15050 1 RESOLUTION NO. 15,050
2
3 A RESOLUTION TO AUTHORIZE A THREE HUNDRED FIFTY
4 THOUSAND DOLLAR ($350,000.00) DISTRIBUTION TO THE
5 ARKANSAS ARTS CENTER FOR 2019 MAINTENANCE AND
6 OPERATION EXPENSE PURSUANT TO LITTLE ROCK, ARK.,
7 RESOLUTION NO. 14,234 (NOVEMBER 3, 2015); AND FOR OTHER
8 PURPOSES.
9
10 WHEREAS, the electors approved an increase in the hotel portion of a gross receipts tax in order to
11 finance improvements to City Park Facilities pursuant to an election called by Little Rock, Ark.,Ordinance
12 No.21,142(December I,2015)("1.18O _"); and,
13 WHEREAS,Little Rock, Ark., Resolution No. 14.234(November 3, 2015)("ERR ")authorized a
14 Maintenance Agreement("the Agreement')between the City of Little Rock("the City"),the Arkansas Arts
IS Center (AAC) ("AAC'), and the Arkansas Arts Center Foundation ("the Foundation"), to set forth the
16 maintenance obligations of the Cit) as to the buildings and grounds associated with the Arkansas Arts
17 Center;and,
18 WHEREAS, Section 6 of the Agreement states that "each and every year this Agreement remains in
19 effect the City covenants, agrees and guarantees to annually appropriate and provide to the AAC Funds to
20 be applied towards the AAC Expenses in an annual amount of not less than Seven Hundred Thousand
21 Dollars($700,000.00)(the"Basic Maintenance Funds")"; and,
22 WHEREAS, Section 6 (iii) of LRO 21.683 (December 18, 2018) (`the 2019 Budget Ordinance"),
23 provides an allocation of only $350.000.00 for AAC Expenses in 2019.
24 NOW,THEREFORE, BE it RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
25 OF LITTLE ROCK, ARKANSAS:
26 Section 1. The Mayor is hereby authorized to distribute an additional Three Hundred Fifty Thousand
27 Dollars($350,000.00), to comply with the terms of[Kit 14,234.
28 Section 2. Reference to the ability to appropriate this additional Three Hundred Fifty Thousand
29 Dollars($350,000.00) shall be included in an upcoming amendment to the 2019 Budget Ordinance.
30 Section 3. Funds for this distribution will he made from Account No. 108459-S45A71 I - Parks 1%
31 Lodging Tax. The funds for this distribution were accumulated prior to the issuance of the City of Little
32 Rock, Arkansas Hotel Gross Receipts Tax Bonds. Series 2018 which currently includes tax receipts
33 accumulated pursuant to LRO 21.1-1'-, and prior to the actual issuance of the Thirty-Two Million, Seven
34 Hundred Fifty Thousand Dollar($32.750,000.00)City of Little Rock, Arkansas, Hotel Gross Receipts Tax
I rage I of 21
1 Bonds, Series 2018, but authorized by LRO 21,564 (March 20, 2018), as amended by LRO 21,644
2 (November 5,2018).
3 Section 2. Severability. In the event any title, section. paragraph, item, sentence, clause, phrase, or
4 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
5 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
6 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
7 ordinance.
8 Section 3. Repealer. All laws, ordinances, resolutions, or parts of the same, which are inconsistent
9 with the provisions of this resolution are hereby repealed to the extent of such inconsistency.
10 ADOPTED: August 20,2019
. ,
11 .� APPROVED:
13 AL. ^
14 'fin y,City Clerk Frank Scott,Jr., :yor
15 APPR t I AS TO LEGAL FORM:
16
17 C4
18 Thomas M.Carpenter,Ci Attorn
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