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RESOLUTION NO. 12,203
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 FOR OTHER
7 PURPOSES.
:
9 WHEREAS, the City of Little Rock, Arkansas (the "City") has acquired within
10 the past sixty days, or proposes to acquire, computer software and hardware at an
11 estimated cost of $3,000,000; and
12 WHEREAS, short-term financing obligations will be issued or incurred under
13 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 Regulations § 1.150-2 to reimburse itself for the capital expenditures described
23 above between December 9, 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 amount not to exceed $3,011,000.
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Section 2. This Resolution shall be in effect upon its adoption and approval.
ADOPTED: February 7, 2006
ATTEST:
Na Woo City Clerk
APPROVED AS TO FORM:
APPROVED: �
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13 Thomas M. Carpenter, City Attorney
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Schedule A
City of Little Rock
2006 Short-term Financing Detail — Computer Software and Hardware
February 7, 2006
Computer Software and Hardware (initial allocation — subject to change):
$
Total $3,000,000
Insurance costs 11,000
Total $ 3,011,000
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