0619 RESOLUTION NO . / /3
CONSIDERATION OF
ACT NINE (9 ) BOND ISSUES
WHEREAS , the Act Nine ( 9) Bond Issue is a stimulus to
the economy of West Memphis , Arkansas ; and ,
WHEREAS , certain action is necessary by the City Council
before an Act Nine ( 9 ) Bond Issue is approved ; and,
WHEREAS , there are considerable problems involved which
should be discussed prior to the enactment of an Ordinance .
THEREFORE , BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WEST MEMPHIS , ARKANSAS , that on all Act Nine (9 ) Bond
Issues , special meetings of the City Council shall be called
to discuss the following 41 rr19 S G` Z•# ex r 4/4s'
7'/,/Z Gir-y covr►. c./L /o- y Di4ict-
1. Payment of money in lieu of taxes ;
2 . Whether to let the contract on a negotiated basis
or a bid basis .
3 . To determine whether a bond has been made to protect
the City of West Memphis from labor and mechanics
liens ;
4 . To determine whether bidding of the bonds is in
the best interest of the City of West Memphis ,
Arkansas ;
5 . To determine whether Arkansas contractors and sub-
contractors have been considered as to the preference
allowed by statutory law.
PASSED AND APPROVED this / 9 day of
/1P ,4 2 y , 1978 .
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MAYOR
ATTEST:
CITY CLERK