11171ShESOLUTION NO. 11,171
A RESOLUTION OF INTENT REGARDING
THE WASTE DISPOSAL IMPROVEMENT
PROJECT.
WHEREAS, the City of Little Rock, Arkansas (the "City ") owns a sanitary landfill
(the "Landfill ") and proposes to develop cell number four at the Landfill and to acquire waste
disposal and collection equipment (the "Project "); and
WHEREAS, in order to finance all or a portion of the costs of the Project, the City
proposes to issue waste disposal revenue bonds in the maximum aggregate principal amount of
$12,300,000 (the "Bonds "); and
WHEREAS, the Bonds will be payable from and secured by revenues of the City's
waste disposal and collection system; and
WHEREAS, the purpose of this Resolution is for the City to declare its "official
intent" for the reimbursement of certain expenditures from the proceeds of the Bonds, within the
meaning of Regulation No. 1.150 -2 promulgated by the United States Treasury Department (the
"Regulation ");
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS
OF THE CITY OF LITTLE ROCK, ARKANSAS:
Section 1. The City hereby expresses its official intent under the Regulation to
advance its own funds to pay the costs of the Project prior to the issuance of the Bonds and to
reimburse itself from Bond proceeds for such expenditures.
Section 2. Proceeds of the Bonds will be applied to reimburse the City for any
expenditures made before Bonds are issued within eighteen (18) months after the later of(a) the date
of the expenditure or (b) the date the Project is placed in service and, in any event, within three (3)
years after the date of the expenditure.
ADOPTED: December 4, 2001
ATTEST:
APPROVED:
/ lJ
*41A /QO-�-"
N 1 Y W661) 410 DAILEY
CITY CLERK IWAYOR
APPROVED AS TO FORM:
THOMAS M. CARPENTER
CITY ATTORNEY