ORD NO 02-2005 CITY OF VAN BUREN, ARKANSAS
ORDINANCE NO. r ,2 -2005
AN ORDINANCE AMENDING ORDINANCE NO. 16 -2004, DECLARING AN
EMERGENCY, AND FOR OTHER MATTERS.
WHEREAS, The Council previously approved the purchase of a 2004 Pierce
Enforcer Fire Truck pursuant to Ordinance No. 16 -2004 at the
price of $263,435.00 to be paid in four, semi annual payments in
the amount of $68,034.37 at an interest rate not to exceed 3.98
and
WHEREAS, An error was made in the computation of price and payments; and
WHEREAS, The correct price is $263,455.00 to be paid in four semi annual
payments of $69,170.89;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF VAN BUREN, ARKANSAS:
SECTION 1: That Ordinance No. 16 -2004 is hereby amended to authorize the
Mayor to enter into an agreement with Citizen's Bank Trust
Company in order to finance payment of the fire truck in the
amount of $263,455.00 pursuant to Amendment 78, Section 2 of
the Constitution of the State of Arkansas. Payment shall be in
four, semi annual payments in the amount of $69,170.89 for a
period not to exceed four years and at an interest rate not to exceed
3.98
SECTION 2: Because the City of Van Buren is in need of an additional fire
truck for fire protection, and this purchase being necessary for the
public peace, health, safety and welfare, an emergency is declared
to exist. Therefore, this ordinance shall be in full force and effect
from after the date of the passage.
PASSED AND APPROVED THIS DAY OF JANUARY, 2005.
MAYO JO HRGS
ATTESTED:
goit
CITY CLERK/TREASURER