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low/ <br />Page 3 <br />rn <br />Vote on measure by placing an "X" in the square <br />opposite the measure either for or against: <br />FOR the issuance of bonds in the amount of $ 250, 000 <br />for the purpose of financing the portion of the costs of <br />developing and improving the Municipal Flying Field <br />(Airport) to be borne by the City . . . . . . . . . . . . . . . <br />AaAINST the issuance of bonds in the amount of $250,000 <br />for the purpose of financing the portion of the costs of <br />developing and improving the Municipal Flying Field <br />(Airport) to be borne by the City . . . . . . . . . . . . . . . CJ <br />It is proposed to issue the bonds under the provisions <br />of Amendment No. 13 to the Constitution of the State of <br />Arkansas in order to finance the portion of the costs of <br />the improvements to be borne by the City (in addition <br />thereto, it is anticipated that grant funds will be obtained <br />from agencies of the United States of America) . The bonds, <br />if approved,will be dated July 1 1969, interest thereon will <br />be payable semiannually on January 1 and July 1 of each year, <br />commencing January 1, 1970, and the bonds will mature <br />serially on July 1 in each of the years 1972 to 1999, inclusive, <br />but will be subject to redemption prior to maturity in such <br />manner and upon such terms as shall be specified in the <br />ordinance authorizing their issuance. For the purpose of <br />paying the principal of and interest on the bonds, the City <br />Council will levy and there will be collected a continuing <br />annual tax of 3.44 mills on the dollar of the assessed valuation <br />of the taxable real and personal property in the City. <br />