HomeMy WebLinkAbout8992SOLUTION NO. . 8,992 •
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A RESOLUTION SETTING A DATE FOR A PUBLIC HEARING ON
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4 THE QUESTION OF THE ISSUANCE OF REFUNDING BONDS BY
5 THE CITY OF LITTLE ROCK, ARKANSAS RESIDENTIAL HOUSING
6 AND PUBLIC FACILITIES BOARD.
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8 WHEREAS, the City of Little Rock, Arkansas Residential Housing and Public
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Facilities Board (the "Facilities Board ") presently has outstanding its Multifamily
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11 Housing Revenue Bonds, Series 1985 (Federal National Mortgage Program/Village
12 Green Apartments Project), dated December 1, 1985 (the "Bonds"), the unpaid principal
13 balance of which is $3,850,000; and
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15 WHEREAS, pursuant to the provisions of the Bonds, the owner of the project
16 financed by the bonds has requested that the bonds be refunded on terms acceptable to
17 the Federal National Mortgage Association in order to obtain a savings in interest cost;
18 and
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20 WHEREAS, pursuant to federal law applicable to the issuance of revenue bonds
21 by the Facilities Board, it is required that such issuance be approved by the Board of
22 Directors of the City of Little Rock, following a public hearing, as to which reasonable
23 notice thereof shall have been given by a publication of notice in a newspaper of general
24 circulation within the City of Little Rock, Arkansas;
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26 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
27 THE CITY OF LITTLE ROCK, ARKANSAS:
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29 SECTION 1. A public hearing on the question of the issuance of revenue bonds
30 to refund the Bonds described above by the City of Little Rock, Arkansas Residential
31 Housing and Public Facilities Board be held at the regular meeting of the Board of
32 Directors to be held at 6:00 p.m., Little Rock City Hall, 500 West Markham, Little
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Rock, Arkansas, on September 21, 1993, and that the City Clerk shall assure that notice
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35 thereof has been or will be published in the time and manner provided by law.
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SECTION 2. This resolution shall be effective from and after its passage and
approval.
ADOPTED: Septanber 7, 1993
ATTEST.
APPROVED AS TO FORM:
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THOMAS M. CAKFEN- .
CITY ATTORNEY
APPROVED: