HomeMy WebLinkAbout45-25 RESOLUTIONRESOLUTION
Be
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Be it resolved by the City council of the city of
Fayetteville, State of Arkansas, meeting in regular session in
said city on this the 14tAlday of December, 1925, that the con•
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tract of purchase of one 240 horse power Diesel engine and one
12 inch by 18 inch Ucp power pump with fittings and equipment
as per specifications therein set out, entered into by the Board
of Commissioners and the Board of Managers of Water Improvement
District Number 1 of Fayetteville, Washington County, Arkansas
on the /aday of December 1925 together with the resolution
of saia Board of Commissioners and Board of Managers accepting
the bid and proposal for the purchasing thereof from Fairbanks,
Morse and Company, of Chicago, Illinois by and on behalf of
Water Improvement District. -Dumber 1 of the City of,Fayetteville,
_ ATkansas,....baHandthe same hexel4F4S-aPprovesLzand
Mayor of said city of Fayetteville and C. W. Appleby, Secretary
of the Board of Commissioners of Water Improvement Districe Number
1, of the City of Fayetteville are hereby authorized, empowered and
1M.
directed to make and execute said contract in the form presented
in said proposal by Fairbanks, Morse and Company, to sign notes
for the deferred payments, as set out in said Proposal, to sign
and execute a Pledge for Water Improvement District Number 1 of
the city of Fayetteville, Arkansas in accordance with the terms
and conditions of said proposal
contract, to deliVer copies
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to the said Fairbanks, Morse and Company and file copies and make
true report af their actions hereunder to the Board of Commissioners
and to the council of said city of Fayetteville at their next reg-
ular meeting after the same shall have been done.
. And whereas it is the purpose of the City of Fay-
etteville, Arkansas to make provisions for the payment of said
obligations as they respectively mature.
Therefore, be it resolved and ordained that, to pay
the principal of the series of warrants or notes issued to be
A
issued to the said Fairbanks, Morse and Company in payment for
said machinery and the installation of same, as in said contract,
set forth, hereby appropriatekaed set aside all sums of money
A
received from the operation of the Water Plant of Water Improvement
District Number 1 of the City of Fayetteville over and above the
operating expenses and surer said sums so received monthly over and
above operating expenses as aforesaid shall be applied monthly to
the payment of said warrant or notes as the same mature, being
37 notes, each for the sum of $1,0344, the first falling due
October 1st, 1926, and one note on the first day of each month
thereafter for 37 months, until the whole sum of
shall have have been paid; that the aforesaid warrants or notes are
not a general obligation imm of the said city of Fayetteville
but are a special obligation confined to the net .earnings of
gthiflatar":Prant-OfwffetdedistrideNifffibluivhich4.res=plidgee-f6ft:_
securapor the payment thereof: that said anticipated receipts
from said sources are and will be sufficient to make payment
of the above debt
mature-.
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ArtD.c19,25
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and amount of said warrants as they respectively
Passed and approved this
)47(i day of December
OststaA, Wt. ausdkJev.
Mayor of the City of
Fay.etteville, Arkansas.a.
C ot2/ea--cc
City Clerk of the City of
Fayetteville ,---Arkansas.,- -