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RESOLUTION NO. 11,493
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3 A RESOLUTION TO SET MAY 6, 2003, AS THE DATE
4 FOR A PUBLIC HEARING ON THE ISSUANCE OF
5 AMENDMENT 65 REVENUE BONDS TO BUILD A
6 PARKING GARAGE IN THE RIVER MARKET AREA
7 AND TO REFUND PREVIOUS PARKING BONDS; AND
s FOR OTHER PURPOSES.
9 WHEREAS, the City of Little Rock, Arkansas (the "City') provides facilities for
10 parking in the downtown area; and
11 WHEREAS, the City desires to provide additional parking in the River Market
12 area of downtown by constructing a parking garage (the "Project "); and
13 WHEREAS, the City desires to refund the 1997 Second and Main Parking Garage
14 Revenue Bonds (the "1997 Bonds'; and
15 WHEREAS, the City can finance the Project and the refunding of the 1997 Bonds
16 with the proceeds of parking system revenue bonds which are payable from and
17 secured by revenues of the City's parking system;
18 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
19 THE CITY OF LITTLE ROCK, ARKANSAS:
20 Section 1. On May 6, 2003, at 6:00 p.m., or as soon thereafter as the matter can
21 be heard on the regular call of the agenda, there shall be a public hearing to consider the
22 issuance of up to thirteen million five hundred thousand dollars ($13,500,000) in
23 principal amount of parking system revenue bonds for the purpose of financing the
24 Project and refunding the 1997 Bonds.
[PAGE 1 OF 21
Resolution
Setting May 6, 2003 as the date of a public hearing
on the issuance of parking garage revenue bonds
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1 Section 2. The City Clerk is hereby authorized and directed, with the
2 assistance of Wright, Lindsey and Jennings, as Bond Counsel, to prepare a notice of the
3 public hearing and to have it published at least 10 days in advance of the hearing in a
4 newspaper of general circulation in the City.
5 Section 3. Severability. In the event any title, section, paragraph, item,
6 sentence, clause, phrase, or word of this resolution is declared or adjudged to be invalid
7 or unconstitutional, such declaration or adjudication shall not affect the remaining
8 portions of the resolution which shall remain in full force and effect as if the portion so
9 declared or adjudged invalid or unconstitutional was not originally a part of the
10 resolution.
11 Section 4. Repealer. All laws and parts of laws inconsistent with the
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provisions of this resolution are hereby repealed to the extent of such inconsistency.
ADOPTED: April 15, 2003
ATTEST:
Nancy Woo , City CIA
Assistant City Clerk
APPROVED AS TO LEGAL FORM:
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Thomas M. Carpenter
City Attorney
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H
Resolution
Setting May 6, 3003 as the date of a public hearing
on the issuance of panting garage revenue bonds
[PAGE 2 OF 21
APPROVED: 1
Y� B.