Loading...
0518 s • el' 511 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