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R INANCENO. 16,820 • 704
AN ORDINANCE APPROPRIATING FUNDS FOR EXPENSES
INCURRED TO PREPARE FOR A REFUNDING AND CAPITAL
IMPROVEMENT BOND ISSUE.
WHEREAS, the Board of Directors previously appointed co -bond counsel,
financial advisor, and underwriters for a refunding and capital improvement bond issue
authorized at a special election on October 11, 1994; and
WHEREAS, Resolution No. 9,260 authorized the City Treasurer and the
appointed professionals to take such actions and prepare such documentation as
appropriate to provide for the sale of the proposed bonds; and
WHEREAS, market conditions have not yet allowed the issuance of the bonds in
a manner that would accomplish the objectives of the financing, yet certain expenses
have been incurred in preparation for the bond issue that will be reimbursed upon
issuance, and funds are available to pay these expenses in a special project.
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS:
SECTION 1. The sum of $33,000 is hereby appropriated from special project
210 -111 -8184 for payment of expenses incurred to prepare for a refunding and capital
improvement bond issue, and the City Treasurer is hereby authorized to pay such
expenses. Upon the issuance of the bonds, the special project will be reimbursed for
these expenses.
PASSED: December 20, 1994
ATTEST:
APPROVED AS TO FORM:
TH(JMAS M. FER'�
CITY ATTORNEY
APPROVED:
'fir /ill
<9-79
E i,