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ORDINANCE ASSESSING UPON THE REAL PROPERTY WITHIN THE LIMITS OF WATER DISTRICT NO. 1 OF THE CITY OF JONESBORO, ARKANSAS, THE COST OF THE IMPROVEMENT PROPOSED FOR SAID DISTRICT
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Be It Ordained by the City Council of the City of Jonesboro, Arkansas:
Whereas, the majority in value of the property holders owning property adjoining the locality to be affected and situated in Water District No. 1 organized for the purpose of furnishing to the inhabitants of the City of Jonesboro, Arkansas, water, and for the purpose of purchasing or acquiring the water plant located in said City now the property of the Jonesboro Water and Light Company, have petitioned the City Council of the City of Jonesboro, Arkansas, for the construction, purchase and acquisition of said improvement, that the cost thereof shall be assessed upon the real property of said district according to the benefits received; and,
Whereas, said benefits received by each and every block, lot and parcel of real estate situated in said district equals or exceeds the local assessment thereon; and,
Whereas, the estimated cost of said improvement is one hundred seventy-nine thousand dollars;
Therefore, it is now ordained by the City Council of the City of Jonesboro, Arkansas, that said several blocks, lots and parcels of real property in said district be assessed according to the assessment list for said improvement district as the same now remains in the office of the recorder or city clerk, and that five percent on each of said blocks, lots and parcels of real property shall be paid annually on or before the first day of June until the whole of said local assessment shall be paid.
And said local assessment shall be a charge and a lien against all the real property in said district from the date of this ordinance and shall be entitled to preference over all judgments, executions, encumbrances or liens whensoever created, and shall continue until such local assessment with any penalty and costs that may accrue thereon shall be paid, provided as between grantor and grantee all payments not due at the date of any transfer of such real property shall be paid by the grantee.
It is further ordained that this ordinance shall take effect and be in force from and after its passage and adoption.
Passed and adopted this 2nd day of April, 1906.