3871 RESOLUTION NO. 3, 871
A RESOLUTION OF COMMITMENT TO PLEDGE,
FOLLOWING AN ELECTION, CERTAIN TAX REVENUES
TO FINANCE THE LITTLE ROCK AIRPORT COMMISS-
ION' S PLAN FOR DEVELOPMENT AND IMPROVEMENT
OF ADAMS FIELD; AND FOR OTHER PURPOSES .
WHEREAS, it has now been determined both by the Little
Rock Airport Commission, as evidenced by its Resolution dated
1st day ofNovember, 1967, and this Board of Directors, that
in order to provide the improvements at Adams Field as provided
for in Phase II of the Commission' s plan for development sub-
mitted to this Board of Directors in March of 1966, and part-
icularly for the construction of a new airport terminal build-
ing, that certain ad valorem tax millage must be made available
for the purpose of financing said project; and
WHEREAS, it has been determined that 1.25 tax millage
available to the City of Little Rock for capital improvements
will be available for use in providing the improvements at
Adams Field in 1968 after all Little Rock Municipal Library
General Obligation Bonds, now outstanding, have been paid in
full; and
WHEREAS, it is the desire of the Board of Directors to
commit the 1.25 tax millage now pledged to secure the payment of
said Little Rock Municipal Library General Obligation Bonds to
finance the improvements provided for in Phase II of the Airport
Commission' s recommended capital improvements including, but not
limited to, a new airport terminal building.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS
OF THE CITY OF LITTLE ROCK, ARKANSAS.
SECTION 1. The Board of Directors hereby commit them-
selves to call an election for the sale of General Obligation
Capital Improvement Bonds to be secured by pledge and levy of
1.25 tax mills to finance certain capital improvements provided
for by Phase II of the Airport Commission' s 1966 report and
_2_
recommedation including but not limited to an airport terminal
building at such time in 1968 as the Little Rock Municipal
Library General Obligation Bonds secured by 1.25 tax mill levy
are fully paid or provided for.
SECTION 2. This Resolution shall be in full force and
effect from and after its adoption.
ADOPTED: November 6, 1967
ATTEST: ��C; u '#.---Bee,Aj APPROVED: /
City Clerk Mayor