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RESOLUTION NO. 12,593
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 $2,000,000 IN AGGREGATE PRINCIPAL
6 AMOUNT OF REVENUE BONDS FOR ARKANSAS REPERTORY THEATRE;
7 AFFIRMING THE EXISTENCE OF THE PUBLIC FACILITIES BOARD; AND
8 FOR OTHER PURPOSES.
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10 WHEREAS, a public hearing has been held before the Board of Directors of the City of
11 Little Rock, Arkansas, on this date regarding the issuance of not to exceed $2,000,000 principal
12 amount of revenue bonds by the City of Little Rock, Arkansas Residential Housing and Public
13 Facilities Board following the publication of notice of public hearing in the Arkansas Democrat -
14 Gazette, a newspaper of general circulation in the City, on September 23, 2007; and
15 WHEREAS, the Board of Directors of the City has determined that the public purposes
16 for which the Bonds are to be issued serve a proper need;
17 NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the City of Little
18 Rock, Arkansas, that:
19 Section 1. The issuance of revenue bonds by the City of Little Rock, Arkansas
20 Residential Housing and Public Facilities Board in principal amount not to exceed $2,000,000 for
21 the purpose of financing capital improvement facilities located at 712 -714 State Street (also
22 known as 715 -717 South Izard Street and 870 West Seventh Street), 315 East Sixth Street, and 601
23 Main Street, Little Rock, Arkansas 72201, for use by Arkansas Repertory Theatre for its
24 nonprofit purposes is hereby authorized within the meaning of section 147(f) of the Internal
25 Revenue Code of 1986, as amended, and the Revenue Bond Act of 1987 (Ark. Code Ann. § 19 -9-
26 601 et seq.; Michie Repl. 1998 & Supp. 2007).
27 Section 2. By the adoption of this Resolution, the City has not assumed any direct or
28 indirect financial responsibility for the payment of the bonds.
[PAGE 1 of 2]
Resolution
Approving 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
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Section 3. This Resolution shall be in full force and effect from and after its adoption.
Section 4. 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: October 16, 2007
ATTEST:
Nancy Wood/,City Clerk
APPROVED AS TO LEGAL FORM:
.tA -
Thomas M. Carpenter, City orney
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[PAGE 2 OF 2]
APPROVED:
Mark Stodola, Mayor