HomeMy WebLinkAbout1930-06-23 Minutes511
REGULAR ME?TING OF THE CITY COUNCIL OF THE CITY
OF FAYETTEVILLE, ARKANSAS,HELD JUNE 23,1930,
(PRESENT: The Mayor T.S.Tribble, Clerk J.C.Massie, Attorney V.James Ptak,Engineer E.M.Ratliff;
' I 'Aldermen John Bynum,,Don Fuller, C.T.Harding, Clem Pearson, Roy,Scott, J.F.Stanford,SS Stephe
IR.E.Wages.
THE MINUTrS OF THE meeting of June 16,1930 were read and approved,
THE FOLLIWING BILLS against the City,properly approved,were allowed and ordered paid and the Clerk was
directed to issue warrants for the same on motion by Alderman Harding,seconded by Alderman
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Bynum, passed by the Unanimous vote If the Council and so declared by the Mayor; -
1John Zillah 5$2.50;Ben Porter $$18,75; Neal McKinnon 5$15.00;Fayetteville Lumber & Cement Co.,
$9.00;Marion Gray $3.00; J.W.Shelly 5$42,50;and $5.75; Goss -Rogers Electric Co.fS$21.15;
Washington Transfer Co., %2.50;Creseent Drug Co., 5$19.00,
SHELLY: The Street Cleaner reported 170 blocks cleaned during the week.Report ordered filed.
MONUMENT A protest against the operation of the Fayetteville Monument Company's plant at the
WORKS:
,corner of Maple and Olive was presented,and after discusion,Alderman Bynum moved that the
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(petition (if any) be denied.This motion was duly seconded and passed by the unanimous vote of,
the Council. I
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Aviation Aldarman Harding introduced an ordinance PROVIDING FOR THE LEVY OF ONE MILL TAX,
Bonds;
LEVY:* to pay the principal and interest of the $$20,000.00 bond issue for the purpose of purchasing;
developing.and improving land for a flying field,whivh was read the First time.
(Alderman Pearson moved that the Rules be suspended and the ordinance placed on its second
ireading.This motion was seconded by A1dRrman Scott and received the following vote; ayes
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Aldermen Bynum, Fuller, Harding, Pearsoa, Scott, Stanford, Stephens, Wages; nays none, and
The Ordinance was read the second time.
was declared passed by the IvIayor� Alderman Pearson then moved that the Rules be further sus-
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pended and the ordinance placed on its third reading and final passage; This motion was
seconded by Ald erman Bynum and received the following vote; ayes Aldermen Bynum, Fuller,
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'Harding, Peanson, Scott, Stanford, Stephens, Wages; nays none, and was declared passed by the
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WHEREAS,
IIIHERFAS,
Mayor,
The
Ordinance
was read
the third
time.
The
Mayor then
announced the question before
t
Council
is
shall the
Ordinance
pass, and
called
for
the vote
on its passage,which resulted
as
follows; Ayes Aldermen Bynum, Fuller, Harding, Pearson, Scott, Stanford, Stephens, Wages; nays
none; absent and not voting none. The Mayor declared the Ordinance passed. A copy is as
ollows;-
;,::::;,;:::UHll1NANGE NUMtiB:H '7,'L7, I
Taxable
AN ORDINANCE TO BE ENTITLED " AN ORDINANCE LEVYING A TAX ON THE REAL AND PERSONAL
ROPERTY in the city OF FAYETTEVILL0 ARKANSAS TO PAY THE PRINCIPAL AND INTEREST,AS SAME
ATURES,OF A CERTAIN BOND ISSUE IN THE SUP.? OF 620,000.00,ISSUED FOR THE PURPOSE OF PURCHASING,
EVELOPING AND IMPROVING LANDS FOR A FLYING FIELD.°
Phe City Council of the City of Fayetteville,Arkansas,by its certain ordinance number 723,
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aassed.._and aproAd on the 7th day of April,1930,called a special election to be held at the
.isual polling places in the several wards of said city,on the 20th day of May 1930, for the
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purpose of determining whether or not the City of Fayetteville should issue $20,000.00 in
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negotiable bonds,bearing interest at the rate of Six per centum per annum,payable semi-annuel
Ly,from date until paid, for the purpose of purchasing,developing and improving lands for a
Flying field,and
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Mayor of said City,did, on the 8th day of April 1930,issue a notice and proclamation for t h I
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holding of said election for said purpose,on said 20th dqy of May 1930,a.t the usual polling
places in the severdl wards of said city,and
WHEREAS, i
SAID ordinance No.723 was duly published in the Fayetteville Daily Leader on the 8th day of
May 1930,and
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(WHEREAS,
said election notice was duly published in said Fayetteville Daily Leader,for four times, the,
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last publication of said notice being more than ten days before the holding of said election,,
land
512
SECTION
SECTION
RESOLUTI
DN BOND
ISSUE:
�O-
rr
Form of
BOND:
(Said Fayetteville Daily Leader is a nwWspaper published in said City of Fayetteville,Arkansa
and having a bona fide circulation therein,and
A.
said election was so held on said 20th day of May 1930, at the usual voting places in the se
wards of said city,and
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said election 271 votes were cast in favor of said bond issue,and 107 votes were cast
said bond issue,said bond issue carried at said election,and
the city Council has found and determined and does herein find and determine that a tax levy
of one mill on the dollar of the real and personal taxable property in said city is both
cessary and sufficient to pay offand retire the principal and interest of said bonds sa
ral I
t
ey mature,
NOW,THEREFORE,BE
IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE,ARKANSAS:
A tax levy of One Mill on the Dollar is hereby levied on the real and personal taxable
roperty within said City of Fayetteville,Arkansas,for each of the ,years 1930 and 1940,both
lusive, and until said bonds and interest is fully paid. Said levy to be for the sole
e of paying the principal and interest on the bond issue aforesaid, as they and each
become due and payable.
All ordinances and parts of ordinances in conflict herewith are hereby repealed, and this
shall be in full force and effect from and after its passage and approval.
Approved this 23rd day of June,1930; T.S.Tribble, Mayor
ttest, J.C.Massie, Clerk.
Alderman Scott introduced a resolution providing for the issuance of bonds in the
of $20,000.00,and moved its adoption. Alderman Harding seconded the motion to adopt,whi
ved the following vote;ayes Aldermen Bynum, Fuller, Harding, Pearson, Scott, Stanford,
Tke '(Y10� o -t
ens, Wages; nays nose, and was )N
jAassed and the resolution adopted. A copy is
s follows
RESOLUTION*
City of Fayetteville,Arkansas has been authorized by vote of the qualified electors of
said City to issue $20,000.00 negotiable bonds,bearing interest at the rate of Six per cen
per annum,payable semi-annually from date until paid,for the purpose of purchasing,develop-
ing and improving lands for a flying field,and is now about to issue said bonds,
NO77,THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF TH7 CITY OF FAYETTFVII,I,v,ARKANSAS,
That said bonds be.made payable to bearer and be issued in the denomination of Five Hundred
llars ($500.00) each,and that the maturities thereof correspond to the schedule of maturities
set out in ordinance No.723 of said City.
BE IT FURTHER RESOLVED that the interest on each of said bonds be represented by c
thereto attached,and thatsaid bonds be signed by the Mayor and City Clerk in th&ir own prope
iting,and that the interest coupons bear the facsimile signatures of said Mayor and Ci
Clerk printed thereon,and that said bonds bear date of August 1st, 1930.
R.A.Scott.
€kith'•=- :
513
Form fofl CITY OF FAYETTEVILLE,
Bond,- Six Per Cent Gold Bond.
KNOW ALL MEN BY THESE PRESENTS:
That the City of Fayetteville,inthe State of Arkansas, for
value received hereby promises to pay to the bearer hereof
FIVE HUNDRED DOLLARS
on the First day of August .....with interest from date until paid at the rate of Six per cen
aper annum,interest payable semi-annually on the First day of February and August in each year
after date,on presentation and surrender of this bond and the interest couponshereto attach-
ed,as they severally become due and payable,both principal and interest be rne City of
Fayetteville,Washington County,Arkansas,in Gold Coin of the United States of A't.merica at the
(present standard of weight and fineness
This bond is one of a series of FORTY aggregating the sum of $20 000.00 and numbered
from One to Forty,both numbers inclusive,each bond being for the sum of .4500.00,which bonds
,mature serially from August 1 1933 to August 1 1941 and are issued in strict compliance with t
ithe Constitution and Laws of the State of Arkansas,relating to the issuance of of Municipal
ibonds for the purpose of purchasing,developing and improving lands for a Flying.Field,and
,this and the other bonds of said series being issued for said purpose.
This bond and the interest coupons attached shall pass by delivery,and shall have al
the incidents and properties of commercial paper, and for the prompt payment of this and the
,other bonds of said series,together with the interest on each,the said City of Fayetteville,
has by its certain ordinance No. 727, duly levied a.special tax of One Mill on the Dollar o
all the real and personal taxable property in said City for the ,years 1930 and 1940,both in -
,elusive, and until said bonds and interest are fully paid. If this bond, or any of the bond
of said series or the interest on any od ofsaid bonds be not paid at maturity then this bon
,and all the other bondsof said series shall at once become due and payable a# the option of
,the holder of said bond or bonds, and this bond shall continue to bear interest at Six per
centum per annum,payable semi-annually, until paid.
j Said City of Fayetteville,Arkansas, has caused this bond to be executed by its Mayor
and City Clerk by their proper signatures subscribed hereon by authority of the City Council
of said City,and by the same authority has caused its interest coupons hereto attached to be
executed by the facsimile signatures of said Mayor and City Clerk being printed thereon,
on this the First day of August, 1930,
THE CITY OF FAYETTEVILLE, ARKANSAS,
By................... . Mayor.
By................... . City Clerk.
The foregoing Form for the bonds was adopted and approved by the City Council, on Moi
by Alderman Harding, seconded by Alderman Scott, passed by the unanimous vote of the members,
of the Council and so declared by the Mayor.
On motion -duly, -passed, -"the -Clerk="was ordened'ao cause trort5� published the
following notice,viz- ".,.�-,e•
NOTICE OF SALE OF BONDS.
NOTICE IS HEREBY GIVEN that the City of Fayetteville. Arkansas, will, on the 16th day
Notice ofof July,1930,at 2 o'clock P.M. of said day, at the SOUTH ENTRANCE OF COURT HOUSE,offer for
(sale the certain bonds of said City in the total sum of $20,000.00.
Bond Said bonds bearing interest at the rate of Six per cent per annum, payable semi-
aanually;are payable to bearer,and are negotiable. The maturities of said bonds being as
Sale;ifollows;-
No further business appearing,the Council adjourned on motion
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Approved: ............... Mayor.
Attest; ...� , City Clerk.
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August
1,1933
$62000.00
August
11 1937
$2,000.00
August
1
1934
22000.00
August
1,1938
2,000.00
August
1,1925
2,000.00
August
1,1939
1,000.00
August
1,1936
11000.00
August
1, 1940
21000.00
Au
ust 1,194M,
2,000.00.
Said
bonds shall be
issued in denominations
of $500.00 each.
Said
sale will be at
public auction,to
the
highest bidder,for cash payment upon
delivery
of said
bonds.
This
June 23, 1930.
CITY OF
FAYETTEVILLE,ARKANSAS,
By T.S.Tribble,
Mayor.
J.C.Massie,
City Clerk.
No further business appearing,the Council adjourned on motion
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Approved: ............... Mayor.
Attest; ...� , City Clerk.
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