7501A RESOLUTION REVIEWING AND ACCEPTING THE
AMENDMENT TO AMENDED AND SUBSTITUTED PLAN
OF IMPROVEMENT OF METROCENTRE IMPROVEMENT
DISTRICT NO. 1 OF THE CITY OF LITTLE ROCK,
ARKANSAS
WHEREAS, Metrocentre Improvement District No. 1 of the
City of Little Rock, Arkansas (the "District ") has previously
presented to the Board of Directors of the City of Little Rock,
Arkansas (the "Board ") its Amended and Substituted Plan of
Improvement, filed and dated May 1976 (the "Amended and
Substituted Plan of Improvement "); and
WHEREAS, the City of Little Rock, Arkansas (the "City "),
the Little Rock Municipal Parking Authority and the District
have entered into a Memorandum of Intent, dated August 7, 1985
(the "Memorandum of Intent "), by which the parties agreed that
the District would finance, construct and operate certain
public parking facilities on sites to be leased from the City;
and
WHEREAS, pursuant to the Memorandum of Intent, the Board
has authorized the execution and delivery of a ground lease
between the City and the District, leasing sites for the
parking facilities to be constructed by the District; and
WHEREAS, the District now presents for the review and
acceptance of this Board an Amendment to Amended and
Substituted Plan of Improvement, which Amendment authorizes the
)1-l�
H -/3
i
RESOLUTION NO.
7,501
460
A RESOLUTION REVIEWING AND ACCEPTING THE
AMENDMENT TO AMENDED AND SUBSTITUTED PLAN
OF IMPROVEMENT OF METROCENTRE IMPROVEMENT
DISTRICT NO. 1 OF THE CITY OF LITTLE ROCK,
ARKANSAS
WHEREAS, Metrocentre Improvement District No. 1 of the
City of Little Rock, Arkansas (the "District ") has previously
presented to the Board of Directors of the City of Little Rock,
Arkansas (the "Board ") its Amended and Substituted Plan of
Improvement, filed and dated May 1976 (the "Amended and
Substituted Plan of Improvement "); and
WHEREAS, the City of Little Rock, Arkansas (the "City "),
the Little Rock Municipal Parking Authority and the District
have entered into a Memorandum of Intent, dated August 7, 1985
(the "Memorandum of Intent "), by which the parties agreed that
the District would finance, construct and operate certain
public parking facilities on sites to be leased from the City;
and
WHEREAS, pursuant to the Memorandum of Intent, the Board
has authorized the execution and delivery of a ground lease
between the City and the District, leasing sites for the
parking facilities to be constructed by the District; and
WHEREAS, the District now presents for the review and
acceptance of this Board an Amendment to Amended and
Substituted Plan of Improvement, which Amendment authorizes the
)1-l�
H -/3
District to construct two multi -story parking decks upon the
sites leased from the City and to take other actions related
thereto;
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors
of the City of Little Rock, Arkansas:
Section 1. That the District's Amendment to Amended and
Substituted Plan of Improvement, having been received by the
Board and reviewed by the staff of the City, is deemed
consistent with the terms of the Memorandum of Intent and is
hereby found to be acceptable to the City.
Section 2. That this Resolution shall be in full force
and effect from and after its adoption.
ADOPTED: November 19 , 1985.
ATTEST:
Ci Clerk Jang Czech
(SEAL)
1835M
APPROVED:
Mayor ThTas . Prince
`A
461