20803 2013071885 Received: 10/2/2013 11:39:06 AM
Recorded: 10/02/2013 11:43:24 AM Filed&
Recorded in Official Records of Larry Crane,
PULASKI COUNTY CIRCUIT/COUNTY CLERK
1 ORDINANCE NO. 20,803Fees$25.00
2
3 AN ORDINANCE TO CALL A SPECIAL ELECTION IN THE CITY OF
4 LITTLE ROCK, ARKANSAS, ON THE QUESTION OF ISSUING BONDS
5 UNDER AMENDMENT NO.62 TO THE CONSTITUTION OF THE STATE
6 OF ARKANSAS FOR THE PURPOSE OF FINANCING ALL OR A
7 PORTION OF THE COST OF CAPITAL IMPROVEMENTS; AND
8 PRESCRIBING OTHER MATTERS PERTAINING THERETO.
9
10 WHEREAS, the Little Rock Convention and Visitors Bureau ("LRCVB") operates convention,
11 meeting and entertainment facilities owned by the City of Little Rock,Arkansas(the"City"); and,
12 WHEREAS, the convention, meeting and entertainment facilities operated by LRCVB include the
13 Statehouse Convention Center and Robinson Auditorium, both of which are located on Markham Street in
14 the City;and,
15 WHEREAS, the City Advertising and Promotion Commission, which is the governing body of
16 LRCVB, has determined that Robinson Auditorium is in need of additions, renovations, equipment and
17 furnishings(the"Robinson Auditorium Improvements"); and,
18 WHEREAS,the Robinson Auditorium Improvements are not general capital improvements within the
19 City but are for,or in direct support of, conventions, meetings and entertainment; and,
20 WHEREAS, the costs of the Robinson Auditorium Improvements are estimated to be approximately
21 Sixty-Eight Million, Six Hundred Thousand Dollars($68,600,000); and,
22 WHEREAS, the City can finance all or a portion of the costs of the Robinson Auditorium
23 Improvements by the issuance of capital improvement bonds in the maximum aggregate principal amount
24 of Seventy-Three Million,Five Hundred Thousand Dollars($73,500,000)(the"Bonds")under the authority
25 of Amendment No. 62 to the Constitution of the State of Arkansas,Title 14,Chapter 164, Subchapter 3 of
26 the Arkansas Code of 1987 Annotated(the"Authorizing Legislation")and Title 26,Chapter 75,Subchapter
27 3 of the Arkansas Code of 1987 Annotated(the"Tax Legislation"); and,
28 WHEREAS, the proceeds of the Bonds will also be used to provide a debt service reserve and pay
29 costs of issuing the Bonds; and,
30 WHEREAS,the City can pay the principal of and interest on the Bonds from a pledge of the collections
31 of the City's existing 2% tax upon the gross receipts from motels, hotels, restaurants, cafes, cafeterias and
32 other establishments engaged in the business of selling prepared food for consumption on the gre �esCoMel:,,,
\
33 such establishment,levied by the City under the authority of the Tax Legislation and Ordinancir 1 0
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1 adopted May 4, 1970, and Ordinance No. 13,527, adopted November 7, 1978, each as amended by
2 Ordinance No. 17,100, adopted January 16, 1996(collectively,the "Tax"); and,
3 WHEREAS,the purpose of this ordinance is to submit to the electors of the City the question of issuing
4 the Bonds for the Robinson Auditorium Improvements at a special election to be called for that purpose;
5 NOW,THEREFORE,BE IT ORDAINED BY THE BOARD OF DIRECTORS OF THE CITY
6 OF LITTLE ROCK,ARKANSAS:
7 Section 1. There be, and there is hereby called, a special election to be held on December 10, 2013,
8 at which election there shall be submitted to the electors of the City, the question of issuing the Bonds to
9 accomplish the Robinson Auditorium Improvements in the aggregate principal amount of not to exceed
10 Seventy-Three Million, Five Hundred Thousand Dollars($73,500,000)to be payable from a pledge of the
11 collections of the Tax.
12 Section 2. The question of issuing the Bonds shall be placed on the ballot for the election in
13 substantially the following form:
14
15 Vote on measure by placing an "X" in the square below the measure either for or against:
16
17 ROBINSON AUDITORIUM IMPROVEMENT BONDS
18
19 An issue of bonds of the City of Little Rock, Arkansas in one or more series in the
20 maximum aggregate principal amount of$73,500,000 for the purpose of financing all or a
21 portion of the costs of renovations and additions to, and furnishings and equipment for,
22 Robinson Auditorium. The bonds will be payable from and secured by a pledge of the
23 collections of the existing 2%tax levied by the City upon the gross receipts from motels,
24 hotels,restaurants,cafes,cafeterias and all other establishments engaged in the business of
25 selling prepared food for consumption on the premises of such establishment. The
26 proceeds of the bonds will also be used to provide a debt service reserve and pay costs of
27 issuing the bonds.
28
29 FOR
30
31 AGAINST
32
33 Section 3. The election shall be held and conducted and the vote canvassed and the results declared
34 under the law and in the manner now provided for municipal elections unless otherwise provided in the
35 Authorizing Legislation and only qualified voters of the City shall have the right to vote at the election.
36 Section 4. The results of the election shall be proclaimed by the Mayor,and his Proclamation shall be
37 published one (1) time in a newspaper having a general circulation in the City, which Proclamation shall
38 advise that the results as proclaimed shall be conclusive unless attacked in the courts within thirty(30)days
39 after the date of publication.
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1 Section 5. A copy of this ordinance shall be filed with the Pulaski County Clerk at least sixty (60)
2 days prior to the election date. A copy of this ordinance shall also be given to the Pulaski County Board of
3 Election Commissioners so that the necessary election officials and supplies may be provided.
4 Section 6. The Mayor and City Clerk,for and on behalf of the City,be,and they are hereby,authorized
5 and directed do any and all things necessary to call and hold the special election as herein provided.
6 Section 7. The provisions of this ordinance are hereby declared to be severable, and if any provision
7 shall for any reason be held illegal or invalid, it shall not affect the validity of the remainder of the
8 Ordinance.
9 Section 8. All ordinances and parts thereof in conflict herewith are hereby repealed to the extent of
10 such conflict.
11 PASSED: October 1,2013 i
12 ATTEST: APPROVED:
13 1I
AMI
14 Irift
15 us-a— :n:ley, • Clerk Mark Stodola,Mayor
16 APP' •VE 1 AS TO ►EGAL FORM:
17
18 �b
19 Cindy Dawso ,Deputy City Attorney
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