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RESOLUTION NO. 12345
2
3 A RESOLUTION TO AUTHORIZE THE ALLOCATION OF $1,145,156 FROM THE
4 INTEREST EARNINGS OF THE $70,635,000 CITY OF LITTLE ROCK, ARKANSAS,
5 LIMITED TAX GENERAL OBLIGATION CAPITAL IMPROVEMENT BONDS, SERIES
6 2004; AND FOR OTHER PURPOSES.
7
8 WHEREAS, the Board of Directors authorized, and the electorate approved, the issuance of
9 capital improvement bonds in 2004 pursuant to Little Rock, Ark., 18,941 (September 30, 2003),
10 and
11 WHEREAS, proceeds from the bonds have been maintained in an interest and reserve fund
12 which has earned a significant amount of interest since the issuance of the bonds, and
13 WHEREAS, various City departments which originally received bond funds have requested
14 authority to enhance or add similar projects with the use of this interest money, and such use is
15 authorized by law,
16 NOW, THEREFORE, THE BOARD OF DIRECTORS OF THE CITY OF LITTLE ROCK, ARKANSAS,
17 HEREBY RESOLVES:
18 Section 1. The amount of one million one hundred and forty -five thousand one hundred
19 and fifty -six dollars ($1,145,156.00) is hereby authorized to be withdrawn from the interest
20 earnings on the $70,635,000 City of Little Rock, Arkansas, Limited Tax General Obligation
21 Capital Improvement Bonds, Series 2004, and to be expended as follows:
22 (a) $ 220,000
23 to the Division of Animal Services to enable a full operational move to the
24 new Animal Village; and
25 (b) 88,400
26 to the Little Rock Fire Department for additional upgrades to the Central
27 Fire Station; and
[PAGE 1 OF 3]
Resolution to authorize the expenditure of $1,145,156 in
Interest earnings from the $70,635,000 City of Little Rock,
Arkansas Limited Tax Obligation Capital Improvement Bonds,
Series 2004
I (c) 320,000
2 to the Department of Parks & Recreation for:
3 (i) improvements to Fletcher Park; and,
4 (ii) improvements to Otter Creek Park; and,
5 (iii) additional funding for the Arkansas River Trail; and
6 (d) 66,756
7 to the Little Rock Police Department for additional computer aided dis-
8 patch work stations; and
9 (e) 280,000
10 to the Little Rock Department of Public Works for:
11 (i) additional resurfacing of high volume streets; and
12 (ii) installation of a flashing signal at Fire Station No. 14; and
13 (f) 170,000
14 to the Little Rock Zoo for:
15 (i) a Point of Sales system; and
16 (ii) additional fencing; and
17 (iii) a security system; and
18 (iv) renovation of old restaurant into educational facility.
19 Section 2. Severability. In the event any title, section, paragraph, item, sentence, clause,
20 phrase, or word of this resolution is declared or adjudged to be invalid or unconstitutional,
21 such declaration or adjudication shall not affect the remaining portions of the resolution which
22 shall remain in full force and effect as if the portion so declared or adjudged invalid or uncon-
23 stitutional was not originally a part of the resolution.
24 Section 3. Repealer. All laws and parts of laws inconsistent with the provisions of this
25 resolution are hereby repealed to the extent of such inconsistency.
26 ADOPTED: September 19, 2006
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Resolution to authorize the expenditure of $1,145,156 in
Interest earnings from the $70,635,000 City of Little Rock,
Arkansas Limited Tax Obligation Capital Improvement Bonds,
Series 2004
1 ATTEST:
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4 cy Wood, 6ity Clerk
5 APPROVED AS TO LEGAL FORM:
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8 Thomas M. Carpenter, City Attorney
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[PAGE 3 OF 31
Resolution to authorize the expenditure of $1,145,156 in
Interest earnings from the $70,635,000 City of Little Rock,
Arkansas Limited Tax Obligation Capital Improvement Bonds,
Series 2004
APPROVED:
Jim iley, Mayor