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105450 0 1 RESOLUTION NO. 10.545 19; 2 3 A RESOLUTION AUTHORIZING THE ISSUANCE OF 4 REVENUE BONDS BY THE .CITY OF LITTLE ROCK, 5 ARKANSAS HEALTH FACILITIES BOARD (COMMUNITY 6 LIFE SERVICES) 7 8 WHEREAS, by Ordinance No. 15,716 adopted July 18, 1989, 9 the Board of Directors of the City of Little Rock, Arkansas (the 10 "City "), created the City of Little Rock, Arkansas Health 11 Facilities Board (Community Life Services) (the "Board "); and 12 WHEREAS, the Board has heretofore issued $810,000 in 13 original principal amount of its Revenue Bonds, Series 1989 (the 14 "Bonds ") for the purpose of financing two 10 -bed intermediate care 15 facilities for the mentally handicapped located on a .76 -acre tract 16 approximately 177.56 feet south of the southeast corner of Michael 17 Drive and Kanis Road in the City, which facilities are owned by 18 Community Life Services, Inc., an Arkansas nonprofit corporation; 19 and 20 WHEREAS, the Board proposes to issue not to exceed 21 $810,000 in principal amount of its refunding revenue bonds (the 22 "Refunding Bonds ") for the purpose of refunding the outstanding 23 Bonds; 24 WHEREAS, the Board of Directors of the City has 25 determined that the public purposes for which the Refunding Bonds 26 are to be issued serve a proper need; 198 27 NOW, THEREFORE, BE IT RESOLVED by the Board of Directors 28 of the City of Little Rock, Arkansas: 29 Section 1. The issuance of the Refunding Bonds by the 30 Board is hereby authorized and is in all respects approved. 31 Section 2. By the adoption of this Resolution the City 32 assumes no liability or responsibility for the repayment of the 33 Refunding Bonds. 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 Section 3. This Resolution shall be effective immediately upon its passage. PASSED: May 4, , 1999. ATTEST: ROBBIE HANCOCK, CITY CLERK APPS�"�V��ED "�AS TO FORM: APP M. CARPENTER CITY ATTORNEY APPROVED: V� JIM A LEY, MAYOR