May 18, 1954~::) `-~!
M~IUTES OF A REGULAR MEETING OF TfiE CITY COUNCIL OF TFiE CITY OF WEST MEMPIiIS, ARKANSAS,
HAD_AND HELI) ON MAY 18.,_19.4,.
The Council of the City of West Memphis met in a regular session at the City Hall..
in said City at 7:30 P.M. on the 18th day of May, 1954.
The meeting was called to order by the Mayor, and upon roll call there were:
Present: Mayor H. B. Price presiding and the following Aldermen:
James Bledsoe, 0. I. Bollinger, John Burrow, Curtis Foster,
A. R. Manchester, and C. H. Rowton; City Attorney At1ee Harris
and City Clerk W. R. Seaton.
Absent: Aldermen Freeman Finley and P. B. Powers.
It being determined a quorum was present, the following proceedings were had to-wit:
Minutes of Council Meetings on May 4th and 5th were read and approved.
Attorney J. H. Spears presented Plat, Bill of Asstu•ance, and Agreement for Kendal
4th Addition, and advised plans and specifications for sewer system, curbs, gutters, and
streets had been prepared by C. li. Bond, Jr. Civi]_ Engineer. Mayor Price informed the
Council the Planning Commission had recommended approval of the Plat and Bill of Assurance
at theix• meeting on Pray 13th. After discussion, it was the opinion of the Council that
the matter be taken under consideration until the next meeting. The Planning Commission
having recommended the area be zoned as "A" residential area, the City Clerk was authorized
to have Notice of Hearing published in accordance with Ordinance No. 165, and date of hearing
be set for 7:30 P.M. June 15, 1954.
Mayor Price announced the meeting would be open for a hearing on the zoning of Lots
One and Two, Block Seven; Lots One - Twenty-Two Inclusive, Block Four; Lots One - Thirty-Four
Inclusive, Block Five; Lots One - Thirteen Inclusive, Block 6, Gibson Addition To The City of
West Memphis, Arkansas, as an "A" residential area. No one appearing to object, the Council
authorized ordinance be presented at the next meeting for the zoning of the area.
City Engineer James Howell presented the following suggested amendments to the Sewer
Ordinance :
Due to the inaccut•acies and mis-information contained in Subdivision Sewer Maps
that have heretofore been submitted to the City of West Memphis, Arkansas; the following
recommendations are submitted for the approval of the Mayor and the City Council, before
any Subdivision is accepted.
1. A complete Sewer Map (As Built) showing Manholes and Wyes located by Stations
and Depths indicated on the Maps also Profile Sheets.
2. All Stacks or Service lines shall be indicated, size and depth on the Maps.
3. No underground Lift Stations shall. be accepted because of Sewer Gases and
hazardous working conditions when repairs are necessary.
4. A Wye or Service shall be provided for each two houses, (Tapping Sewers damages
the pipe and presents a stoppage hazard.)
5. All Sewer construction shall be inspected during construction, by the City
Engineer or his representative.
6. All Sewer joins shall conform to the Arkansas State Code.
7. All Manhole covers shall be marked "Sanitary Sewer" and shall be comparable to
Memphis Machine Works.
8. In cases where Subdividers have failed to provide or leave a "r' inlet or
improperly locate a "Y" inlet thereby creating a condition where a Tap is
necessary, such Tap shall be made by the City at the expense of the
Subdivider. The cost to the Subdivider shall be governed by the prevailing
City rates.
The suggestions were taken under advisemeni; by the Council..
Mayor Price presented Light & Water Department Purchase Order No. 1796 in the amount
of X1,800.00 for poles from Long Bell Lumbez• Company. After discussion, motion was made by
Alderman Bollinger and seconded by Alderman Bledsoe to authorize said purchase. Upon vote,
the Aldermen voted:
Aye; Bledsoe, Bollinger, Burrow, Foster, Manchester, and Rowton.
Nay: None.
~~~~~%~~
~~,
~~
~;
Mayor Price informed the Council the next order of business would. be consideration of
ordinance for issuance of public utility bonds as per contract entered into with Stephens
Brothers, Inv. on May 5, 1954. The }4ayor presented the Ordinance and informed the Council.,
Mr. Barl.owe Henderson of Equitable Securities, Nashville, Tennessee, was present to supply
any information requested by members of the Council. T}xereupon, the ordinance was
introduced in writing and read in full by Alderman Bollinger.
ii
Alderman Bledsoe moved that the rule requis•ing said ordinance to be read i.n full on
three different days be suspended, and that said ordinance be placed on its second reading; ii
motion was seconded by Alderman Rowton, and thereafter the Mayor put the question on t}re
adoption of said motion, and the refl. being called, the following voted:
Aye : Bledsoe, Bo1.l.inger, Btu•row, Foster, Manchester, and Rctrten.
lday: None.
Whereupon the P1ayor declared the motion duly passed and said ordinance placed on its !!
second reading. The ordinance was then read tt?e second tune b~~ Alderman P~anchester. ''
Alderman Burrow then moved that said ordinance be now placed upon its final adoption; ~`
motion was seconded by Alderm~r? Foster, and after due consideration thereof by said Council., ~I
the Mayor put the question on the adoption of the motion, and upon the roll. being called, the
foll.ot^ring voted: ±i
Aye: Bledsoe, Bollinngex•, Burrow, Foster, Manchester, and Rox*ton. ~~
9
tday: P1one .
Whereupon the Mayor d.ecla.red the motion duly carried and said ordinance placed upon ~~
its final..readi_ng and adoption. I~
Said ordinance was read in full. by Al_dex•man Fas ter who moved its adoption, seconded by ~Ii
Alderman Burrow, and after due consideration thereof by said Council, the Mayor put the
question upon the adoption of said motion, and upon passage of said ordinance, and t}:e roll
being called, the following voted:
Aye: Bledsoe, Bollinger, Burrow, Foster, Manc}fester, and Rowton.
Nay: Ylone. ;1
Whereupon the Mayor called to the Councilts attention that the ordinance adopted jj
contained an emergency clause and suggested that specific action should be taken by the
Council. on this clause. ti^>rrereupon, motion was made by Alderman Manchester and duly
seconded by Aldexlnan Rrxston that the emergency clause of said ordinance be adopt-ed, and
the roll being called, the following voted:
i
Aye: Bledsoe, Bcl..li.nger, Burrow, Foster, Manchester, and Rowton. '
1{
Nay: None.
Whereupon the }Tayor declared said motion du.1.y adopted and said. ordinance duly passed,
and signed. his approval to said ordinance and the City Clerk was directed to spread. the I
same upon the record of Ordinances of. the City of West Plemphi.s, Ax•kansas, and. to have same
published as required by law, and to number said ord.a.nance IJo. 275.
Said ordinance to which no amencl?nFrt was e:Ffered read as follows: ,.
ta~~
ORDIIdAr1CE N0. 275
AN ORDIIdAr1CE PROVIDING I'OR THE ISSUATICE OF A SERIES OF PUBLIC UT1ZI'fY. BOrJDS
FOR THE ]MPROVEMENT Ar1D ENLARGEMErTT OF TI-)v N[TJPIICIPALLY OWNED WATERWORKS AND
SEWER SYSTEMS r10W SERVING T13E CITY OF WEST MEI`IPHIS, ARI{ANSAS; SETTIlQG UP
CERTAIN FUNDS FOR THEIR PAYMENT; AND DECLARIIIG AN EMERGEr1CY.
WI~h,:.rAS, the City o£ West Plemphi.s, Arkansas, a city of the first class, owns and
operates its municipal waterworks and sewer systems, both of which need to be enlarged
and improved, and the City has had Allen and Hoshall, consulting engineers of Memphis,
Tennessee, design the waterworks improvements at an estimated cost of (p220,000, and
Arthur E. Heag7_er, a consulting engineer of Pine Bluff, Arkansas, design the sewer
improvements at an estimated cost of ~73l~,600, or a total cost of ~95L(,bUU, and these
plans and estimates of cost are on file with the City Clerk, subject to the inspection
of all persons interested, but the City finds it necessary to issue only X950,000 in
bonds to pay for the new improvements; and
WHEREAS, the City owns and operates its municipal electric light and power system,
and the three systems constitute the City~s Public Utilities System; and
WHEREAS; the City has outstanding water revenue bonds wh:i_ch are a first lien on the
net revenues of the waterworks system, and the City likewise has outstanding sewer revenue
bonds which are a first lien on the net revenues of the sewer system, and the two issues
of water revenue bonds are also secured by a conditional pledge of electric revenues, but
the combined net annual revenues of the three systems are greatly in excess of the average
annual requirements of all outstanding revenue bonds plus the average annual requirements
of the proposed bonds for the new improvements; and
1rJHERTsAS, after due advertisement, the City at a public sale has sold for cash to
Stephens Brothers Investments, the highest bidder, who bid par and accrued interest .for
the bonds at the rate of 3.1757 per aruiwn interest, maturing according to the schedule
and with the rights set out in the notice of sale; and by a roll call vote the City
Council unanimously accepted the bid; and
WHEREAS, the buyer has elected to mane the Union National Bank of Little Rock, Arkansas,
as trustee and place of payment for the bonds and has elected to convert the X950,000 in
3.1757 bonds to bonds bearing lower rates of interest, and has presented schedules showing
the conversion meets the conditions set out in the bond sale notice, and the converted bonds
will cost the City X1233 less than the cost of maturing the bonds according to the original
schedule at the interest rate of 3.1757 per anmzm; now, therefore,
BE Tr ORDAINED by the City Council of the City of West Memphis, Arkansas:
SECTION 1. The Council heretnT finds and declares that there is irrunediate need for
the improvement and extension of the municipal waterworks system notr serving the inhabitants
of the City; and that there is immedi-ate need, in order to protect the health and property
of the inhabitants of the City, to improve and enlarge the sanitary sewer system of the City.
A brief. description of the proposed improvements is as follows:
For the waterworks system: a 2000 G.P.M. aerator; a 500,000-gallon
concrete mound. storage reservoir; a 1500 G.F.1`1. high service pump;
additional water treatment facilities and additional water mains in the
areas of nez,r development.
For the sewer system: the rehabilitation of existing sewer lines;
the replacement of a pwnpi.ng station and the alteration of another; and
the replacement of force mains and the construction of additional mains
and relief sewers.
The City can finance from revenues the excess of cost over the amount of the bond
issue. The proposed improvements atad extensions to the waterworks and the sanitary sewer
systems are hereinafter termed the "Works," and the present waterworks and sewer systems
plus the proposed improvements and extensions are hereinafter collectively termed the
"System."
SECTIOrI 2. The Council hereby finds and declares that the period of usefulness of the
existing waterwor}a and sewer systems now serving the City of West Memphis is more than
forty years, which is longer than the term of the proposed revenue bonds.
SECTION 3. The Cowicil hereby further finds and declares that the offer of Stephens
Brothers Investments for the purchase of the revenue bonds is at a fair price and one that
is allowed by law, and that the conversion of the bonds to bonds bearing lower interest rates,
as hereinafter set out, is within the terms of the proposal submitted for the purchase of
said bonds, and therefore the conversion is appx•oved and the bonds are hereby sold to said
buyer.
L(. That under the authority of the general statutes of the State of Ar}:ansas,
and particularly Acts Nos. 131 and 132 of the General Assembly of the State of Arkansas for
the year 1933, as amended (sometimes hereinafter termed "Acts Nos. 131 and 132, as amended"),
water and sewer second lien revenue bonds be issued in the total amount of ~y1,0U9,D0, the
proceeds of the sale of which shall be used to pay the cost of the >iiorks, including engineer-
ing and legal fees and other necessary expenses; that said bonds be designated "City of
West Memphis, Arkansas, _7 Public Utility Bond," to be dated as of May 1, 1951,
numbered from 1 to 1010, both inclusive, to be sometimes hereinafter referred to as "bonds,"
to be in the denomination of X1000 each except No. 15, which shall be i.n the denomination of
$100, to be callable as hereinafter set forth, and to mature in numerical order on May 1 of
each year as follows:
U-A.°~~
YI!~AR
_ BOND NOS.
`~~_(both inclusive) A1~rOD1TT
1955 1 to 15 $G14 , 7.00
1956 16 to 30 15,000
1.957 31 to L~5 15,000
1958 1}6 to 60 15,000
1959 61 to 75 15.000
1960 76 to 90 15,000
1961. 91 to 105 15,000
1962 106 to 12U 15,000
1963 121 to 135 20,000
1.`>64 136 to 155 20,000
1965 156 to 175 20,000
].y66 176 to 195 20,000
1967 196 to 23U 35;000
1508 231 to 28U 50,000
1969 281 to 335 55.000
1970 336 to 390 55,000
].971 391 to 450 ~0;000
1972 451 to 51e 60:000
]-973 511 to 575 65;000
1974 576 to 645 70;000
].975 646 to 715 70;000
].976 716 to 785 70.000
1977 786 to 855 70,000
1978 856 to 935 75.000
19'79 9.36 to 1010 75, 000
The bonds sha]]_ bear interest payable semi-annually on PTay 1 and November 1 of
each year at the fo].low:irrg rates per annum: ]dos. 1 to 155, inclusive, at 2%; Nos. 156 to
575, inclusive, at 2 1/2~; and Nos. 576 to 1010, inclusive, a.t 3~. The bonds shall be
signed by the Mayor and City C1erT: and sealed with the corporate seal of the City; the
interest upon the bends shall be evidenced by coupons attached thereto, the coupons to be
signed. by said 1Tayor by hi.s facsimi.l.e signature, and the Playor shall by the e~;.ecution of
the bonds adopt as and for his own proper signature his facsimile si_gnatux•e appearing on
said coupons, The bonds shall be payab]_e in lawfu]_ money of the United States of America
at the office of the Union National_ Bank of Little Rock, Arkansas.
I`he bonds, together with inierest thereon, shall. be payable solely out of the Public
Utility Bond Frurd as hereinafter defined, and shal]. be a valid claim of the holder thereof
only against such. Ftu1d, and the amount of the revenues pledged to said Fund, which. amount
of said revenues is hex•eby pledged and mortgaged fox• the equal and ratable payment of the
bonds and shall. be used for no other purpose than to pay the principal and interest of the
bcnds, except, as hereinafter set out.
SFGTIOIT 5. Said bonds and coupons shall be in substantially the following form:
UbITTED STATES OF AMET~IOA
STA1~' OF ARK11P1SAS
COUidTY OF' CRT1'7.7~~PTD~11
C r'l.'Y OF 4>>F~ST 1'll~I°IPHTS
puhl.ic Uti.].ity Bond
No.
KP1O4d A7,L MPN BY TF~SE FRFSI]TdT5:
That the City of West Memphi-s, in the County of Gr•ittend_en, State of Arkansas, for
value received hereby pronri.ses to pay, solely from the special fund provided therefor as
hereinafter set forth, to bearer, the sum of
DOLLF.RS
on t;he first day of rTay, 19 , with interest thoreon at the rate of
per centum ( _ ;~) per annum from date unt9.1 pairl, payable on November 1, 1, 5 ,~ anc~T-
semi-annnal].y thereafter upon presentation and surrender of the annexed coupons as they
seve.ra.l].y become due. Both principal hereof and interest hereon shall be payable in
lawful money of the United States of Ameri_r.a, at the office of the Union PTati.onal Bank
of Little Rock, Arkansas.
This bond is one of a series of bonds aggregating One Pti_lli.on Nine Tliovsand One FIundred
Dollars (~~1,009,~0), a17. of like tenor and effect e,ccept as to nxunber, denom~nat.i.on, interest
rate, and maturity, nrmrbex•ed from 1 to lOlb, both incl.usi_ve, and issued for the pux•pose of
irnprovilig and extending the er,isting mturi_cipal waterworks and sanitax•y set•rer sy*stems of said
City. (The waterworks and the sewer systems wi7.1 be herei.rrafter called the "System.")
~~
This bond and the series of rorhich it forms a part are issued pursuant to and in
accordance with the provisions of the latirs and Constitution of the State of Arkansas, and
particularly Acts Nos. 131 and 132 of the Acts of the General Assembly of the State of
Arkansas for the year 1933, as amended, and do not constitute an indebtedness of the City
of West Tlemphis within any constitutional or statutory limitation. Said bonds are payable
solely from a fxed amount of the revenues from the System, which amount shall be sufficient
to pay the principal of and interest on the bonds as the same become due and payable. Said
amount has been duly set aside and pledged as a special fund for that purpose and identified
as the 'Public Utility Bond Fund,~~ created by the ordinance by wtii.ch this bond is authorized
to be issued, and the said City of West Plemphis has fixed and has covenanted and agreed to
maim;ain rates for water and fewer services which shall. be sufficient at all times to provide
for the payment of the reasonable expenses of operation, repair and maintenance of said
system and to provide for the payment of the principal of and interest on the bonds of this
issue as the same become due and payable. These bonds are subject to the prior liens of water
revenue bonds on the water revenues and of seirer revenue bonds on the sewer revenues and the
conditional pledge of net electric revenues for the water revenue bonds, but the City has
City has irrevocably pledged that amount of its electric revenues that may be needed. in any
year to meet the maturities of the bonds of this issue.
This bond is expressly made negotiable by the statutes wxler which it is issued, and is
issued with the intent that the laws of the State of Arkansas shall govern the construction
thereof.
The bonds of this issue are callable for pa5nnent prior to maturity at par and accrued
interest in inverse numerical ordes•, as follows: From surplus revenues derived from opera-
tion of the System or from proceeds of the bond sale remaining after completion of the
work for which the bonds are issued, on any interest paying date; from fw~ds from any source,
on any interest paying date on and after T~1ay 1, 195°. Tn the event a call is made, the City
shall publish notice of such call. for redemption once a weer; for two weeks in some newspaper
of general circulation throughout the State of Ar}cansas and published in the City of Little Rock,
Arkansas, giving the number and maturity of each bond being called, the first publication to
be at least fifteen days prior to the date fixed for redemption; and after the date fixed for
redemption, each bond so called will cease to bear interest, provided funds for its payment
are on deposit with the paying agent at that time.
IT IS HF,REBY CERTIFIED, RECITED A2dD DECLARED that, all acts, conditions and things
required to exist, to happen and to be performed precedent to anti in the issuance of this
bond do exist, have happened and have been performed in due time, form and manner as
required by law, and that sufficient of the income and revenue which is deemed to be
derived from the operation of said System has been pledged to and will beset aside intro
said special fund for the payment of the principal of and interest on said bonds, subject
to the prior liens o£ outstanding bonds.
This bond shall. not be valid tmtil it shall.. have been authenticated by the certificate
hereon, duly signed by the Union National Bank of Little Rock, Arkansas.
1N WIl'NFsSS WHEREOF, the City of West memphis, Arkansas, by its City Council, has
caused this bond to be signed by the i'4ayor and City Clerk thereof and sealed with the
corporate seal of said City, and has caused the coupons hen~o attached to be executed by
the facsimile signature of said T~Iayor, all as of the first day of May, 1954.
CITY OF WEST T'IEMPHIS, ARKANSAS
By
T4ayor -
(Seal)
Attest:
City Clerk
(Form of Coupon)
No . ~~
On the first day of P1ov~maber 19~, the City of West Memphis, Crittenden County,
Ar}:ansas, unless the bond to whic~i this coupon is attached is sooner called for payment,
promises to pay to bearer the sum of DOLLARS in lawful money of the United States
of America, solely out of the fund spececified in the bond to which this coupon appertains,
at the office of the Union National Bank of Little Rock, Arkansas, being interest then due
on its Public Utility Bond dated Play 1, 1y54, and numbered
CITY OF WEST t7llll HIS, ARKANSAS
By
--- -._- P~Iayor-- - - -
On the bacl!: of said bonds is to appear the following:
CERT LF'ICATE
This is one of the 1010 bonds aggregating ~p1,009,100 described within.
UNION NATIONAL BANK
OF L]:TTLs ROCI_, ARKANSAS, Trustee
~._~
SECTION 6. The City expressly declares that, no part of this ordinance is intended
to have or shall have the effect of impairing in arty way the obligations of the contracts
which the City has made heretofore in connection with the followuxg four outstanding
revenue bond issues, namely:
(a) Seiner Revenue Refunding and Improvement Bonds
dated June 1, 1945, authorized by Ordinance
ilo. 107, passed July ~, 19~-t~;
(b) Sewer Revenue Bonds -Series of 1919, dated
.August 1., 19Lt9, authorized by Ordinance
No. 171, passed Septe>mber 9, 19~t9;
(c) Water Revenue Refuunding Bonds dated July 1,
1910, authorized by Ordinance No. 121, passed
May 2~, 1916;
(d) Water Refunding and Improvement Revenue Bonds
dated Jwre 1, 1950, authorized by Resolution
I~lo. 181, passed May 2, 1950.
SECTION 7. By ordinances duly passed by the City Council, the City has fixed the
rates to be charged for the services to be furnished by the water and setaer systems,
and the Councia hereby finds the rates so fixed to be the reasonable and necessary
m:i_nianwn rates to be charged, and said rates are hereby approved and confirmed. The
rates so fixed shall never be so reduced that they trill produce revenue less than
sufficient to meet as they accrue the principal and interest payments of the four
bond issues described in Section 6 hereof and then outstanding and the principal. and
interest payments of the bonds aut}tor.ized by this ordinance until. a11_ of the bonds of
ala. of said issues and interest thereon have been paid irx full, and shall when necessary
be increased in an atnowxt to provide for such paarntents.
SECTIOP} 8, Water and Sewer Fttnd. All income and revenues from the operation of the
r~rater and sewer systems sometimes hereinafter called the "System") shall be set aside into
a sepai ate and special fond hereby created and designated "UJater and Set.rer Fttnd. ~' Such
income and revenues are herelr,~ pledged, and shall be applied, to the payment o£ 'the operation,
rep3x• and maintenance of the System, to the payment of all outstanding bonds and of the bonds
issued under this ordinance and secured hereby and the interest thereon, and to provide art
adequate depreciation fwzd, in the manner hereinafter set out.
SBCTIOPI 9. Water and Sewer O erati.on and Paintenance Fond. There shall be paid from
the Water acrd Sewer tart into a fian-d which s hex•e create~-~at~ designated "Water acrd
Sewer Operation and I~fa:intenance Ftxnd° (hereinafter sometimes called "Operation Fund"), on
the first day of each month while any of the bonds issued under and secured by this ordinance
shall. be outstanding, sufficient money to pay all the operating expenses and to make reason-
able provision for the repair. and maintenance of the System. Fixed annual charges, such as
insurance and the cost of major repair and maintenance expenses, may be computed and set up
on an annual basis and one-twelfth of the amount thereof may be accumulated in said Operation
Fund each month. Disbursements from said fwzd shall include salaries, wages, cost of mainten-
ance, repair, and operation, materials and supplies. pwn.ping costs, and insurance.
Tf any surplus shall be accwnul_ated in the Operation Fund over artd above the amount which
shall. be necessary to defray the cost oP maintaining, repairing. and operating the System
dux•ing the remainder of -the then current fiscal year and the next ensuing fiscal year, such
surplus or excess may be transferred artd paid into the Water and Setrer Depreciation Fund or
into the Public Utility Bond Fttnd; provided, hotrevex•, that such transfer or payment into 'the
Fubli.c Utility Bond Fund shal_1 be in addition t.o all oi;her payments hereinafter required to
be made into said fund.
SECTIOTI 10. The balance of the revenues of the System after making t;he required payments
into said Operation Fund. is hereby declared t,o be the net revenues of the System, and there
shall first be paid out. of said. net revenues, in the amount and at the times specified, the
scans necess,a y to meet the payments of principal and interest of the four water and setrer
revenue bona issues described in Section G o£ this ordinance. Such paytttents shall include the
charges oi' the paying agent.
SECT:f011 1.1. Fu_blic Utility Bond Fund. (a) There is hereby created. and so long as arty
of the bonds hereb;,r authorized are outstantiixtg there shall be mai.ntained., a special. fond to be
knotan as the "Fubl.ic Utility Bond Fund" (sometimes hereinafter referred to as 'the "sinking
fund°), into which there shall be set aside from said net revenu~a remaining after provision
has been made for 'the payments set out in Section :1.0 of this ordinance such portion thereof
as wi.1.1 be stt.ffi.cient to pay the interest en said bonds as the same becomes due, to pay the
necessar;y~ fiscal agency charges for paving bonds .and interest, and to pay the principal of
said bonds at or Before maturity, as herein prrovided., and to create a marg9_n of safet~r. It
is hereby determined and agreed that thE; minimwn amounts to be so set aside and paid into the
sinl:inr fund each mont}t for account of. the bonds herein authorized shall be, vt addition to
the paying agentts .fees, not less than one-fifth of i;he vnotxnt of interest becoming due on the
next succeeding interest pa;,~ment date plus one-tenth of the amount of principal_ becoming due on
the next succeeding principal pa~mtent, date until a reserve of .„~~Q~5,000 has been accwnulai;ed.
_ _ _ __
~i
i
~,
~';
Provided, however, that no further payment need be made into said sinking fund
after and so long as such amount of the bonds of this issue shall have been retired that
(; the amount then held in such sinking £und, including the reserve, is equal to the entire
'~ amount of the interest and principal that will have accrued and become due at the time
of the retirement or maturity of all the bonds of this issue then remaining outstanding.
The undertaking to transfer and pay -the prescribed amounts from said Water
and Sewer Fund into said sinking fund shall be cumulative so that in the event the net
revenues during any month are inadequate to make the required transfer and payment
or if for an}; other reason there be a failure to make sac h transfer and payment, the
amount of the deficiency shall be made up from the first available net revenues there-
after:received, and the same shall be in addition to the amounts otherwise required t o
be tz~ansferred and paid into said sinking fund.
The City hereby agrees that if in any month the funds from the Water, and
Sewer Fund available to be paid into the sinking fund are insufficient to meet the
then monthly payments to said. fund as hereinabove specified, the City will immediately
transfer from the net revenues derived from the operation of its municipal electric
light and power system to the sinking fund a sum equal to the amount of such-deficit.
(b) Said sinking fund ehgll be used solely and only and is hereby pledged far
the purpose of paying the interest on and accomplishing the retirement of the bonds
herein authorized, Withdrawals and remittances to the place of payment of the principal
and interest shall be made in ample time to meet the semi-annual payments of such
principal and interest, which are as follows:
YEAR PRINCIPAL INTEREST TOTAL
May 1 of May 1 and Nov. 1
each year ~ of each year
1954 ~ ~ X13,291.00 $13,291.00
1955 14,100.00 13,291.00 13,150.00 40,541.00
1956 15,000.00 13,150.00 13,000.00 41,150.00
1557 15,000.00 13,000.00 12,850.00 40,850,.00
1958 15,000.00 12,850.00 12,700.00 40,550.00
1959 15,000.00 12,700.00 12,550.00 40,250.00
1960 15,000.00 12,550.00 12,400.00 39.950.00
1961 1,000.00 12,400.00 12,250.00 39,650.00
1962 15,000.00 12,250.00 12,100.00 39,350.00
1963 20,000.00 12,100.00 11,900.00 44,000.00
1964 20,000.00 11,900.00 11,700.00 43,600.00
1965 20,000.00 11,700.00 11,450.00 43,150.00
1966 20,000.00 11,450.00 11,200.00 42,650.00
1967 35,000.00 11,200.00 10,762.50 56,962.50
1968 50,000.00 10,762.50 10,137.50 70,900.00
1969 55,000.00 10,137.50 9,450.00 74,587.50
1970 55,000.00 9,450.00 8,762.50 73,212.50
1971 60,000.00 8,762.50 8,012.50 76,775.00
1972 60,000.00 8,012.50 7,262.50 75,275.00
1973 65,000.00 7,262.50 6,450.00 78,712.50
1974 70,000.00 6,450.00 5,400.00 81,850.00
1975 70,000.00 5,400.00 4,350.00 79,750.00
1976 70,000.00 4,350.00 3,300.00 77,650.00
1977 70,000.00 3,300.00 2,250.00 75,550.00
1978 75,000.00 2,250.00 1,125.00 78,375.00
1979 75,000.00 1,125.00 --------- 76,125.00
When the amount on deposit with the Trustee has accumulated a total reserve of
$85,000 over and above the current bond and interest requirements, then the respective
payments from the Water an d Sewer Fund into the sinking fund shall be reduced to one-
sixth of the next installment of interest and one-twelfth of the next installment of
principal of the bonds of this issue, together with the paying agent's fee.
(c) The reserve of $85,000 to be accumulated as hereinabove provided shall
be designated ~~Reserve Fund," and whenever withdrawals are made from said Reserve Fund
so as to reduce the balance therein to less than X85,000, the monthly payments of
one-fifth and one-tenth above described shall be resumed and shall be continued as long
as may be necessary to restore the amount in said Reserve Fund to $85,000. The funds in
said Reserve Fund shall beheld as a trust account, or, at the option of the City, they
may be invested in bonds or other direct or fully guaranteed obligations of the United
States of America maturing or being subject to retirement at the option of the holder
within not more than twelve years from the date of such investment. withdrawals and
disbursements may be made from said Reserve Fund to meet the payment of interest or
principal to whatever extent) funds in the sinking fund are insufficient for that pur-
pose.
In the event that the Reserve Fund is held on deposit in a depository, such
depository shall give security, either by a corporate bond to be approved by the Water
and Sewer Commission or by the escrow deposit of bonds or other direct or fully guar-
anteed obligations of the United States of America, for all sums on deposit with it in
excess of X10,000.
SECTION 12. Water and Sewer Depreciation r~und. There shall be paid from the
dater and Sewer Fund into a fund which is hereby created and designated °Water and Sewer
Depreciation Fund~~ (hereinafter sometimes called~~Depreciation Fund°), on the first day
of each month while any of the bonds issued under this ordinance shall be outstanding,
five per centum (5~) of all revenues derived from the operation of the system. Moneys
ii'r-the Depreciation rand shall be used solely for the purpose of paying the cost of re-
placements made necessary by the depreciation of the System.
__._ __ _ _ q~ .._
If any surplus shall be accumulated in the depreciation Fund over and above the s
amount which shall be necessary to defray the cost of the probable replacements during the
then current fiscal year and the next ensuing fiscal year, and which is not needed for
replacement, such surplus or excess may be transferred and paid into the sinking fund; i
provided, however, that such transfer or payment into the sinking fund shall be in add-
ition to all other payments herein required to be made into said fund. ;;
SECTION 13. The revenue from the System which remains after making full pro-
vision for the funds hereinabove established is hereby declared to be surplus revenue and
may be used by the City to call bonds of any issue for payment prior to maturity or to
make improvements or extensions to the System.
SECTION 1lt. There shall be a statutory mortgage lien upon the improvements to
the waterworks constructed from the proceeds of this bond issue,-which shall exist in
favor of the holder of the coupons attached to saod bonds, and such improvements shall
remain sub~eat to such statutory mortgage lien until payment in full of the interest on
and principal of the bonds; provided, however, that such statutory mortgage lien shall
be interpreted according to the decision of the Supreme court of Arkansas cited as City
of Harrison v. Braswell, 209 Ark. 1094, 194 SW(2d) 12, and that said statutory 1i.en shall
not be asserted or enforced so as to result in a foreclosure or sale of any of the pro-
perties constituting the municipal waterworks, but said statutory mortgage lien shall be
recognized and enforced only for the purpose of preventing the sale, attempted mortgage
lease, or disposal in any other manner, of an integral part of said waterworks.
SECTION 15. By the prvisions of said Act No. 132, as amended, the payment of
the sewer service charges is secured by a lien upon the premises served by the sewer
system; said charges shall constitute a lien upon the fee title to the land and per-
manent improvements, even though the occupant receiving the benefit of the service for
which the rate or charge is due has merely a leasehold interest (or other lesser estate)
in the premises.' Vacant property not actually using the sewer system shall not be ~ub-
,ject to a service charge, but the burden of proving ,non-use during vacancy shall rest
upon the owner of the property. If any service rate or charge so established shall not
be paid within thirty days after the same is due, the amount thereof, together with a
penalty of 10~ and a reasonable attorney's fee, may be recovered by the City in a chan-
cery suit filed in the 8hancery Court of Crittenden County, and the City agrees to bring
foreclosure suits for past due service charges.
SECTION 16. The Water and Sexer Commission shall send a written notice to
any owner of improved property that can be served by the System but is not connected,
to make such connection within thirty days from the date of said notice; and any pro-
perty owner failing or refusing to connect his improved property with the System after
being notified to do so shall be guilaty of a misdemeanor and upon conviction shall be
fined in any sum not less than two dollars and not exceeding ten dollars, and each days
failure tr refusal after expiration of the time fixed in the notice to make the connec-
tion shall be a separate offense; provided, this shall not apply to property lying more
than 300 feet by street and alley lines from a place where a connection can be made with
the System.
SECTION 17. The City agrees that no bonds will be issued having a lien on the
revenues of the Water, sewer, and electric light systems, or any one or more of said
systems, prior to the lien on said revenues granted by this ordinance to the bond issue
authorized by this ordinance. Nothing in this ordinance shall be construed to prevent
the issuance by the City of additional bonds on a parity with the bonds of this issue
to finance or pay the cost of constructing any extensions, betterments or additions to
the System; provided, however, that the City shall not authorize or issue any such add-
itional bonds so long as any of these bonds are outstanding unless the net revenues de-
rived from the municipal water, sewer, and electric systems for the fiscal year then next
preceding shall have been sufficient to provide for all costs of operation, repair, main-
tenance, and depreciation of all the systems and leave a balance equal to at least 150
of the maximum annual conbined principal and interest charges in any future year on all
the bonds then payable from the water, sewer and electric revenues and on the additional
bonds proposed to be issued. Provided, further, that nothing herein shall be construed to
prevent the City from issuing bonds for extensions or improvements to the System subject
to the prior lien of the bonds of the issue authorized by this ordinance.
SECTION 18. The City owns and operates its electric system, and for the pur-
pose of preventing any default in the bonds authorized by this ordinance it hereby pledges
as additional security for the payment of said bonds and interest thereon the surplus
revenues derived each year from the operation of said electric system, with the pro-
vision that the surplus revenues shall be those revenues which remain after making full
provision for the operation, maintenance, repair, replacement and depreciation of the
electric syste, and any sum or sums that may be needed in any month to prevent a default
at any time in the payment to the Public Utility Sond Fund undertaken by the City to be
made for that month shall be paid from said net revenues of the electric system direct
into the Public Utility Bond Fund, and the surplus electric revenue not needed in any
month for the purpose of preventing a default in the payment of the -bonds of this issue,
either principal or interest, for that month, or in curing a default that may have
occurred previously, shall thereupon be released from this pledge, but such release
in any month shall not release said surplus of succeeding months from this pledge. The
pledge of the net revenues of the electric system shall, to the extent hereinabove set
out, as long as any of the bonds of this issue remain outstanding, be prior to any other
liens of any kind or character that the City may later place upon the electrio system or
any subsequent pledge of its net revenues; but the pledge for this band issue shall be
subject to the prior conditional pledges by the City of said net electric revenues for
the payment of water revenue bond issues dated July 1, 1946, and June 1, 1950.
SECTION 19. The audit which the City hereinafter agrees to have made each year
shall contain, in addition to the usual and customary information contained in such an
audit, the following; The accountant's comment regarding the manner in which the City has
carried out the requirements of this ordinance and the accountant's recommendation for any
change or improvement in the operation of the System; a list of the insurance policies in
force at the end of the fiscal year for which the audit is being made, setting out the
detail3 as to each policy -- the insurer, the expiration date, and the amount of coverage;
~' .! .
and an analysis of the number of customers connected to each system at the end of
the fiscal year, classified as residential, commercial, industrial, and others.
A copy of this audit shall be subject to inspection by any bondholder during busi-
ness hours, and upon his request any holder of 5~ or more of the bonds of this
issue then outstanding shall be furnished with a copy.
SECTION 20. The City agrees that at least once every five years, beginning
not later than the year 1959, it will employ an independent consulting engineering
firm to make a survey of the System and to make recommendations as to the opera-
tion and maintenance or further improvement of the System, and this report shall
be on file with the City, open to the examination of any bondholder and other
parties interested, and a copy of the report shall be filed with the Trustee and
shall be given to any holder, upon his request, of 10~ or more of the then out-
standing bands.
SECTION 21. The Mayor and City Clerk are hereby authorized and directed to
execute the bonds and deliver them to the buyer upon the payment of the Full pur-
chase price and accrued interest. The money received for accrued for the bond
issue shall be deposited in a fund hereby created and designated "Construction
Fund," and shall be used solely for the~.purpoae of paying the coat of the Works
according to the plans thereof which are now on £ile, together with the nee-
essary engineering, legal, and other expenses incidental to such construction
and except for the expenses o£ the bond issue and legal and engineering costa,
shall be paid outl only on engineer's estimates, and each depository shall be
notified of this requirement. The 8onstruction Fund may be deposited in one or
more banks, each of which shall be a member of the Federal Deposit Insurance
Corporation, but each depository shall be required to give security for that
part of the deposit which exceeds the amount guaranteed bar said FDIC,'aaid --
security td be either a surety bond executed by ~ corporation authorized to do
business in Arkansas, or the esermx deposit of bonds issued by or fully guar-
anteed by the United States of America. In the event that any funds remain in
the Construction Fund after the completion of the Works, such balance shall be
immediately transferred to the Public Utility Bond Fund.
SECTION 22. For and in oonsideration of the purchase aqd acceptance of the
bonds authorized by this ordinance and to facilitate their payment, with interest
the City agrees to the following terms:
(a) None of the facilities or services afforded by the System shall be
furnished without a reasonable charge being made therefor. In the event that
the City or any departments agency or instrumentality thereof shall avail it-
aelf of the facilities or services afforded by the System, the reasonable value
of the services and facilities so afforded shall be charged against the City
or such department, agency, or instrumentality and shall be paid for as the
charges therefor secure. The revenues so received from the City shall be deemed
to be revenues derived from the operation of the System] provided, however, that
nothing herein shall be construed as requiring the City or any department, agency,
or ittatrnmentality there o£ to avail itself of the facilities or services afforded
by the System.
(b) The City will maintain the System in good condition and operate the
same in an efficient manner and at a reasonable cost. So long as any of the bonds
are outstanding, the City agrees to maintain fire, lightning and tornado insurance
on 'the System in an amount which normally would be carried-by a private conpany
engaged in a similar type of business. These insurance policies are to be taken.
with companies approved by the Trustee, are to carry a clause making them payable
to the Trustee ae its interest may appear, are to be kept continuously in force
and either the original policies of insurance shall be placed in the custody of the
Trustee or the Trustee shall be furnished evidence satisfactory to it that the
policies have been issued and carry the loss payable to the Trustee clause. In
the event of lose, the proceeds of such insurance are to be applied solely toward
the reconstruction, replacement, or repair of the System. In such event the City
will, with reasonable promptness, cause to be commended and completed the recon-
struction, replacement and repairs. Nothing herein shall be construed as requiring
the City to expend arty funds for premiums on its insurance on the System which are
derived from sources other than the operation of the System.
(c) The City Treasurer shall be the custodian of the revenues derived from
the System, and shall give bond as such custodian. Such bond shall be in an
amount not less than ~ 5,000.00 and shall be approved by the Trustee.
(d) All revenues from the System shall be deposited in such depository or
depositories as may be lawfully designated from time to time, sub~ect~ However,
to the giving of security by each such depository as now or as hereafter may be
required and provided each such depository shall hold memebership in the Federal
lleposit ~nsurance Corporation. All dgposits shall be made in the name of the City
and be so designated as to indicate the particular fund to which the revenues be-
long. Payments from each fund set out in this ordinance shall be made by check or
voucher signed by two duly designated persona and drawn on the depository in which
the moneys in said fund shall have been deposited, and each such check or voucher
shall briefly specify the purpose of the expenditure.
~~~~`a
,.
,. ~
(e) The bonds, together with interest thereon, are not general obligations of the ~~'
City nor do they constitute an endebtedness of the City within the meaning of any con- I'
stitutional or statutory provision or limitation, but shall be payable solely out of
the Bond Fund and shall be a valid claim of the holders thereof only against said Fund,
and the amount of the revenues pledged to said Fund, which Fund is hereby pledged for jl
the equal and ratable payment of the bonds issued by authority of this ordinance and '!
shall be used for no other purpose than to pay the principal and interest of the bonds
as the same mature, except as provided in this ordinance. !~
(f} The System shall be operated upon a fiscal year basis, beginning January 1
of each year and ending and including the following December 31
(g) ~t is covenanted and agreed by the City with the holder or holders of the
bonds, or any of them, that it will faithfully and punctually perform all duties with
reference to the System required by the Constitution and statutes of the State of
Arkansas, including the making and collecting of reasonable and sufficient rates
lawfully established for services rendered by the system and applying the revenues
therefrom to the respective funds herein created.
(h) So long as any of the bonds are outstanding, the City will not mortgage,
pledge, or otherwise encumber the System or any part thereof or any revenues therefrom,
except as herein provided, and will not sell, lease, or otherwise dispose of any
substantial portion of the same. The obligations of the City set out in this or-
dinance, the pledge of revenues, and the City's agreement not to mortgage, pledge,
or otherwise encumber the System, shall be made a matter of public record by having
a certified copy of this ordinance recorded as a mortgage in the office of the Cir-
cuit Clerk and ex-officio Recorder of Crittenden County, Arkansas.
(i) The City will keep proper books of records and accounts (separate from all
other records and accounts) in which complete and correct entries shall be made of any
transactions relating to the System. The City agrees to have these records audited
by an independent certified public accountant at least once each year, and it shall
furnish the Trustee a copy of this audit. In the event that the City fails or refuses
to make the audit, the Trustee may have the audit made, the cost thereof to be charged
to the cost of operation.
(~) If there by any default in the payment of either the principal of or the
interest on any of the bonds, the holder or holders of any of the bonds may enforce
any mortgage lien granted by statute and may be proper suit compel the performance
of the duties of the officials of the City, as set forth in the statutes authorizing
the bonds. if there be default in the payment of the principal of or interest on
the bonds or if the City shall fail to keep any other obligation wYdch it herein
assumes, and such default shall continue for thirty days thereafter, any court having
~iu•iadiction in any proper action, which may be instituted either by the Trustee on
behalf of X11 the bondholders, or by the holder of a bond in default, may appoint a
receiver to administer the System on behalf of the City, with power to charge and
collect rates sufficient to provide for the expenses of the receivership, the payment
of the bonds and interest thereon, and for the payment bf the operating expenses,
and to apply the income and revenues in conformity with said statutes and this or-
dinance providing for the issuance of said bonds, but when all defaults are cured,
the receivership shall be ended and the management and control of the System restbred
to the City.
(k) The City further covenants and agrees that if default is made in the pay-
ment of any bond or coupon, or if the City fails to meet any sinking fund require-
ments, the holder of such bond may declare that bond immediately due and payable
and in default, and either the Trustee on behalf of all the bondholders or any
bondholder for himself may institute suit to enforce the pledge lien herein granted.
The failure to exercise this option upon any default shall not be a waiver of the
right to exercise it upon any subsequent default.
(1) The bonds authorized hereby shall be callable for payment before maturity
according to the terms set out in the bond form.
(m) The charges for paying bonds and interest coupons shall be 1/£3 of 1~ on
principal and 5¢ per coupon; provided, the minimum fee for any semi-annual payment
shall be one dollar. No withdrawal from the bond Fund shall be made for any purpose
other than the payment of bonds and. interest, and the monthly deposits in the Bond
Fund or with the Trustee shall be at the sole risk o£ the City and shall not operate
as a payment of the bonds or coupons until so applied.
(n) l~he City hereby agrees to make all payments on bonds and interest only
through the designated paying agent. All bonds paid or purchased, either at or before
maturity, shall be canceled when such payment or purchase is made, together with all
unmatured coupons appertaining thereto, shall be returned to the City and shall not
be reissued. All unpaid interest coupons maturing on or prior to the date of such
payment or purchase shall continue to be payable to the respective bearers thereof.
(o) It is hereby declared that the provisions of this ordinance are separable,
and if any provision of this ordinance shall foi• any reason be held illegal or in-
valid, it shall not affect the validity of the remainder of the ordinance.
(p) It is hereby declared. that the provisions of this ordinance constitute
a contract by and between the City and the holders of the bonds and interest coupons
issued by authority hereof; and after the bonds have been issued and paid for, the
terms of said provision shall not be changed except with the written consent of the
holders of all bonds and coupons then outstanding.
~~
(q) Wherever reference is made in this ordinance to a ~rustee~ it shall refer
to The Union National Bank of Little Rock, Arkansas _
The said Trustee shall be responsible only for wilful misconduct in the execution of
this trust. The recitals of fact herein contained, and contained in the bonds, ex-
cept the recitals in the Trustee's Certificate, are statements of the City and shall
not be construed as being made by the Trustee. The Trustee shall not be required to
effect insurance against fire or damage to mortgaged property, nor to advance any
money to pay insurance premiums, nor to pay any charges or special assessments
against said property, nor to see that this pledge of revenue is properly recorded
and kept in force as a pledge, nor shall 3t be required to take notice or be deemed
to have had notice of any default ofthe City in the failure to perform any of the
conditions of this ordinance, unless said Trustee shall have been specifically
notified in writing of said default; nor shall it be required to take any action
hereunder until it shall have been indemnified to its satisfaction by the holders
of the bonds herein mentioned, or some of them, against loss or damage on account
thereof. The Trustee is authorized in its discretion to release any real or
personal property no longer used in the operation of the System. Z'he holder or
holders of a majority in value of the bonds at any time outstan~li.ng may at their
option remove the Trustee and appoint a successor trustee, by an instrument duly
acknowledged and filed for record in the office of the Circuit Clerk and ex-
officio Recorder of Crittenden County.
SECTION 23. The Mayor is hereby directed to publish for one insertion in
the Crittenden Count Times , which is hereby found and declared to be a
newspaper publ she in and of general circulation in the City of West Memphis,
Arkansas, a certified copy o£ this ordinance, preceded by a notice signed by him
in substantially the following form:
N O T I C E
Notice if hereby given that the City Council of
the City of hest Memphis, Arkansas, has adopted the ordinance.
hereinafter set out; that said City contemplates the issuance
of the bonds described in said ordinance; that any person
interested may appear before the Council on the day of
, 1954, at o'clock M. at the usual
p ace of meeting in the i~ ty of West Me~his, and be heard
and said Council will take such action as is deemed proper
in the premises.
DATED this day of , 1954.
or of eat mphis, Arkansas
SECTION 24. It is hereby ascertained and declared that there is immediate
need, in order to protect the health and property of the inhabitants of the City,
for the improvement and extension of the Waterworks and Sewer systems now serving
the City of West Memphis Arkansas; therefore an emergency exists and this or-
dinance is necessary for the preservation of the public peace, health and safety
and shall take effect and be in force without delay from and after its passage.
Passeds 18th~___ _, 1954.
APPROVED: HOWELL B. PRICE
MAYOR
(Seal)
Attests
W. R. Seaton
ty lerk
c ~^
~~ P~ '~!
Flayox• Frice reconunended to the Council. the appointment of Leonard Warden, Sr.
as the 5th member of the Light & Water Commission effective June 1, 1954. After
discu:,;,i c:n, motion was made by A]_derma.n Foster and seconded by A7.dexman Rowtan:
That Leonard Warden, Sr. be appointed as a member o.f the Light Yr Water Connn:i_ssa_on
of the City of West Memphis as authori-zed by Ordinance No. 86, amended by Ordin~uxce
No. 273; said appointmeni; to be effective as o.f Jtuie 1, 195l~. Upon vote, the
Aldermen voted:
Aye: Bledsoe, Bo7_l.inger, Burrow, Foster, Manchester, Rozrtan.
D?ay: None.
Progress on the proposed. fire station was discussed, and City Attorney Atl.ee Harris
advised three legal matters were being completed and taou].d be presented to the Counci_1 at
the next meeting. Thereupon, Mayor Frice appointed a connai.ttee of Aldermen Foster, Bledsoe,
Manchester to work w9_th Chief Anderson and the Architect in preparing plans in order to
eacpedite the bui.ldi_ng oi' the Thompson Street Fire Station.
The Bui.l.ding Inspector presented the following building permits he had authorized to be
issued, motion was made, passed, acrd adopted. to confirm the actions of the Building Inspector
in the issuance of the following permits:
Dacus Lumber Co.
Edward Wa7.]_er
Clara Lee Hale
Fi11.more Griffin
E. L. Thomas
Charles G. Barfield
Wi_ll.ie Hoad
George Hill, Jr.
The following petition was presented by City Attornej- FIarris:
FETITIOII
April. 10, 19511
312 s. 15th s~t.
West; Alemphis Ark.
I Arie Bus•ns i.s applying for ice sonndry in yow.• neighbor hood if you have no
objections please sign below
D, 41. Kilgore 30C S 15 St. I1r. and Mrs. Wesley Terrel)_ 309 So 15th St
Minnie Gorden 228 S• 15 St. Plx•. John Clanton 320 S• 15th St.
James Clark 334 S. 15 Ilrs. Ilal.lie L. OFrens 329 S. 15tr_ st.
Steward glass 225 So 15 Rebecca lrvin 330 S. 15 St.
Rev. W. S. Smith 132 S. 15th St. Maxine P(cCullough 410 S. 15 St.
Fran}: Jackson South 15 St - 102 Pioah A. Bladwin 4111 South 1.5 St.
Red Diamond 127 S. 7.5 St. Tom Morgon 425 So 15 St.
Rev. S, M. Coopwood 223 5. 17 St. Gea. White 1x32 So 15 St.
ts. Johnnie Henderson 27.5 S• 15 St. Amos C. 4~7®d 419 So 15 St.
W. B. Wi.ldy 227 S, 15 St. Ardie Arnold 4.17 So 16 ;>t.
Silas Sanders 15th Chester S. Durlej* 401 So. 15th St.
Juoni_ta Lee 313 S loth
Junanis Richardson 309 16th
Henry Jackson 312 50 16 St.
Albert Clark 303 So 15tL St.
(Mrs.) Uneeda 5. Banks 201 So. 16th Street
Mayor Frice informed the Council the F7anning Corm•tissi_on had recommended rezoning o£ the lots
from "D" resi_dential_ to "D" Commerci.a7. provided there were no objections from the six property
otaners on each side, bacY, and front of the property, Aftex• discussion, motion was made by
Alderman Rorrton a.nd seconded bt• Alderman Bledsoe that, the Cotmci_7_ approve recommendation of
Planning Conu~iission. Upon vote, the h_ldex7nen voted:
Aye: Bledsoe, Ballinger, Bux•rot~r, Faster. Manchester, and Ro~aton.
Pfay: done.
ido further business appearing before the CoLUrci.l, motion was made by A.lderm:~n Bledsae and
seconded by Alderman Faster to adjourn the meetin€;. upon vote, the Aldermen voted:
Aye: Bledsoe, Balli.ngex•. Bur•rorr, Faster, Pi~rrchester, anal Rowton.
Dtay: None .
i.
~-
_.~.~~ ~ '
.- - A1AY Oi`Z
ATTEST:
~ clty cLI~;Rx
AFFROVED: