163661
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• ORDINANCE NO. 16,366 • 85
AN ORDINANCE AUTHORIZING THE CITY
MANAGER TO APPROPRIATE $384,158 FROM
THE UNAPPROPRIATED FUND BALANCE OF
THE ECONOMIC DEVELOPMENT FUND FOR
IMPROVEMENTS TO RODNEY PARHAM ROAD
BETWEEN WOODLAND HEIGHTS ROAD AND
CANTRELL ROAD.
WHEREAS, Systematics, Inc., one of the world's leaders in
data processing for financial institutions, is headquartered in
Little Rock; and
WHEREAS, Systematics' $20 million project will add
180,000 sq. ft. of floor space and will increase their Little
Rock employment by 50% in the next five years, from the present
1,050 persons to 1,550 persons; and
WHEREAS, the expansion of the Systematics, Inc., complex
will increase traffic congestion on Rodney Parham Road; and
WHEREAS, a traffic engineering study has been prepared
which recommends widening Rodney Parham Road from the present
four lanes, to five and six lanes, between Woodland Heights Road
and Cantrell Road; and
WHEREAS, the study also recommends installation of a
traffic signal on Rodney Parham road, at the entrance to the
Systematics complex; and
WHEREAS, Systematics has agreed to contribute $70,000 for
the cost of the traffic signal with the remainder of the cost to
be paid from the City's Economic Development Fund.
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF DIRECTORS
OF THE CITY OF LITTLE ROCK, ARKANSAS:
SECTION 1. There is hereby appropriated the sum of
$384,158 from the unappropriated fund balance of the Economic
Development Fund to fund improvements to Rodney Parham Road
between Woodland Heights Road and Cantrell Road.
0'0Z
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86
PASSED: February 16, 1993
ATTEST: