07-15-92(NOTE: Time
of meeting was changed from 1:30 P.M. until 2:30
P.M. due to
funeral of
Ex -State Senator Doug
Brandon; then
delayed until
3:05 because
only four Directors were
present.)
Board of Directors Room
Little Rock, Arkansas
July 15, 1992 - 3:05 P.M.
- The Board of Directors of the City of Little Rock, Arkansas
reconvened from the regular meeting held July 7, 1992, with Mayor
Priest presiding. City Clerk Robbie Hancock called the roll with
the following Directors present: Directors Hollingsworth,
Lewellen and Dailey - total 3; Absent - Directors Roy,
Shackelford and Catlett - total 3.
Mayor Priest announced that a quorum was present and the
proceedings of the meeting are recorded as follow.
A public hearing had been scheduled for this time and place
by Resolution No. 8,737 and notice thereof published on July 4,
1992, on the question of adoption of an Ordinance authorizing the
issuance of not to exceed $25,000,000 Industrial Development
Revenue Bonds for R &G Sloane Manufacturing Company, Inc. Mayor
Priest declared the public hearing open. No one was present to
speak in opposition to the proposal and the public hearing was
closed. Consideration was then given to a proposed Ordinance,
entitled:
AN ORDINANCE AUTHORIZING THE ISSUANCE OF INDUSTRIAL
DEVELOPMENT REVENUE BONDS FOR THE PURPOSE OF PROVIDING PERMANENT
FINANCING FOR INDUSTRIAL FACILITIES; AUTHORIZING THE LEASING OF
SUCH FACILITIES TO R &G SLOANE MANUFACTURING COMPANY, INC.;
AUTHORIZING THE SALE OF THE BONDS AND THEIR SECURITY; AUTHORIZING
AND PRESCRIBING OTHER MATTERS PERTAINING THERETO; AND DECLARING
AN EMERGENCY;
and the Ordinance was read the first time. With only four Board
Members present, the rules could not be suspended to place the
Ordinance on second reading. Mr. Tom Leggett, Bond Attorney,
asked that the Ordinance be tabled and a public hearing set for
August 4, 1992. Director Dailey moved that the proposed
Ordinance be tabled. The motion was seconded by Director
Lewellen and unanimously adopted by the Board Members present.
There was a motion and second by Directors Dailey and
Lewellen, respectively, to set a date for public hearing on
August 4, 1992, to consider the issuance of Industrial
Development Revenue Bonds for the R &G Sloane Manufacturing
Company, Inc. The motion was unanimously adopted by the Board
Members present.
A Resolution making appointments to various Boards and
Commissions was deferred until the next meeting.
There being no further business to be presented, the Board
of Directors adjourned at 3:10 o'clock P.M. to meet again in
regular session on Tuesday, July 21, 1992, at 6:00 o'clock P.M.
ATTEST:
CR�
City Clerk Robbie Hancock
APPROVED:
Mayor Sharon Priest
123