HomeMy WebLinkAboutOrdinance 509 rim
ORDINANCE NO . �~Q
AN ORDINANCE TO BE ENTITLED " AN ORDINANCE APPROPRIATING THE
SUM OF $3000 . 00 OUT OF THE GENERAL REVENUE OF THE CITY OF PAYETTE-
VILLE , ARKANSAS TO COVER THE COST OF MAKING PERMANENT IMPROVEMENT
OF THE INTERSECTION OF CERTAIN STREETS , AND OTHER IMPROVEMENTS
WITHIN THE CITY OF FAYETTEVILLEgARKANSAStAND FOR OTHER PURPOSES . "
WHEREAS , the City Council of the City of Fayetteville , Arkan-
sas , did , on the 18th day of February , 1924 pass the following Or-
dinanoe , to-wit :
ORDINANCE N0 . 499 .
AN ORDINANCE TO BE ENTITLED " AN ORDINANCE TO PROVIDE FOR THE
PERMANENT IMPROVEMENT OF THE INTERSECTION OF CERTAIN STREETS WITHIN
THE CITY OF FAYETTEVILLE; ARKANSAS , AND FOR OTHER PURPOSES . "
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WHEREAS , there has been formed and created with/the corporate
limits of the City of Fayetteville , Arkans8 "� , a certain Improvement
District , known as Annex Number One to Mont Nord Improvement District
Number One of the City of Fayetteville , Arkansas .
WHEREAS , it is the policy of the City of Fayetteville to aid in
construction and maintaining permanent streets , constructed under
the Improvement District plan ; and
WHEREAS , the City of Fayetteville has assumed part of the ex-
pense of improving streets in other improvement districts ;
NOW , THEREFORE , BE IT ORDAINED BY THE CITY COUNCIL_ OF THE CITY
OF FAYETTEVILLE ARKANSAS :
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SECTION ONE : That there � is hereby appropriated out of the
General Fund of the City of Fayetteville , Arkansas , the sum of Three
Thousand ( $3000 . 00 ) Dollars to be used by the Board of Commissioners
of Annex Number One to Mont Nord Improvement District Number One
MiCROFIUAM
DATE OCT 4 >�
REEL
' -AVON
of ithe City of Fayetteville , Arkansas , in premantly paving the
intersections of all streets within said Improvement District , and
otherwise permanently improving the same .
SECTION TWO ; That the City Ulerk of the City of Fayetteville ,
Arkansas , be , and he is hereby instructed to drgw five warrants
of equal amounts , in favor of whomsoever said Board of Oommissioners
may designate , and at such times as said Board may request , not to
exceed in the aggregate , however , the sum of Three Thousand ( $3000 . 00 )
Dollars . Said five warrants shall be drawn serially , so that one
warrant shall become due and payable each year after date of issue .
SECTION THREE : That this Ordinance shall take 'effect and be in
.a
force from and after its passage , approval and publication.
Passed and approved this 18th day of February , 1924 .
Attest : C . F . Armistead . Approved : Allan Wilson.
THEREFORE , BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
FAME TTEV ILLE , A�RBANSAS.:
SECTION ONE : That pursuant to said Ordinance and agreement
contained theAn the Mayor and the City Cdark '. bf the Oity of Fayette -
ville , Arkansas , are directed to issue warrants payable to bearer and
deliver baid warrants to the order of the Commissioners of Annex Number
One to font Nord Improvement District Number One of the City of Fay-
etteville , Arkansas , for the purpose _ aforesaid of paying for the im-
provement of the intersection of certain streets and other improvement
within Annex Number One to Mont Nord Improvement District Number One
of the - City of Fayetteville , Arkansas ; said warrants to be issued and
made payable as follows :
One Warrant for the sum of W600 . 00 payable July the first , 1924 ,
and one -fourth of the balance to be paid in annual instalments J7A--
the first day of each July thereafter for four years .
In case of default in the payment of any annual instalment of
the contract herein at maturity , then , in that event , such defaulted
instalments shall draw interest at the rate of 8ya per annum from matur
vies
ity until paid , as a penalty for f ailure to pay said instalment
when due .
SECTION TWO : That all Ordinances in conflict herewith are
hereby repealed and this Ordinance shall be in force and take
effect from and after its passage , approval and publication .
Passed and approved this 7 day of April, 1924
Approved : ( �. Mayor
Attest : % lerk.
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