12500RESOLUTION NO. 12,500
A RESOLUTION AUTHORIZING THE OFFERING OF UP TO
$67,000,000 OF CITY OR LITTLE ROCK, ARKANSAS SEWER
CONSTRUCTION REVENUE BONDS, SERIES 2007A; AND PROVIDING
FOR OTHER MATTERS IN CONNECTION THEREWITH.
WHEREAS, the City of Little Rock, Arkansas (the "City ")
proposes to authorize the acquisition, construction and equipping
of certain betterments and improvements (the "Improvements ") to the
City's municipal sewer system (the "System "); and
WHEREAS, the City proposes to issue it Sewer Construction
Revenue Bonds, Series 2007A, in maximum principal amount not to
exceed $67,000,000 (the "Bonds ") in order to finance a portion of
the costs of the Improvements, to fund a debt service reserve, and
to pay costs incident to the issuance of the Bonds; and
WHEREAS, Morgan Keegan & Company, Inc. and Crews & Associates,
Inc. (the "Underwriters ") have been selected to underwrite the
Bonds; and
WHEREAS, Kutak Rock LLP has been selected to act as Bond
Counsel in connection with the authorization, sale and issuance of
the Bonds; and
WHEREAS, the Board of Directors of the City is now prepared to
authorize the offering of the Bonds for sale by the Underwriters;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS:
Section 1. That the Underwriters are hereby authorized to
offer the Bonds for sale and the Mayor is hereby authorized to
execute the Bond Purchase Agreement in substantially the form
presented to this meeting of the Board of Directors, subject to
final approval of an ordinance by the Board of Directors of the
City authorizing the issuance of the Bonds.
Section 2. The Kutak Rock LLP, as Bond Counsel, is hereby
authorized and directed to prepare the Ordinance authorizing the
issuance of the Bonds, together with such other documents as may be
necessary and appropriate in connection therewith, for presentation
to and consideration by the Board of Directors at its next meeting.
Section 3. That this Resolution shall be in full force and
effect from and after the date of its approval.
ADOPTED: April 17, 2007.
ATTEST:
APPROVED:
Na y WooVC ity Clerk Mark StodBla, ayor
APPROVED AS TO LEGAL FORM:
Thomas M. Carpenter, City Attorney