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15058I RESOLUTION NO. 15,058 2 3 A RESOLUTION TO APPROPRIATE THREE HUNDRED NINETY-ONE 4 THOUSAND, THREE HUNDRED THIRTY-EIGHT AND 86/100 DOLLARS 5 ($391,338.86), FROM THE CITY'S 3/8 -CENT CAPITAL SALES AND 6 COMPENSATING USE TAX PROCEEDS, TO THE ARKANSAS 7 LIVESTOCK SHOW ASSOCIATION FOR CAPITAL IMPROVEMENTS 8 TO THE ARKANSAS STATE FAIRGROUNDS; AND FOR OTHER 9 PURPOSES. 10 11 WHEREAS, pursuant to Section 8. C. of Little Rock, Ark., Resolution No. 13,343 (July 11, 2011), the 12 Board of Directors directed proceeds be set aside in an amount up to Three Million Dollars ($3,000,000.00) 13 for Expansion and Improvement of Facilities to enhance the Arkansas State Fairgrounds; provided the Fair 14 remain at its current location within the City on Roosevelt Road; and, 15 WHEREAS, an initial appropriation of Ninety -Eight Thousand, Seven Hundred Dollars ($98,700.00) 16 was made for improvements to Barton Coliseum in Little Rock, Ark., Resolution No. 13,577 (October 1, 17 2012); and, 18 WHEREAS, an appropriation for Ninety -Five Thousand Dollars ($95,000.00) was made to assist with 19 additional improvement costs to the Coliseum and Administration Building on the Fairgrounds in Little 20 Rock, Ark., Resolution No. 13,874 (April 15, 2014); and, 21 WHEREAS, in Little Rock, Ark., Resolution No. 14,770 (April 17, 2018) the City Manager and other 22 City employees were authorized to execute an agreement between the City and the Arkansas State Fair 23 Association ("ASFA"), also referred to as the Arkansas Livestock Show Association, to formalize the 24 contractual terms of the relationship; and, 25 WHEREAS, the Arkansas Livestock Show Association has announced its intention to keep the Fair in 26 Little Rock for the foreseeable future; and, 27 WHEREAS, the General Manager of the Arkansas State Fair Association has requested funding to 28 reimburse the Arkansas Livestock Show Association in an amount of Three Hundred Ninety -One 29 Thousand, Three Hundred Thirty -Eight and 86/100 Dollars ($391,338.86) for capital improvements on the 30 main gate, perimeter fencing, and south parking lot. 31 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY 32 OF LITTLE ROCK, ARKANSAS: 33 Section 1. The sum of Three Hundred Ninety -One Thousand, Three Hundred Thirty -Eight and 86/100 34 Dollars ($391,338.86) is hereby appropriated from the proceeds of the 3/8 -Cent Capital Sales and [Page 1 of 21 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 Compensating Use Tax to reimburse the Arkansas Livestock Show Association for capital improvements on the main gate, perimeter fencing, and south parking lot. Section 2. Funds for this appropriation are available in Account No. 326459, Activity TS45A09. Section 3. Severability. In the event any section, paragraph, item, sentence, clause, phrase or word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or adjudication shall not affect the remaining portions of the resolution which shall remain in full force and effect as if the portion so declared or adjudged invalid or unconstitutional were not originally part of this resolution. Section 4. Repealer. All laws, ordinances, resolutions, or parts of the same that are inconsistent with the provisions of this resolution are hereby repealed to the extent of such inconsistency. ADOPTED: September 3, 2019 ,f ity Clerk TO LEGAL FORM: c7N/klelt4� 14A-. Thomas M. Carpenter, City Atto ey H H H H H H H H H H H H H H H H H APPROVED: Frank Scott, Jr.,M6J70 [Page 2 of 21