HomeMy WebLinkAboutOrdinance 672 ORDINANCE N04 • �
AN 01MIi AiMP TO BE EiITITLED , n AN ORDINANCE CONTR:k (1T T NG ' II ' 'H
THE HALLORAN TRACTOR COMPANY AND THE ARKANSAS ROAD EQIJIPli :NT COhI'ANY TO
FURNTSH A CERTAIN TRACTOR AND STR11j'7T GRAD)-IR .
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FAYET`PYVILIE .
ARKAi1S AS :
S'?CTION ONE : - That the City of Fayetteville , Arkanaas , purchase
of and f' rom the Halloran Tractor Company and the ArkanAas Road Equppment
Company one Type Thirty Tractor and one Russell Super - special Grader , for
the purpose of working and' grading dirt streets within the corporate
limits of . the City of Fayetteville , Arkansas .
SECTION TPJO ; - The City of Fayetteville , Arkansas , by the City
Council of ssid City hereby contracts with thesaid Halloran Tractor
Company and thesaid Arkansas Road Egltipment Company to purchase
from them one Type Thirty Tractor and one Russell Super- special Grader ,
for the rpice hereinafter mentioned , and the said Halloran Tractor
Company and the s aid Arkansas Road Equipment Company hereby agree to
furnish said above mentioned machinery for said price .
The total amount which the said City of Fayetteville agrees
to pay for said machinery is the sum of Six Thousand , Two Hundred and
. Twenty-four Dollars and Forty Cents ( $6224 . 40 ) ,which amount the said
City Council of the sakd City of Fayetteville finds to be a fair and
,just compensation fors aid material andsaid machinery .
SECTION THREE : - The said City of Fayetteville agrees to pay the
said Halloran Tractor Company and thesaid Arkansas Road Equipment
Company the said sum of $6 , 224 . 400to be paid mut of the General
Revenue Fund of said City of Fayetteville , Arkansaa , by warrants made
payable to bearer , and to be paid in the following amounts and on the
following dates , to-wit :
166 year , October 2501928 , 1244 . 88
2d year , October 2501929, 81244 . 88 MICROFILMED
3d year , October 25 , 1930 , . . . . . . Q1244 . 86 DATEOCTa
4th year , October 25 , 1931 , . . . . . . . $1244 . 88 REEL�'L"�._
5th year , October 25 , 1932 , . . . . . . 9 $ 1244 . 88
If the City makes default in the payment of any one of
said sum ,when the same becpmes duiLand payable , the City of
Fayettevillea agrees and stipulates with the owner of the warrant ,
representing the amount of the sum which the City has defaulted in
the payment of , to pay said owner of said warrant the sum of eight
per cent interest per annum on said amount of said warrantpfrom
the date of such default until the said sum is fully paid , as an
agreed and stipulated penalty and as damages for failure on its
part to carry out its contract with she said Halloran Tractor
Company and the said Arkansas Road Equipment Company , or the owner
of laid warrant .
SECTION FOUR : - The City of Fayetteville , Arkansas ,hereby pledges
itself and all of its mfficers , to the faithful performance of this
_ contract as herein set forth in this Ordinance ,upon the full per-
formance of the contract herein set forth, on the part of the said
Halloran Tractor Company and the said Arkansas Road Equipment
Company.
SECTION FIVE : - That Ordinance Number 668 , passed and ap-
proved on the 26th day of September , 1927 , being an Ordinance to
direct and authorize the Mayor and City Clerk to issue four
warrants in payment for the pruchase of a Type Thirty Tractor ,
purchased from the Halloran Tractor Company, in thel total sum of
$4209 . 00 , each w arrant Um for $10052 . 25 , due and payable one , two ,
three , and four years from date ,.be and thesame is hereby repealed ,
and the City Clerk is hereby ordered and directed to properly
cancel said warrants .
SECTION SIX : - This Ordinance shall take effect and be in
force from and after its , passage , approval and publication.
Passed and approved this the 24th day of October , 1927 .
Approved : . . . . . . .
Mayor .
Attest : . . . . . . . . . . . . . . . . . .
Clerk.
