12332RESOLUTION NO. 12,332
A RESOLUTION AUTHORIZING THE MAYOR AND CITY CLERK, IN
COOPERATION WITH THE UNDERWRITERS AND BOND COUNSEL, TO
PROCEED WITH MATTERS PRELIMINARY TO THE ISSUANCE OF NOT
TO EXCEED $29,500,000 PRINCIPAL AMOUNT OF AIRPORT REVENUE
BONDS; APPROVING THE PREPARATION AND DELIVERY OF A
PRELIMINARY OFFICIAL STATEMENT; AND SETTING FORTH OTHER
MATTERS PERTAINING TO THE AIRPORT REVENUE BONDS
WHEREAS, the Little Rock Municipal Airport Commission has determined that it is in the
best interest of the City of Little Rock, Arkansas to issue Airport Revenue Bonds for the purpose of
financing the costs of acquiring real property for current and future airport expansion and of design
and construction of ramps, taxiways and other airport improvements at Little Rock National Airport;
and
WHEREAS, in order to provide for the issuance and sale of the Airport Revenue Bonds, the
City will offer and ratify the selection of Regions Bank, as Trustee, Morgan Keegan & Company,
Inc., Banc of America Securities, Inc., M.R. Beal & Company and Edward Jones, as Underwriters
and Wright, Lindsey & Jennings LLP and Ivory Law Firm, as Co -Bond Counsel;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS, THAT:
SECTION 1. Such preliminary actions as are determined to be necessary by the Mayor and
Airport Commission are hereby authorized for the marketing of not to exceed $29,500,000 in
aggregate principal amount of Airport Revenue Bonds in order to provide sufficient funds for the
Airport improvements; provided, however, that at such time as the Mayor and Airport Commission
may determine to be in the best interests of the City, the final terms of the sale of the Airport
Revenue Bonds shall be submitted for approval by the Board of Directors, together with the
proposed form of the documents necessary for the issuance of the Airport Revenue Bonds, including,
without limitation, the bond purchase agreement and supplemental trust indentures. The sale of the
Airport Revenue Bonds may be considered at a regular or special meeting of the Board of Directors
as the Mayor shall consider appropriate.
SECTION 2. The preparation of a Preliminary Official Statement and its distribution to
prospective purchasers of the Airport Revenue Bonds are hereby approved. The Mayor is hereby
authorized and directed to cause the Preliminary Official Statement to be delivered for and in the
name of the City, with such provisions therein as shall be approved by the Mayor, who is authorized
to execute and deliver to the Underwriters a certificate, when requested by the Underwriters, to the
effect that the Preliminary Official Statement is deemed final for the purposes of Securities and
Exchange Commission Rule 15c2 -12.
SECTION 3. The City hf,reby affirms and ratifies the appointments of Regions Bank as
Trustee and Paying Agent for the Airport Revenue Bonds, and the selection of Morgan Keegan &
Company, Inc., Banc of America Securities, Inc., M. R. Beal & Company and Edward Jones as
Underwriters and Wright, Lindsey & Jennings LLP and Ivory Law Firm as Bond Counsel.
SECTION 4. The City hereby authorizes and directs the Mayor, the City Clerk, and other
officers and employees of the City to carry out or cause to be carried out all appropriate actions, to
execute such other certificates or documents to evidence authority as authorized herein, and to take
such other actions as they, in consultation with Bond Counsel, shall consider necessary or advisable
in connection with this Resolution and the Preliminary Official Statement, in order to prepare for the
issuance, sale and delivery of the Airport Revenue Bonds.
SECTION 5. This Resolution shall be effective from and after fhe date of its adoption.
Adopted August 15, 2006.
9�
Jim EVY, Mayor
ATTEST:
cy ood ity Clerk
APPROVED AS TO FORM:
Thomas M. Carpenter,
City Attorney