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13108I RESOLUTION NO. 13,108 2 3 A RESOLUTION TO AUTHORIZE THE MAYOR TO ISSUE A LETTER OF 4 SUPPORT TO THE ARKANSAS DEVELOPMENT FINANCE AUTHORITY 5 FOR REHABILITATION OF THE OAK RIDGE APARTMENTS AT 6201 6 MABELVALE CUTOFF, IN THE CITY OF LITTLE ROCK, ARKANSAS; AND 7 FOR OTHER PURPOSES. 8 9 WHEREAS, a proposed project has been submitted for the full rehabilitation of the sixty -four (64) 10 unit Oak Ridge Apartments complex at 6201 Mabelvale Cutoff and has been reviewed in accordance with 11 the City's process, and 12 WHEREAS, the project is to be financed through tax - exempt bonds issued by the Arkansas 13 Development Finance Authority, which has requested a letter of support from the Mayor before the 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 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 1. The Board of Directors hereby authorizes the Mayor to issue a letter of support for the for the full rehabilitation of the sixty -four (64) -unit Oak Ridge Apartments complex at 6201 Mabelvale Cutoff, through tax - exempt 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 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 were not originally a part of the resolution. Section 3. 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ordinances, resolutions, or parts of the same, that are inconsistent with the provisions of this resolution, are hereby repealed to the extent of such inconsistency.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. ADOPTED: April 6, 2010 ATTEST: y, ity Clerk AS O LEGAL FORM: 34 35 36 Thomas M. Carpenter, City orney APPR Stodola, Mayor