HomeMy WebLinkAbout15658 1 RESOLUTION NO. 15,658
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3 A RESOLUTION TO AUTHORIZE THE CITY MANAGER TO
4 NEGOTIATE AND ENTER INTO A CONTRACT WITH STEPHENS,INC.,
5 AS THE PRIMARY VENDOR, AND CREWS & ASSOCIATES AS THE
6 JOINT PROPOSER, AS BOND UNDERWRITER FOR THE PROPOSED
7 ISSUANCE OF CITY OF LITTLE ROCK, ARKANSAS LIMITED TAX
8 GENERAL OBLIGATION CAPITAL IMPROVEMENT BONDS IN ONE
9 (1) OR MORE SERIES; PROVIDING FOR OTHER MATTERS IN
10 CONNECTION WITH THE ISSUANCE OF THE BONDS; AND FOR
11 OTHER PURPOSES.
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13 WHEREAS,it is necessary to have Bond Underwriters provide the best financial terms for the issuance
14 and sale of City of Little Rock, Arkansas Limited Tax General Obligation Capital Improvement Bonds in
15 one(1)or more series as proposed; and,
16 WHEREAS,the City requested proposals from qualified firms to handle this work; and,
17 WHEREAS,the proposals received were reviewed and evaluated by a Professional Services Selection
18 Committee designated in accordance with City Ordinance; and,
19 WHEREAS, the Committee has concluded that the joint proposal of Stephens, Inc., and Crews &
20 Associates are the most qualified and has the knowledge and experience with similar financings in Arkansas
21 and nationally as an Underwriter to act as the Underwriter for the proposed bond issue.
22 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
23 OF LITTLE ROCK,ARKANSAS:
24 Section 1. The Board of Directors hereby authorizes the City Manager to negotiate and enter into an
25 agreement with the Primary Vendor of the joint proposal of Stephens,Inc.,and Crews&Associates,to act
26 as Bond Underwriter for this proposed bond issue in one(1)or more series.
27 Section 2. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
28 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
29 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
30 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
31 resolution.
32 Section 3. Repealer. All laws,ordinances,resolutions,or parts of the same,that are inconsistent with
33 the provisions of this resolution,are hereby repealed to the extent of such inconsistency.
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1 ADOPTED: April 5,2022
2 IL T• APPROVED:
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5 isan gl&City Clerk Frank Scott,Jr.,Mayor
6 APPR e / D • S TO LEGAL FORM:
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8 / LI/.a
9 Thomas M. Carpenter, ity Attor f y
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