8528 - 7-2-911
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RESOLUTION No. 8,528
A RESOLUTION TO DECLARE THE INTENT
OF THE BOARD OF DIRECTORS IN
RELATION TO THE RENOVATION OF WAR
MEMORIAL STADIUM AS AN ITEK FOR A
CAPITAL IMMOVEMENT BOND ISSUE.
WHEREAS, the Little Rock Board of Directors has set an
election date of October 8, 1991, for a 1/2 penny capital sales
tax for in excess of $100 million of capital projects, and
WHEREAS, the Little Rock Board of Directors has determined
that the expansion and renovation of War Memorial Stadium shall
be part of the capital projects to be voted upon by the
residents of the City of Little Rock, and
WfUKREAS, the Little Rock Board of Directors desires to
clarify issues of future use of the expanded War Memorial
Facility.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARRANSAS:
SECTION 1. The Board of Directors of the City of Little
Rock restates its intent to expand and renovate War Memorial
Stadium for events that can accommodate up to 60,000 spectators.
SECTION 2. This intention is based in part upon the premise
that the operation of War Memorial Stadium will be
self- supporting and shall not require subsidies from general
City revenues.
SECTION 3. To assure that the stadium is self- supporting
the Board will require that prior to the question of stadium
expansion and renovation being placed before the public for a
vote, long term operation contracts for the life of the proposed
bond site with the University of Arkansas as the primary stadium
user shall be executed.
303
qq
3a.
1 J • 304
2 I ADOPTED: July 2, 1991
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APPROVED AS TO FORM:
TKo-I%m M. CARPENTER
CITY ATTORNEY
...& 'l
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