14609 1 RESOLUTION NO. 14,609
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3 A RESOLUTION TO APPOINT STEPHENS, INC., AS BOND
4 UNDERWRITER FOR THE PROPOSED ISSUANCE OF CAPITAL
5 IMPROVEMENT BONDS TO REFUND THE CITY'S OUTSTANDING
6 CAPITAL IMPROVEMENT CONSTRUCTION REVENUE BONDS (ZOO,
7 PARKS AND RECREATION PROJECTS), SERIES 2009A, CAPITAL
8 IMPROVEMENT REFUNDING REVENUE BONDS (ZOO, PARKS AND
9 RECREATION PROJECTS), SERIES 2009B, AND CAPITAL
10 IMPROVEMENT JUNIOR LIEN REVENUE BONDS, SERIES 2002; AND
11 FOR OTHER PURPOSES.
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13 WHEREAS, the City of Little Rock, Arkansas (the "City") has outstanding its Capital Improvement
14 Junior Lien Revenue Bonds, Series 2002 (the "Series 2002 Bonds"), Capital Improvement Construction
15 Revenue Bonds (Little Rock Zoo, Parks and Recreation Projects), Series 2009A (the "Series 2009A
16 Bonds") and Capital Improvement Refunding Revenue Bonds (Little Rock Zoo, Parks and Recreation
17 Projects), Series 2009B(the"Series 2009B Bonds"); and
18 WHEREAS,it is necessary to have Bond Underwriters provide the best financial terms for the issuance
19 and sale of the Franchise Fee Capital Improvement Bonds for the purpose of refunding the Series 2002
20 Bonds, the Series 2009A Bonds and the Series 2009B Bonds, approved by Resolution No. 14,497 on
21 February 7,2017,and
22 WHEREAS,the City requested proposals from qualified firms to handle this work; and
23 WHEREAS,the proposals received were reviewed and evaluated by a Professional Services Selection
24 Committee designated in accordance with City ordinance; and
25 WHEREAS, the Committee has concluded that the firm of Stephens, Inc., is the most qualified and
26 has the knowledge and experience with similar financings in Arkansas and nationally as an underwriter to
27 act as underwriter for the proposed bond issue;
28 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
29 OF LITTLE ROCK,ARKANSAS:
30 Section 1: The Board of Directors hereby authorizes the City Manager to enter into an agreement with
31 the firm of Stephens,Inc.,to act as Underwriter for this proposed bond issue.
32 Section 2: Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
33 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
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1 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
2 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
3 resolution.
4 Section 3. Repealer. All laws,ordinances,resolutions,or parts of the same,that are inconsistent with
5 the provisions of this resolution, are hereby repealed to the extent of such inconsistency.
6 ADOPTED: August 1,2017
7 ;j10 APPROVED:
8 111
10 usan ng ,City Clerk Mark Stodola,Mayor
11 : 'PR fi . ! : S TO LEGAL FORM:
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13 4•
14 Thomas M.Carpenter,City Attor y
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