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6970RESOLUTION NO. 6,970 M M M 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. 327 M OI M � M M Ms M M M M M M � 328 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)