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RESOLUTION NO. 7,508
A RESOLUTION APPROVING THE ISSUANCE BY METROCENTRE
IMPROVEMENT DISTRICT NO. 1 OF THE CITY OF LITTLE ROCK,
ARKANSAS, OF NOT TO EXCEED $4,000,000 PRINCIPAL AMOUNT
OF ITS REVENUE BONDS (ROSE FIRM BUILDING PROJECT),
SERIES 1985
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WHEREAS, Metrocentre Improvement District No. 1 of the City
of Little Rock, Arkansas (the "District ") has adopted a
resolution indicating its intent to issue not more than
$4,000,000 principal amount of the District's Revenue Bonds
(Rose Firm Building Project), Series 1985 (the "Bonds "), for the
purpose of providing permanent financing for the acquisition,
construction, and equipping of an office facility (the
"Project ") to be located 120 East Fourth Street, in the City of
Little Rock, Arkansas, by Third Street Corporation; and
WHEREAS, a public hearing has been held before the Board of
Directors of the City of Little Rock, Arkansas on this date,
regarding the issuance of the Bonds following publication of
notice of the public hearing in the Arkansas Democrat on
November 4, 1985; and
WHEREAS, pursuant to the provisions of the Tax Equity and
Fiscal Responsibility Act of 1982, it is necessary for federal
income taxation purposes that the issuance of the Bonds be
approved by the Board of Directors of the City of Little Rock,
Arkansas; and
WHEREAS, the Board of Directors of the City of Little Rock,
Arkansas, has determined that the public purposes for which the
Bonds are to be issued serve a proper need; and
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS:
1. That the issuance by the District of not to exceed
$4,000,000 principal amount of its Revenue Bonds (Rose Firm
Building Project), Series 1985, be and the same is hereby
approved within the meaning of Section 103(k) of the Internal
Revenue Code of 1954, as amended.
2. That this Resolution is adopted solely for the purpose
of complying with the provisions of the Tax Equity and Fiscal
Responsibility Act of 1982, and that by the adoption of this
Resolution the City of Little Rock has not assumed any direct or
indirect financial responsibility for the payment of the Bonds.
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3. That this Resolution shall be in effect from and after 470
its passage and approval.
ADOPTED: November 19, 1985.
APPROVED:
Mayor Thomas A. Prince `
ATTEST:
City Cl rk Jane Czech
[S E A L]
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