14673 1 RESOLUTION NO. 14,673
2
3 A RESOLUTION TO APPOINT FRIDAY,ELDREDGE&CLARK,LLP,AS
4 BOND COUNSEL FOR THE PROPOSED ISSUANCE OF LITTLE ROCK,
5 ARKANSAS, CAPITAL IMPROVEMENT BONDS FOR THE PURPOSE
6 OF FINANCING A PORTION OF THE COST OF IMPROVEMENT OF
7 PARK FACILITIES WITHIN MACARTHUR PARK(THE ARTS CENTER
8 BONDS); AND PROVIDING FOR OTHER MATTERS IN CONNECTION
9 WITH THE ISSUANCE OF BONDS; AND FOR OTHER PURPOSES.
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11 WHEREAS, it is necessary to have Bond Counsel assist the City with the issuance of one(1)or more
12 series of Hotel Gross Receipts Tax Obligation Bonds to accomplish capital improvements to park facilities
13 within MacArthur Park, to include particularly, without limitation, the Arkansas Arts Center and the
14 MacArthur Museum of Arkansas Military History, approved at the special election held February 9, 2016,
15 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 Friday, Eldredge&Clark, LLP, is the most
20 qualified and has the knowledge and experience with similar financings in Arkansas to provide counsel to
21 the City on any and all legal matters pertaining to 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 Friday, Eldredge and Clark, LLP,to act as Bond Counsel 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32 the provisions of this resolution, are hereby repealed to the extent of such inconsistency.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: November 21,2017
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1 ATTE " : APPROVED:
2 II
4/14/
4 7" ,City Clerk Mark Stodola,Mayor
5 APP I 17 S TO LEGAL FORM:
6
8 Thomas M.Carpenter,City • 'tor ey
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