8732415
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2 RESOLUTION NO. 8,732
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4 A RESOLUTION AUTHORIZING THE CITY
5 MANAGER TO USE THE UNALLOCATED
BALANCE AND THE PROCEEDS FROM NOTES
6 RECEIVABLE IN THE NEIGHBORHOOD
7 HOUSING SERVICES (NHS) ACCOUNT FOR
8 NEIGHBORHOOD AND HOUSING DEVELOPMENT
9 PROGRAMS; AND FOR OTHER PURPOSES.
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WHEREAS, the Neighborhood Housing Services (NHS) account
11 consists of principal and interest on housing rehabilitation
12 loans made with CDBG subgrants; and
13 WHEREAS, the subgrants were made by the now defunct
14 Neighborhood Services Agency; and
15 WHEREAS, there is an unobligated balance of $167,366.94 and
an additional $196,877.68 in notes receivable; and
16 WHMZEAS, the Board of Directors of the City of Little Rock
17 authorized the use of $177,562.48 on May 5, 1992, for the
18 operations of the East Little Rock Community Complex.
19 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS:
20 SECTION 1. The City Manager is hereby authorized to use any
21 unallocated balance and proceeds from notes receivable in the
22 Neighborhood Housing Services account for neighborhood
23 development and housing program contingencies that are
24 consistent with established employment, procurement, and
contracting procedures and limitations for the City of Little
25 Rock.
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27 ADOPTED: June 16, 1992
28 ATTEST: APPRO
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30 /o i
O C O S
31 CITY CLERK MAYOR
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33 APPROVED AS TO FORM:
3 4 THOMAS !S s ....s+ y ' _
M. CARPENTYK
35 CITY ATTORNEY
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