110491 RESOLUTION NO. 11,049
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3 A RESOLUTION AUTHORIZING THE MAYOR AND CITY MANAGER
4 OF THE CITY TO PROCEED WITH MATTERS PRELIMINARY TO THE
5 ISSUANCE OF GENERAL OBLIGATION LIMITED TAX REFUNDING
6 BONDS; APPROVING THE PREPARATION AND DELIVERY OF A
7 PRELIMINARY OFFICIAL STATEMENT; AND SETTING FORTH
8 OTHER MATTERS PERTAINING TO THE REFUNDING BONDS.
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10 WHEREAS, the City of Little Rock, Arkansas previously issued its $15,400,000 Capital
11 Improvement Refunding Bonds, Series 1995A, and $29,910,000 Capital Improvement Bonds,
12 Series 199513; and
13 WHEREAS, the City has determined that interest savings can be achieved by refunding the
14 outstanding Series 1995A and Series 1995B Bonds;
15 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
16 CITY OF LITTLE ROCK, ARKANSAS:
17 Section 1. The Mayor and City Manager are authorized to take such preliminary actions as are
18 determined by them to be necessary for the marketing of the City's General Obligation Limited Tax
19 Refunding Bonds in order to provide sufficient funds to accomplish the refunding of the City's
20 outstanding Capital Improvement Refunding Bonds, Series 1995A, and Capital Improvement
21 Bonds, Series 1995B. At such time as the Mayor and City Manager may determine to be in the best
22 interests of the City, the authorization, issuance, and sale of the Refunding Bonds shall be
23 submitted for approval by the Board of Directors by ordinance.
24 Section 2. The Board of Directors approves the preparation of a Preliminary Official Statement
25 and the distribution of the Preliminary Official Statement to prospective purchasers of the
26 Refunding Bonds. The Mayor and the City Manager are authorized and directed to cause the
27 Preliminary Official Statement to be delivered for and in the name of the City, with such provisions
28 therein as shall be approved by such officers, either of whom is authorized to execute and deliver to
29 Stephens Inc., as Underwriter, a certificate to the effect that the Preliminary Official Statement is
30 deemed final for the purposes of Securities and Exchange Commission Rule 15c2 -12.
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Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase,
or word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration
or adjudication shall not affect the remaining portions of the resolution which shall remain in full
force and effect as if the portion so declared or adjudged invalid or unconstitutional was not
originally a part of the resolution.
Section 4. Repealer. All laws and parts of laws inconsistent with the provisions of this
resolution are hereby repealed to the extent of such inconsistency.
PASSED: April 17, 2001
ATTEST:
NANCY W0/01), CITY CLERK
APPROVED AS TO LEGAL FORM:
THOMAS M. CARPENTERJ
CITY ATTORNEY
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MAY0"M DAILEY