99111 RESOLUTION NO. 9.911
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3 A RESOLUTION OF INTENT TO ISSUE REVENUE
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5 BONDS TO PAY FOR THE ACQUISITION OF A
6 PARKING DECK AT SECOND AND MAIN
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8 STREETS FOR THE USE AND BENEFIT OF THE
9 LITTLE ROCK CONVENTION AND VISITORS
10 BUREAU AND THE STATEHOUSE EXPANSION;
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12 TO ISSUE REQUEST FOR QUALIFICATIONS TO
13 SELECT BOND COUNSEL AND UNDERWRITERS;
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15 AND FOR OTHER PURPOSES.
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17 WHEREAS, the Little Rock Advertising and Promotion Commission (A &P)
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19 has considered the fact that the expansion of the Statehouse Convention Center is
20 going to require additional parking near the facility; and
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22 WHEREAS, this expansion will also use a Y- shaped space currently being
23 leased to the Excelsior Hotel for additional parking, thereby creating additonal needs
24 for hotel guest parking; and
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26 WHEREAS, the Stephens Building parking deck, while adjacent to these
27 facilities, is not a part of the Excelsior properties, and cannot be expanded vertically
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29 to accommodate additional parking anyway; and
30 WHEREAS, Metrocentre Improvement District No. 1, which owns and
31 operates the parking deck at Second and Main Streets, wishes to sellthe parking deck,
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33 and on December 10, 1996, the A &P Commission adopted a resolution that
34 recommended the City purchase the facility so that it can be operated by the
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36 Commission.
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NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF
DIRECTORS OF THE CITY OF LITTLE ROCK, ARKANSAS:
$ "J
SECTION 1. The Board of Directors states it intent to issie revenue bonds to
pay for the purchase and improvementof a parking deck at Second and Main Streets
form the Metrocentre Improvement District No. 1, this purchaseto be made on behalf
of and for the benefit of the Little Rock Advertising and Promotion Commission.
SECTION 2. The City Manager and City Attorney are directed to start the
competitive selection process for bond counsel and forbond underwriters required to
execute this project.
ADOPTED: February 4, 1997
ATTEST:
ROBBIE HANCOCK
CITY CLERK
APPROVED AS TO FORM:
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THOMAS M. CARPENT
CITY ATTORNEY
APPROVED:
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