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A
AP
RESOLUTION NO. 13,107
'SOLUTION TO AUTHORIZE THE MAYOR TO ISSUE A LETTER OF
'ORT TO THE ARKANSAS DEVELOPMENT FINANCE AUTHORITY
CONSTRUCTION OF A FIFTY (50) -UNIT INDEPENDENT SENIOR
?2TMENT COMMUNITY AT 9501 MABELVALE PIKE, IN THE CITY OF
'LE ROCK, ARKANSAS; AND FOR OTHER PURPOSES.
WHEREAS, a proposed project has been submitted for the construction of a fifty (50) -unit
independent senior apartment community at 9501 Mabelvale Pike, and has been reviewed in accordance
with the City's process, and
WHEREAS, the project is to be financed through tax- exempt bonds issued by the Arkansas
Development Finance Authority, which has requested a letter of support from the Mayor before the
project can be approved for tax- exempt bond financing with tax credits.
NOW, ')THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
OF LITTLE ROCK, ARKANSAS:
Section I. The Board of Directors hereby authorizes the Mayor to issue a letter of support for the
construction of a fifty (50) -unit independent senior apartment community at 9501 Mabelvale Pike,
through tax-PI xempt bonds issued by the Arkansas Development Finance Authority.
Section 2. 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 �'Ishall 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 were not originally a part of the
resolution.
Section. Repealer. All laws, ordinances, resolutions, or parts of the same, that are inconsistent
with the provisions of this resolution, are hereby repealed to the extent of such inconsistency.
Section 4. This resolution shall be in full force and effect from and after its adoption.
ADOPTED4 April 6, 2010
ATTEST:i APPROVED:
APPR
Thomas M.
y,, tty Clerk
AS TO LEGAL FORM:
. — .--
Ci ttorney
W
Stodola, Mayor