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June 6, 1960~~~ MINUTES OF AN ADJOURNED MEETING CF THE CITY COUNCIL uF THE CITY OF WEST MEMPHIS, ARI:ANSAS, HELD AT 1'HE CITY HALL IN SAID CITY GN THE 6TH IY\Y CF JUNE, 1960, AT 5:00 P, M, __ -._- - __._, On the 6th day of June, 1960, the Council of the City of i9est Memphis, Arkansas, met 1 j in the City Hall in said City in an adjourned session, The meeting was celled to order at f li 5:00 P, 4i, by the Jiaycr, and on the roll call the following members of the Council :vere j ! found to be f present: Aldermen: C. H, i2owton, Y. G. Sims, O. I, Bollinger, R. C. Bowie, °ob Eden, R. H. Ray, Jr „ L. E, Roleson, and City Attorney W, H, Dillahunty, Absent: None. It being determined a quorum was present, the following proceedings were had to-wit: Mayor Price informed the Council the meeting was called for the purpose of reading an ordinance prepared by City Attorney Dillahunty to correct a typographical error in Ordinance No, 387 whereby the figures for the estimated cost of construction and equipment of a city jail of $58,300, and the purchase of fire fighting apparatus and equipment at an estimated cost of $93,900 were transposed, The City Attorney advised the Council the error will not delay the election on the question of the issuance of bonds under the provisions of Amendment No. 13 to the Constitution of the State of Arkansas on June 14th nor the proposed sale of bonds on June 16th, Alderman Bollinger introduced the ordinance entitled "An C',rdinance To Repeal Ordinance IQo. 387 And Tc Amend Ordinance No. 382, Which Zs Entitled: An Ordinance Calling An Election In The City Gf West Memphis For The Purpose Cf Submitting To The Electors Cf Said City The Question C.f The Issuance Of Bonds Under The Provisions Of Amendment No, 13 To The Constitution Cf 'The State CF Arkansas For Several Puraoses; And Declaria~n Emergency" which was read in full by Alderman Rowton. Alderman Sims then moved that the rule requiring the reading in full of an ordinance on three different days be dispensed with, The motion was seconded by Alderman Bowie, and on the roll being called the voting was as follows: Ayes: Aldermen: Rowton, Sims, Bollinger, Bowie, Eden, Ray, and Roleson, Nays: None, The Mayor declared that more than two-thirds of the members composing the Council had voted in favor of the motion to suspend the rule and that it was carried. Aldermen Eden then moved that the ordinance as read be adopted. This motion was duly seconded by Alderman Ray, and on the roll being called the voting was as follows: Ayes: Aldermen: Rowton, Sims, -ollinger, -owie, Eden, Ray, a.nd Roleson. Nays: None, The Nlayor declared that the ordinance had been adopted, and then called attention to the fact that Section 4, the emergency section, must be adopted upon a separate roll call in order to be effective. Alderman Ray then read Section 4 again, Alderman Roleson moved that Section 4 be adopted, This motion was duly seconded by Alderman Bollinger, and on roll call the following voted: Ayes: Aldermen: Rowton, Sims, Bollinger, Bowie, Eden, Ray, and Roleson. Nays: None, The Mayor then declared that the ordinance and the emergency section had been duly passed, and thereupon he signed the ordinance in open Council meeting, his signature was attested by the City Clerk under the seal of the City. GRDINANCE NO, 388 AN ORDINANCE TC REPEAL ORDINANCE NO. 387 AND TO i1MEND ORDINANCE NO, 382, WHICH IS ENTITLED: AN ORDINANCE CALLING AN ELECTION IN THE CITY OF iVEST MEbIPHIS FOR THE PURPOSE C~F SUBMITTING TG THE ELECTORS GF SAID CITY THE QUESTION OF THE ISSUANCE OF BI;NAS UNDER THE PROVISIONS OF Ab1ENDh1ENT NO. 13 TC TItE CONSTITUTION OF THE STATE OF ARi{ANSAS FOR SEVERAL PURPOSES; AND DECLARING AN EMERGENCY, WHEREAS, there was some confusion in the allocation of the respective amounts to the different purposes set out in Ordinance No. 387, and it is necessary to repeal that ordinance in order to re-establish the correct purposes as set out in Grdinance No, 382; new, therefore, BE IT ORDAINED by the City Council of the City of West Memphis, Arkansas: SECTION 1. Grdinance No, 387 of the City cf West Memphis, passed and approved hfay 9, 1960, is hereby repealed, SECTION 2, Section 1 of Ordinance No, 382 is hereby amended to read as follows: Section 1, Fl special election is hereby called to be held in said City on the 14th day of June, 1960, for the purpose of voting on the question of issuing bonds under the authority of Amendment No. 13 to the Constitution of the State of Arkansas, for the following purposes; (a) For refunding at the same interest rates they now bear the $187,000 outstanding balance of bonds issued by the City under the nrovisions of Amendment No. 13 and dated December 1, 1954; (b) For the construction and equipment of a city jail, at an estimated cost of E58,300; (c) For the purchase of fire-fighting apparatus and equipment, at an estimated cost of 593,900; and (d) For the purchase of a site for and the construction of housing for fire-fighting apparatus, at an estimted cost of 570,800, If all of the purposes are anproved, the bonds will be combined into one issue of refunding and improvement bonds dated as of June 1, 1960, and maturing cn July 1 of each year as follows: 511,000 in 1963 12,000 in 1964, 1 M~5 and 1966 13,1)00 in 1967 14,000 in 1968, 1969 and 1970 15,000 in 1971 and 1972 16,000 in 1973, 1974 and 1975 18,000 in 1970 19,000 in 1977 20,000 in 1978 21,000 in 1979 22,000 in 1980 23,000 in 1981 25,000 in 1982 26,000 in 1983 27,000 in 1984 29,000 in 1985 The new improvement bonds will bear a rate of interest acceptable to the City Council, and the refunding bends will bear interest at the same rates that the December 1, 1954 bonds bear; the entire issue will be sold with the privilege granted to the buyer to convert the bonds to a lower rate or rates of interest, upon such terms that the City will receive no less and pay no more than it would receive or pay if the bonds were not converted, SECTION 3, All other provisions contained in Ordinance Nc, 382 shall remain in full force and effect except as herein specifically amended, SECTION 4, This ordinance being necessary for the safety and welfare of the inhabitants of the City cf West Diemphis, an emergency is declared to exist and this ordinance shall be in full force and effect after its passage. **w~a~ Mayor Yrice informed the Council there was no further business to come before the meeting at this time, however, it would be necessary to held-over the meeting subject to call, :~ ATTE CITY CLE ° MAYOR APPROVED: