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M M
RESOLUTION NO. 8,819
A RESOLUTION APPROVING THE ISSUANCE BY THE CITY OF LITTLE
ROCK, ARKANSAS RESIDENTIAL HOUSING AND PUBLIC FACILITIES
BOARD OF NOT TO EXCEED $6,700,000 PRINCIPAL AMOUNT OF ITS
MULTIFAMILY HOUSING REFUNDING REVENUE BONDS (PLEASANT
RIDGE APARTMENTS PROJECT), SERIES 1992.
624
WHEREAS, the City of Little Rock Arkansas Residential Housing and Public
Facilities Board (formerly the City of Little Rock, Arkansas Residential Housing Facilities
Board) (the "Issuer ") has been requested to issue Multifamily Housing Refunding Revenue
Bonds (Pleasant Ridge Apartments Project), Series 1992 (the "Series 1992 Bonds "), for the
purpose of refunding its outstanding Multifamily Housing Refunding Revenue Bonds
(Pleasant Ridge Apartments Project), Series 1987 (the "Series 1987 Bonds "); and
WHEREAS, the Series 1987 Bondswere issued to refund $6,700,000 principal amount
of the Issuer's Collateralized Loans -to- Lenders Housing Revenue Bonds, 1981 Series A, a
portion of the proceeds of which were used to finance the acquisition, construction, and
equipping of a 200 -unit apartment project, including land, buildings, furnishings, and
equipment located at 11700 Pleasant Ridge Road, Little Rock, Arkansas, which is and will
continue to be owned by HomeCorp Investments, Ltd., an Alabama limited partnership; and
WHEREAS, a public hearing has been held before the Board of Directors of the City
of Little Rock, Arkansas on this date regarding the issuance of the Series 1992 Bonds
following publication of notice of the public hearing in the Arkansas Democrat - Gazette on
October 28, 1992; and
WHEREAS, pursuant to the provisions of section 147(f) of the Internal Revenue
Code of 1986, as amended (the "1986 Code "), it is necessary that the issuance of the Series
1992 Bonds by the Issuer be approved by the Board of Directors of the City of Little Rock,
Arkansas; and
M
R -sg
F -I
625
2 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS:
SECTION 1. That the issuance by the Issuer of not to exceed $6,700,000 principal
amount of its Multifamily Housing Refunding Revenue Bonds (Pleasant Ridge Apartments
Project), Series 1992, be and the same is hereby approved within the meaning of the 1986
Code.
SECTION 2. That this Resolution is adopted solely for the purpose of complying
with the provisions of the 1986 Code, and by the adoption of this Resolution, the City of
Little Rock, Arkansas has not assumed any direct or indirect financial responsibility for the
payment of the Series 1992 Bonds.
ADOPTED: November 11, 1992
ATTEST:
APPROVED AS TO FORM:
APPROVED: