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ORDINANCE NO. 15,862
AN ORDINANCE TO APPROPRIATE
$100,000 FROM THE ECONOMIC
DEVELOPMENT FUND FOR PURPOSES OF A
CONTRACT BETWEEN THE GREATER LITTLE
ROCK CHAMBER OF COMMERCE AND THE
CITY OF LITTLE ROCK FOR THE
PROMOTION OF ECONOMIC DEVELOPMENT
WITHIN THE CITY; TO WAIVE
COMPETITIVE BIDDING; TO DECLARE AN
EMERGENCY; AND FOR OTHER PURPOSES.
WHEREAS, the Greater Little Rock Chamber of Commerce has
received funds from Fifty For the Future, the Doubleday
Foundation, and others to be used as matching monies for the
purpose of promoting economic development within the City of
Little Rock; and
WHEREAS, these funds can be used only to match on a $2
for $1 basis funds provided by the City of Little Rock for the
purpose of promoting economic development; and
WHEREAS, the lack of such matching funds from similar
foundations for the express purpose of economic development
makes it impractical and unfeasible to competitively bid for the
contractual aspects of any agreement between the City and the
Greater Little Rock Chamber of Commerce.
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF DIRECTORS
OF THE CITY OF LITTLE ROCK, ARKANSAS:
SECTION 1. The sum of $100,000 is hereby appropriated
from the Economic Development Fund to be used as the City's
portion of a contract between the Greater Little Rock Chamber of
Commerce and the City of Little Rock.
SECTION 2. The City Manager is authorized to enter into a
contractual agreement with the Greater Little Rock Chamber of
Commerce for the purpose of promoting economic development
provided that the City will provide no more than $100,000 to the
contract and that this $100,000 must be matched on the $2 for $1
basis by the Greater Little Rock Chamber of Commerce.
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SECTION 3. Because .__the City has an opportunity of
obtaining these economic developments through the Greater Little
Rock Chamber of Commerce and in doing so have its money matched
on a $2 for $1 basis by funds provided from Fifty for the Future
and the Doubleday Foundation, the Board of Directors finds that
it is impractical and unfeasible to competitively bid for the
services and products to be included in the contract.
SECTION 4. Emergency Clause. The Board of Directors have
declared that the promotion of economic development and the
increase in jobs in the City of Little Rock is a matter
essential for the public health, safety and welfare of the
citizens in order to ensure a proper growth and the tax base and
to provide opportunities to the citizens of Little Rock. The
present contract for the promotion of economic Development
between the Chamber and the City has already expired and the
need to maintain the momentum for economic development is at
risk. Therefore, an emergency is declared to exist and this
ordinance shall be effective from the date of its passage.
PASSED: May 1, 1990
7 pill. R�I CZECH
7
APPROVED:
„
41-WA .
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