20026I
2
ORDINANCE NO. 20,026
3 AN ORDINANCE CREATING THE CITY OF LITTLE ROCK, ARKANSAS
4 (HEIFER PROJECT INTERNATIONAL) PUBLIC FACILITIES BOARD;
5 PRESCRIBING OTHER MATTERS RELATING THERETO; AND DECLARING
6 AN EMERGENCY.
7
8 BE IT ORDAINED BY THE BOARD OF DIRECTORS OF THE CITY OF LITTLE ROCK,
9 ARKANSAS, that:
10 Section 1. In accordance with and pursuant to the authority conferred by the Public
11 Facilities Boards Act (Ark. Code Ann §§ 14-137 -101 et seq.), there is hereby created and
12 established a public facilities board (hereinafter referred to as the 'Board ") with authority as
13 hereinafter provided to deal in or dispose of the facilities identified in the Public Facilities
14 Boards Act.
15 Section 2. The name of the Board shall be "City of Little Rock, Arkansas (Heifer Project
16 International) Public Facilities Board ".
17 Section 3. The initial members of the Board shall be appointed by the Mayor pursuant to
18 Ark. Code Ann. § 14- 137- 108(b), subject to confirmation by the Board of Directors. Each member
19 shall take and file with the City Clerk the Oath of Office prescribed by the Public Facilities
20 Boards Act.
21 Section 4. The Board is empowered, from time to time, to own, acquire, construct,
22 reconstruct, extend, equip, improve, operate, maintain, sell, lease, contract concerning, or
23 otherwise deal in or dispose of capital improvement facilities for the use and benefit of Heifer
24 Project International, or any interest in such capital improvement facilities including, without
25 limitation, leasehold interests in and mortgages on such capital improvement facilities.
26 Section 5. The Board is authorized to issue revenue bonds from time to time and to use the
27 proceeds, either alone or together with other available funds and revenues, to accomplish the
28 purposes for which the Board is created. Such revenue bonds shall be obligations only of the
29 Board and shall not constitute an indebtedness for which the faith and credit of the City or any
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Ordinance
Creating the Little Rock (Heifer Project International) Public
Facilities Board
I of its revenues are pledged, and the principal of and interest on the bonds shall be payable from
2 and secured by a pledge of revenues, obligations, and other funds or sources of funds as
3 authorized by and in accordance with the provisions of the Public Facilities Boards Act.
4 Section 6. The Board shall have all the powers provided in the Public Facilities Boards Act,
5 subject to the provisions of this Ordinance, and shall carry out its duties in accordance with the
6 Public Facilities Boards Act, including specifically, without limitation, the filing of the annual
7 report required by Ark. Code Ann. § 14- 137 -123.
8 Section 7. Severability. In the event any title, section, paragraph, item, sentence, clause,
9 phrase, or word of this ordinance is declared or adjudged to be invalid or unconstitutional, such
10 declaration or adjudication shall not affect the remaining portions of this ordinance, which shall
11 remain in full force and effect as if the portion so declared or adjudged invalid or
12 unconstitutional was not originally a part of this ordinance.
13 Section 8. Repealer. All ordinances or resolutions of the City in conflict herewith are
14 hereby repealed to the extent of such conflict.
15 Section 9. Emergency. The Board of Directors hereby determines that there is an
16 immediate and urgent need for providing financial assistance for capital improvement facilities
17 for the use and benefit of Heifer Project International in the City of Little Rock in order to
18 protect the health, lives, and property of the inhabitants of the City. It is, therefore, declared that
19 an emergency exists and this Ordinance, being necessary for the immediate preservation of the
20 public peace, health, and safety, shall take effect and be enforced from and after its passage.
21 PASSED: September 16, 2008
22 AT EST: APPROV
23 *'-IlCt t�L � - -
24 Na aki S. Blocker, Assistant City Clerk Mark Stodola, Mayor
25 For Nancy Wood, City Clerk
26
27 APPROVED AS TO LEGAL FO
28 �l t�4W4 1 -
29 Thomas M. Carpenter, City #ttorney
30 H
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