134191 RESOLUTION NO. 13,419
2
3 A RESOLUTION TO AUTHORIZE THE MAYOR TO ISSUE A LETTER
4 OF SUPPORT FOR TAX - EXEMPT BONDS TO THE ARKANSAS
5 DEVELOPMENT FINANCE AUTHORITY FOR THE CONSTRUCTION
6 OF A 160 -UNIT APARTMENT COMPLEX, LOCATED AT 4020 SOUTH
7 SHACKLEFORD ROAD, IN THE CITY OF LITTLE ROCK, ARKANSAS;
8 AND FOR OTHER PURPOSES.
9
10 WHEREAS, a proposed project has been submitted for the construction of a 160 -unit apartment
11 complex, located at 4020 South Shackleford Road, and has been reviewed in accordance with the City's
12 process, and
13 WHEREAS, the project is to be financed through tax - exempt bonds issued to the Arkansas
14 Development Finance Authority, which has requested a letter of support from the Mayor before the
15 project can be approved for tax - exempt bond financing with tax credits.
16 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
17 OF LITTLE ROCK, ARKANSAS:
18 Section 1. The Board of Directors hereby authorizes the Mayor to issue a letter of support for the
19 construction of a 160 -unit apartment complex, located at 4020 South Shackleford Road, through tax -
20 exempt bonds issued by the Arkansas Development Finance Authority.
21 Section 2. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
22 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
23 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
24 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
25 resolution.
26 Section 3. Repealer. All laws, ordinances, resolutions, or parts of the same, that are inconsistent
27 with the provisions of this resolution, are hereby repealed to the extent of such inconsistency.
28 Section 4. This resolution shall be in full force and effect from and after its adoption.
29 ADOPTED: January 3, 2012
30 ST: APPROVED:
i
31 _ D
32 Gi
33 u a a ley, City Clerk Mark Stodola, Mayor
34 AP O D AS TO LEGAL FORM:
35
36�
37 Thomas M. Carpenter, City/Attorney