10743I RESOLUTION NO. 10, 743 711-6
2 A RESOLUTION TO ACCEPT THE DISSOLUTION OF
3 ARKANSAS STATE HIGHWAY 10 PARKWAY PROPERTY
4 OWNERS IMPROVEMENT DISTRICT NO. 338; AND FOR
5 OTHER PURPOSES.
6 WHEREAS, the I -630 to Arkansas State Highway 10 Parkway Property Owners
7 Improvement District No. 338 has completed all of the improvements for which it was formed
8 and paid all debts and retired all bonds, and
9 WHEREAS, pursuant to state statute the District has entered into a contract with the
10 City by which it will turn over to the City at least $90,000, and possibly more, in remaining
I funds to be used for the purpose of repairing, enhancing and maintaining the improvements
12 constructed by the District, and
13 WHEREAS, the District does not wish to perform any other services, and does not
14 desire that any other assessments be made against the members of the District,_
15 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
16 THE CITY OF LITTLE ROCK, ARKANSAS:
17 Section 1. The Board declares that I -630 to Arkansas State Highway 10 Parkway
18 Property Owners Improvement District No. 338 be, and hereby, is dissolved and no future
19 assessments on its behalf will be made.
20 Section 2. The Board accepts the $90,000, or more, to be paid to it by the District in
21 unused funds, and declares that these monies will be used only for the maintenance,
22 enhancement, repair, or any combination of these uses, of the improvements constructed by
23 the District as required by state statute.
24 ADOPTED: December 28, 1999
25 ATTEST: APPROVED:
26
27 t ffi� P,a f6 .,- co ck &JIM
28 Robbie Hancock, City Clerk T Dailey, Mayor
29 APPROVED AS TO LEGAL FORM:
30 /l
31 /ti Aw Mt.
32 Thomas M. Carpenter, Chy Attorney
(Rec.1- 3-00.)
•
AGREEMENT
0
795
This Agreement is between the City of Little Rock and the 1 -630 to Arkansas State
Highway 10 Parkway Property Owners Improvement District No. 338 of Pulaski County,
Arkansas.
1. The District has performed all duties, constructed all improvements and retired all
bonds and other indebtedness and desires to transfer its remaining funds, in the approximate
amount of $75,000, to the City of Little Rock, pursuant to Arkansas Code Annotated
§14- 93- 127(a)(2) to be used by the City for the repair and maintenance of the improvements
constructed by the District.
2. The City agrees to accept said transfer of funds, to deposit them into an
appropriate account and to earmark said funds for the repair and maintenance of the
improvements constructed by District 338.
3. By copy of this Agreement to be furnished to Regions Bank, Trustee, the Trustee
is directed to transfer all remaining funds administered by it for District 338 to the City of Little
Rock on December 30, 1999.
DATED: December 29 , 1999.
1 -630 TO ARKANSAS STATE HIGHWAY 10
PARKWAY PROPERTY OWNERS
IMPROVEMENT DISTRICT NO. 338 OF PULASKI
COUNTY, ARKANSAS
S-A
Ron Pearce, Chairman
THE CI F LITTLE R
By
i Dailey, Mayor
144921.0