March 1, 1956I~~SJT"~.,S OF r'. 3GU'1AR 1~.'.TL:G OF TF)/ CITY COUi;CII: O1~ i'H. C1'Y Oi Ir:ST i•.~.ri~S,
__ _ L't ;~t_SAS, L;D ST?I may,- Oi ~C3 ' ~ o7c
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The Council of the City of ~•zst Itemphis met in a regular session at the City Ha11
in said City at ,:CO ', .., or. the 1st day of ?March, 195.
The meeting oral calbd to order b~- the i•iayor, and upon roll tali there mere:
Fresert: 'rayor Y.. u, 'rice presiding and the following aldermen:
James Bledsoe, C, I, Bollinger, B J. David, Bob Widen,
J L, Rimes, F. 3, Fo4rers, ~. H. ay, Jr, ant:. '. :~. Rcleson;
City Attorne;* Atlee Harris and City Clerl: ~. L. Sires.
.absent: Nene.
It being determined a quorum :ras present, the following proceedings were had to-t-rit:
i4inutes of Council A;eeting on Februax^,~ 15, 195E were read and there being no
corrections cr alterations the,* mere apr_roved as read.
Iiayor Frice informed the Council the extension of the water and snorer systems as now
conterrolated and nlanzed aroull necessitate issuing additional revenue bends _, and
i2•. Dallas F, 3ane~r of T. J 'eney E. Sons oaas present to discuss the matter with the
Crnu:cil. :_, 'aney presented the fcllo*.ring Proposal:
Honorable i•:ayor and City Council
City of ;Nest Memphis
[lest Memphis, _lr'::ansas
Gentlemen:
'_hze to the tremendous grot-rth of y*eou• cit~r it appears necessary that you enlarge and
extend your preser_t water and setter system.
Your ;•rater. se:aer and zlectric revenue bonds now outstanding are inter-related and
cross pledged resulting in ~rour having outstanding, first, second and third lien bonds.
We have made a study of your 1~5C audits of the grater, sewer and electric systems and
are of the otiinion you can issue up to ~SOO.000 Fvblic IItilit~~ bonds payable from
your Crater and sewer revenues and a pledge of you?• electric revenue if needed, Based
on ~~our present water and seorer net revenue, you t+ri 11 have sufficient money from these
taro systems to retire all of your water and seorer indebtedness.
N1e can be of service in helping Srou prepare your issue, find a buyer and arrange for
the sale and delivery of the bonds. Therefore, xe submit for your consideration the
following proposal:
1. lde ;gill cooperate T.+rith the cite officials in calculating and determining the
proper schedu~ o£ maturities ant. redemption provisions for the proposed bonds,
and all other details relative to the security provisions and financial aspects
of the issues.
2, ?n;e will employ a recognized municipal bor.^. coursel to prepare the necessary
ordinances and/or resolutions, and trill pay for the approving opinion of such
couneel.
3. The bonds will be callable atr_ar until lay 1, 199 in inverse numerical order,
from surplus Fublic Utility revenue collections, They are also callable on or
after Pa3- 1, 1959 at par and accrued interest from funds derived from azy source,
1t. We agree to use our best efforts to secure for you a buyer who trill pay you
one hundred cents on the dollar and accrued interest for bonds bearing an
interest rate of 3 1/?jb at your public sale, and in consideration of our secur-
ing for you this buyer you are to pay us all of the premium you receive for these
bonds up to 3~ of the face value o£ the authorized issue before conversion. Out
of this commission tre agree to pay all the expenses n£ the printing, trusteeing,
and approving opinion, subject to our receiving the uncualified approving opinion
o£ Messrs. Townsend & Townsend, Little Roch, Arkansas, as to the legality of the
bonds.
r. L for any reason you do not issue bonds of either description, you will not be
obligated to us for services rendered,
Respectfully yours,
T. J, FAP)vY & SO.T1S
3°: /v/ ~ALL.zS F. 2[iiT'Y
DPR:rs
=CCEF ~D this the day of 195E
City of 'v7est Iiemph~ s, Ar'.~,ansas
B's __ ?ayor
City Clerl:
~'°
.'after discussion. motion wzs made by Alderman David an:l seconded by Alderman Roleson:
That the Iiayor and City Clerlc be and they are hereby authorized to accept and execute
proposal of T, J. Raney & Sons of Little Rock. Arkansas, as presented. Upon vote, the ~!;
voting was as follotirs:
Yeas: Aldermer_: Bledsoe, Bollinger, David. ';den, Himes, Powers, Ray. Roleson. e'
fI
Alays: None.
P•'r. R. S, Carney o£ Oliver F, Cobb & Company presented. the 1955 Audits of the
City of West A°emphis, After discussion, the audits were accepted as presented and filed,
A:ayor Price informed the Council the County Court of Crittenden County has issued
an Order for Annexation of Territory to the City of West 1?emnhis on February 20, 195`.
and an ordinance entitled "An Ordinance Incorporating A Part Of The Northwest ~"quarter Of
The Southwest Chiarter 0£ Section Twelve, Township Six North. Range Eight East, Crittenden
County, Arkansas, Being The Lands Lying South Of Barton Avenue, East Cf Rich Road. West
Of Lehr Street And idorth Of 3oosevelt Avenue E:ctended" was read by City Attorne]*
Atless Harris. ?<_otion t-ras made by Alderman Ray and seconded by-alderman Bollinger: That
the first reading of the ordinance be approved. Upon vote, the voting was as follotrs:
Yeas: Aldermen: Bledsoe, Bollinger, David, Eden, :mimes, Powers, Ray. and Roleson.
Nays: None.
A plat of Bloclc 1, Lehr Addition to Tr7est ?Memphis, i~rkansas, the area annexed by
County Court Order of February 20, 1956, was presented to the Council, said plat having
been recommended for approval by the Planning Commission on February 9, 19>"'. Thereupon.
motion was made by Alderman Powers and seconded by Alderman Eden: That Plat of flock 1,
Lehr Addition to 47est A:emphis, Arkansas, be approved. Upon vote, the voting was as follows:
Yeas: Aldermen: Bledsoe, Bollinger, David. Eden, Himes, Powers, Ray, and Roleson.
Nays: None.
Alayor Price informed the Council the Parl: Commissior. had recommended four tennis courts
be constructed. two at Worthington Park and two at the park area >n Alemphis View Subdivision.
Also, the costs for materials and finishing of concrete courts to meet tournament specifica-
tions would cost 5;1650.00 each. The proposed locaticros for the courts in regard to number of players
in the areas were discussed, and motion made by Alderman Bollinger and seconded by Alderman Ray:
That two tennis cocahs be constructed at Worthington Park and one tennis court at 'r~mphis View
Subdivision. Upon vote, the voting oras as follovrs:
Yeas: Aldermen Bledsoe, Bollinger, David, Eden, Himes, Poitiers, Ray, and Roleson.
:lays: None.
Piayor Price requested authorization o£ the Council of a transfer of s;6,S~5,00 from the City
Property Construction Fund to Utility Fund for final payment on the :lest P:empiLis Utility Commission
Building. 2dotion was made by Alderman Bledsoe and seconded by Alderman Roleson: That r;5,&55
be transferred from City Property Construction Fund to Utility* Fund. Upor. vote, the voting iras
as follows:
Yeas: Aldermen: Bledsoe, Bollinger, David, Eden, Himes, Poitiers, Ray, and Roleson.
Nays: None.
Statement of A, E, Heagler, Consulting Engineer, in the amount of 1,bC.00 for partial
payment on balance due for Sanitary Sevrer Construction in City of Flest Memphis was presented.
Motion was made by Alderman 3ollinger and seconded by Alderman Ray: That statement o£
A, ,;, Heagler be approved, and check be issued for payment thereof. Upon vote, the voting was
as follows:
Yeas: Alderren: Bledsoe, Bollinger, David, Eden, Himes. Powers, Ray, and 1Zoleson.
Kars: Alone,
The Council was informed that the West T.empls Utility Commission had stated it would
be necessary to renew the two notes in amount of '.^[,000 each to The Sank of West P4emphis and
the P4erchants Fa Planters Sank as authorized by Resolution adopted. on i;ovember 2!. 1955, and
the fe'_lozring resolution authorizing said renerral•aas presented:
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RESOLUTION AUTIIORI"vL'VG THE REAJEFIAL OIL'
CERTATi' DiOTES
'.~f~REAS, the City of West 2iemphis, e~rkansas, acting by and through its
City Council meeting in a special session on November 2b, 1955. authorized. the
temporary borrotring of k50,000, to be represented by two renewal revenue promissory
notes of w25.000 each, due 90 and 120 days after date thereof, for the purpose o£
ma',=ng improvements and betterments to the West :~7emphis municipal waterworks system;
and
S.~REAS, the I4ayor and City Clerk. proceeding under the authority of said action,
did execute one note in the sum e£ X25,000, dated ovember 26, 19$5, due on or before
90 days after date, in favor of The Bank of West I:emphis, i~7est rlemphis, Arkansas, and
another note in the amount of 'x25,000, dated December 8 1S55, due on or before 120
Says after Sate, in favor of the 15erchants & Flanters Bank o£ hest Iemphis, Arkansas.
brth notes payable at maturity t,~ th interest at the rate of a;~ per annum; and
WIT.EREAS, it is to the best interest o£ the Cit~* to none*.•r sai8_ notes for 90 and
120 days, respectively; now, therefore,
BE IT F.ESOLVED by the City Council o£ the. City of West Iemphis, Arkansas:
SECTION 1. That the City shall, acting by and through its L'ayor and City Clerk,
renetr the present :;25,000 note in favor o£ The Bank of West i-?emphis for a period of
90 days from and after the date o£ renewal, and shall renetr the ;}25,000 note in favor
of the I•Ierchants ~ Flanters Ban'- far a neri od o£ 120 days after the date of renewal,
interest on both notes to be payable at maturity at the rate of 11~ per annum, with the
privilege on the part of the City of calling either note for payment, either ir, whole
er in part, at any time prior to maturity.
SECTIOPI 2. For the payment of these notes and the interest thereon, the City
hereby pledges the surplus revenue derived from the ope_ratien o£ its waterworks system
under the terms of Ordinance No. 121 and Resohtion No. 181, passed and approved
1<iay 28, 191:6, and I1ay 2, 1950, respectively, and as additional. security for the
payment of the notes the City hereby pledges out of the net revenue derived from, the
operation of its electric light and potrer system such amounts; i£ any, that may be
needed to prevent a default in said notes.
SECTION 3. It is hereby ascertained and determined that the rapid expansion o£
the City o£ West i^emphis and the construction of residences in new additions to the
City have created an emergency; and this resolution, being necessary for the
preservation of the public peace, health and safety, shall take effect and. be in force
from and after its adoption.
.aderman Bledsoe they, move' that the rule requiring the reading' in full of a
resolution on three different days be dispensed frith. The motion r~~ seconded by
Alderman Eden, ar.:? -„ tnc roll being called the voting was as fol'_eras:
Aldermen:
Yeas: Dledsoe, Bollinger, David, Eden, Rimes, Fotrers, may. and Rolason.
Nays: None
The mayor declared that more than. two-thirds o£ the members composing the
Council had voted in favor o£ the motion to susrend the rule and that it was
carried. Alderman 3ollinger then moved that the resolutions read. bE adopted.
This motion was dul~~ seconded by Alderman. ')avid, and. on the roll beir~ called the
voting was as fellotas:
Yeas: Aldermen: Bledsoe, Bollinger. David, Eden, Rimes. Fotaers. gay, and ncleson.
Dlays: None.
The *iayor declared that the resolution had been adopted, and then called attention
tc the _"act that Section 3, the emergerc~• section, must be adopted upon a separate roll
call in order to be effective.
Alderman Ray then read Section j again. Alderman Towers moved that Section ~ be
adopted. This motion was duly seconded by Alderman Roleson, and on roll cal~_ the
follot•rin voted:
Y"eas: Lldermen: Bledsoe, Bollinger, David, aden, Himes, °otrers, say, and Foleson.
'.lays, none.
The i:ayor then declared that the resolution and the emergenc~* section had beer.
dul-r passed, and thereupon he signed the resolution in open Council meeting, his
signature was attested by the City Clerb: under the seal o£ the City.
Flayor 'rice announced a method or plan had been found whereby the City cculd participate
financially in the Street Improvement Districts. however, he would like to have the opinion of
the Council on the matter. ~ resolutior. was prepared and read as follotas:
? ES Ci,L'TIOD?
`rIHER.EAS, the improvement of the streets of the City b~~ draininC and pavir_g them through
the organization of street improvement districts will relieve the City of the cost of the
improvement and trill greatly reduce the cost of maintenance of the streets so i:proved; and
WfIER.EAS, the improved streets will afford safe and rapid passage for ambulances and fire-
fighting equipment and thus give greater protection to the lives and property of the ;nhabitants
of the City; and
WFL~'REAS, the City otms and operates a municipal electric light and power system from which
it derives a substantial net revenue which it may use for municipal purposes; now, therefore.
BE IT P.ESCLVED by the City Council of the City of West i~:emphis, :-^sl:ansas:
SECTICIu 1. That it is herelr,,r declared to be the policy of the Cit;- Council to encourage
and assist in the organization of street improvement districts in- paying part of the cost
thereof, for and in corn ideration of the substantial savings 'the City tril'_. realize from their
Formation and the considerable public benefit the inhabitants of the City rri11 enjoy because
cf the increased protection the improved streets trill give.
SECTICPd 2. That the City Council hereby pledges the City to pay solely from the net
revenues derived from the operation of its municipal electric light and petrer system each
year one third of that yrear~s principal and interest requirements of the bonds to be issued
by Curb and Gutter.Improvement District Ido. 1 and Street Improvement District No. 1, both
of this City and now being organized, and also to ma'.ce like pa5nrents for any street improvement
3istricts that may be later formed in the City.
SECTION 3. This resolution shall be in full force and effect from and after its passage.
On motion made by Alderman Roleson and seconded by Alderman Eder. that the resolution be
adopted, the voting tras as follows upon roll call vote:
Yeas: Aldermen: B7.edsoe, Bollinger, David, Sden, Himes, Fowers. Ray, and Roleson.
Mays: None.
City Attorney Atlee Harris stated to the Council Dlrs. r, E. Denson had requested the
name of Eisenhower Street be renamed Denson Street as memorial to her late husband. E. Denson.
Thereupon, motion was made by Alderman David and seconded by F.lderman Himes: That the City
Engineer be authorized to remove the name of Eisenhower from street map in the Cooper Subdivision
and. designate the street hereafter as Denson Street. Upon vote, the voting was as follows:
Yeas: Aldermen: Bledsoe, Bollinger, David, Eden. Himes, Powers; Ray, and Roleson.
Nays: Plone.
3eport of Building Inspector for applications and permits from Februar~~ 1st to Iiarch 1st
was read:
C. B. Senhausen
Odis Ball
E. L. Pitts
L. George
J. Dlathews
D. Phelps
.. Rainey
Diary Erne
E. Johnson
YTarden L. P. Gas
West View Realty* - 12
H. Die cy
C. `rJatson
:. Baretti
J. Johnson
Home Builders Supply - 2
47allin, Dic':ey E Rich
P, Iercer
J. .".oore
Associated Realty - 711
After discussion, motion was made by Alderman Potrers end seconded by Alderman David that the
action of Building Inspector Perrino be approved. Upon vote, the voting .•ras as follows:
Yeas: Aldermen: Bledsoe, Bellinger. David. Eden, Himes, Potaers, Ray, and Roleson
Nays: None.
P`r. Bob Choaming of the Flest Iiemphis Daily Sun was present and reeuested action
on his preposzl submitted to the Council on January 19, 1956. After discussion,
Alderman Ray recommended the ISayor appoint a committee to meet with representatives
of the 4lest Nemphis Daily Sun and Crittenden County Times on the matter. Thereupon;
lizyor Price appointed a committee of R. H. Ray, Jr., Beb :'den, and B. J. David to
confer vrith representatives of the two local papers.
Ido further business appearing before the Council, motion was made by
Alderman Bledsoe and seconded by :.lderman Ra~~ to zd~,ourn. Upon vote, the voting
was as follows:
Yeas; Aldermen: Bledsoe, BolLnger. David, Bden, Nimes, Powers. Rai*, and Roleson.
I?a;~s : 23ene ,
C`-~?Z~~ ~ oI
.fi'1Y~t
:.TTEST:--~-s~G=~.
CITY Cy:$i'
APPRO~l;',D: II^RCFI 15, 1956