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RESOLUTION NO. 11,280
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3 A RESOLUTION TO APPOINT THE FIRM OF FRIDAY, ELDREDGE &
4 CLARK AS BOND COUNSEL FOR THE PROPOSED ISSUANCE OF CITY
5 OF LITTLE ROCK, ARKANSAS, CAPITAL IMPROVEMENT REVENUE
6 BONDS, SERIES 2002; AND FOR OTHER PURPOSES.
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8 WHEREAS, the City has reviewed and considered means to make the .various City
9 buildings more energy efficient, and after an analysis by Johnson Controls, Inc., done pursuant to
10 the authority granted in Little Rock, Ark., Resolution No. 11,135 (October 2, 2001), it has been
11 determined that with proper conservation measures, equipment and services, such savings can be
12 obtained, and
13 WHEREAS, it has further been determined that the savings in energy costs are sufficient in
14 and of themselves to pay for the equipment needed to provide these improvements, and
15 WHEREAS, the City may issue capital improvement revenue bonds and use the proceeds
16 from these bonds to pay for the cost of this equipment, and
17 WHEREAS, it is necessary for the City to employ recognized bond counsel to assist in the
18 development and issuance of these bonds, and after submission of a Request for Qualifications
19 which was responded to by three different law firms it was determined that the most qualified
20 firm for this particular issue is the Little Rock firm of Friday, Eldredge & Clark, and
21 WHEREAS, pursuant to state law and local ordinance an appropriate agreement has been
22 negotiated with Friday, Eldredge & Clark, so work can begin on the issuance of up to $7,500,000
23 Capital Improvement Bonds, Series 2002; and
24 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
25 CITY OF LITTLE ROCK, ARKANSAS:
[PAGE 1 OF 2]
Resolution
Selection of Bond Counsel for energy conservation bonds
(Johnson Controls)
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1 Section 1. The City Manager is hereby authorized to enter into an agreement with the
2 firm of Friday, Eldredge & Clark to act as bond counsel for the City of Little Rock Capital
3 Improvement Bonds, Series 2002.
4 Section 2. While other costs which may be reimbursed from the proceeds of the bond
5 issue contemplated in this resolution may be identified at a later time, the City specifically
6 authorizes pursuant to state and federal law that the legal costs for the issuance of these bonds will
7 be reimbursed from, or will be otherwise paid as a part of, the proceeds of the bond issue.
8 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause,
9 phrase, or word of this resolution is declared or adjudged to be invalid or unconstitutional, such
10 declaration or adjudication shall not affect the remaining portions of the resolution which shall
11 remain in full force and effect as if the portion so declared or adjudged invalid or unconstitutional
12 was not originally a part of the resolution.
13 Section 4. Repealer. All resolutions, bylaws, and other matters inconsistent with this
14 resolution are hereby repealed to the extent of such inconsistency.
15 ADOPTED: May 7, 2002
16 ATTEST: APPROVED:
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18 7ZAawe4l 64Z'�l 94� 0-46W-1
19 Na cy Woo , City Clerk Jim 6ailey, Mayor
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21 APPROVED AS TO LEGAL FORM:
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24 Thomas M. Carpenter, City Attorney
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Resolution
Selection of Bond Counsel for energy conservation bonds
(Johnson Controls)