February 1, 1955~/~/
AI:LPIUTE,S OF A RFGUIdtCt A4EETIIVG LlF THi; CITY COLITICIL OF 11~ CITY OF GJP;ST N1~,PIFHIS, ARItA~TSAS~
HAD ANll fi~'L7) OAI FEBRUARY 1, 155.
The Council of the City of 'vilest fJemphis met in a. regular session at the City Ha]1.
in said. City at 7:3~ }'.Tn, on thel_st da~r of i'et?rua:r.y. 1~5~.
'Phe meeting was called to order by }?a~~or H, H, }'ri_ce. and upon roll. call there were:
Pr•eseni;: James Bledsoe, 0, :C. Bollinger. , Bob Eden, Freeman F9_nlPy, Curtis Foster,
A, It. Aanchester. F. B, Powers, and ??., II, Ra}~; City Attorney Atl.ee [hrris
and City Cl_er};- J. ]s, Iii.mes.
Absent : P1one .
Tt bei_ng rieternr}axed a quortmr eras present, +.,hs fol.lotri_ng proceedings were had to-rrit:
A?i.nutes of Council.. Meeting on Januarzr 7_f?, 19Ki, were .read and approved,
I~iayor I:rise inf'ormecl the Council that after conferring with T. J. Raney 8c Sons on tha
financing; of two swimming pools, i1r. Pete Raney ha.d contacted Attorney 1•Iallacs Tnr,rnsend in
L:i.ttle Reck as to the issuing of revenue bonds, and i}r. Townsend had prepared. an orclinarxce
that would ena.hle the Ci.i;,y to issue bends in the amnturt of n300.000. After a full discu.ssicn
o.f the matter, Alcler`inan Rollinaer introduced an ordinance entitled.: "An Ordinance Authorizing
The Execution And De':.ivery Qf A Seri es Of Revenue Bonds Issued For The F'tu•pose C?f Providing j
Funds For 7.'he Construction Of ITUnic•.ra7 fiFri.mminc± Fools. Providing Funds For Fal~n»ent Of The
Bonds, And I~cl.art.na An Emergency," wlric}x tras read i.n full by Alderman B7.edsoe.
Alderman ~~'anchest•er then moved 'tlxat the rule requiring the reading in fu7.1 of an
ordi_nancP on three different days be d.i.spensed with. The motion t-ras seconded by A7_dex-maxx Ray, i
and on roll. ca7.1 the following voted:
A}re: Bledsoe. Ro7li.nger. iden. F`i.n7.e;y-. Poster, ranchester, T'otrers, and Ray.
Piay-: A}one.
The Alayox° declared that more than ttro-thirds of t}-o ~»emhers composing the Covnci.l had.
voted i_n favo.r of the motion to suspend the rule and that it taas carried. Alderman Foyers
then moved that the ordnance as read be ad.epteci. This motion was duly seconded b}* Alderma.n
};den. and cn rcl]_ call the fol_7.otri_ng voted:
Aye: Bledsoe, 3o7.l.irrger, 1?,:1en. Finley, h'ostcr. Manchester, Pot-rers, ar,d Ray. '
bray: Alone.
`1'he 1layor decl.at•ed that the ord9nanr_e had been adopted, and then cal.l.ed at;t;ent~ on tc
the fact that Section 1.~, the emergency section. must, he adopted upon a separa.t;e ro]_]. call
i.n order to be effective,
Aldexvnan Foster then read. Section 17 again. R.lderman F'i_n7-ey moved that Secti on 17 be ',
adopted. This motion eras dn:l r seconded by Alderman Tioll_inger, anc}. on roll call_ the :fol_lowing
voted:
Aye: B1_edsce, Bo].7-in~•e.r, ~,'den. Finley, Foster. P'ar?chester, T'o~-rers, and _la;~*,
Play: Alone.
~ The ATayor then dec]..ared that the ordinance and the emergency section had been duly
passed, and thereupon he signed the ordinance in .open Cotrnci.7_ mee+S.np.,. his signs ure was i
attested by the City Clem- ixrxder the seal. of the City, and the ertlina.nce became effective ~~
immediately.
Sa9.d or~cli.nance to which no amendment tras offered read as follows:
O~I)11dA.Lir,1 Ih. 2yK
AN (?ItD:TS1f1`IC;eI A}}'PIIc?~.I;)I~?Cr 1H,i; LK.IY'UT7:CiI~} A1;D ~~iJ T'T~':~Y OT~~ A ti, RI!_,'1 Ol'' RJs'V~~l~;Uls
BCPJDS ISSLr''sD Fc?P PH FUG, OSs c~F F'ROVL)IIdG PLiII'>;~ F0~1 TH'; C~'~IIB'i`RIICTInN r,Tr
A~I1L1JAI~~IICpTTFTAi(_i, ~/~T,~tJLI'>T1Ihr/C~~T~nPT/O~OLS, PN.UVIi)Il~1G FLRIAS b'!1R Y4`C?iA1'1_' (?I' 1H,? 73CNT~C, Aldll
Dl,l; T.,til l._l~`I lT tll~l ~'I^R,lilil~l l.~ • ~ _ •
1~1H~3REI1S, the Cittl of ~dest I1c?mphis, ~lr'-arrsas. does not have a mttni.cipa.l s..,.c~r!i.n~^ pool;
but :it. is ess:ntia.l. to the health, welfare, comfort, and enjo3m?ent of its citizens that
adequate provisions be made for safe and sanitary srrt.mnina, in order to promote the best;
interests of its inhabitants and protect the youth oC the City from the danaer• of st,*i.mminf
in unsupervised places; and
'~r]HERi3AS, the City has asceri;a.i.ned that the cost o:C tw0 stri^nning pools is -,x300,000,
which includes construction, equipment, and fu7.1. provisions for efficient use, and the
City can secure this money by the issuance aat~1 sale oE' revenue bonds payable from the
,point earni_nCS from ±.he use of the srri.mming pools anal renta]_.^, and concession sales; and
_ _
!; _ _ _ _
h11LsREAS, the City has sold to T. J. Raney & Sons of Tattle Rocl,:, Arkansas, ~
~~
j{ ~;~300,000 in 3.15°~ revenue bonds, the buyers to pay par and accrued interest plus ;j
the cost o£ printing the bonds. the fees of the trustee and bond approving attorney, ~i
and the cost of the publication and recording of the bond ordinance, said bonds to !!
be dated as of P4arch 1, 1y55, and to mates e serially on Play 1 of each year as follows:
x¢10,000 in 1956. 1957 and 1958
11,000 in 195`9and 1960
12,000 in 1961. 1962 and 1963
13.000 in 1964~and 1965
71~, 000 in 1966 and 1967
7.5,000 in 198
1:,000 in 199 and 1970
7.7, 000 in 1971
18,000 in 1972 and 1973
19, 000 in 1971 and 1975
20,000 in 197
with the provision that the buyers shall be granted the right to convert the bonds to
bonds bearing a lower rate of interest, upon condition that the conversion sha7.l be in
substantial. compliance with the Uni.versa]. Bond_ Values Tables and that the City shall
not pay any more or receive any less than it would pay or receive if the bonds i•~ere
not converted, and the buyers have elected to convert the bonds to :;,;326.700 in bonds
dated Larch 1, 1955, bearing interest and matwing as hereinafter set out, and have
elected to name the Union Planters Ilationa7 Banlc of P•lemphis, Tennessee, as Trustee
and paying agent. and are ready to accept delivery of the bonds when the City is
legally authorized tc deliver them; now. therefore,
BE IT ORDAINED by the City Council of the City of 6dest P~lemphis, Arkansas:
SLCTIOPI 1. That the City Council does hereby find and declare that there is need
to construct tt~ro municipal. swimming pool's in order to provide equ•~1. facilii;ies for all
of its citizens and to protect the lives of the young people by affording them safe and
sanitary places to swim, and the City has had plans made for taro swimming pools, estimated
to cost a total of p300,000, and the City Courrcil hereby approves said plans and has
determined to build the tiro pools.
SECTICXQ 2. That the City Council has examined the computations whereby the buyers
have converted the bonds from •;300,000 in 3.15' bonds to ~~326,700 in bonds bearing
interest and maturing as hereinafter set out, and i.t finds that according to the
computations the cost of maturing the bonds after conversion will be ."242.48 less than
the cost of maturing the bonds according to the ori.gina7. schedule, and therefore the
canverstion is zrithin the terms of the negotiation and the City Council hereby approves
and confirms both the sale of the bonds and their conversion to bonds bearing lower
interest rates.
SL+'CTTON 3. A brief description o.i the improvements to be made (hereinafter termed
the "System") is: The construction of two modern municipal swimming pools, with the
full equipment and machinery for their efficient and economical. operation.
SECTION 14. That the L'ity shall proceed to issue swimming pool revenue bonds in the
total amount of (;326-700, which shall be designated "City of hest llemphi.s, Arkansas,
;b Swinuning Pool Revenue Bonds," shall be dated as of P4arch 1, 1955, be numbered from
1 to 327, inclusive, be sometimes hereinafter referred to as "bonds," be in the denomination
of ;;1000 each except Bond PIo. 13, trYrich shall be in the denomination of yS700, be callable
as hereinafter set forth. and mature in numerical order on I<Iay 1 of each year as follows:
YEAR BOND IdOS,
(both inclusive) AMOUNT
1956 1 to 13 :12,700
1957 l!~ ±~ 26 13,000
1958 27 to 39 13,000
1959 40 to 52 13.000
1960 53 to 66 ~ 114
.000
1961 67 to 80 _
11{.000
1962 81 to 94 11~, 000
1963 95 to 108 11t, 000
19':11 l0y to 123 15, 000
1>G5 121,. to 138 15.000
1966 139 to 1.53 15,000
19~~7 154 to 168 15,000
1968 1.69 to 1811 1>, 000
19~~,9 185 to 200 lo, 000
19"10 201 to 216 16,000
1971 217 to 233 17,000
1.972 234 to 251 18,000
1973 252 to 26y 18,000
1974 270 to 288 19,000
1975 289 to 307 19.000
1976 308 to 327 20.000
The bonds shall bear interest payable semi-annually at the follotring rates per annum:
Ilos. 1 to 138, inclusive, at 2`~; Nos. 139 to 215, inclusive, at 2 '`~; and Nos. 217 to 327,
inclusive, at 2 1~. The bonds shall be signed bar the Ilayor and City Clerlc and sealed with
the corporate seal of the City; the interest upon the bonds shall be evidenced by coupons
thereto attached, the coupons to be signed by said Mayor by his facsimile signature, and
the Ylayor shall by the execution of the bonds adopt as and for his own proper signature his
facsimile signature appearing on said coupons. The bonds and coupons shall be payable in
latirful money of the United States of America at the office of the Union Planters National.
Banlc o:f Alemphis, Tennessee.
~~A"~
The bonds, and the ini;e rest thoreon, sha1.1. be payable so_l.ely out of the ~wirn:~iin~
Fool Revenue Bond. Fund as herei.naft,-;r defined, and shall be a valid claim of the holder
thereof on1.y against such Fund, and the amount oi.' the revenues pledged to said Fund, which
amount of said. revenues is hereb-,r pl.eniged and mortgaged for the equal. and ratable payment
of t•he bonds and shall be used. for no other purpose than to pay the principal and interest
of the bonds, except as hereinafter set out.
SECTIOPI 5. That sa.i_d bonds and. coupons sha1:1_ be in substantially the follota.ing form
i_ii~I1:T'F3I) STA'I' ~1S OF AriFr.ir,p
C0i)iITY f?I' C11I'1'T'~i~l~)Fii
C1'.['Y OF iD~,S'i' ,Tr?I11'HiS
~,
Svri_mmin~ tool_ revenue Bond
IIo.
l;idObl AA?T. IIL'Ii F3Y TH":.T~ rr>r,e?)rTm^,.
Tir2t the city of ldest k7emphis, i.n the County of Crittenden, State of Arkansas, for
value received hereon- prom:lses to pay, solely from the special ftznd provided therefor as
here i_nafter set forth, to bearer, the stun of
llnT,l,~ 1'S
on the first d.ay o.f 1?ay, 1°~, with interest thereon at the rate of per centtun
( ;°) per annwn from date tzntil pa.i.d, payable semi.-annu~l_I~r nn the ~`irst day of Play and
Plovem er of each year, beginning 1lovember 1, l~'[~, upon presentation and surrender of the
annexed. coupons as they severally become due. Both principal hereof.' and interest hereon
shall_ be pa.;yable in la*,-rfttl money of the iln_i.ted. States of Arner.ca, a,t the o:Cfi..cr; of the
1lnien planter.^s i`?ation^1 ?lartl~ of n?e!nphis, Tennessee,
Tkri_s bon<l is one of a series of bonds aggregating Three Hundred Twenty-six Thousand
Seven Iltzndred Do17_ars ('';;326.700), a11. of li'_te tenor and effect, except a.s to nwnber,
denomination, interest rate, arzd maturity, mnnbered f'r•om 1 to 32'x, both inclusive, and
issr.ted for the rntrpose of constructing two mttriciraa_ srrimmi.nm pools. (The two pools together
u•e hereinafter caJ_J_ed the "SysL-em." )
This bond. anct the series of which it. forms apart are issued pursttarzt to and in accordance
*ai_bh the provisions of the gates and Constitution of the State of Arkansas. vrd do not constitute
an inclelzte lness of th.e City of Gdest k~emphis within any constitutienal_ or statutory limitation.
Said bends are payable solely from a fixed amettnt of the net revem.ies from the System, which
amotuit shall be sufficient t.o pair the principal o" 2nd interest cn the bonds as the same become
due and payable. Saic1 vnnunt has been du1.,y set aside and pledged as a special ftt_nd for that
purpose and ident.f ied as tho "St•rim?na_nc~ Pool Revenuo Bonci Fund.," created bj• the orcJ.inance of
said City of i~,lest t'crnphis under rahich this bond i.s authorized to be issued, and said City has
fixed and. has covenanted an~i a.greod to maintain rates for the use of the Sysi,em and the sales
and. conce.sions i_ncidental_ thereto which shall_ be sufficient a+., all times tc provide for the
payment of the principal of and. interest on the Uon-1s of thi..^, issue 2 the sa.nze become due and
payable. The City pledges anlr available net sru•pln,•z revenue from the operation of its electric
l:i.ght and power plant thai; may be needed to suppl.°ment the Stairnm_ng F'ool_ Revenue Bond Ftuul.
The Ci_tzT hcreb;,r acknowleclaes that i.t has r•eceivecl fvll payment in cash for this bond and
that it ha; no defense, ofE'set or courrterc7.avn against said bond., which is issued with the
intent that the 1_aws of the State of. Arkansas shall. govern the, construction thereof.
The bonds of tlzi.s issuer are callable for pa3mzont prior to maturity in inverse ntuner:ica7_
ordez• at par and accrue=_d. interest, as fn].lows: From surplus earning from the operation of the
System. nn any interest pay~n~ date: from funds .f.'rom any source, on any interest paying date
on and aE'ter I•"ay 1, 1950. ]:n the event the City elects to exercise i_ts option to call bonds
for paymrent prior to maturity- it shall publish notice of such call once a week for two weeks
in some netrspaper of gezreral_ circulation throughout the State of Ark,~ras, the first. publication
i;o be not less than fifteen da~fs prior to the date fixed for redemption. and the notice shal_1
give the number and matttx•ity of each bond being; ca.l_led. Paclr bond so called shall. cease to bear
interest after the date fixed .for its red.empt,ien. provided Funds for its patrr?ent are on deposit
frith {;he pavin{s agent at that bane .
IT IS 1fi:REBY CERLCI~ IIsD, Rr1CTi'EU t~1D I)i CT,r4irlU that all. conditions, acts and thinl;~s required
to exist;. to be performed, a.nd to happen precedent to and in the issuzutce oI' this bond do exist,
have been per:L'ermed, anal have happened in due time, form and marrnc-r asrequired bar late, and that
sufficient of the i.narte and revenue which is deemed to be derived from the operation of said
system has been pledged to and roril7_ be set aside i.rtto said special f'tutrl fox• the paym^n; of the
principal of and. interest en said bonds.
This bond shall. not be valid until it shall have beer. authenticated by the certifica±.e
hereon, duly s:i_gned b;~ the Union :E'lanters ilatinnal Ban.: oi'' rlomphis, Tennessee,
A ~j ~
`-~ ~ 4
..,, _
,.... .
f _
II.1 47ITNFSS TiIIiERFOF, the City of West Ilemphi_s, Ar}cansas, by its City Council,
has caused this bond to be signed by the Mayor and City Clerl: thereof, and sealed
with the corporate seal of said City, txnd has caused the coupons hereto attached
to be executed by the facsimile signature of said Mayor, all as of the first day
of March, 1955.
CITY OF WJ~ST MEMFIIIS, ARKANSAS
By
(Seal )
~~Att~e~~st: c~
City Clerk
Mayor
(Form of Coupon)
Ido. ~A
9
On the first day of Iiay 19 the City of West r'emphis, Crittenden
November.
County, Arkansas, unless the bond to which this coupon is attached is sooner ca7_led
for payment, promises to pay to bearer the sum of DOT];ARS in
lavrful money of the United States of America, solely out of the fund specified in the
bond to which this coupon appertains, at the office of the Union Planters Plational
Banl: o_l' I~}emphi_s; Tennessee, being interest then due on its Swirvning Fool Revenue Bond
dated March 1, 7.955, and ntunbered ,
CITY OF Wt,ST II'_!;P~IPHIS, ARKANSAS
Uy
--------.-___ -~ P4ayor -_V
(The first coupon shall be for ei.rrht months' interest. The ??a~,ror's signature
on the coupons may be l.ithoaraphed or engraved,)
On the bac'c of. each bond shal.7. appear the fallowing;
C'~ ITLFIGATE
This is one of the 327 bonds aggregating ?4326,700 described within.
LiT1ION PI,I~I'I'ERS AIATION~IT B11P11_i
Memphis, Tennessee
OF Ili31dPHIS, T}~IvTPd1~SSFE, Trustee
By _ _
'i~•ust Officer
SECTIQU 6. The City Cowici_1 hereby agrees to fix such rates for the use of the
System, for the sales o.f merchandise, foils. and confections, and for the rental of
concessions in connection erith the System, as in the judg;~;ent of the members of the
Council will produce the greatest amount of net revenue from the operation of the
System.
SLCTlODt 7, Swimming pool F~'und. The System shall be continuous7.y operated as a
x•eventie-producing itnderta.!-ing. The inr_ome a.nd revenues from such operation sha7.l be
set aside into a separate and special fund hereby created and designated "Sz~rimming
Fool Fund." Such incomo and revenues are hereby pledged, and shall be applied, to
the payment of the operation, rera,i.r, betterment, and ma.i.ntenance of the System, to
the payment of a.ll bonds issued under this ordinance anc1 secured hereby and the
interest thereon, and to providing an adequate depreciation fund, i.n the manner
hereinafter set out,
SFCTIOI~I u. Swimming Fool C)peration and Maintenance Fund, There sha7.l be paid
from the Swiruni.ng Pool Fund ~nto~a fixed which is herebycreated and designated
"Srrinuning Pool Operation and Isaintezlv-~ce Fund" (hereinafter called "Operation I'unrl" ),
on the first day of each month tahile any of the bends issued ttnder and. secured by
this ordinance shal7_ be outstanling, sufficient money to pay all the monthly operating
expense,^, and to ma'-e reasonable provision .for the repair and maintenance of the System,
Fi.;led anneal charges. such as insurance and the cost of major repaix• and maintenance
expenses, sha7.1 be computed and set up on an annual basis and. one-twe7.fth of the amount
thereof shall be accumulated in said Operation Fund each month. llisbursements from said
fund shall include salaries, wages, cost of maintenance, repair and operation. materials
anti supplies, ptunping costs, and insurance.
If any surplus shalt be acewnulaaed in the Operation Fund over and above the amount
tahi.ch sha7_]. be necessary to defray the oust of ma.inta:i.ning, repairing, and operating the
System during the remainder of the then current fiscal year and the next ensuing fisca7_
year, such stu•plus or excess may be transferred and paid into the Swimming Pool Depreciation
Fund or into the Swimming Pool Revenue Bond fund; provided, hot~rever, that such transfer or
pa}anent into the St~rimming Fool Revenue Bond Fund shall be in addition to aJ_1 other payments
hereinafter required to be made into said fund.
~Y
SI]CTIOI~I ~. 5wirnrn:ing Pool Revenue Bond Ftuzd. (a) The bal.=tnre of the revenues o" the
S,yst,em after malcinrr re regtttre_ paymer~s~n'~sa_d (~ie.rati.on fund is hereby declared
to be the net revenues of said System. There i.s hereby created. and so long as any of
the bonds hereby aizthor.zed. are outstanding there ^hall be maintained, a sinl,_ng fund to
be knot.m as the "Srri.mmi.ne' Fool Revenue Bond Fund" (hereinafter snmetines called °Nond fund")
into which there shall be set aside monthly from said net revenues such portion thereof as
wi_11 be suf'fi_cient to pay the ini;crest on said bonds as the same becomes due, to pay the
necessary fi.sca7. amency charges for pay.np bonds acid. interest, to pay the principal of said
bonds at or before mattrity as herein provided, and. to create a Reserve Fund. T+, is hereby
determined and agreed that the minimtLm amounts so to be set aside and. pai.rl into the I2ond
r'un1 each mrrxth for the accotuzt oP the bonds herein authori,aed shall be. i.n a~lditi.on to the
paying agent's fees, net less than one-sixth o:f the amount of interest becoming due on the
ne;,t stzcceeclin~? interest paynnent date plus one-ttre].fth of the amount of principal becoming
clue on the next succeadin~ princ:i.pal pain„opt date, p7_u ; ''33:3.33 until a 12esex°ve i'uncl of
~~20,000 has been acctu•n.tlated: prnv~ded, hot~;cvcr. that no .further p,n,rmrents need be ~•rade ini;o
sa.i:i Bond rune! after and so 1on~; as such artotutt of i;he bonds shall .have been retired that
the amouunt then held in such Bond rand, i.nrlir~Iing the Reserve Fund, i„ equ.~.1 to the: exit;ire
anount of the interest and principal that rr1.7. h.aae accrued and become due at; the, time of the
retirement or maturity o:E' all the bends then remain _rr~ nntstaun~ain,:,.
The undertaking to transfer and pay the prescribed amounts from said Swimming Pool Fund
into said Bond F'wnd shall begin as soon as the revenues are available, and shall be cumula-
tive so that in the event the net revenues during any month are inadequate to make the re-
quired transfer and payment, or if for any other reason there be a failure to make such
transfer and payment, the amount of such deficiency shall be make up from the first avai.i-
able net revenues thereafter received, and the same shall be in addition to the amounts
otherwise provided to be transferred and paid into said Bond Fund,
(b) Said Bnnd Fund shall be used solely and only and is hereby pledged for the purpose
of paying the interest on and accomplishing the retirement of the bonds herein authorized.
The payments are as .fo.llows:
YEAR FRIl?C1FAT, TTl'1iRLST TOTAL
Play ]. of. rla.~r 1 R._ llov. 1
each y-eax' of each gear
1955 I, nr.,,;, n0 '~ 1~, 856.00
~
1956 12.7OO.Op 3.6lt2.00 3, 515.00 19, El5'7.00
1957 13.ooo.or~ 3.515.oc) 3~„~r.oU 1y.9oo.00
1953 13,000.00 3,3"5.00 3,?_5K,O0 19.ti4o.0O
).959 ]_3,00~?.00 ',255.00 3.12r,n0 19,3"o.On
].>60 1.000.00 3.12;,00 2,985.00 20,110.C'O
14ti1 1.1t.Q00.00 ?,°i?S.QO %J~r' 0("")
2 1.9.830.00
] c'2 ]_l, . oOO, 00 2 , X1:5. o0 2 7!~!= , oo ] 9 55~, „ )
.1.4(;3 ]_Lt 000.00 2.705.00 2, r,.::~5, r)0 15?.270.00
~~>6.~ 1.5.o~o.co 2,565.t,o 2,1~1~,.00 19;9eo.c~o
1965 1 ~. i10(7.OO 2.1x15'.00 ?~ ~'`~.0!? 19~ 'BO.ot~!
1966 1.5,000.00 2,^°'5,00 2,0° 2~; 10"3. ~r
]967 7.5,noo.nn 2 t~~_.25 1,927.50 ]~,023.7~"
1SC,8 1c On0.00 7_. c?7 50 1.7Lt7. >C; 1975.00
:1969 16.000.40 ]..7117,50 ].,~i7,50 15,315.00
1.970 16,000.00 1.567.50 1.?87.5n 18.955.00
]-971 1'!,000.00 1,387.50 1.,175.00 19.562,50
1°72 18,000.00 1,]_75.00 950. n0 20.125.00
1,='73 1~. oon. r~o 950.00 725. ~)0 1C7, '.75. o0
]-97~t ~ ~', n0n, nO 725.00 !x87.50 20.27..2. ~~0
].575 19.000.00 1;.87,50 25n.OO 1,737.50
1976 20,000.00 250.Oi1 -__ ~__ 20,250.00
It shall be. the duty of the Treasurer to deliver to the Trustee a voucher payable from
the Bond Fund, not less than five days before the due date of any semi-annual payment of
interest or annual payment, of principal, for the amount of such payment together i,rith the
paying charges hereinafter set out, to be used to pay bonds and coupons of this issue as
they mature and ar.e presented for payment.
(c) The monthly payment of $.333.33 shall be put into a fund which shall be designated
as the "Reserve Fund," until such fund ConCains a total of $20,000. After this fund has
accumulated $20,p00 it shall be maintained at that level, and in the event it becomes
necessary to withdraw any money from the Reserve Fund, the amount of such withdrawal.
must be replaced out of the first available funds. The Reserve Fund shall be held as
a trust account to meet the payment of interest or principal to whatever extent funds
in the Bond Fund are insufficient for t}nat purpose.
SECTION 10. Swimming Pool Depreciation Fund. Tinere shall be paid from the Swimming
Pool Fund into a vn w z'c~i s er'e y create an designated "Swimming Pool Depreciation
Fund" (hereinafter called "Depreciation Fund"), 5,0 of the funds remaining after the
Operation Fund and Bodd Fund have been provided for, until the Depreciation Fund reaches
the swn of $12,500, and as long as this fund remains at $12,500 the payment of the above
described 5~ may be suspended. This fund shall be used. for meeting special and unfore-
seen emergencies of repair or replacement work which could not have beo_n anticipated or
which is essential for the continued operation of the System, and to provide for renewal
of worn out or obsolete machinery, and srzch other purposes as would normally be considered
within the scope of this fund.
l
L,~
SECTIOPI il. Each of the bonds shall contain a recital that the City has re-
ceived full payment in cash for such bond and that it does not have any defense,
offset or counterclaim to said bond.
SECTION 12. In order to make improvements or repairs to the System, the City
may issue bonds secured by a second lien on the net revenues as hereinabove defined,
upon the following conditions, namely: that the bonds shall be payable only out of
the revenues of the System that shall remain after prnvidinq for the maintenance,
operation, and depreciation of tyre System, the payme>tit of the principal and interest
of the first lien revenuo bonds, and maintenance of the Reserve Furrd.
SECTION 13. There is hereby granted to the Trustee for the bondholders a
mortgage lien on that part of the System constructed or acquired from the proceeds
of the bond sale, and this mortgago lien shall continue until all the bonds and
interest thereon are paid in full.
SECTIUPd 1lt. The City owns and operates a municipal light and power plant which
earns a very substantial surplus each year over and above all costs of operation and
maintenance, and the City pledges and agrees to pay each month out of the surplus
revenue derived from the light and power plant whatever amount may be necessary to
enable the City to pay into the Bond Fund the payments prescribed by this ordinance
to be made into said Bond Fund, including any payments needed to 1?!e made into the
Reserve Fund. The City further agrees that during the time these bonds are outstand-
ing it will not sell, enctunber, or otherwise dispose of any material or substantial
part o.f its light and power plant, and that it will not make additional pledges of
electric .revenue either for electric revenue bonds or to aid other municipal operation
unless the audit of the operation of the light and power plant for the immediately
preceding fiscal year shall show that the net earriings of the plant are 150% of (a)
the total annual reasonable requirements under presently outstanding conditional
pledges of revenue, including the, pledge for this issue, (b) the average annual
requirements of principal and interest of any proposed electric revenue issue, and
(c) if it is proposed to give a conditional pledge for later revenue bonds for
other municipal purposes, the reasonable estimated annual requirements to fulfill
such pledge. "Net revenues" as used in this sdction are defined to be those re-
venues of the System remaining after paying or making provision for payment of the
costs of operation and maintenance and depreciation thereof. The pledge of re-
venue in aid of the payment of the bonds herein authorized is a conditional pledge,
and any electric revenue not needed in any one year for the purpose of supplementing
the net revenues from the System shall thereupon be released from this pledge, and
this pledge of electric revenue is subject to the prior pledges heretofore made in
support of former bonds issued by the City.
SECTION 15. Ttre Mayor and City C'lerlc are hereby authorized and directed to
execute the bonds and deliver to the buyers upon payment of the full purchase price
and accrued. interest not less than $200,000 in value before conversion, as soon as
the City can legally make delivery, and the balance of the issue as soon thereafter
as the total cost of the System cazi be determined, and any bonds not needed to pay the
cost of the System shall be canceled and such cancellation shall be reported to the
Trustee.. The mortey received for accrued interest shall be paid into the Bond Fund.
The balance of the money received for the bond issue shall be deposited in a special
fund to be known as the "Construction Fund Account" in one or more banks, each of
which shall be a member of the Federal Deposit Insurance Corporation, and each de-
pository shall be required to furnish security for said funds either by a bond ex-
ecuted by a corporate surety company authorized to do business in the State of Arkansas
and approved by the City Cotulcil, or by the escrow deposit of United States Bonds.
Tlie money in the Construction Fund Account shall be used solely for the purpose of
paying the cost of the Systern according to the plans therefor, together with the
necessary engineering and legal expenses, and interest during and for a period of
six months after construction, and other expenses incidental to such construction,
and, except for ].e gal and engineering costs, shall be paid otrt only orr engineer's
estimates, and each depository shall be notified of this requirement.
SECTION 16. For and in consideration of the purchase and acekeptance of the
bonds authorized by this orciinanre and to facilitate their payment, with interest, the
City agrees to tYte following terms:
(a) None of the facilities or services afforded by the Stystme shall be furnished
without a reasonable, charge being made tlrere>for. In the event that the City or any
department, agency, or instrumentality thereof shall avail itself 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 instru-
mentality and shall be paid for as the charges therefor accrtre. 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 s}rall be construed as requiring
the City or any department, agency, or instrwnentality thereof 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 out-
standing, the Cfty agrees to maintain fire, lightning and tornado insurance on the
System in an amount which normally would be carried by a private company 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 malting them payable to the Trustee as
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 tl~e 'T'rustee or the Trustee
shall be furnished evidence satisfactory to it t}rat the policies have been issued and
carry the loss payable to the Trustee clause. In the event of loss, 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
`~!~~~.~
it.s 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
f~5000.00 and shall be approved by the 'T'rustee.
(d) All revenues from the Sys+..ern shall he deposited in such depository or depositories
as may he lawfully designated from time to time, sttb~ject, hovaever, to the giving of security
by each such depository as now or as hereafter may be required, and provided each such de-
pository shall hold membership in the Federal. Deposit Insurance Corporation. All deposits
shall be made in the name of the City and be so designated as to indicate the particular
fund to which the revenues belong, Payment .from each fund set out in this ordinance shall
be made. by checl; or voucher signed by two duly designated persons and drawn on the depository
in which the moneys in said fund shall. have been deposited, and earh such check or voucher
shall briefly specif.'y the purpose of the expenditure.
(e) The bands, together with interest thereon, are not general. obligations o£ the City
nor do they constitute an indebtedness of the City within the meaning of any constitutional
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 tite
revenues pledged to said Ftmd, which Fund is hereby pledged for the equal. and ratable pur-
pose of the bonds issued by authority of this ordinance and shall. be used for. no other pur-
pose than to pay the principal and interest. of the bonds as the same mature, except as pro-
vided by this ordinanco_,
(f) The System shall be operated upon a fiscal year basis, beginning Jan 1 of each.
year and eiidiny and including the following -
(g) It 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 Aritansas, including
the malte.ing and collecting of.' reasonable and sufficient rates lawfully established for
services rendered by the System and. applying the revenues th erefram 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 riot sell, lease or other. wise dispose o£ any substantial. portion
of the same. The obligations of the City set out. in this ordinance, the pledge of revenues
and the Cityts agreement not to mortgage, pledge, or otherwise encumber the Systeny shallbe
made a matter of public record by having a certified copy of this ordinance recorded as a
mortgage in the office of the Circuit. 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 e~mnlete and correct entries shall. be made of any trans-
actions relating to the System, The City agrees to have these records audited by an in-
dependent 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.
(,j) If there be any default in the payment of either the principal. of or the interest
cn any of the bonds, the holder or holders of any- of the bonds may enforce any mortgage
lien granted by statute and may by 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 paynnent. of the principal of or interest on the bonds or if the City shall.
fail to keep any other obligation which it herein assumes, and such default shall continue
for thirty days thereafter, any court having ,jurisdiction in any proper action, which may
be instituted either by the Trustee on behalf of all the bondholders, or by the holder o£
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 of the
operating expenses, and to apply the income and revenues in confhrmity with said statutes
and this ordinance providing for the issuance o.f said bonds, but when all defaults ar.e
cured, the receivership shall be ended and the management aced control of the System .ro-
stored to the City.
(k) The City further Covenants and agrees that if default is made in the payment of
any bond or. coupon, or if the City fails to meo_t any sinking fund requirements, 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 Wray institute
suit to enforce the p:Ledge lien herein granted. The failure to exercise this option upon
any default shall. not be a waiver o.f the right to exercise it upon any subsequent default.
(1) The bonds authorized hereby shall be callable for paynnent before maturity accord-
ing to the terms set out in the bond. form.
(m) 'The charges for. paying bonds and interest coupons shall he 1/8 of to on principal
and 5~ per. interest coupon; provided the minimum foe for. any semi-annual payment shall be
one dollar. No withdrawal. from the Bond fund shall. be made for any purpose other than the
paymtent of bonds and interest, and the monthly deposits in the Bond Fund or with the Trustee
shal..l be at the sole rislt of the, City and shall not operate as a payment of the bonds or
coupons until so applied.
L~,~
~ _ _ _.. ,
(n) The City hereby agrees to mare all payments on bonds and interest only through
the designated. paying agent, A11 bonds paid or ptu•chased, either at or before maturity,
shall be canceled wha_n such payment or purchase is made, together with all. unmatured
coupons appertaining thereto, shall be returned to the City, and shall not be reissued.
A7.1. unpaid interest coupons matux•i_ng on or prior to the date of such payment or purchase
shall continue to be payab]_e 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 for any reason be held il7.egal or inva7.id, it
shall. not affect the validity o.f 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 b}* authori.ty hereof; and after the bonds have been issued and paid for, the
terms o:C said provisions sha7_J. not be changed except frith the trritten consent of the
holders of all bonds and coupons then outstanding.
(q) ?~iherever reference is made i.n this ordinance to a Trustee, it sha7_l refer to
The Union Planters Tdational. Banlc of TTemphi.s, Tennessee. The said Trustee shal]. be
responsible only for wilful. misconduct in the execution of this trust. The recita]s of
fact herein contained, and conained in the bonds, except the .recitals in the Trusteezs
Certificate, are st~ements of the City and shal.7. not be construed as being made by the
'Trustee. The Trustee shall not be required to effect insux•ance against fire or damage
to mortgaged property, nor to advance any money to pay instu•ance premiums, nor to pay
any charges or special assessment;s against said property, nor to see that this pledge
of revenue is properly recorded and Icept in force as a pledge, nor shall it be required
to take notice or be deemed to have had notice of arty default of the City in the fail_ut•e
to perform any of the conditions of this ordinance, unless said Trustee shall have been
specifically notified in tariting of said default; nor shaJ_]_ it be required to tape any
action hereunder until it shaJ_]. have been indemnified. to its satisfaction by the holders
of the bonds herein menionted, or some of them, against loss or damage on account thereof.
The Trustee is authorized. in its discretion to release any real or pex•sonal property no
longer used in the operation. of the System, The holder or holders of a majority in value
of the bonds at any time outstanding may at their option remove the Trustee and a;anint 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,
The Trustee may resign at any time upon ten days written notice to the City Clerk. The
successor trustee shall. have al.l. the rights and potrers of the originally appointed trustee.
SECTICzN 17. It is hereby asceri;a.i_nerl and declared that there is immediate need, in
order to protect the health, the lives. and the property of the inhabitants of the City,
to construct the improvements contemplated. by the passage of this ordinance; therefore, an
emergency e:cists and this ordinance is necessar}- for the preservation of the public peace,
health and safety, and sha7.7. ta'~e effect and be in force without delay from and after its
passage.
An ordinance entitled "An Ordinance To Zone Avondale Gardens Subdivision First
Addition `1'o The City of UTest i~lemphi.s" was read the second time by A_ldernivt Bollinger,
who moved the second reading be approved, the motion was seconded by Alderman Bledsoe,
and upon vote, the Aldermen voted:
Aye: Bledsoe, Bollinger, Eden, FSnley, Foster. Tlanchester, Potrers, and Ray.
Nay: None.
Playor Price appointed a conmd.ttee of Aldermen Bollinger, Bledsoe, and Finley to obtain
the services of an engineer and./er an architect for the designing of the two swimming pools,
the preliminary plans and specifications, etc; and investigating sites for the locations of
the pools,
Tlayor Price informed the Council_ the members of the Boards of Examiners for Electricians,
Phtmbers, and Gas Fitters are being paid the sum of K.00 for each meeting examinations are
ronchzcted, however, payments were not commenced until. 1952 for the Electric and Flumbing Boards
and in 1y53 for the Gas Fitters when a verbal order tras given for such payments, said order
being not in accordance frith provisions of Ordinances 9B, 99, and 2G1 Creating said Examining
Boards., The matter teas discussed, and it ryas the concensus of opinion that the members of the
Boards are entitled to compensation for services rendered to the City of tidest Memphis in conduct-
ing the examinations; thereupon, the City Attorney taas requested. to prepare a resolution tltzt or.
and after this date each member o.f the Electric, Plumbin,, a.nd Gas Fitters Examining Boards be
paid .;75.00 for each meeting attended to conduct examinations.
ConstT•ttct:,i.on rs+,i.mate PJo, !~, from Allen ~?c Hoshal7- for the ?Jater System Improvement in the
amotuxt of ~~7, 510.40 tras presented, I4otion was made by Alderman Potrers and seconded by Alderman
Foster: That the Construc~ion Estimate IIo. 4 be approved, and check be issued to Frank H. Lee
Company in the amount of .'~7,510,L~0 from the Public Utility Bond. Construction Fund. Upon vote,
the Aldermen voted:
Aye: Bledsoe, Bollinger, Eden, Finley, Foster, ilanchester, Potaers, and Ray.
?lay*: Pdone.
Statement of Choctata, Inc. in the amount of y`2,111~7.58 for materials used in Sewer
Construction taas presented. After discussion, motion taas made by Aldex^~nan Bollinger and
seconded by Alderman I~9anchester: That check be issued in the amount of :~2,41G7,K8 to
Choctata, Inc. as per statement of J<•uzuartr 23, 1955. from the Public L?ti_lity Bond ('onSi;rnrt;nn
~~~.
Mayor Price informed. the Coturci_7_ it had been ascerta9ned i t trou_l~l be to the best: interest
o:f' the City to e„tend. the .Avond.al.e Ptah. Saxti.ta.ry Se?~rer to serve a lame area bei_n~ developed.
ifr. A, P, Hea.~>,7.er, Consultssxg E'nf;ineer, Urns present and. advised the Council the extension
c:oul.d be made under provisions of Contracts 1 arul 2 w_t}t forth Janes Constt•uct9.on Compan;yr as
the amount would be :~26,251t,75; saic:l a:totmt based on the or9.Final contract bids of ;North Jainos
Con->tructi.on Compa.ntir. .lifter discussion. rto+,9.on tr~s made by r',lderrnarl 1'otrers and. econded by
~1td~,x^tnan Bledsoe. 'Phat the -;ayor be au~hhorized to e~.. r`ute change 2rder Th. :' Contracts fdo. 1
ant 2 in the ar.otuxt of :2G,25L~.75, Upon vote, tnn :?l ~ex•nten voted;
.ye: B._erlsoe, 5o7~_~an~;er. Is'den, Finle;.r, roster, 2"a.nchester, Fot~rere. and i~a~~.
Pdazr• ilonc,
It t~ras br. oup;ht ±.o the Cow~ci 7 rs attention that i.t tJnulrl be necessarzi to a.dv~rtise for
aids .for the Con,,^,t.rttr.ti-op of Avalon Heights Fttrtpinr; Stat.icn and the 3th Stxoot Fwtpin,; Station,
hot,-ever, the plans on the 3th .,treet Station cave pct been completed to date: Thereupon, motion
w~, made by Alderman Ra.y and seoonderl bar 111.derm~n .den: That trr, r1, ~l. IIea~;ler, Consulti_n~
Eng:i_neer. be authorized to advertise for bids on t:he !'lval_on heights and 3th Street T'umbinr
5tat.9_cns. iTpon vote, the /;l.dermen voted:
!1?re: B1ed~sce. Bollinger. laden, rinlev, T~'oster, iianr_itest:er, Frrr:,rs. anti ?ayr.
?'Jay: Pdone.
The foliotri..nt report of the Building ]:nspcctor tray T~.resenired:
A Report of Btz 1dinQ Applications a.nd Permits I3su~^d 1~^om Januar~r 1~3, 1.9K5 ~to 1~ebruary 1. 195.
Applica~t:i.ons Denied -- }'. C. P:aplan ~%7.6 i:ast Broaci?,rajr
Deacon -hoe , Ilot I~'}eet Super D'ihe 3orte I3egul.ations
~`?tmer
Jac': B.rot•rn
hr~:~d Block
il~rruan ,,"pears
J, h. Holcomb
131.11 ?'ianning
?•1il:pie 'Jatsor?
t?ov r`c"ni.ahL
Chickasar.r T,~,•. Co.
Chicl-asarr Lbr. Co.
I3i.7.'l.v Johnson
"'r. S.. Green
Fil~nore Griffin
IPoti.on eras made bar A1der~nan "ancltcster an%1. .^eccnLori b,r '',1 tar;uan t ot•rers: '.l'hat Lhe report
of t:he Btri_ldina Inspector be arl,rovect, upon. vote tho A1.1erm~n voted:
Aye: Bledsoe, Bo7..i.5.naer, Eden. Finley. Foster. }1ar.chestez^. ?'o~,rers, acrd ~?.ay.
Chief F1MO Antler. son present:ecl the Anrnta7_ ?ei~ort for 1°S~r .For i;he mire Department. ilor]-r
of.' the ??epart:ntent,, ftxturc plans and recrnnmon lati_ons of the Ar',ansa.s Inspection anti Dating
>~ureau Caere rcr?d an!1 r_nnsi:lered. [lotion 't:lopted renvest.ng Prayer Price to trait;e a letter o:E'
cor,unendati.on to the Chief and t}te r~~tbora n.f t}~~ie Fise 1)epar.tment for their taorh dtzt•ing1951.t,
Alderman Freera.~n Finley gave a. brief restr„s, cP a.cti-on to}-:en in the General Assembhr on
leei.slati_on that trould enable cities to obtain artrlti.ona7 z°e£tznds on tart :non:i_es paid to ttte
State of Arkansas. tlayo.r T',"irP informed -the Ccrtzncil akrl,_t,:i_nna]_ hearings on the matter are t:o
be he1c1. arlc9 renues~lsd ~n~a•~~~tbers of the Council 'to ahem:? the hearings in Li.t~tle t'ivck. if possible,
I'.o~tion taas made by Alderman 17~11.~nper a.m± ePCOrr-1e 1 b:,r A7 lerrn2~~ Bledsoe to ateprove.
authorize . rat if j*, any l j or c enf irrt p.~.`~nen t o C the f o7_l olr:i ng bi.l.l.s ;
GJ II?RAT~ Fkl~?i)
T)irector Irzterna)_ "ev.
')~tector Internal ??ev.
Ar} , State T.rea~tt~•er
:?. Harris
G . l''e 1^fl;Lt9071
(~. Gt~rr•et,t
.:. ?IoT~•~I •
J. 1<f?111r
i. i pr-ni,•.~
P'. ~iCaleg
:?. Fulli_ua~n
S'I, llarrl S
C T"oslev
C . I~ovd
B. Posl_ey
,. i)azlcberry
t :::IT ,:!,~T FkT<l~ _ r;nlr'I':CIt1T';tl
El ~ ?n
j' T
~ }lrris ~
7 .,
7_, (lf ° 7.2 J, liahrter 53.22
3l~..~2 Johnsen 72.'u
11E3.1C? ,T, I'cCuJ_7.a• 72 . C~8
7~t • 75 `f', _?osley 72 . c8
7.15.10 G. Floptci.ns 72. ~~
7.~~?_ . 50 _,. lse 72 . G8
10:2.50 }~. Staten L~3.78
57.75 J. ;Matson 7?_ .::~~3
72.,"..g !?. ctt-. 72.68
7?•`-"~' . Coles 72,x.:8
~ • 33 A . Ileag7_e.r 2 , 000, 00
72.'x'
I`i_dsouth Gas Co.
1!1?..7.7
72.r~c 9, ~~. ,'Illitten 137.50
GLN1 RAL FUNi)-CONT.
C. Duncan ;;137.50 Farmers Supply Co, ~11.0.81t
J. Deilome 137.5t:~ Federal Laboratories 392,50
C. T'icT~leil 137.50 Finley ~slectric 1814.51
V. Rami.nes 137.50 Hamilton Clinic 22.00
R. i3idclick 125.00 Holland !Motor and Implement Co. 9,49
J. Fox 125.00 Dr. G. Jay I]:1: 185,00
Sinmions 125.00 Johnson Auto Co, 51,75
P, ti~are 1.25.00 Ben hl.inice 7,30
J, Ho*•rell 275,00 Ling Ch~tica]. Co, 100.09
B, ;l.lison ].70.00 Y~lindtaorth Instu ance 105.07
B, Busby 17`.(!0 L. TcCuiston, Jr
3.75
4~1, Ferrine 1.25.00 IlcOaa Chevrolet 6,38
;, lnderson 175.00 T~Iay, Graves, Inc. ':, 50
0. Hatton 150.00 1~'eri:vether =,pothecary 2.55
~?, Barbs 130.00 Tlid-South Oxygen 1.80
., Ilci'ay ].25.00 Rational Institute ;sunicipal. Lary 47.50
S, Smith 15[.75 Ozbw~n-:lbston & Co. 38.5:
R. Herr 122.l~7 Rays slectric Co. 9.1(9
~). Bakke 95. ('7 J, A, Riggs Tractor Co, %77.45
Funerican-La_rrance 10.43 Russa].l Tlniform Co. 10.38
Automotive Electric 10,05 S and J Products 61.72
Barnett Auto 7,70 Southern Blue Ya-•i_nt 5.73
H, Besett 70.57 Standard Parts Co. 8.15
Carey Eqpt. 0.90 Southern Uni?crm Co, 7?.2K
Central Supply Co. 180.~~0 ~^a'!.~ir.g Ti r^ Co. ].lt.83
Conyers Sign Service 8,00 Tenn. Valley L'lectric (;6.31
J, B, Coolc Auto Tiachine 153.51 Tayloe Paper Oo, 2p, ~,~
Craddock Sales Co. 33.50 Tri-State Eqpt. 51.91
Crittenden Country Times lt4L~-0 C. J. Upton 11;0.15
Eden Pontiac Co. 11.71 `.~?arcl Publishing 29.40
Is1.l~hart Brass I-1fg. 15.5; TJa1.li.n. Di c1 ey F: Rich 11.12
Esso Standard Oi]_ 58]..,89 6?est,4emp}ris Scrap Iron 4.08
Farmers Supply Co. o?.n~ Ul. M. Toggery 842.52
T'~.rst Step Garage 2.50 ~T, '_~t, r~lachine Shop 38.00
Garrison Ready-T~1ix 61..26 .-d. TAT. Veterinary Hospital 28.00
}canna Plumbing Co. 258,08 Cash 100.00
Fiar•rh~ins Eqpt. Co, 27„ -8 J. B, I}arlo~;r 310.00
Holland Implement 7.51( Business ?Ien~s ilssurance. 93.90
Johnsen Auto 21.77 H, I=rice 400.00
H. A. Johnsen 14.28 J. Iii.mas 50.00
Ben iain',:e ;Motor 1t .87 F, Chren 50.00
Tray, Graves. TlcCaa 53.]_9 :?. Ray, Jr. 50.00
. 2TCClanahan .12 J, Bledsoe 50.00
ilernphis Tent ~~ At-niin@; 1!x.39 C. Foster 50.00
Jsd-South Oxygen 1.8E Bollinger 50.00
National In~i.tute 20.00 R, Eden 50, 00
Ozburn-rbston & Co. 59.09 F, Finley 50.00
Rays Electric 11(.21 F, Poi•rers 50,00
S & J Products 29.70 A, T~ianchester 50,00
Tayloe Paper Co. 21.22 ~?. IIarris 300.00
S, C. Toof and Co, c~.1t0 S, Smith 15.25
Tenn. Valley F~lectric 08,56 Ruby Heir 95.67
C, J. Upton 8c Co. 50.00 ;~, Rubens 200.00
6?arcl Plubli.~i.ng 10.80 J. Hillencamp 1.82.90
1.1, r:r. P•iachine ec ?^Jel.di.ng 13.0(; D. Ba};':e 90.67
U?, TI. Veterinary Hospital 8,00 H. Holland 375.00
T'iidSouth Gas Co. 1(•.59 B, Holland-heals 1,122.1.45
Ar'.;. Paint ~~ Glass Co, 11.39 B. ?~ixitten 152.SO
Automotive "lectric 25,84 C. Duncan ]1(7.50
:hate o:i ArT:, . Bailer Inspt. 1.50 J, DeRome 1.47.50
Botirers and 1Jood. I~Telding 2Lt3.19 C. 1`IcNei]. ]17.50
H. Brotar L).00 V, Romines ]1(7,50
Bragg A1ito 2.85 R, Riddi_clc 135.00
Barnett Auto Supply 12.00 J. Fo:c 135.00
II, Besett 35.4.5 R, Simmons 135.00
(~
Bodyguard i`:1g. Co. ]_]_5.!.a.`~ P, ,,.?are 125.00
C, B. Alderdice Coal 8.75 H. Brotan 25.00
Choc-l;ati~T, Inc. 20,77 E, Anderson 175.00
Cal-].~ehan °c Co. 25,00 0. Hatton 150.00
Crittenden Coxurty Times 207,l~n L?, Darby 130,00
Chalmers ?'Iotor Co, 1.33 r1, i~Ic.:azl 125.00
It. R, ]Douglas 1x0.00 i'1. P•i. fire Dept. 881.00
Bob Duncan 16.28 ?;, Hightshoe 45.00
Esso Standard Oil 1„093.~~5 B. Busb-a 175.00
Eden Pontiac Co. 1(9.25 T'Irs. U. I•iaffai 1(5.00
A, Heagler 2.000.00 ?fd. Perrino 150.00
G, Ferguson 118.10 J. Ho*.•re11 275,00
C, Garrett 71_(,75 T. Stacy 30.00
T?, Hornell 118,10 ~. Stevens 62,50
J, Kelley 162 , 50 L, TTcCull.ey 62.50
P. Rogers 152.50 I1, P°iasters 62.50
T~f. Kemp 110,00 E, Hale 87.13
Pi, Scales 75.88 J. Harris ,02,25
J. ;-,dilliaans `7.13 J. Dabney 87.13
'J, Harris 92.25 '~. Johnson 87.13
C, Tlose]-y ~~7,13 J, T?cCullar 87 ~ 13
B, Posley
E
D
b 87.7. _i T. T~osely
5.4
5
.
aaxs
erry 87.7..3 G. Hopkins 1
7. 3
~ ~_~ .~
A r %4 r
G',Als~ltr rUr~rri _ (,n1i1•.
i'IP3T,I(' II`I'IJ Tl ~ B'~iiD r,nPL"'Ir'UCTIQIi Pi.>TID
Tee
1~a7.1-
3
13
?
r P~:1, irtil.ity Comm.
~'
'
R Gu .
~
~l?' hoctaYr. Inc. 13,G~s? 0!;
bl. Hil1 K~
0?
~ '+ r:. Header 2.210, rc.
R. Coles ~
13
}!7 JOI"~th rT~~.ll'C. i (~On`it. ~~. C.~-:'.~?
~T, F'ulla_n~.m .
87
13 ?~To.~^th J~2aes Const• 18.812.22
P. Anderson .
11
b9 [Io.r'th James Const. 2
3. >'j0.lre
P?i a. 1J. Goss .
,,
00 A . i~. Iiea.~l.er•
~
"
9b1. _!,3
. i. rl. Hea~l.er X35, ~,9
A. ~~. fiea~l.er 981..',3
;T'~'F,F'T Tril;Rr;- r F? ,Y
J i ~"I. T TJ' ~. IIea~ler 53r 69
Director Internal Rev. )
30.5( PIf~ls'P-?1~t1~S F'I~1.)It?I~I ?,: }Z'~;?,LF
>)all Truc}:inr* Co.
u
b 50.00 I~11Y~i.t t'ns' by
P
('~0
~175
acus ?a
r.
Director Inter..n~_il_ ftev. v, 13
25 80 T. H. P~IcGoug]Y .
50.00
Arlr. State Treasurer ?22.71Y
C. 'Gabor
P'?
I. e 118.10
PROF~~'R`PY CQIdST~4Ul7TION FI1t~11)
.
mp 8 5.50
H. Ftushinn.,
li
Arno1
d 72.68 Bal]. Trucl_inS ;~11?
0
00
.
_
i~7. Hares l . c53
7
Ban!: of G7est ITenrphi-s ..
.
139, 567.11.0
r'. Hudson 76.95
PI. 6ai1.1ianYS
C
Bluxxt 62x.13 5 I-rT1,L A7] vALORis'ri `T'AX
. 72. _~~
S. Gibson
T
ia
y 72.68
~ SeY,rer I?evenue Bond Fund
,;;~1.. OOl). 00
.
i'~rxnin~ Lweber r
" ~'8
~ ~; 38 Union F'_lanters P:
'at:ion~l. Ban'r ~
7; .00
"'~ai~,ph s Stone °c. Crravel 50.00
J. ?,. "~tontgomerzr 21!15.37
'lallin Diclcev ?'c R_i.ch 117,31
Fall Truc7cin7 Co. (110.00
C. Tabor 11.8.10
fI. Ruehi.nC; 87.73
~''. Arnol~3. 87.55
1. Hays 7'j . ?_ 5
~. Hudson y~,70
ra. '~il.l.iams 77.25
~. Blunt 8'j.55
. i=ibson 8'j,~ r,
~i~P]R IZEsITIIIIJIs BOtt~)
Serr~r Pevenue 1,Oc)O.pr~
Director. Internal Rev. q,(;0
1.7i.rector Internal Fev. ~, r~;0
~~rl-. 5t.ate Treasurer 11;,!Cn
upon vote, the A1d.ermen .*~~ted:
11~re: Bledsoe, Bol_l.i.n~er Laden, Pa.nley, Poster, i'anchester. Fo;rers, a.rn~t R.av
Wray. tTone.
Lio :further business cominrl before the roYUxc:i_l, motion x~ras r~~ade by klr~}erman Bledsoe
an J secon~erl bT* zllderYYrn I,~inley, to ad.ourn; anon. vote. the nl_~Iermen voted:
Ave: nledsoe. Bollinae. '.den., hin_ley. foster. I?anc]Yester ~~o>a„s. and 2a~r.
I1ar; }lone,
I' 1~.YGi t.
i
E'C`U 51 .~ ~' _'~ ~~G m~a[~~.e
API'itOVLD: 1,-;IIz;~t?`uy 1.5. 1gr;r