14548 1 RESOLUTION NO. 14,548
2
3 A RESOLUTION TO EXPRESS SUPPORT FOR THE PROPOSAL TO
4 EXTEND THE EXISTING PROPERTY TAX MILLAGE FOR THE
5 LITTLE ROCK SCHOOL DISTRICT IN ORDER TO SUPPORT THE
6 CONSTRUCTION OF NEEDED FACILITIES; TO ENCOURAGE
7 CITIZENS TO VOTE FOR THE EXTENSION AT THE ELECTION TO BE
8 HELD ON MAY 9, 2017; AND FOR OTHER PURPOSES.
9
10 WHERAS,the Little Rock School District(LRSD) is an integral part of the City of Little Rock; and,
11 WHEREAS,the long-term economic health of the City is linked to an excellent public school system;
12 and,
13 WHEREAS,LRSD commissioned a study in 2014 to assess all district buildings and structures; and,
14 WHEREAS, the results of the study determined that more than $300 million was needed to finance
15 improvements and new construction; and,
16 WHEREAS, the funding required to finance the needed improvements can be generated by an
17 extension of the existing property tax millage; and,
18 WHEREAS,the extension of the mil lage would not require a new tax, but simply an extension of the
19 existing debt; and,
20 WHEREAS, the improvements to LRSD facilities would infuse approximately $160 million into the
21 local economy; and,
22 WHEREAS,the current interest rates are very favorable for moving forward with the financing of the
23 facility improvements; and,
24 WHEREAS, the opportunity to improve school facilities across the City by approving the millage
25 extension presents an opportunity not seen in decades;and,
26 WHEREAS,the millage extension is key to the return of LRSD to local control.
27 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
28 OF LITTLE ROCK,ARKANSAS:
29 Section 1. The Little Rock Board of Directors hereby expresses support for the millage extension to
30 benefit the Little Rock School District and encourages citizens to vote for it at the special election to be
31 held on May 9, 2017.
32 Section 2.Severability. In the event any portion of this resolution is declared or adjudged to be invalid
33 or unconstitutional, such declaration or adjudication shall not affect the remaining portions of this
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1 resolution, which shall remain in full force and effect as if the portion so declared or adjudged invalid or
2 unconstitutional,was not originally a part of the resolution.
3 Section 3.Repealer. All laws, ordinances, resolutions,or parts of the same,that are inconsistent with
4 the provisions of this resolution, are hereby repealed to the extent of such inconsistency.
5 ADOPTED: April 18,2017
6 ATTEST: APPROVED:
8 ADO' /
9 Allison Segars,Ass ant City Clerk Mark Stodola,Mayor
10 APPROVED AS TO LEGAL FORM: SPONSOR:
11I OW , I /
124 / il N. /moi
13 Thomas M. Carpenter, Att ne Kathy Web: i ice-Mayor
14
15 d
16 —e-Capt Ward 4 oo•Orance Hines,Ward 5
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_ fold
19 Doris Wright,Ward 6 B. yrick and 7
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22 Dean Ku ris,Position 8 Ge=on,Fortson,Position 9
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25 Jo cp Adcock,Position 10
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