14407 1 RESOLUTION NO. 14,407
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3 A RESOLUTION TO APPOINT STEPHENS, INC., AS BOND
4 UNDERWRITER FOR THE PROPOSED ISSUANCE OF LITTLE ROCK
5 ARKANSAS CAPITAL IMPROVEMENT BONDS FOR THE PURPOSE OF
6 FINANCING A PORTION OF THE COST OF IMPROVEMENT OF PARK
7 FACILITIES WITHIN MACARTHUR PARK (THE ARTS CENTER
8 BONDS); AND PROVIDING FOR OTHER MATTERS IN CONNECTION
9 WITH THE ISSUANCE OF THE BONDS; AND FOR OTHER PURPOSES.
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11 WHEREAS, it is necessary to have bond underwriters provide the best financial terms for the issuance
12 and sale of the Hotel Gross Receipts Tax Obligation Bonds for the purpose of financing a portion of the
13 cost of capital improvements of park facilities within MacArthur Park, to include particularly, without
14 limitation, the Arkansas Arts Center and the MacArthur Museum of Arkansas Military History, approved
15 at the special election held February 9, 2016,and
16 WHEREAS,the City requested proposals from qualified firms to handle this work; and
17 WHEREAS,the proposals received were reviewed and evaluated by a professional services selection
18 committee designated in accordance with City Ordinance; and
19 WHEREAS,the committee has concluded that the firm of Stephens, Inc., is the most qualified and has
20 the knowledge and experience with similar financings in Arkansas and nationally as an underwriter to act
21 as underwriter for the proposed bond issue;
22 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
23 OF LITTLE ROCK,ARKANSAS:
24 Section 1: The Board of Directors hereby authorizes the City Manager to enter into an agreement with
25 the firm of Stephens, Inc.,to act as underwriter for this proposed bond issue.
26 Section 2: Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
27 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
28 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
29 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
30 resolution.
31 Section 3. Repealer. All laws, ordinances,resolutions, or parts of the same,that are inconsistent with
32 the provisions of this resolution, are hereby repealed to the extent of such inconsistency.
33 ADOPTED: September 6,2016
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1 ATTE APPROVED:
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4 u�: ,City Clerk Mark Stodola,Mayor
5 AP' 'O M.. TO LEGAL FORM:
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7 // , /. AALL..
8 Thomas M. Carpenter, ity Atto� ey
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