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Board of Directors Room
City Hall - 500 W. Markham
Little Rock, Arkansas
April 30, 1996 - 4:07 P.M.
The Board of Directors of the City of Little Rock, Arkansas, reconvened from the
April 16, 1996 regular meeting with Mayor Jim Dailey presiding. Assistant City Clerk
Vanessa Sykes called the roll with the following Directors present: Directors Sharp,
Kumpuris, Adcock, Hinton, Hodges, Keck, and Wyrick - total 7; Absent - Directors
Mason, Wilson, and Joyce - total 3.
With a quorum present, Mayor Dailey declared the Board of Directors in session
and the proceedings of the meeting are recorded as follows.
There was a brief discussion of what action was required in order for the Board of
Directors to consider Items 2 and 3 on the Agenda since they were added after the Board
of Directors recessed on April 16, 1996, at which time it was stated the Board would
reconvene on April 30, 1996, for the purpose of considering the Airport Bond Issue (Item
1). In response to Mayor Dailey's question, City Attorney Tom Carpenter stated there
were no legal problems as long as the two hour notice was met, pursuant to the F.O.I.
requirement. However, Mr. Carpenter said the Board should be aware of the fact that the
purchase of the property for the Central High School Museum (Item #3) was scheduled
to close the next day. If the Board did not wish to consider Item 3, then the closing
would be delayed. Mayor Dailey asked that in the future, the Clerk will note on the
Agenda which items are additions and would require Board action to be considered.
City Director Willie Hinton and Mr. Lee Lindsey, Director of COPE, presented a
plaque to Mayor Dailey in appreciation for his participation in the COPE fund
raising event.
Consideration was then given to Item 1 on the Agenda which was a proposed
Ordinance providing for the issuance and sale of Airport Passenger Facility Charge
Revenue Bonds. (NOTE: See Minutes of April 16, 1996 for public hearing.) Mr. Gary
Smith, Chairman of the Little Rock Municipal Airport Commission, reported on the
status of the bond issue, stating the Commission had received the underlying rating from
Standard and Poors, which was a Triple B rating. The Commission will have a special
meeting on Tuesday afternoon, May 7, 1996, to receive the interest rate ranges to be
expected in marketing the bonds and will present that information to the Board of
Directors at its meeting on Tuesday night, May 7, 1996, at which time the Ordinance will
be presented. Mrs. Susan Fleming, Financial Advisor for the Airport Commission,
stated the bonds when sold to the investing public will be rated Triple A by all three
credit rating agencies, because they are insured by AMBAC Insurance Company. No
action was taken by the Board of Directors. Therefore, the proposed Ordinance will be
considered on May 7,1996.
Item 2 on the Agenda was a proposed Resolution titled: A RESOLUTION TO
DIRECT A REVIEW OF THE PLANS FOR THE CORRIDORS IN THE
HEIGHTS/HILLCREST PLANNING AREA; TO DECLARE THAT NO
REZONING APPLICATIONS WILL RECEIVE FINAL CONSIDERATION
UNTIL SUCH PLAN IS COMPLETED; AND FOR OTHER PURPOSES. Director
Adcock asked that the Resolution be discussed during the Agenda Meeting immediately
following the Reconvened Meeting. Therefore, no action was taken to place the
Resolution on the Agenda for the Reconvened Meeting.
The next presentation was Resolution No. 9,677, entitled:
A RESOLUTION TO AUTHORIZE THE PURCHASE OF PROPERTY FOR
THE CENTRAL HIGH SCHOOL MUSEUM; TO AUTHORIZE THE MAYOR AND
CITY CLERK TO EXECUTE ANY NECESSARY PAPERS; AND FOR OTHER
PURPOSES.
414
Minutes - Reconvened Meeting
April 30, 1996
(Property located at 14th and Park Streets for the Visitors Center and
Commemorative Garden.)
Mr. Rett Tucker, Chairman of the Central High School Museum Task Force, stated the
Task Force has an objective to get the Visitors Center open by September, 1997, and
would like to purchase the property before starting the fund raising project. The property
is the former gas station on 14th Street and a vacant lot across the street to be used for the
Visitors Center and Commemorative Garden. The Museum site will be Phase II and that
property is not included in this purchase. Mr. Tucker reminded the Board that
September, 1997, will be the 40th anniversary of the 1957 Central High crisis and the
70th anniversary of the opening of the school. The Board of Directors generally agreed
to add the Resolution to the Agenda and the Resolution was then read. There was a
motion by Director Sharp, seconded by Director Keck, to adopt the Resolution, and the
Resolution was unanimously adopted by the Board Members present.
Mr. Tucker stated there will be a press conference on Friday, May 3, 1996, at
10:00 A.M. at 14th and Park Streets to announce the acquisition of the property and the
beginning of the public fund raising campaign for the project. Mayor Dailey asked staff
to take a look at the street network at that location because of drug problems in the area
and to see what would be involved in opening 15th Street at that location so there will
be a straight front door entry into Central High School.
There being no further business to be considered, the reconvened meeting was
adjourned at 4:25 o'clock P.M. with the Board of Directors to meet again in regular
session on Tuesday, May 7, 1996, at 6:00 o'clock P.M.
ATTEST:
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City Clerk Robbie Hancock
APPROVED:
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Mayor Jim Dailey
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