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110491 RESOLUTION NO. 11,049 2 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. 9 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. 1 2 3 4 5 6 7 8 9 to 11 12 13 19 15 16 17 18 19 20 .y 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 nW�:ln" �44 MAY0"M DAILEY