6970RESOLUTION NO. 6,970
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A RESOLUTION APPROVING THE ISSUANCE BY METROCENTRE
IMPROVEMENT DISTRICT NO. 1 OF THE CITY OF LITTLE
ROCK, ARKANSAS, OF ITS $4,200,000 REVENUE BONDS
(CAPITOL CENTER PROJECT), FIRSTSOUTH FEDERAL SAVINGS
AND LOAN ASSOCIATION - SERIES 1983
WHEREAS, the Board of Commissioners of Metrocentre
Improvement District No. 1 of the City of Little Rock, Arkansas
(the "District ") has approved the issuance of the District's
$4,200,000 Revenue Bonds (Capitol Center Project), FirstSouth
Federal Savings and Loan Association - Series 1983 (the
"Bonds "), following a public hearing on the question of the
issuance of the Bonds held on April 1, 1983; and
WHEREAS, pursuant to the provisions of the Tax Equity and
Fiscal Responsibility Act of 1983 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 its $4,200,000
Revenue Bonds (Capitol Center Project), FirstSouth Federal
Savings and Loan Association - Series 1983, 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 1983, 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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3. That this Resolution shall be in effect from and after
its passage and approval.
Adopted: April 5, 1983.
APPROVED:
J. W. Benarie%ia, IvMyor
ATTEST:
JanOl Czech, y Clerk
(S E A L)