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ORDINANCE NO. mil
AN ORDINANCE AMENDING SECTION 4 OF ORDINANCE
NO. 516 OF 1978; DECLARING AN EMERGENCY; AND
FOR OTHER PURPOSES.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COTJNCIL OF
THE CITY OF JACKSONVILLE, ARKANSAS, THAT:
Section 1. Section 4 of Ordinance No. 516 of 1978
is hereby amended to read as follows:
"Section 4. Powers. The Board is empowered,
from time to to loan, acquire, construct,
reconstruct, extend, equip, improve, sell,
lease, and contract concerning (which shall
include the purchase of mortgage loans and the
making of loans to mortgage lenders) residential
housing facilities as shall be determined by
the Board to be necessary to effect the pur-
poses of this Ordinance to provide decent, safe
and sanitary residential housing facilities
within the City. In addition, the
Board shall have each of the powers set forth
in Section 7 of the Act, as amended, and
appropriate to the purposes for which the
Board is created. The Board may enter into
such contractual or cooperative agreements
with such persons as may, in its discretion,
be advisable to w complish the purposes of
this Ordinance, including without limitation,
departments, agencies or instrumentalities of
the United States of America, the State of
Arkansas or the City, e.g the Department
of Housing and Urban Development, the Federal
Housing Administration, the Arkansas Housing
Development Agency, and the Little Rock Housing
Authority. The City Council reserves the right
to select or approve the underwriter or under-
writers for any such bonds."
Section 2. This Ordinance being necessary for the immediate
preservation of the public health, safety, welfare and morale
of the citizens of the City of Jacksonville, Arkansas, an emer-
gency is hereby declared to exist and the above Ordinance shall
be in full force and effect immediately after its passage.
APPROVED THIS 2nd DAY OF November , 1978.
CITY OF JACKSONVILLE, ARKANSAS
ATTEST: MAYOR
tT 0
C T LERK APPROVED AS TO FORM:
Ronald C. Mills,
City Attorney