F. DeGraff in the absence of Mayor Howell B. Price.
The following were present: Aldermen: 0. I. Hollinger, R. C. Bowie, Bob Eden, Earl Felts,
Kirby Leggett, Paul Matthews, Y. G. Sims, and C. H. Rowton.
Absent: Mayor Howell B. Price.
It being determined a quorum xas present, the following proceedings were had to-wit:
City Clerk Charles F. DeGraff announced the first order of business would be an
election for a President Pro Tempore due to the absence of the Mgvor. Motion was made by
Alderman Rowton, seconded by Alderman Felts: That Alderman Bob Eden be elected President
Pro Tempore. Upon vote, the voting was as follows:
President Pro Tempore Eden informed the Council the Special Meeting had been called
to discuss matters pertaining to the proposed airport. City Attorney Dillahunty advised
the Council of the terms and conditions of the Offer of the Housing and Home Finance
Agency, Community Facilities Administration, Public Facility Loans Program, Project
No. PFL-Ark-~yl., dated September 21<, 1962, for construction of airport, including ranxay,
taxiway, parking ramp, hangers, utilities, buildings and accessories with Borrowers
Airport Revenue Bonds in an aggregate not to exceed $321,000, bearing interest at the rate
of 3-3/8~ per annum, of such description, secured in such manner and containing such
provisions as shall be satisfactory both to the Government and to the Borrower. The
Council xas intoned there would be no additional millage assessed for taxation purposes,
the payment of bonds would be solely on pledge of revenue of airport. After discussion
the following resolution xas introduced.
RESOLUTION N0. 21:3
ACCEPTANCE OF THE OFFER
WHEREAS, there has been filed with the Government in behalf of City of West Memphis,
Arkansas (herein called the Applicant) an application, Project Nvmber PFL - Ark - 2L:1,
dated February 15, 1962 for Federal assistance under the Public Facility Loans Program,
Public Law 345, 84th Congress as amended, and the United States of America, acting by and
through the Community Facilities Commissioner, has transmitted to the Applicant for
acceptance an Offer dated September 24, 1962 of Federal assistance in connection with the
Project referred to in said application and described in said Offer; and
WHEREAS, said Offer has been fully considered in accordance with all pertinent rules
of procedure and legal requirements, and made apart of the Applicants public records; and
WHEREAS, it is deemed advisable and in the public interest that said Offer be accepted;
NOW, THEREFORE, be it Resolved by City of West Memphis, Arkansas, that the said Offer,
a true and correct copy of which, including the Special Conditions, Bond Specifications and
the Terms and Conditions, is hereto attached, be and the same hereby is accepted without
reservation or qualification.
Passed by the aforementioned governing body of the Applicant on the 1st day of
October, 1962.
~-
Motion was made by Alderman Bollinger, seconded by Alderman Rowton that the Resolution as
read be adopted. Upon vote, the voting was as follows:
Aye: Aldermen: Bollinger, Bowie, Felts, Leggett, Matthews, Sims, Rowton.
No: None.
No further business being presented, motion was made by Alderman Matthews, seconded by
Alderman Rowton that the meeting be adjourned. Upon vote, the wting was as follows:
Aye: Aldermen: Bollinger, Bowie, Felts, Leggett, Matthews, Sims, Rowton.
No: None.
__ P ID T RO EMPO
~~~ ~ _ ~,
ATTEST:
APPROVED: OCTOBER 18, 1962