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Home My WebLink About1948-10-18 Minutes00 iyetteville City Council met in a called session, Mondaq,October 18th,1948, at 1-3010' .M.,notice of which had been given, and consented to by all members of the Council,for arpose of approving a contract for the sale of $8n0,n00 City of Fayetteville, Arkansas aterworks RevenGe Bonds• COPY.OF NOTICE FOLLOWS: NOTICE OF SPECIAL MEETING Notice is.hereby given that a special meeting of the City Council of the City of Fayette rkansas,will be held in the City Of Fayetteville, in the.City Administration Building a 1-30 O'Clock, P.M., on the 18th day off October, 1948, for the purpose of approving the sale of $Snn,nnp City of Fayetteville, Arkansas Waterworks.Revefnue% Bonds. CONSENT TO MEETING: rr is on Hale Webb H.Williams ea era e ld UUrl-U.vray. Present : Mayor G.T.Sanders, City Clerk J.W.McGehee, City Attorney Price Dickson and Aldermen; Hale,Feathers, Harl$n, Bohe, Williams,Whitfield, White and Gray*. Tre Mayor stated that the meeting had been called for the above named purpose. ,' Toe proposal of W.R.Stepens Investment Co., Inc. And T.J.Raney & Sane to purchase the above mentioned Bonds was read in full by the Clerk, and after discuss+lon, Alderman Whitfield made a motion that the proposal(Or contract) be accepted, this motia seconded -by Alderman Hale, and was passed unanimously by the Council.* Alderman Hale made motion that to sign the contract, this motion was seconded imously by the Council* COPY OF CUNTRACT City of Fayetteville FayettevillerArkansas Gentlemen: the Mayor and City Clerk be authorised by Alderman Williams, and was passed u Little Rock, Arkansas October. 18# 1948., For your $80n,non City of Fayetteville, Arkansas Waterworks Revenue Refunding and Improvement bonds bearing a coupon rate of 3.20% maturing within a period••of thirty years with appr&ximately even annual payments we will pay you $Bn0,00n plus accrued inti est from date of bonds to date of delivery to us. 'Ne agree -to pay cost of printing the bonds and one half of the fee to be cha: by Rose, Dobyns, Meek and.House, Attorneys, Little Rock, Arkansas, for approving the is The bonds shall be .callable in inverse numerical order on any interest payin, date at inn and accrued interest from earned surplus and /or any unexpended funds from proceeds of the bond issuenot used for cost of the proposed improvements. On and after f,ive years from their date the bonds will be callable at Inn and accrued imterest from funds derived from any source. We will have the right to convert the bonds to a lower coupon rate, the conve sion to be figured according to the universal Bond Values Tables and subject to the app of Rose,Dobyns,Meek and House. The bonds will be delivered to us with the final legal approving opinion of Rose,Dobyns#Meek and House, At torneys, Little Rock, Arkansas within a period of 120 day from the date of this contract. We attach herewith Cashier's Check in the Amount of $Jn,noo as evidence of our good faith* This check is to be held by you pending delivery of the bonds to us and shall be retained by you'as your full and liquidating damages if we fail to comply wits the terms of this comtract; otherwise, it shall be applied upon the purchase price of the bonds when they are delivered to use W.R.Stephena Investment Co., Inc. Accepted this 18th day of October1948. G.T. an ers, Mayor 1!? Inv W4 6 By ir.E.WomeldorR, T.J.Raney & Sons By 1 r r Allderman Williams made a.motion that Alderman Whitfield and @ity Attorney Price bickson tie given a vote of appreciation for their untiring efforts in the successful negotiation I f the sale of the $800,n00 issue of,the City Water Works bonds, this motion was seconded by Alderman Hale, and was passed unanimously by the Council* There being no further business, Alderman Feathers made a motion toaadjourns seconded by Alderman White, which was passed unanimously by the Council, and the Mayor declared the Council adjourned, Approved mayor Attest C,Vty Cleric Fayetteville City Council met in regular session, Monday,October 25th,1948. Present: Mayor G.T.Samders, City Clerk J.W.McGehee, City Attorney Price Dickson, City Engineer E.T.Brown, and Aldermen; Hale, feathers, Harian, Bohe, Williams, Whitfield, White and gray. IMinutes of the regular meeting of October 11th and the called meeting of October 18th were read and approved. The following bills were presented after their approval by Alderman Bohe, member of the auditing committee: ehester Stephens $26.4n Frisco R.R.Co. $1,950.87 E?S.Chapman $26.49 Albert Gobel 26.4n �risco R.R.Co. 2,341.46 Fred Drain 26.40 R.E.Boyd 26.40 17.11 Hester 30.80 Henry Drain 26.40 Green Byrd 26.4n Delbert Hester 24.40 E.D.Ward 26.40 A.E.Stone 26.40 Carl Lower 26.40 Hiram Gabbard 24.40 Oran Dudley 26.40 3hir&ey Thornberry 26.40 Louis Stone 33.60 Tom Williams 26.40 Geo.Harrison 26.40 Frisco PaReCo. 1,798.67 Harry nolloway 26.40 kichard Lacy 24.40 Frisco R.R.Co. 586.74 E.S.Chapman 26.40 Claud Curry 26.40 H..E.Swift 79.74 Vred Drain 26.40 Glen Curry 26.40 Frisco R.R.Eo 576.12 Henry Drain 26.4n Aoward Wadkins 26.40 VJ':H.Hester 3n '98() E.D,.Ward 26.40 Oscar 9ilbreath 26.40 Delbert Hester 24.40 Louis Stone 33.60 Ilee Lacy 49.25 Carl Lower 26.40 Community Chest 60.00 Lige Gabbard 26,4n Shirley Thornberry26.4n Paul Jameson 13.nr Chester Stephens 26.40 Geo.Harrison 26.4n A.D.Morria Sery Ststion 150.50 2.E.Boyd 26.40 Ricard Lacy 2n.3n Andrews Implement Co. 21.32 Albert Gobel 26.40 Glen Curry 26.40 pities Service 87.56 Green Byrd 26.40 Howard Wadkins 26.40 A..D..Morris'Sery Statio 170.27 A?E.Stone 26.40 Oscar tsilbreath, 26.40 Rushing Plumbing Cc 113.78 Oran D}}dley 26.40 Claud Curry 30.90 A.D.Morria Sery Station 69.98 Tom Williams 26.40 Lee Lacy 41.70 Fayetteville Flying Service Harry Holloway 26.40 Lige Gabbard 26.40 Alderman White made a motion that the bills be allowed as approved, seconded by Alderman Whitfield, which was passed unanimously'by the Council. The question of closing an alley in Block 2, Oakland Place Additilon came up for a hearing, and there being no protests,Aldeiman Gray made a motion that the reques for closing the alley be granted, this motion was secomded by Alderman White, and was passed unanimously by the Council. Alderman Bohe imtroduced an ordinance entitled " AN ORDII4ANCE VACATING AND 3ANDONING THE ALLEY BEGINNING ON OAKLAND AVENUE AND RUNNING WEST TO LIT,DFLL AVENUE 3TWEEN LOTS 4 AND 29 AND LOTS 5 AND 28, IN BLOCK 20 OAKLAND PLACE ADDITIIOH TO THE CITY FAYETTEVILLE, ARKANSAS. The Ordinance was read in its entirety by the Clerk, Alderman Whitfield tde a motion that the rules be suspended and the Ordinance placed on its second reading its motion was seconded by -Alderman Gray, and was passed unanimously by the Council. The Clerk then read the Ordinance the second time, and after discussion, Alder in Gray made a motion that the rules be further suspended and the Ordinance placed on i hird and final reading, this motion was seconded by Alderman Harlan, and was passed una rously by the Council. The Clerk then read the Ordinance the third and finial time* „e Mayor then put the question "Shall the Ordinance pass"?, and on roll call by the lark, the following vote resulted; Ayes: Hale, Feathers, Harlan, Bohe, Williams, Whit- ield, White and Gray. Nays: None. And the Mayor declated the Ordinance passed, as there ere 8 Ayes, and no nays. ORDINANCE N0.942 N ORDINANCE VACATING AND ABA)NDONING THE ALLEY BEGINNING ON OAKLAND AVENUE AND RUNNING EST TO LINDELL AVENUE BETV7EEN LOTS 4 AND 29 AND LOTS 5 AND 28, IN BLOCK 2, OAKLAND LACE ADDITION TO THE CITY OF FAYETTEVILLE, ARKANSAS. WHEREAS, a petition was duly filed with the City Council of the City of Fayettevil rkansas, on the 13th day of September, 1948s asking the City Council to vacate and bandon all that portion of the alley designated on the plat of Oakland Place Addition t aid City now appearing of record in Plat Book, at page 65, in the office of the Records f Washington County, Arkansas, beginning at Oakland Avenue. WHEREAS, after due notices as required by law, the Council has, at the time and place mentioned in the notice, heard all persons desiring to be heard on the question and has ascertained that the alley or portion thereof, hereinbefore described, has heretofore been dedicated to the Public use as an alley herein described; has not been actually used by the public generally for a period of at least five years subsequent to the filing of the plat; that all the pwners of the property abutting upon the portion of the alley to be vacated have filed with the Council their written consent to such abandonment; and that public interest and welfare will not be adversely affected by the abandonment of such alley. NOW THEREFORE, be it ordained by the City Countil of the City of Fayetteville, Arkansas: