106269
RESOLUTION NO. 10,626
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A RESOLUTION OF INTENT TO PROVIDE ADDITIONAL p
FUNDS FOR THE STEPHENS COMMUNITY CENTER; AND 48
FOR OTHER PURPOSES.
WHEREAS, on October 11, 1994, the citizens of the City of
Little Rock voted to approve the issuance of capital improvement
refunding bonds within the City, and in the process, approved a
specific issue of $1,000,000 to finance a community center adjacent
to the new proposed Stephens Elementary School being built by the
Little Rock School District; and
WHEREAS, this issue was Question Six of the ballot approved in
Little Rock, Ark., Ordinance No. 16,744 (September 6, 1994)( "LRO");
and
WHEREAS, the issuance of these bonds and the pledge of a
property tax assessment was approved in LRO 16,839 (February 6,
1995) ; and
WHEREAS, the bids for the project were jointly issued by the
City and the Little Rock School District, and the cost of all
capital improvements and furnishings for the community center would
exceed $1,000,000; and
WHEREAS, the Board of Directors of the City of Little Rock is
aware of the constraints on the use of bond monies enunciated by
the Arkansas Supreme Court in Arkansas - Missouri Power Corp. v. City
of Rector, 214 Ark. 649, 217 S.W. 2d 335 (1949); and
WHEREAS, to assure that the monies spent by the City as a part
of this bond financing do not violate the Arkansas Constitution,
but in an attempt to show that the City intends at some future date
to do more than merely building a "gymnasium, meetings facilities,
and city offices," as set forth in the ballot title, but intends to
I operate a much more involved community center as the interests of
2 the Community in such a center expand; and 48 rj
3 WHEREAS, the City has determined from other community centers
4 in the City and in the enhanced interests in neighborhood programs,
5 neighborhood associations, and neighborhood alert centers, that the
6 continued improvement and enhancement of such facilities is a major
7 concern of the citizens.
8 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
9 THE CITY OF LITTLE ROCK, ARKANSAS:
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SECTION 1. The Board of Directors states its intent to provide
funds in the future to enhance gymnasium, meeting facilities and
city offices that are to be built at the Stephens Community Center
in cooperation with the construction by the Little Rock School
District of the Stephens Elementary School.
SECTION 2. The Board note that after the expenditure of
$1,000,000 in capital improvement funds to construct the community
center in accordance with the ballot title, the City desires to
expend an additional $150,000 to enhance the furnishing and
equipping of the community center as desired for optimal operation,
and that it is the intent of the Board to find Funds through future
budget processes that would accomplish such enhanced features for
this community Center.
Adopted: August 17, 1999
Attest:
Robbie Hancock, City Clerk
App oved as to Legal Form:
7dt'e- r� /Y\
Thomas M. Carpenter, ty Attorney
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Approved: �n
U�
Jim iley, Mayor