7531RESOLUTION NO
7,531
sis
A RESOLUTION APPROVING THE ISSUANCE BY
METROCENTRE IMPROVEMENT DISTRICT NO. 1 OF THE
CITY OF LITTLE ROCK, ARKANSAS OF NOT TO EXCEED
$6,300,000 PRINCIPAL AMOUNT OF ITS ADJUSTABLE
TENDER INDUSTRIAL DEVELOPMENT REVENUE BONDS
(LITTLE ROCK NEWSPAPERS, INC PROJECT) SERIES 1985
WHEREAS, the Board of Commissioners of Metrocentre
Improvement District No. 1 of the City of Little Rock, Arkansas
( "District ") has adopted a resolution indicating its intent to
issue not more than $6,300,000 principal amount of the
District's Adjustable Tender Industrial Development Revenue
d L•ttl R ck News a ers Inc Project), Series 1985
Bon s ( r e o P P
( "Bonds "); and
WHEREAS, a Public Hearing has been held by the Board of
Directors of the City of Little Rock, Arkansas (the "City ") on
December 11, 1985, regarding the issuance of the bonds following
publication of Notice of the Public Hearing; 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;
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 $6,300,000
principal amount of its Adjustable Tender Industrial Development
Revenue Bonds (Little Rock Newspapers, Inc. Project), Series
1985, be and the same is hereby approved.
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 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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517
3. That this resolution shall be in effect from and after
its passage and approval.
ADOPTED: December 11, 1985.
APPROVED:
Tom Prince, 'Mayor
ATTEST:
MO l
Janevczech, CitVy Clerk
(SEAL)
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