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1 RESOLUTION NO. 10.545
19;
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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)
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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
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WHEREAS, the
Board proposes to issue not
to exceed
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$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;
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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.
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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