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CJ
N"
RESOLUTION NO.
8,586
A RESOLUTION SETTING A DATE FOR A PUBLIC HEARING ON THE
QUESTION OF THE ISSUANCE OF REFUNDING BONDS BY THE CITY
OF LITTLE ROCK, ARKANSAS RESIDENTIAL HOUSING AND PUBLIC
FACILITIES BOARD.
455
WHEREAS, the City of Little Rock, Arkansas Residential Housing
and Public Facilities (the "Board ") presently has outstanding its
Mortgage Revenue Bonds, Series 1982B (FHA Insured Mortgage Loan -
Kanis Place Apartments - Section 8 Assisted Project), dated May 1,
1982 (the "Bonds "), the unpaid principal balance of which is $3
million; and
WHEREAS, pursuant to policy announcements of the U. S.
Department of Housing and Urban Development ( "HUD "), the owner of
the project financed by the bonds has requested that the bonds be
refunded on terms approved by HUD, in order to obtain a savings in
interest cost; and
WHEREAS, pursuant to State and federal law applicable to the
issuance of revenue bonds by the Board, it is required that such
issuance be approved by the Board of Directors of the City of
Little Rock, following a public hearing, as to which reasonable
notice thereof shall have been given by a publication of notice in
a newspaper of general circulation within the City of Little Rock,
Arkansas;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS:
SECTION 1: A public hearing on the question of the issuance
of revenue bonds to refund the Bonds described above by the City of
Little Rock, Arkansas Residential Housing and Public Facilities
Board be held at the regular meeting of the Board of Directors to
be held at 6:30 p.m., Little Rock City Hall, 500 W. Markham,
Little Rock, Arkansas, on November 5, 1991, and that the City Clerk
Oq
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456
shall assure that notice thereof be published in the time and
manner provided by lair.
Section 2. This resolution shall be effective from and after
its passage and approval.
ADOPTED: October 15,. 1991
ATTEST:
ROBBIE HANCO R, CITY CLERK
APPROVED AS TO FORM:
THOMAS M. CAR ENTE
CITY ATTORNEY
APPROVED:
,11HARON PRIEST, MAYOR