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RESOLUTION NO. 12,536
3 A RESOLUTION APPROVING THE ISSUANCE BY THE CITY OF LITTLE
4 ROCK, ARKANSAS RESIDENTIAL HOUSING AND PUBLIC FACILITIES
5 BOARD OF NOT TO EXCEED $3,000,000 IN AGGREGATE PRINCIPAL
6 AMOUNT OF REVENUE BONDS FOR THE CENTRAL ARKANSAS
7 LIBRARY SYSTEM; AFFIRMING THE EXISTENCE OF THE PUBLIC
8 FACILITIES BOARD; REAPPOINTING MEMBERS OF THE PUBLIC
9 FACILITIES BOARD; AND FOR OTHER PURPOSES.
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11 WHEREAS, a public hearing has been held before the Board of Directors of the City of
12 Little Rock, Arkansas, on this date regarding the issuance of not to exceed $3,000,000 principal
13 amount of revenue bonds by the City of Little Rock, Arkansas Residential Housing and Public
14 Facilities Board following the publication of notice of public hearing in the Arkansas Democrat -
15 Gazette, a newspaper of general circulation in the City, on June 2007; and
16 WHEREAS, the Board of Directors of the City has determined that the public purposes
17 for which the Bonds are to be issued serve a proper need;
18 NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the City of Little
19 Rock, Arkansas, that:
20 Section 1. The issuance of revenue bonds by the City of Little Rock, Arkansas
21 Residential Housing and Public Facilities Board in principal amount not to exceed $3,000,000 for
22 the purpose of financing capital improvement facilities located at 405 - 409 -411 President Clinton
23 Avenue, Little Rock, Arkansas 72201, for use by Central Arkansas Library System for library
24 and other public purposes is hereby authorized within the meaning of the Revenue Bond Act of
25 1987 (Ark. Code Ann. § 19 -9 -601 et seq.; Michie Repl. 1998 & Supp. 2005).
26 Section 2. By the adoption of this Resolution, the City has not assumed any direct or
27 indirect financial responsibility for the payment of the bonds.
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Resolution
Approving the issuance of up to $3,000,000 of revenue bonds for
Central Arkansas Library System by the Little Rock Residential
Housing and Public Facilities Board and affirming the existence of
the Public Facilities Board and reappointing its members
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Section 3. The City hereby confirms the due creation, organization, and existence of the
Issuer pursuant to the Public Facilities Boards Act, Ark. Code Ann. § 14- 137 -101 et seq. (Michie
Repl. 1998 & Supp. 2005), and Ordinance No. 13,528 of the City, as amended and supplemented
by Ordinances No. 13,838, No. 14,068, and No. 15,501, and the due appointment and expiration
of terms of the members of the Issuer, as follows: E. Ralph Cotham, IV, November 7, 2008, and
Cora D. McHenry, November 7, 2009. The City hereby reappoints Susan Burnside Fleming as a
member of the Issuer with a term expiring November 7, 2010 and Michael M. Watts with a term
expiring November 7, 2011.
Section 4. This Resolution shall be in full force and effect from and after its adoption.
Section 5. Severability. In the event any title, section, paragraph, item, sentence, clause,
phrase, or word of this resolution is declared or adjudged to be invalid or unconstitutional, such
declaration or adjudication shall not affect the remaining portions of the resolution which shall
remain in full force and effect as if the portion so declared or adjudged invalid or
unconstitutional was not originally a part of the resolution.
ADOPTED: June 19, 2007
ATTEST:
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a J ait,
Nat ki S. Blocker, Assistant City Clerk
For Nancy Wood, City Clerk
22 APPROVED AS TO LEGAL FORM:
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25 Thomas M. Carpenter, City AttUney
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APPROVED:
Mark S odola, Mayor