Pine Bluff daily graphic. (Pine Bluff, Ark.) 1893-1942, 1916-11-22
be in words and figures as follows:
Contract,

contract
This contract. made and entered
into by and between the Board OF
Public Affairs of the City of Pine
! Bluff. Arkansas, being hereunto duly
authorized by the City Council of the
City of Pine Bluff, Arkansas. and
hereinafter designated as City, and J.
O. Gunter.
Witnesseth:
That the said Board of Public At
fairs Of the said City of Pine Bluff,
Arkansas, acting III pursuance of the
authority and direction of the City
Council has this the DIST day of No
vembcr. 1916, employed J. o. Gunter,
to act as fiscal agent If said City for
a neriod of three years from this date,
upon the following terms, conditions
and stipulations, to-wit:
First, II is mutually understood and
agreed that the said fiscal agent shall
have the sole power and authority of
supplying money in the sum of One
Hundred Thousand Dollars ($l00,
OoOOO) for the said City Of Pine Bluff
! provided that the said sum of money
is paid into the City Treasury be-
! fore the 10Th day of November, 1916.
| Second II IS further agreed and
understood that as . consideration
for the services of the said J. O. Gun
ter, in supplying said money, the City
agrees to pay him sums equal to sev-
en- and one-half (71aD per cent, upon
all amounts so supplied by him for
the use and benefit OF the said City.
Third. Said ]. O. Gunter in con
sideration of this contract and agree
| Will 4
City that the said seven and one-half
(7E) per cent shall cover all costs,
services and expenses, or any other
sums which he may be required to eX
pend in performing his service and
supplying money herein agreed. and
in further consideration of this con
tract, he agrees that he will supply
the City with the sum of One Humid
red Thousand Dollars ($10O,00O.0o)
one year from the date of this con
tract. One Hundred Thousand Dolla =
! ($100, 000.00) two years from the dare
of this contract and One Hundred
Thousand Dollars, $100,000.00) three
years from the date of this contract
if the City SO requests him, through
it's duly constituted authorities, pro.
vided said City shall give thirty days
notice in advance of the desire tc
make such loan.
Fourth AS guarantee OF the goot
faith upon the part of the said J. O
Gunter and of his ability to compl,
with the terms and conditions of this
contract, the said J. o. Gunter agree!
to deposit with the City Treasurer o
the City of Pine Bluff, Arkansas. col
lateral securities of unquestionet
value or a surety bond to the extern
of So, said collateral securi
ties Or surety bond to be approved b,
the Board of Public Affairs. condi
toned: That if the sac j. O. Gunie1
shall fail or refuse to comply with til,
terms or conditions of this contrac
WHEN called upon, according to tn,
! terms hereof. the said deposit shall
1 thereby be Immediately forfeited x
the City of Pine Bluff, Arkansas, A
full and liauidated damages for hi:
failure to so perform his part OF T.,
D said contract, and in order to on
+ force said forfeituresSit shall not h,
i necessary for the said City to resort Il
: any legal process whatever.
Fifth 1t is further agreed an
understood, that if the said J. Q
l Gunter shall fail or refuse to suppl,
the money as herein provided, within
: the time limit as specified, when dul.
j called upon so to do, this contrac
shall Immediately become null ant
: void. except as to forfeiture of guar
e anty deposit and the said City shall
S have the right to procure the salt
funds from any other source from
I which it may desire.
Sixth, Whereas, said City has FIT.
6 Thousand Dollar ($50,000) loan nov
i outstanding that natures in 1918
: made through w. Fl. Blackwood, nov
$ if the said Blackwood has not ar
4 ranged with the City for financing thu
/. same, thirty days before it's maturity
j said J. o. Gunter hereby agrees tt
: finance the same if the City request
him to do so, upon the same terms a
: herein provided
0 In testimony whereof, the board o
public affairs of the City of PIN
0 Bluff, Arkansas, and j. o. Gunte1
q have executed this contract in tripli
! cate on this the 21st day of November
e 1916.