Pine Bluff daily graphic. (Pine Bluff, Ark.) 1893-1942, 1919-09-03

came came due and payable on the 10th day of
! July. 1918, hearing date of October 20
191o. payable to the order of w. H.
Blackwood fiscal agent. and being mum
Der ;;}22939. and which is owned and
held by the Farmers Loan and Trust CO.
| of the city of New York. state of New
York.
And whereas said warrant was lawfully
issued for valid Indebtedness of tlf, city
namely that specified in ordinance mum
Der 143o f the city's ordinances: and the
money t ,reby represented and evidenced
was used and expended for the purposes
set forth in said ordinance: namely, to re
| fund il certain valid warrant given for the
purchase of apparatus for fire protection.
and other lawful Indebtedness. incurred
| in the various departments of the city
government, and for police and fire protec-
| tion.
| And whereas, arrangements have been
made between the mayor and the board of
public affairs with a fiscal agent, who
agrees to secure an extension of time of
payment of said warrant to the 10th day of
January. 1920 which said agent agrees
to do and perform upon payment of the
sum of three thousand dollars as compcn-
sation and reimbursement to him for his
services. commissions and expenses in
that behalf, and for carrying charges on
said warrant for Il period of one year end
ing with the 10th day of July, 1919;
And whereas, the owners and the hold
ers of said warrant will begin and in
stitute legal proceedings against the city
for the collection thereof, mourning large
amount of unnecessary legal court costs,
and will in addition to obtaining judy
ment for such legal court costs. and the
full face par value and amount of said
warrant will also recover interest thereon
at the legal rate of per centum per an
mum from the 10th day of July. 1918 to
the date of the said judgment, which
judgment will also bear Il like legal rate
/: of interest from date thereof until paid,
unless the city secures an extension of
of Il
! And whereas. there is no money in the
, treasury of the city which may be used
for the purpose of paying and discharg-
ing the said warrant, and said extension
to prevent said suit against the city.
Now, therefore. be it ordained by the
city council of Pine Bluff:
SECTION 1. That the board of public
affairs be and is hereby authorized and
directed to enter into contract with said
fiscal agent for the purpose of securing
an extension of time of payment of said
warrant to January TO- 1920, and for the
issuance of warrant OF warrants pay
able to the order of such person or per-
SONS as may be designated by him. and in
the denominations specified by said fiscal
agent, in the aggregate amount of three
thousand dollars all of said warrants to
be payable in New York exchange on the
10th day of September 1919: and said
board of public affairs be and is here
by directed and authorized to carry out
rants be issued in the usual form to be
signed and executed by the mayor and
attested by the city clerk and bearing
the seal Of the city The board of public
affairs be and is hereby authorized and
instructed and directed to deliver said war
rants when so issued, to said fiscal agent
or to the person or corporation designed
by him; provided, the holders of said war
rant in the sum of fifty thousand dollars
shall first file in the office of the city
clerk, written agreement upon their
part granting said extension of time until
the 10th day of January, 1920 for pay
ment of said warrant; and provided furth-
er, that the expense Of securing such eX
tension of time, including the fee of the
fiscal agent shall not exceed the sum or
three thousand dollars aforesaid.
SECTION 9. That all ordinances and
parts of ordinances in conflict herewith
be and same are hereby repealed. and this
ordinance being necessary for the protec-
tion aud preservation of the public peace.
health and safety shall take efefct and
be in force Immediately from and after
its passage.
Passed and approved on this the LIST dag
of September, 1919.
NJ. G.. HOLLIS, Mayor
Attest-W. A. LEE, City Clerk