14295-
ORDINANCE NO. 14,295
AN ORDINANCE AMENDING ORDINANCE NO. 14,048;
PRESCRIBING OTHER MATTERS RELATING THERETO;
AND DECLARING AN EMERGENCY.
WHEREAS, the City of Little Rock, Arkansas (the "City") on
June 2, 1981, by Ordinance No. 14,048, established a public
facilities board for the purpose of providing financing for
housing facilities for elderly persons, pursuant to the
provisions of Act No. 142 of the Acts of Arkansas for the year
1975, as amended; and
WHEREAS, Ordinance No. 14,048 provided only for the
financing of one specific project and there is an immediate and
urgent need, as set forth in this Ordinance, for more housing
for elderly persons, with related facilities to serve the needs
of elderly persons, in the City and the surrounding area.
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF DIRECTORS
OF THE CITY OF LITTLE ROCK, ARKANSAS:
SECTION 1. AMndmtnta. Ordinance No. 14,048 is hereby
amended as follows:
(a) Section 1, paragraphs (1) and (4) are hereby amended
as follows:
(1) There is an immediate and urgent need in the City of
Little Rock and the surrounding area for housing which,
together with health care and other services and facilities, is
designed and operated to serve the requirements of elderly
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persons.
(4) Projects must be owned by or leased to a not -for-
profit corporation (in fact, corporations qualified as ones for
charitable or religious purposes under Section 501(c)(3) of the
Internal Revenue Code). Projects financed through this Board
will be available to elderly persons without regard to
religious preference. There will be no discrimination in the
operation of projects financed through this Board with regard
to tenants or employees (or applicants for tenancy or
employment) , on the basis of race, sex, color, religion or
national origin.
(b) Section 2 is hereby amended to read as follows:
Pursuant to the authority of the Act, there is hereby
created and established the "City of Little Rock, Arkansas
Elderly Housing Facilities Board" (hereinafter referred to as
the "Board ") with authority as hereinafter provided to
accomplish, finance, contract and make or purchase mortgage
loans concerning, and otherwise act in such manner as may be
permitted by the Act to provide residential housing facilities
for elderly persons, with related facilities, within or near
the City.
(c) Section 4 is hereby amended to read as follows:
The Board is empowered, from time to time, to acquire,
construct, reconstruct, extend, equip, improve, sell, lease,
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loan concerning and contract concerning housing facilities for
elderly persons, and facilities related thereto, as shall be
determined by the Board to be necessary to effect the purposes
of Ordinance No. 14,048 and this Ordinance, particularly
residential centers with related facilities. Projects must be
owned by or leased to not - for - profit corporations (in fact,
corporations qualified as ones for charitable or religious
purposes under Section 501(c)(3) of the Internal Revenue Code).
All projects financed through this Board will be available to
elderly persons without regard to religious preference. There
will be no discrimination in the operation of any projects
financed through this Board, with regard to tenants or
employees (or applicants for tenancy or employment), on the
basis of race, sex, color, religion or national origin.
In addition, the Board shall have each of the powers set
forth in Section 7 of the Act, as amended, and appropriate to
the purposes for which the Board is created. The Board may
enter into such contractual or cooperative agreements with
such persons as may, in its discretion, be advisable to
accomplish the purposes of this Ordinance, including without
limitation, departments agencies or instrumentalities of the
United States of America, the State of Arkansas, or the
city, g�g., the Department of Housing and Urban Development,
the Federal Housing Administration, the Arkansas Housing
Development Agency and the Little Rock Housing Authority.
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(d) Section 5 is hereby amended to read as follows:
Without limiting the generality of the foregoing, the
Board is authorized to issue revenue bonds, from time to time,
and to use the proceeds, either alone or together with other
available funds and revenues, to accomplish the purposes for
which the Board is created. Such revenue bonds shall be
obligations only of the Board and shall not constitute an
indebtedness for which the faith and credit of the City or any
of its revenues are pledged, and the principal and interest on
the bonds shall be payable from and secured by a pledge of
revenues derived from the projects and as authorized by, and in
accordance with the provisions of the Act, together with such
other collateral as may properly be pledged under the Act and
as the Board in its discretion may determine. Issuance of any
bonds by the Board subsequent to issuance of the bonds to
finance the Christian Retirement Center, Inc. Project, (The
issuance of which bonds were approved by the Board of Directors
of the City on June 2, 1981) shall be subject to prior approval
of the Board of Directors of the City.
SECTION 2. SeyQ1 .ah3l3 -t y• If any provision of this
Ordinance or the application thereof to any person or
circumstance is held invalid, such invalidity shall not affect
the other provisions or applications of this Ordinance which
can be given effect without the invalid provision or
application, and to this end the provisions of this Ordinance
r ...� r■ �r r r r r r
are declared to be severable.
r it r r r
SECTION 3. Qznjeral jeoeaj. All Ordinances of the City,
or parts thereof, in conflict with this Ordinance are hereby
repealed to the extent of such conflict.
SECTION 4. B .4 - ,iIi .C.Ati4Il. Ordinance No. 14,0481 as
amended, is hereby ratified and confirmed.
SECTION 5. BlgjeYgLencv. It is hereby found and determined
that there is an immediate and urgent need for the providing of
housing for elderly persons in and near the City and that the
providing of financial assistance toward the development of
such housing is essential to the timely development of such
housing. The amendment of Ordinance No. 14,048 and the
exercise of the duties and powers provided in this Ordinance is
necessary to the preservation of the public peace, health and
safety. Therefore, an emergency is declared to exist and this
Ordinance shall be in effect from and after its passage and
approval.
PASSED: August _LL, 1982
APPROVED:
Mayor
ATTEST:
C CI'
City Clerk
(SEAL)
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