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RESOLUTION NO. 121157
3 A RESOLUTION TO AUTHORIZE THE MAYOR TO ISSUE A LETTER
4 OF SUPPORT TO THE ARKANSAS DEVELOPMENT FINANCE
5 AUTHORITY FOR RENOVATION OF A ONE HUNDRED EIGHTY-
6 FOUR (184) UNIT
APARTMENT
COMMUNITY LOCATED AT 43
7 WARREN DRIVE,
IN THE CITY
OF LITTLE ROCK, ARKANSAS;
8 AND FOR OTHER PURPOSES.
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WHEREAS,
a proposed project has been submitted
for the
renovation of
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Autumn Park, an
existing 184 -unit apartment community
located
in the Geyer
12 Springs /Chicot Road area, and has been reviewed in accordance with the City's process,
13 and
14 WHEREAS, the project is to be financed through tax - exempt bonds issued by
15 the Arkansas Development Finance Authority, which has requested a letter of support
16 from the Mayor before the project can be approved for tax - exempt bond financing with
17 tax credits.
18 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
19 THE CITY OF LITTLE ROCK, ARKANSAS:
20 Section 1. The Board of Directors hereby authorizes the Mayor to issue a letter
21 of support for the renovation of Autumn Park, a 184 -unit apartment community,
22 located in the Geyer Springs /Chicot Road area, through tax - exempt bonds issued by the
23 Arkansas Development Finance Authority.
24 Section 2. Severability. In the event any title, section, paragraph, item, sentence,
25 clause, phrase, or word of this resolution is declared or adjudged to be invalid or
26 unconstitutional, such declaration or adjudication shall not affect the remaining
[PAGE 1 OF 21
Resolution
To authorize letter of support to ADFA for
Autumn Park Apartments
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portions of the resolution which shall remain in full force and effect as if the portion so
declared or adjudged invalid or unconstitutional was 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are inconsistent with the provisions of this resolution, are hereby repealed to the extent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: December 20, 2005
ATTEST:
Na cy Wo d, City Clerk
APPROVED AS TO LEGAL FORM:
C ati►-,
Thomas M. Carpenter, City Attorney
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Resolution
To authorize letter of support to ADFA for
Autumn Park Apartments
[PAGE 2 OF 21
APPROVED:
Jim Oiley, Mayor