7151RESOLUTION NO. 7,151
me M M M M
A RESOLUTION APPROVING THE ISSUANCE BY THE CITY OF LITTLE
ROCK, ARKANSAS RESIDENTIAL HOUSING FACILITIES BOARD OF NOT
TO EXCEED $1,100,000 PRINCIPAL AMOUNT OF ITS MULTIFAMILY
MORTGAGE REVENUE BONDS, SERIES 1984 (PARHAM VIEW PROJECT)
WHEREAS, the City of Little Rock, Arkansas Residential
Housing Facilities Board (the "Board ") has adopted a resolution
indicating its intent to issue not more than $1,100,000
principal amount of the Board's Mortgage Revenue Bonds (Parham
View Project) ( "Bonds ") for the purpose of acquiring lands and
the construction and equipping of a 36 -unit apartment project
(the "Project ") located at 5th Street and Rodney Parham Road,
in the City of Little Rock, Arkansas, by Chester D. Phillips;
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 Gazette on
February 4 and February 11, 1984; 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
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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 Board of not to exceed
$1,100,000 principal amount of its Mortgage Revenue Bonds
(Parham View Project), be and the same is hereby approved
within the meaning of Section 103(k) of the Internal Revenue
Code of 1954, as amended.
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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.
3. That this Resolution shall be in effect from and after
its passage and approval.
ADOPTED: February 21, 1984.
APPROVED:
J. W. Benatie1a, id yor
ATTEST:
Ja IV Czech, ty Clerk
(S E A L)
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