9916i I RESOLUTION NO. g, g 16
92
A RESOLUTION OF INTENT TO ISSUE REVENUE BONDS TO
PAY FOR THE COST OF IMPROVEMENTS AT THE LITTLE
ROCK ZOO; DIRECTING THE ISSUANCE OF REQUESTS FOR
QUALIFICATIONS TO SELECT BOND COUNSEL AND
UNDERWRITERS; AND FOR OTHER PURPOSES.
WHEREAS, there has been a review of the various sources of revenue that tip
City has available to it which might be used to support a special obligation revenue
bond issue pursuant to Amendment 65 of the Arkansas Constitution; and
WHEREAS, this review suggests that the fees collected by the Parks
Department in the operation of the Little Rock Zoo could be used for such a purchase
and
WHEREAS, there is a need for several million dollars of improvements at the
zoo to totally meet the various recommendations required to maintain a national
certification, and to maintain a wonderful family resource of this nature; and
WHEREAS, it is necessary to select bond counsel and underwriters pursuant
to a competitive process to achieve this bond issue.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF
DIRECTORS OF THE CITY OF LITTLE ROCK, ARKANSAS:
SECTION 1. The Board of Directors states its intent to issue revenue bonds
to pay for the cost of improvements at the Little Rock Zoo if these bonds are
financed by fees collected at the zoo.
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SECTION 2. The City Manager and the City Attorney are directedto start the
competitive selection process for bond counsel and forbond underwriters required to
execute this project.
ADOPTED: February 4, 1997 9 3
ATTEST:
ROBBIE HANCOCK
CITY CLERK
APPROVED AS TO FORM:
C: �t v�n�`i+ VA , CA4*AF
THOMAS M CARPENItR
CITY ATTORNEY
APPROVED:
JIUDAILEY `l
MAYOR