12047I
2
RESOLUTION NO. 121047
3 A RESOLUTION TO SET AUGUST 16, 2005, AS THE DATE FOR A
4 PUBLIC HEARING ON THE ISSUANCE OF UP TO SIX MILLION, SIX
5 HUNDRED THOUSAND DOLLARS ($6,600,000.00) IN MULTIFAMILY
6 HOUSING REVENUE REFUNDING BONDS FOR THE PLEASANT
7 WOODS APARTMENTS BY THE CITY OF LITTLE ROCK, ARKANSAS
8 RESIDENTIAL HOUSING AND PUBLIC FACILITIES BOARD; AND
9 FOR OTHER PURPOSES.
10
11 WHEREAS, Ark. Code Ann. § 14- 137 -101 et seq. (Michie Repl. 1998 & Supp.
12 2003), is the Public Facilities Boards Act, and permits public facilities boards to issue
13 revenue bonds for the purpose of financing and refinancing multifamily housing
14 projects, and
15 WHEREAS, the owner of Pleasant Woods Apartments has proposed the issuance
16 of up to six million, six hundred thousand dollars ($6,600,000.00) in Multifamily
17 Housing Revenue Refunding Bonds (Pleasant Woods Project) by the City of Little Rock,
18 Arkansas Residential Housing and Public Facilities Board to refund the Public Facilities
19 Board's Multifamily Housing Refunding Revenue Bonds (Pleasant Woods Project),
20 Series 1995, which refunded the Public Facilities Board's Multifamily Housing Revenue
21 Bonds (Pleasant Woods Project), Series 1985, which financed the costs of acquiring,
22 constructing, and equipping a multifamily housing facility within the City of Little
23 Rock, Arkansas, and
[PAGE 1 OF 2]
Resolution
Setting a public hearing on the issuance of up to $6,600,000 of
multifamily housing revenue refunding bonds for Pleasant
Woods Apartments by the Little Rock Residential Housing and
Public Facilities Board
1 WHEREAS, Section 147(f) of the Internal Revenue Code of 1986, as amended,
2 requires public approval by the governmental unit on behalf of which bonds are issued,
3 following a public hearing for which reasonable public notice was provided,
4 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
5 THE CITY OF LITTLE ROCK, ARKANSAS:
6 Section 1. A public hearing on the question of issuance of up to six million, six
7 hundred thousand dollars ($6,600,000.00) of Multifamily Housing Revenue Refunding
S Bonds (Pleasant Woods Project) by the City of Little Rock, Arkansas Residential
9 Housing and Public Facilities Board to be used to refund the Public Facilities Board's
10 Multifamily Housing Refunding Revenue Bonds (Pleasant Woods Project), Series 1995,
11 shall be held at 6:00 P.M., or as soon as the item can be dealt with on the regular agenda
12 of the Board of Directors, on Tuesday, August 16, 2005, during the regular meeting of
13 the Little Rock Board of Directors in the Board Meeting Room on the second floor of
14 City Hall, 500 West Markham, Little Rock, Arkansas, and all persons who wish to be
15 heard on this issue shall be given the opportunity to comment.
16 Section 2. At the conclusion of the public hearing, the Board of Directors may act
17 to adopt, modify, or amend a resolution to authorize the issuance of the bonds referred
18 to in Section 1 by the Public Facilities Board.
19 Section 3. Severability. In the event any title, section, paragraph, item, sentence,
20 clause, phrase, or word of this resolution is declared or adjudged to be invalid or
21 unconstitutional, such declaration or adjudication shall not affect the remaining
22 portions of the resolution which shall remain in full force and effect as if the portion so
23 declared or adjudged invalid or unconstitutional was not originally a part of the
24 resolution.
[PAGE 2 OF 2]
Resolution
Setting a public hearing on the issuance of up to $6,600,000 of
multifamily housing revenue refunding bonds for Pleasant
Woods Apartments by the Little Rock Residential Housing and
Public Facilities Board
I Section 4. Repealer. All laws and parts of laws are hereby repealed to the extent
2 of such inconsistency.
3 ADOPTED: July 19, 2005
4
5 ATTEST:
6
7 lam/
8 Nan Wood, City Clerk
9
10 APPROVED AS TO LEGAL FORM:
11
12 c: `6i t �- i�t C-k -Z
13 Thomas M. Carpenter, Cit ` Attorney
14
15
16 //
17 //
18 //
19
20 //
21 //
22 //
23 //
24
25 //
[PAGE 3 OF 2]
Resolution
Setting a public hearing on the issuance of up to $6,600,000 of
multifamily housing revenue refunding bonds for Pleasant
Woods Apartments by the Little Rock Residential Housing and
Public Facilities Board
APPROVED:
Barbara Graves, Vice Mayor