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ORDINANCE, NO. <br />AN ORDINANCE PROVIDING FOR THE ISSUANCE OF <br />BONDS FOR THE PURPOSE OF PURCHASING, CONSTRUCTING <br />AND IMPROVING A FLYING FIELD OR AIRPORT, LOCATED <br />EITHER WITHIN OR WITHOUT THE CORPORATE LIMITS <br />OF THE CITY OF BATESVILLE., ARKANSAS; LEVYING A <br />TAX SUFFICII--,'NT TO PAY TEE PRINCIFAL AND INTEREST <br />OF SAID BONDS; DECLARING AN EMERGENCY; AND FOR <br />OTHER PURPOSES. <br />WHEREASO by ordinance duly passed on the 6th day of <br />November, 1944, there was submitted to the qualified electors <br />of the City of Batesville, the question of whether it should <br />issue bonds to the amount of t.20,000 for the purpose of purchasing, <br />constructing and improving a flying field or airport, located <br />either within of without the corporate limits of the City of <br />Batesville, Arkansas, said bonds to bear Interest at the rate of <br />not to exceed three per centupi (3%) per annum but convertible to <br />a lower rate of interest on such terms that the City shall receive <br />no less and pay no more than it would receive or pay if the bonds <br />were not converted; and <br />WHEREAS <br />0 due notice of the election was given as required <br />by law, and said election was duly had on the 11th day of December, <br />1944, and at said election 195 votes were cast for the 20,OCO <br />Issue and 23 votes against It, and 196 votes were cast for the <br />tax to pay the bond issue and 24 votes against said tax; and <br />WHEREAS, the result of the election was announced by <br />proclamation of the Mayor, dated December 12,, 1944, and published <br />December 12, 1944, In the Batesville guard, a newspaper duly and <br />regularly published in said City, and no suit has been brought to <br />attack the result as so proclaimed, although more than thirty days <br />have elapsed since the proclamation, and said result as proclaimed <br />is now conclusive; and <br />