HomeMy WebLinkAbout121951
2
RESOLUTION NO. 12,195
3 A RESOLUTION TO DECLARE THE INTENT OF THE CITY OF
4 LITTLE ROCK, ARKANSAS TO REIMBURSE ITSELF FOR CAPITAL
5 EXPENDITURES FROM THE PROCEEDS OF SHORT-TERM
6 FINANCING OBLIGATIONS OF THE CITY; AND PRESCRIBING
7 OTHER MATTERS RELATING THERETO.
:
9 WHEREAS, the City proposes to construct a River Market Pedestrian Bridge
10 linking Clinton Avenue to the Game and Fish Commission Nature Center and the River
11 Market Promenade, and
12 WHEREAS, the short-term financing obligations will be issued or incurred
13 under Amendment No. 78 to the Arkansas Constitution and Act No. 1808 of 2001; and
14 WHEREAS, it is appropriate that the City assure that its power to issue short-
15 term financing obligations to finance the costs of the capital improvements as described
16 above, the interest on which is exempt from federal income tax, will, under applicable
17 Treasury Regulations, be preserved, and adoption of this Resolution serves that
18 purpose;
19 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
20 THE CITY OF LITTLE ROCK, ARKANSAS:
21 Section 1. The City hereby declares its official intent pursuant to United States
22 Treasury Regulation § 1.150-2 to reimburse itself for the capital expenditures described
23 above between January 17, 2005 and the date the short-term financing obligations are
24 issued, plus a de minimis amount and pertaining expenditures, with proceeds of one or
25 more short-term financing obligations in the aggregate principal amount not to exceed
26 $130,000.
[PAGE 1 OF 2]
Resolution
To express intent to reimburse short-term financing
1 Section 2. This Resolution shall be in effect upon its adoption and approval.
2 ADOPTED: January 17, 2006
3 ATTEST:
4
5
6 ancy W od, City Clerk
7
8 APPROVED AS TO LEGAL FORM:
9 �
10 "
11 Thomas M. Carpenter, City Atto ey
12 //
13 //
14 //
15 //
16 //
17 //
18 //
19 //
20 //
21 //
22 //
23 //
24 //
25 //
26 //
[PAGE 2 OF 2]
Resolution
To express intent to reimburse shor6term financing
APPROVED: �
jim ailey, Mayor