HomeMy WebLinkAboutOrdinance 530 ORDINANCE N0 .
AN ORDINANCE TO BE ENTITLED " AN ORDINANCE TO PROVIDE FOR THE PER-
ISANENT I1.EPROV2,7,2NT OF TETE INTERPECT' IO'NS OF CERTAIN STREETS V1ITH-
IN TEE CITY OF FAYETTEVILLE , ARYANSAS . AND FOR OTHER PURPOSES %
WHEREAS , there has been formed and created within the corp-
orate limits in the City of Fayetteville , Arkansas a certain Im-
provement District known as Annex Number One to West Lafayette
Avenue Improvement District Number One of the City of Fayetteville ,
Arkansas !
WHEREAS , it is the policy of the City of Fayetteville , Ark-
ansas to aid in constructing and. maintaining permanent streets con-
structed under the improvement district plan , and ;
WHEREAS , "the City of Fayetteville has assumed part of the ex-
penses of improving streets in other improvement districts .
NOVI , THEREFORE BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF FA.YETTEVILLE , ARIrANSAS ;
Section One : That there is hereby appropriated out of the
general funds of the City of Fayetteville , Arkansas , the sum of
Four Thousand Three Hundred and Fifty ' Dollars ( %647360 . 00 ) to be
used by the Board of Improvement of Annex Number One to West La-
Fayette Avenue Improvement District Dumber One of the City of Fay-
etteville , Arkansas . in permanently paving the intersections of all
streets. within said Improvement District , and otherwise permanently
improving the same .
Section Two : That the Mayor and the City Clerk of the City
of Fayetteville , Arkansas are directed to issue warrants drawn on
the general fund of the City of Fayetteville , Arkansas , payable
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to bearer as follows :
One warrant for the sum of Eight Hundred and Fifty Dollars ,
( W6850 . 00 ) , payable October 1 , 1925 , One warrant for the -sum of
Nine Hundred Dollars , (900 . 00 ) , payable October 1 , 1926 . One
warrant for the sum of Eight Hundred and Fifty Dollars , (850 . 00 ) ,
payable October 1 , 1927 . One warrant for the sum of Iline Hund-
red Dollars ( W900 . 00 ) , payable October 1 , 1928 , and one warrant
for the sum of night Hundred and fifty Dollars , ( y850 . 00 ) , payable
October 1 , 1929 .
To be delivered on the order of the 3oard of Improvement of
said improvement district ,
In case of default in payment of any annual installment of
the contract at maturity , or of the warrants herein directed to
be drawn then , in that event , such defaulted installment shall
draw interest at the rate of Eight per cent per annum from
maturity until paid as a penalty for failure to pay said install -
ment when due .
Section Three : That all ordinances in conflict herewith
are hereby repealed , and this ordinance shall be in force and ef -
fect from and after its passage , approvsl acrid publication .
Passed and approved this 20th day of ^, ctober , 1924 ,
IL
Attest : Approved :
Clerk . I,_ayoor .