HomeMy WebLinkAbout17028 1 RESOLUTION NO. 17,028
2
3 A RESOLUTION SETTING MAY 5, 2026 AS THE DATE FOR A PUBLIC
4 HEARING TO CONSIDER THE ISSUANCE OF A PORT AUTHORITY
5 REVENUE BOND IN THE MAXIMUM PRINCIPAL AMOUNT OF FIVE
6 MILLION ONE HUNDRED THOUSAND DOLLARS($5,100,000)FOR THE
7 PURPOSE OF FINANCING THE ACQUISITION OF REAL PROPERTY
8 AT THE INDUSTRIAL PARK AT THE PORT OF LITTLE ROCK; AND
9 PRESCRIBING OTHER MATTERS RELATING THERETO.
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11 WHEREAS,the City of Little Rock,Arkansas(the"City")owns a municipal port and related land and
12 facilities known as the Port of Little Rock(the"Port"),which is operated by the Little Rock Port Authority
13 (the "Authority")for and on behalf of the City; and
14 WHEREAS, as part of the Port, the Authority operates the Little Rock Port Industrial Park (the
15 "Industrial Park"); and
16 WHEREAS, the Authority has determined that there is a need for the acquisition of land, rights-of-
17 way,and easements for the expansion of the Industrial Park for future economic development projects and
18 any costs associated therewith(collectively,the "Project");
19 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
20 OF LITTLE ROCK,ARKANSAS:
21 Section 1. A public hearing to consider the issuance of a Port Authority Revenue Bond (the "Bond")
22 in the maximum principal amount of$5,100,000 to finance all or a portion of the costs of the Project shall
23 be held by the Little Rock Board of Directors on Tuesday, May 5,2026, at 6:00 p.m., or as soon thereafter
24 as the matter comes on the call of the agenda. The hearing shall be held in the Board Chambers on the 2nd
25 floor of City Hall,located at 500 West Markham Street,Little Rock,Arkansas. All interested persons shall
26 have an opportunity to be heard concerning the proposed issuance of the Bond.
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 this resolution which shall remain in full force and
30 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally part of this
31 resolution.
32 Section 3. Repealer. All laws, ordinances, resolutions, or parts of the same which are inconsistent
33 with the provisions of this resolution are hereby repealed to the extent of such inconsistency.
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1 ADOPTED: April 21,2026
2 ATTEST: APPROVED:
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4
5 Allison Segars,City CI ran Scott,Jr.,Mayor
6 APPROVED AS TO LEGAL FORM:
7
8 04-
9 Thomas M. Carpenter,City Attor
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