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RESOLUTION NO 9,046 •
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A RESOLUTION AUTHORIZING THE OFFERING OF UP TO
$179000,000 CITY OF LITTLE ROCK, ARKANSAS LIBRARY
CONSTRUCTION AND IMPROVEMENT BONDS, SERIES 1994 (THE
"BONDS "); APPROVING THE FORM OF PRELIMINARY OFFICIAL
STATEMENT; AND PROVIDING FOR OTHER MATTERS IN
CONNECTION WITH THE ISSUANCE OF THE BONDS.
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WHEREAS, at a special election held July 27, 1993, there was submitted to the
voters of the City of Little Rock (the "City") the question of issuing capital improvement
bonds of the City in the maximum principal amount of $17,000,000 to finance the cost
of acquiring, constructing and equipping capital improvements for the public city
libraries owned and operated by the City and the Central Arkansas Library System to
be payable from a continuing ad valorem property tax to be levied at a maximum rate
of two (2.0) mills on the dollar of assessed valuation of taxable real and personal
property in the City; and
WHEREAS, upon the advice of the City Manager and City Treasurer, the Board
of Directors is now prepared to authorize the offering of the Bonds for sale, and to
approve the sale documentation, as described hereinafter.
NOW, THEREFORE, BE IT RESOLVED, BY THE BOARD OF DIRECTORS
OF THE CITY OF LITTLE ROCK, ARKANSAS, AS FOLLOWS:
SECTION 1. The Bonds shall be designated the "City of Little Rock, Arkansas
Library Construction and Improvement Bonds, Series 1994" (the "Bonds"). The Bonds,
in the aggregate principal amount of up to $17,000,000, shall be offered for sale on a
negotiated basis as may be recommended by the City Treasurer and Director of Finance
(the "Treasurer "), and approved by the Board of Directors.
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SECTION 2. The form of Preliminary Official Statement, substantially in the J 4 3
form exhibited to and before the Board of Directors at the meeting at which this
Resolution is adopted, are hereby approved.
SECTION 3. The Treasurer shall cause to be published in newspapers in the City
of New York, New York, and in Little Rock, Arkansas, within the time provided by law,
a request for proposals to serve as underwriter for the sale of the Bonds and follow the
City's policy for selection of professional services.
SECTION 4. The Treasurer, after consultation with Co -Bond Counsel, is hereby
authorized to distribute the Preliminary Official Statement to the underwriter with whom
the City negotiates, in substantially the form submitted to this meeting, with such
changes and modifications as the Treasurer shall deem appropriate, along with such
other documents as required to accomplish the sale of the bonds.
SECTION 5. The Treasurer is authorized to take such other action, and to
approve such other documents as are, in his judgment, necessary or appropriate in order
to provide for the sale of the Bonds, and accomplish the intent of this Resolution.
ADOPTED: Novmber 16, 1993
ATTEST:
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NUDMIon . F
J
APPROVED AS TO FORM:
THOMAS M. CARPENTE#
CITY ATTORNEY
APPROVED: