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August 6, 1964MSNUfES OF A REGULAR MEETING OF THE CITY COUNCIL OF THE CITY OF WEST N~1PHI5, ARKANSAS, HELD AT THE !'TTY NETT TN SATT1 CTTY ON THE FiTH T1AY hF Ati(a1ST 196E n The City Council of the City of West Memphis, in the County of Crittenden, State of Arkansas, met in regular session at the City Hall in said City at 3:00 o'clock P.4:., on the 6th day of August, 1964. The meeting was called to order by the N.ayor, and the roll being called there were: Present: Bob Eden, 1`:ayor, in the chair, and the following named Aldermen: Y. G. Sims, Earl Felts, F. C. Weis, Kirby Leggett, 0. I. Bollinger, Paul Matthews, R. C. Boone, C. H. Rowtcn, and also City Attorney W. H. Dillahunty. Absent: None. Minutes of Council N.eeting on July 16, 196!!, were approved as read. Mayor Eden informed the Council Attorney J. H. Spears representing Charlie J. Beaver and West P:emohis Federal Savings & Loan Association, had requested that the hearing on the "dangerous building" at 211 W. Bond be continued. Also, the Council was informed Nr. D. D. Hudspeth, owner o£ property at 204, 206, 208, and 207 W. Bond, had requested a continuance due to the fact that the property is in the process of being sold. After discussion, motion was made by Alderman Leggett and secomed by Alderman Zwiatthews: That the hearings on the "dangezsbuildings" within the terms of Section I of Ordinance Nc. 142 be continued until the next regular meeting of the Ccuncil on August 20, 1964. Upon vote, the voting was as follows: Yes: Aldermen: Sims, Weis, Bollinger, Bowie, Felts, Leggett, Matthews, and Rowton. No : None . City of West Memphis Audit for 1963 prepared by Harry F. Dodge, Certified Public Accountant, was presented. After discussion, motion was made by Alderman I•iatthews and seconded by Alderman Bollinger: That the Audit for 1963 be accepted as presented. Upon vote, the voting was as follows: Yes: Aldermen: Sims, Weis, Bollinger, Bowie, Felts, Leggett, P']atthews, and Rowton. No: None. P:ayor Eden reported to the Council Px. Jack Hogan has resigned as a member of the Recreation Commission due to his moving from West Memphis. The N;ayor recommended Ns. C. T. Rodgers be appointed to serve the unexpired term of Pir. Hogan. There being no further recommendations, motion was made by Alderman Leggett and seconded by Alderman Rowton: That C. T. Rodgers be appointed as a member of the Recreation Commission to serve until Niarch, 1966. Upon vote, the voting was as follows: Yes: Aldermen: Sims, Weis, Bollinger, Bowie, Felts, Leggett, Matthews, and Rowton. No: None. The election to be held on August 11, 1964, on the question o£ issuing bonds for the purpose of Refunding Certain Outstanding General Obligation Bonds of the City and constructing and equippping two community centers was brought to the Council's attention. The following resolution adopted by the 1^Test I~:emphis Utility Comanission was presented: }dl-TEREAS, approximately twenty-five (25) years have elapsed since the acquisition of the present utility system owned and operated by the City of Y1est Tiemphis, and WHEREAS, there has been rapid growth of the Ciy of Wsst Memphis which in turn produced a rapid growth of the West I•iemphis utility system, and WHEREAS, such rapid growth of the utility system will continue as indicated by projected poaulation growth of West I~iemphis, and such growth indicated that the utility system owned by the City of i^;est 1•iemphis be evaluated by personnel who are qualified in this particular field, and, l~REAS, it has been determined by the West Niemphis~Utility Commission that Van Scoyoc & Wislcup, Inc., Public Utility Consultants, are qualified to perform such evaluation in order to advise said Utility Commission as to future growth and expansion; IQ6uT, TH;iREFORE, BE IT RESOLVED by the West 1':emphis Utility Corm~ission, that Van Scoyoc 8 `r7iskup, Inc., Public Utility Consultants, be, and they are hereby, retained to make an evaluation of the West N,emphis utility system. ADOPTED this 3rd day of August, 1964 B. J. LAP'iBERT, JR. P. M. DACUS WM. H. HUt~IDHAUSEN CHARLES J. UF'TON P. G. PARS Thereupon, Alderman Bollinger moved that the following Resolution be adopted, the motion was seconded by Alderman Rowton: RESOLUTION N0. 276 YlHEREAS, the West Memphis Utility Commission has determined that an evaluation of the operations of the West Piemphis Utility system be made in order to properly plan for future growth and expansion, and, I~REAS, the 'vlest I•:emphis Utility Commission has recommended that Van Scoyoc & Wiskup, Inc., Public Utility Consultants, be retained for this purpose, and, i~IIER.EAS, the City Council of the City of nest Memphis concurs in this project and consents to the evaluation as propcsed by the West Piemphis Utility Commission; and NOLv, TiiEREFORE, BE IT RESOLVED by the City Council of the City of West P'emphis, Arkansas, that the west N.emphis Utility Commission be, and it is hereby, authorized to retain Van-Scoyoc &Wiskup, Inc., Public Utility Consultants, for the purpose of evaluating the West Piemphis utility systems. Upon vote, the voting was as follows: Yes: Aldermen: Sims, Weis, Bollinger, Bowie, Felts, Leggett, Piatthews, and Rowton. Nay: None. P:ayor Eden informed the Council Pir. Reeves Ritchie of Arkansas Power & Light Company and Ns. 'r!. J. Smith of Smith, Williams, Friday, and Bowen, Attorneys At Law, Little Rock, Arkansas, had requested a meeting with the Council and Utility Commission to present a proposal to the City for the purchase or lease of the electrical distri- bution system owned by the City. The P'iayor stated he was of the opinion the City needs the information to be formulated by the firm of Van Scoyoc & Wiskup, Inc., Public Utility Consultants, and the advise of experts eegarding utilities before arty action is taken by the City. P;r. P<orris Fair, President of Jaycees, and PIr. Dave Thomas and Pir. Darcy Piarcellini, Jaycee members were present, and P:r. Fair stated their organization had received a letter from Arkansas Power & Light Company with reference to the matter, it was brought to the Council's attention a number of organizations had received letters. After deliberation, motion was made by Alderman Leggett and seconded by Alderman Matthews: That the Pfayor arrange a meeting on the matter when the information has been received £rom the Utility Consultants. Upon vote, the voting was as follows: Yes: Aldermen: Sims, Weis, Bollinger, Bowie, Felts, Leggett, ratthews, and Rowton. Nay: None. The M ayor stated that consideration should be directed by the said Council to the question of the adoption of a resolution to give notice of the sale of yltS0,000.00 of bonds issued for the purpose of securing and developing industry within or near the City of West N:emphis, Arkansas. After discussion by said Council, Alderman Rowton introduced in writing a resolution for that purpose which resolution the City Clerk read in full. Alderman Leggett then moved that the rule requiring an ordinance or resoltuion to be read in full on three different days be suspended and that said resolution be placed on its second reading, seconded by Alderman Weis, and thereafter the P:ayor nut the question on the adoption of said motion,3and the roll being called, the following voted: Aye: Aldermen: Bollinger, Bowie, Felts, Leggett, Matthews, Sims, Rowton, and Weis, and the following voted: Nay: None. shereupon, the I!ayor declared the motion duly passed and said resolution placed on its second reading. The resolution was then read by the City Clerk. Alderman Rowton moved that the rules be further suspended and the resolution be placed on its third and final reading. This motion was seconded by Alderman Patthews, and thereafter the Piayor put the question on the adoption of said motion, and the roll being called, the following voted: Aye: Aldermen: Bollinger, Bowie, Felts, Leggett, Matthews, Sims, Rowton, and 'vJeis, and the following voted: Nay: None. Whereupon, the Mayor declared said motion duly adopted and said resolution placed upon its final reading. Said resolution was read in full by the City Clerk. Alderman Sims moved its adoption, seconded by Aldeanaa Bollinger, and after due consiEration thereof by said Council, the N;ayor put the question upon the adoption of said motion and the passage of said resolution- and the roll being called, the following voted: Aye: Aldermen: Bollinger, Bowie, Felts, Leggett, Matthews, Sims, Rowton, and Weis, and the following voted: Nay: None. Whereupon, the P'syor declared said motion duly adopted and said resolution duly adopted, and signed his approval to said resolution, which was attested by the City Clerk, and impressed with the seal of the City. Alderman Felts then moved that said resolution go into immediate operation and became effective without delay because of the emergency declared in Section 2 of said resolution, which section was then read in full, seconded by Alderman Bowie. The Naybr put the question on the adoption of the said motion, and the roll being called, the following voted: Aye: Aldermen: Bollinger, Bowie, Felts, Leggett, Eatthews, Suns, Rowton, and Weis, and the following voted: Nay: None. i~Rzereupon, the Mayor declared said motion duly passed. Said resolution, to which no amendment was offered, read as follows: RESOLUTION N0. 277 :;octicn 'v'.. That 'rice C'_ty Cle-_I: o;= this .,ity be _ ~ozu ~~cd to nubli sh in sc^~ neca~aap^- n~.zblishec7 in the City o'~ ;isst ?^'c~ap.~is, C_ittenden County, .._..sns_ ~_:zd a'~=" a ..^na fide r_i,-czilation there_a.n, a^e ~o:1Ie;T:n notice, ~;:izch shah. be p~:'??_ished once a o,*ao, a*__' rr,e cJ-~-r fi.:;ad `er tha ;;ale, the first publication to re at Lout t:~;e:aty `~0) da_~s before the said date: TdCTICE OP SALE OF $450,000 CF GETv'EP,AL 03LIG_^STIO^I •LT ~'JSTPIAL BEVELCJ?~NT BOdL`S CF =:~ CIT.I GF 1wa~ST T"..'m.TB'HFS, AP,ILnTQSAS, FC° THE PI3EFCSE C? SECISRITIG ASS i7F.VELOPIT',G II3DUSTP.IES i~]2?'?Ior] ATID Fv'E^1t THE CITY CF Tn~ST F•~TI'HIS 1. NOTICE FS HERE';Y GIVEPI that on the 3rd day of ~S.el~pmbe~ , 1954, the City of idest Memphis, Arkansas, w=? 1 o=f~:: fo-_ sale for cash to the highest bidder en auction bids, at c3 00 o'cloch,p .M,, at the City Hall in said City, Fou- Hund_°ed nifty Thousand .Dollaxs ($450,0'JO) of bonds, isstDed fora the purpose of aiding in securing and dove loping industry within and near the City of i;est T1e~phis, ~kansas. ' 2. The bonds will be dated as of June 1, 1964, bear interest z*_ the rate of Three and sirty-five hundredths percentu*s {3,65%) per annum, and zaill c~ature se_ia].ly on the first day of December in eac?~ year as folloe~s: $ 10,000 in each of the year 19157 and 1968; $11,000 in each of the years 1969 and 1970; $12,000 in each of the years 1971 and 1972; S?3,000 in each of the years 1973 and 1974; $.x.4,000 in the year 1975; $15,000 in the year ?976; 516,000 in each of tine years 1977 and 1978; $17,000 ~n ttze year 1979; $ 18,000 in the year 1980; :,.9,"00 in ::t,n y,,a-~ 198? G20,000 in the year 1952; $21,000 in the year 1983; $22,000 in each of the years 1984 and 1985; $23,000 in the year 1985; $25,000 in the year 1987; S2G,000 in the year 1985; $27,000 in the year 1989; $28,000 in the year 1990; and $?_9,000 in the ;year 1991. 3. No bid at less than par, plus accrued interes~_, dill be considered. The award, if made, will be to the bidden- offer- ing the lowest interest cost to the City; the interest cost to be determined by computing the aggregate amount of interest at Three and sixty-five hundredths percentum (3.65%) per annum, and deductin;; therefrom the amount of any premium offered. 4. The bonds ~oi11 be secured by a p ledge of the proceeds of a tar, of three (3) mills levied against the ta;abie grope°ty in the City of i~test Memphis, Arkansas, which levy shall continue and be in force from year to year and collected until the principal of and interest on the said bonds shall be fully paid; pravided, however, that the Cit; may, from time to time, suspend the col- lection of such anrval levy, in whole or in part, when not re- quired for the payment of the bonds. rt is contemplated that the pledge of rentals from the industrial plant developed from the proceeds of the sale of the bonds and from the proceeds of the sale of $300,000 of Indus*_rial revenue.bonds proposed to be - 2 - issued by the City under the provisions of Act No. 9 of the Special Session of the General Assembly of the State of Ar~.ansas for the year 1960 will cna~:e possible such suspension from time to time, in whole er in part, but the pledge of the three (3) mills will be a continuing pledge until the said bands are fully paid. 5. The purchaser shall have the privilege of converting the bond issue as sold into an issue of bonds bearing a lower rate or rates of interest, said conversion to be according to the Universal Bond Values Table, and providing the City shall receive no less and pay no more than it would receive or pay for 3.65% bands, and provided, further, that the terms of conversion are approved by the City Council of the City of G7est P4emphis, Arkansas. b. The bonds will be subject to redemption, at par and accrued interest, prior to maturity, at the option of the City, in inverse numerical order, on any interest payment date en and after December 1, 1969, only from surplus lease rentals after there has been set aside a sum sufficient to service the bonds for the current year and the next six months' interest, or from any other available funds, Notice of the call will be pub- lisped for one insertion more than thirty (30) days before the date of such redemption in a newspaper published in the City of Little Rock, Arkansas, and of general circulation in the State of Arkansas. - 3 - 7. The bonds of this issue will supplement $300,000 of bonds proposed to be issued by the City of [Jest Memphis under Act No. 9 of 1960, and the proceeds of both issues will be used for the purpose of securing and developing industry 4Ji thin or near the City of idest tlemphis, Arkansas. S. The bonds will be delivered subject to the final approving opinion of Messrs. Rose, I.1eek, House, l;arron, Nash & [dilliamson, bond counsel, of Little P.oclc, Arkansas, whose opinion will be printed on each bond. 9._ The purchaser cai11 pay the cost of the approving opinion, the printing of the bonds, and the authenticating of the bonds, and the purchaser may name the trustee and paying agent and the bank to authenticate the bonds. 10. The City reserves the right to reject any and all bids. 11. Bids must be accompanied by a certified or cashier°s check for $9,000, payable to the City to be its liquidated damages in the event the bidder fails to Hake good its bid, then to be applied to the purchase price if it gets the bonds; otherwise, to be returned. Intorest will not be paid on such good faith check. ~r:r City Attorney -illahunty reported on two locations for the plant proposed to be constructed by East St. Louis Casting Company, one location being on N. nth Street south of the conversion ditch and the other in the Hulbert Area on the Rainer property. Alderman Rowton brought to the Council°s attention the parking situation at the corner of Roosevelt and i~:issouri due to new business being located there. After discussion, Playor Eden was authorized to have NO PARKING signs erected on both side of Roosevelt for a distance of 7, feet. Mayor 3den introduced I~ir. I. N. Hanna, who has been employed by the Utility Comnnission to inspect sewers and will be working out o£ Plumbing Inspector Ferrine°s office. There being no further business, the Council adjourned. ~ -~ __ % ~~~~~ IV R ATTEST• ~ - APFRO/E-: AUGUST 20, 196u