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AN ORDINANCE PROVIDING FOR THE ACQUISITION OF OFF-STREET PARKING AREAS: PROVIDING A MEANS OF FINANCING PURCHASE BY ISSUANCE OF NOTES AND CERTIFICATES OF INDEBTEDNESS; PROVIDING FOR THE FUNDING OR REFUNDING OF THE CERTIFICATES AND OTHER DEBT BY BOND ISSUE; SETTING UP CERTAIN FUNDS AND PRESCRIBING OTHER MATTERS RELATING THERETO (NOTE: THIS ORDINANCE WAS AMENDED BY ORD-62:2869 ON JANUARY 15, 1962; ORD-64:2732 ON JANUARY 6, 1964; ORD-65:2705 ON JANUARY 19, 1965; ORD-67:2667 ON JANUARY 30, 1967)
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WHEREAS, the City of Jonesboro, Arkansas, has, in accord and full compliance with Act of the Arkansas Legislature of 1949, Number 468, and other laws and ordinances, established a Parking Authority, which, after study, public presentation, and otherwise in full compliance with all the requirements of law, presented a Master Plan of Automobile Parking Facilities and amendments thereto, together with the program of construction and method of financing same, which has been found and it deemed to be in the public interest.
NOW, THEREFORE, be it ordained by the City Council of the City of Jonesboro, Arkansas:
SECTION 1: That the City Acquire, and the Mayor and City Clerk and Chairman and Secretary of the Parking Authority, are authorized and directed to purchase by deed, option, or contract for the purchase of, or to acquire by condemnation proceedings, for the public use as parking area or passageways, and to improve and make available for parking such places, lots or tracts of land in the City of Jonesboro as shall be approved and designated, including approval of consideration to be paid, by resolution duly adopted by both the Parking Authority and the City Council of Jonesboro.
SECTION 2: The Parking Authority of Jonesboro, Arkansas, is declared to be the duly constituted and heretofore created agency of the City of Jonesboro having the powers and jurisdiction set out in Chapter 49 of Arkansas Statutes, Annotated (Acts of the Arkansas Legislature of 1949, No. 46...
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