11510RESOLUTION NO. 11,510
A RESOLUTION AUTHORIZING THE OFFERING OF UP TO
$14,000,000 OF CITY OF LITTLE ROCK, ARKANSAS CAPITAL
IMPROVEMENT REVENUE BONDS (DOWNTOWN PARKING
PROJECTS) SERIES 2003; AND PROVIDING FOR OTHER MATTERS
IN CONNECTION THEREWITH.
WHEREAS, the City of Little Rock, Arkansas (the "City ") proposes to acquire, construct
and equip a multi -level parking structure and related improvements and Second and Commerce
Streets within the City (the "River Market Parking Project "); and
WHEREAS, the City has determined that it is advantageous to refund its City of Little
Rock, Arkansas Capital Improvement Revenue Bonds (Second and Main Street Parking Project)
Series 1997, the proceeds of which were used to acquire the municipal parking structure located
at Second and Main Streets in the City (the "Refunding "); and
WHEREAS, the City proposes to issue its capital improvement revenue bonds to finance
the cost of the River Market Project, to accomplish the Refunding and to pay costs incident to the
issuance of the its bonds in the maximum principal amount of $14,000,000 (the `Bonds "); and
WHEREAS, Morgan Keegan & Company, Inc., (the "Underwriter ") has been selected by
the City to underwrite the Bonds; and
WHEREAS, Wright, Lindsey & Jennings LLP has been selected by the City to act as
Bond Counsel in connection with the authorization, sale and issuance of the Bonds; and
WHEREAS, the Board of Directors of the City is now prepared to authorize the offering
of the Bonds for sale by the Underwriter.
NOW, THEREFORE, BE IT RESOLVED, by the Board of Directors of the City, as
follows:
Section 1. That the Underwriter is hereby authorize to offer the Bonds for sale
subject to final approval by the Board of Directors of the City.
Section 2. That Wright, Lindsey & Jennings LLP, as Bond Counsel, is hereby
authorized and directed to prepare the Ordinance authorizing the issuance of the Bonds together
with such other documents as may be necessary and appropriate in connection therewith, for
presentation to and consideration by the Board of Directors of the City at its next meeting.
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Section 3
approval.
That this Resolution shall be in full force from and after the date of its
ADOPTED: May 6, 2003
ATTEST:
Nanc} Wood,/City Clerk
APPROVED AS TO FORM:
Thomas M. M. Carpenter
City Attorney
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APPROVED: `
Jim V ley, Mayor
CERTIFICATE
STATE OF ARKANSAS )
COUNTY OF PULASKI )
0
I, Nancy Wood, City Clerk of the City of Little Rock, Arkansas, do hereby certify that the
foregoing is a true and correct copy of Resolution No. _ of the Resolutions of the City,
entitled: A RESOLUTION AUTHORIZING THE OFFERING OF UP TO $14,000,000 OF
CITY OF LITTLE ROCK, ARKANSAS CAPITAL IMPROVEMENT REVENUE BONDS
(DOWNTOWN PARKING PROJECTS) SERIES 2003; AND PROVIDING FOR OTHER
MATTERS IN CONNECTION THEREWITH, adopted 2003.
IN WITNESS WHEREOF, I have hereunto set my hand this _ day of
2003.
Nancy Wood
City Clerk
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