HomeMy WebLinkAbout05-53 RESOLUTIONRESOLUTION
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A RESOLUTION PROVIDING FOR THE APPLICATION OF THE PROCEEDS DERIVED FROM THE SALE
OF WATER REVENUE BONDS TOTALING assn 000.00 OUT OF THE CITY OF FAYETTEVILLE'S
$450,000.00 AUTHORIZE) WATER REM! BOND ISM, DATED DECEMBER 15, 1952, FOR THE
PURPOSES FOR WHICH SAID BONDS WERE AUTHORIZED TO BE ISBUID.
WHEREAS, the City Council of the City of Fayetteville, Arkansas by Ordinance
No. 1040, adopted on the 15th day of December, 1952, and approved by legal voters
of the City of Fayetteville at a special referendum election held on the 20th day
of January„1953, authorized the issuance of $450,000.00 in water revenue bonds
for the purpose of constructing betterments and improvements to the municipal
waterworks system, and
'WHEREAS, IT is desirable to specify and direct the application of the proceeds
derived from the sale of4q p�oo0. oO of said bonds dated December 15, 1952 for
the purpose of constructing a pump station near the present dam site at Lake Fayette-
vil3s and laying a force main from the present filter plant located on Mt. Sequoyah
to Lake Fayetteville,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE,
ARKANSAS:
1. That pursuant to Ordinance No. 1040 adopted December 15, 1952, by the City
Council of the City of Fayetteville, Arkansas, and approved by legal voters of said
City at a special referendum election held on the 20th day of January, 1953, it is
hereby declared that Bonds No. i _______tou inclusive, in the aggregate principal
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amount of $ .2.so, oeo, o a, shabe issues sold and delivered as provided in
Ordinance 1040 for the purpose of paying for the cost of constructing the aforesaid
betterments and improvements to the waterworks system together with costs of all
engineering, legal, and other expenses necessary or incidental to such construction.
2. That the Mayor and the City Clerk be and they are hereby authorized to
execute and deliver said bonds totaling the sum of 's.sa, 000.00pursuant to the
terms and provisions of Ordinance No. 1040.
3. That it is ascertained and declared that the waterworks system of the
City of Fayett,e'r_lle, Arkansas, is inadequate to meet the ordinary needs of the
water users of the City of Fayetteville; that the lack of an adequate waterworks
system constitutes an immediate danger to the life, lealth and property of the
inhabitants of the City of Fayetteville; and that it is necessary that the City
of Fayetteville immediately construct betterments and improvements to the water-
works system to protect and preserve the life, health and property of its
inhabitants. It is therefore, declared that an emergency exists, that this
resolution is necessary for the immediate preservation of the public peace, health,
and safety, and that this resolution shall take effect and be in force from and
after its passage.
-TQ55eel CIO di mod - 11/440,Vt4i q, rte. -3
Attest:
�. 9r 91,94.04---
Y Clerk
Mayor
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