6628 j: . ,
RESOLUTION NO. 6 ,628
WHEREAS, pursuant to the Constitution and laws of the
State of Arkansas, including particularly Act No. 142 of the Acts
of Arkansas of 1975 (the "Act" ) , the Board of Directors of the City
of Little Rock, Arkansas (the "City" ) has heretofore created the
City of Little Rock, Arkansas Health Facilities Board (Baptist
Medical Center) (the "Board" ) , and has authorized the Board to
carry out the public purposes described in the Act by providing
financing for health care facilities and pledging the income from
the health care facilities financed thereby to secure its obliga-
tions in connection therewith; and
WHEREAS, to provide more adequate health care
facilities for persons residing in the City, the Board has adopted
a Resolution in the form attached hereto as Exhibit A (the
"Resolution" ) authorizing a Lease Agreement with Option to
Purchase (the "Agreement" ) , between The Commercial National Bank
of Little Rock, Little Rock, Arkansas (the "Bank" ) , as Lessor and
the Board as Lessee, and a Sublease Agreement (the "Sublease" ) ,
between the Board and Baptist Medical Center System, an Arkansas
nonprofit corporation (the "Corporation" ) , in order to provide
financing for the acquisition of telephone and communications
equipment and facilities (the "Equipment" ) to be installed in the
health care facilities operated by the Corporation in the City;
and
WHEREAS, the City reserved in the ordinance creating
the Board the right to approve future financings by the Board, and
is advised at this time that its approval is necessary for the
execution and delivery of the Lease, the Sublease and the
acquisition and installation of the Equipment;
0 NOW, THEREFORE, BE IT RESOLVED by the Board of Directors
of the City of Little Rock, Arkansas:
Section 1. That the acquisition and financing of the
Equipment, in a principal amount not to exceed $1, 500, 000, as pro-
vided in the Resolution, the Lease and the Sublease, is hereby
approved by the Board.
Section 2 . That this Resolution shall be effective
immediately upon its adoption.
Section 3 . That all Resolutions inconsistent herewith
are hereby repealed to the extent of such inconsistency.
UNANIMOUSLY ADOPTED this 21st day of July , 1981 .
CITY OF LITTLE ROCK, ARKANSAS
ATTEST:
41111
/
By
Af /11.1 , Acting Mayor
City—;lerk