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RESOLUTION REQUIRING ALL FUNDS FROM THE STREET OR PAVING DISTRICT NO. 16 BE TRANSFERRED TO THE CITY STREET FUND
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WHEREAS, Street Improvement or Paving District No.16 of the City of Jonesboro received, under provisions of State law, from time to time, moneys for the payment or retirement of its bonded debt, and, after the full payment of such obligations $4,104.19 remain in the treasury of the District, which amount is materially less than the amount so received from the State of Arkansas, and the District is inactive; and
WHEREAS, the Arkansas Legislature, by Act 310 of 1953, provided that such excess funds shall be paid over to the treasurers of the cities and used for the repair and maintenance of streets, and the City is in need of funds for the repair of the streets formerly of this District and of the City:
BE IT, THREFORE, RESOLVED that the Treasurer of the City of Jonesboro forthwith and under the provisions of said Act cause all funds of Street or Paving District No.16 of the City of Jonesboro to be transferred to the City Street Fund, to be used for repair and maintenance of the City streets.
PASSED and ADOPTED this 12th day of July, 1965.