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RESOLUTION NO. 7,152
A RESOLUTION ESTABLISHING A POLICY 55
OF THE CITY OF LITTLE ROCK BOARD OF
DIRECTORS CONCERNING APPROVAL OF
INDUSTRIAL DEVELOPMENT REVENUE BOND
ISSUES.
WHEREAS, industrial development revenue bonds have
become an important source of funding for industrial
development projects in Little Rock; and
WHEREAS, issues of public concern such as platting,
zoning, traffic circulation, parking, utility relocation and
floodplain management are often involved in these industrial
development projects; and
WHEREAS, Act 9 bonds are issued in the name of and
administered by the City of Little Rock.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF
DIRECTORS OF THE CITY OF LITTLE ROCK, ARKANSAS.
SECTION 1. The City Board of Directors hereby formally
incorporates into the industrial development revenue bond
approval process the requirement that applicants, following
the issuance of a Memorandum of Intent and prior to final
approval of the issuance of bonds, shall submit all
available development particulars to the Director of
Finance.
SECTION 2. The Director of Finance shall forward the
information provided to the Office of Comprehensive
Planning. The Office of Comprehensive Planning shall
coordinate an internal staff review of all applications
involving Public works, Parks and other City departments as
necessary.
SECTION 3. The Office of Comprehensive Planning shall
prepare and submit a report regarding the development issues
to the Board of Directors for their consideration prior to
the issuance of the bonds.
SECTION 4. This resolution shall be in full force and
effect from and after its adoption.
ADOPTED: February 21, 1984
ATTEST: APPROVED:
i erc Czech Mayor J. . Be field
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