7150RESOLUTION NO. 7,150
A RESOLUTION APPROVING THE ISSUANCE OF
REVENUE BONDS BY THE CITY OF LITTLE ROCK,
ARKANSAS HEALTH FACILITIES BOARD (BAPTIST
MEDICAL CENTER); AND FOR OTHER PURPOSES
WHEREAS, the City of Little Rock, Arkansas Health
Facilities Board (Baptist Medical Center) (the "Board ") was
created by Ordinance No. 13,700, adopted and approved August 7,
1979 (the "Enabling Ordinance ") for the purpose of financing
facilities for use by Baptist Medical Center, in order to assist
Baptist Medical Center in continuing to meet the requirements of
the inhabitants of the City of Little Rock, Arkansas (the "City ")
and of the State of Arkansas for health care, pursuant to the
Constitution and laws of the State of Arkansas, including
particularly, Act No. 142 of 1975, as amended (the "Act "); and
WHEREAS, it has been found and determined by Baptist
Medical Center, and it is hereby declared, that there is an
immediate need for the acquisition, construction and equipping of
additional facilities, to be located on the campus of Baptist
Medical Center, for the provision of medical and nursing care,
including in particular rehabilitation and related health care
services (the "Project "); and
WHEREAS, the estimated cost of the Project is
approximately $14,000,000; and
WHEREAS, the most efficient method for the financing of
the acquisition, construction and equipping of the Project is by
the issuance, by the Board, of the Board's medical facilities
revenue bonds, under the authority of the Enabling Ordinance and
the Act, which bonds will be obligations only of the Board and will
not in any event constitute an indebtedness for which the faith
and credit of the City or any of its revenues are pledged;
NOW THEREFORE BE IT ORDAINED by the Board of Directors
of the City of Little Rock, Arkansas;
Section 1. Pursuant to the terms of the Act and of the
Enabling Ordinance, the issuance by the Board of its health care
revenue bonds, for the purpose of financing the acquisition,
construction and equipping of the Project, and costs incidental
and related thereto (the "Bonds "), is hereby approved.
Section 2. The authority of the Board and its officers
to execute and deliver such writings and to take such action as may
be appropriate to the issuance of the Bonds, the acquisition,
construction and equipping of the Project, and the consummation of
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such transactions as may be incidental or related thereto is
hereby ratified and confirmed.
Section 3. All resolutions and parts thereof in
conflict herewith are hereby repealed to the extent of such
conflict.
Section 4. This Resolution shall be in effect upon its
passage and approval.
PASSED: February 21, 1984.
APPROVED:
ATTEST:
Mayor J. 'W. Be field
ty Cle Jane Czech
(SEAL)
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