HomeMy WebLinkAbout8671RESOLUTION NO. 8,671 138
A RESOLUTION FIXING A DATE AND TIME FOR A
PUBLIC HEARING
WHEREAS, the City of Little Rock, Arkansas Health
Facilities Board (Baptist Medical Center) (the "Board ") was created
by Ordinance No. 13,700, adopted and approved August 7, 1979, as
heretofore amended (the "Enabling Ordinance "), pursuant to the
Constitution and laws of the State of Arkansas, including
particularly Arkansas Code of 1987 Annotated § §14- 137 -101 through
123 (the "Act "); and
WHEREAS, the Board issued its City of Little Rock,
Arkansas Health Facilities Board (Baptist Medical Center) Revenue
Bonds, Series 1987 (Parkway Village Project) , in the principal
amount of $14,770,000 (the "Outstanding Bonds ") for the purpose of
financing the acquisition, construction and equipping of Parkway
Village; and
WHEREAS, the Board has determined that the Outstanding
Bonds can be refunded, with substantial savings in interest costs,
by the issuance of refunding bonds, under the Act and the Enabling
Ordinance (the "Refunding Bonds "); and
WHEREAS, it is necessary, as a condition to the exemption
of interest on the Refunding Bonds from federal income tax, that
issuance of the Refunding Bonds be approved by an elected official
or officials, following a public hearing and fourteen days'
published notice of such hearing; and
WHEREAS, the Refunding Bonds will be obligations only of
the Board and will not in any event constitute an indebtedness of
which the faith and credit of the City of Little Rock, Arkansas or
any of its revenues are pledged; and
WHEREAS, copies of the notice for a public hearing and of
a proposed approving ordinance are before the Board of Directors at
the meeting at which this Resolution is addressed;
NOW THEREFORE BE IT RESOLVED by the Board of Directors
for the City of Little Rock, Arkansas:
Section 1. A public hearing is hereby scheduled and
fixed on the matter of approval of the Refunding Bonds for 1:30
p.m., April 1, 1992.
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Section 2. All resolutions and parts thereof in conflict 139
herewith are hereby repealed to the extent of such conflict. This
Resolution shall be in force upon its adoption and approval.
ADOPTED: March 11 , 1992.
APPROVED:
ATTEST:
o4t ,� ���C_� Mayor Sharon Priest
City Clerk Robbie ancock
(SEAL)
APPROVED AS TO FORM:
Thomas M. Carpenter
City Attorney