15549 1 RESOLUTION NO. 15,549
2
3 A RESOLUTION TO EXPRESS SUPPORT FOR THE PROPOSAL TO
4 EXTEND THE EXISTING PROPERTY TAX MILLAGE FOR THE
5 LITTLE ROCK SCHOOL DISTRICT IN ORDER TO SUPPORT THE
6 CONSTRUCTION OF NEEDED FACILITIES; TO ENCOURAGE
7 CITIZENS TO VOTE FOR THE EXTENSION AT THE ELECTION TO BE
8 HELD ON NOVEMBER 2,2021; AND FOR OTHER PURPOSES.
9
10 WHEREAS,the Little Rock School District(LRSD)has resumed local control;and,
11 WHEREAS,the long-term economic health of the City of Little Rock is linked to an excellent Public
12 School System;and,
13 WHEREAS,in 2014,LRSD commissioned a study to assess all district buildings and structures;and,
14 WHEREAS, the results of the study determined that more than Three Hundred Million Dollars
15 ($300,000,000.00)was needed to fmance improvements and new construction;and,
16 WHEREAS,the average age of school buildings in LRSD is sixty-five(65)years and the opportunity
17 to improve school facilities across the City by approving the millage extension presents an opportunity not
18 seen in decades;and,
19 WHEREAS,the extension of the debt would allow LRSD to fulfill the commitment to build the new
20 McClellan K-8 with an anticipated groundbreaking in January 2021,a new West Little Rock High School,
21 and significant renovations to Central and Parkview High Schools,among other campuses;and,
22 WHEREAS, the funding required to fmance the needed improvements can be generated by an
23 extension of the existing property tax millage without any tax increase;and,
24 WHEREAS,the approved funding may only be used for capital projects and must be expended within
25 three(3)years;and,
26 WHEREAS,the current interest rates are very favorable for moving forward with the financing of the
27 facility improvements.
28 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
29 OF LITTLE ROCK,ARKANSAS:
30 Section 1.The Little Rock School District Board of Directors hereby expresses support for the millage
31 extension to benefit the District and encourages citizens to vote for it at the election to be held on November
32 2,2021.
33 Section 2. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
34 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: October 19,2021
7 / APPROVED:
8
g � �11
10 .usan L .leyty Clerk Frank Scott,Jr.,Ma
11 APPRO I A t LEGAL FORM:
12
13 gL • (4lil/
14 Thomas M. Carpenter,City Atto y
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