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125721 2 RESOLUTION NO. 12,572 3 A RESOLUTION TO SET OCTOBER 16, 2007, AS THE DATE FOR A PUBLIC 4 HEARING ON THE ISSUANCE OF UP TO TWO MILLION DOLLARS 5 ($2,000,000) IN REVENUE BONDS FOR ARKANSAS REPERTORY THEATRE 6 BY THE CITY OF LITTLE ROCK, ARKANSAS RESIDENTIAL HOUSING AND 7 PUBLIC FACILITIES BOARD; AND FOR OTHER PURPOSES. 8 9 WHEREAS, the Public Facilities Boards Act (Ark. Code Ann. § 14- 137 -101 et seq., Michie 10 Repl. 1998 & Supp. 2007) permits public facilities boards to issue revenue bonds for the purpose 11 of financing public projects; and 12 WHEREAS, Arkansas Repertory Theatre has proposed the issuance of up to Two 13 Million Dollars ($2,000,000) in revenue bonds by the City of Little Rock, Arkansas Residential 14 Housing and Public Facilities Board for the purpose of financing capital improvement facilities 15 located at 712 -714 State Street (also known as 715 -717 South Izard Street and 870 West Seventh 16 Street), 315 East Sixth Street, and 601 Main Street, Little Rock, Arkansas 72201, for use by 17 Arkansas Repertory Theatre for its nonprofit purposes; and 18 WHEREAS, section 147(f) of the Internal Revenue Code of 1986, as amended, and 19 Revenue Bond Act of 1987 (Ark. Code Ann. § 19 -9 -601 et seq.; Michie Repl. 1998 & Supp. 2007) 20 requires public approval by the governmental unit on behalf of which bonds are issued, 21 following a public hearing for which reasonable public notice was provided; 22 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE 23 CITY OF LITTLE ROCK, ARKANSAS: 24 Section 1. A public hearing on the question of issuance of up to Two Million Dollars 25 ($2,000,000) of revenue bonds by the City of Little Rock, Arkansas Residential Housing and 26 Public Facilities Board to be used for the purpose of financing capital improvement facilities 27 located at 712 -714 State Street (also known as 715 -717 South Izard Street and 870 West Seventh 28 Street), 315 East Sixth Street, and 601 Main Street, Little Rock, Arkansas 72201, for use by [PAGE 1 OF 21 Resolution Setting a public hearing on the issuance of up to $2,000,000 of revenue bonds for Arkansas Repertory Theatre by the Little Rock Residential Housing and Public Facilities Board 1 2 91 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Arkansas Repertory Theatre for its nonprofit purposes, shall be held at 6:00 P.M., or as soon as the item can be dealt with on the regular agenda of the Board of Directors, on Tuesday, October 16, 2007, during the regular meeting of the Little Rock Board of Directors in the Board Meeting Room on the second floor of City Hall, 500 West Markham, Little Rock, Arkansas, and all persons who wish to be heard on this issue shall be given the opportunity to comment. Section 2. At the conclusion of the public hearing, the Board of Directors may act to adopt, modify, or amend a resolution to authorize the issuance of the bonds referred to in Section 1 by the Public Facilities Board. ADOPTED: September 18, 2007 ATTEST: APPROVED: 4", j &,A/ Na ki S. Blocker, Assistant City Clerk For Nancy Wood, City Clerk APPROVED AS TO LEGAL FORM: Thomas M. Carpenter, City ttorney // // // // // // // H // H [PAGE 2 OF 2] Mark Stodola, Mayor