HomeMy WebLinkAbout9798• Resolution No. 9,798 572 •
A RESOLUTION SETTING A DATE FOR A PUBLIC HEARING ON THE QUESTION OF
THE ISSUANCE OF CAPITAL IMPROVEMENT BONDS BY THE CITY OF LITTLE ROCK,
ARKANSAS RESIDENTIAL HOUSING AND PUBLIC FACILITIES BOARD
WHEREAS, the City of Little Rock, Arkansas Residential Housing and Public Facilities
Board (the "Facilities Board ") proposes to issue not to exceed $800,000 of its capital
improvement revenue bonds for the purpose of constructing an auditorium (the "Project ") for
lease to the Central Arkansas Library System ( "CALS "); and
WHEREAS, CALS is the legal entity created by an interlocal cooperation agreement duly
entered into by Pulaski County, Arkansas, Perry County, Arkansas, and the City of Little Rock,
Arkansas (the "City"), pursuant to the Interlocal Cooperation Act of the State of Arkansas,
codified as Ark. Code Ann. §§ 25 -20 -101 et seq. (1996 Repl.), for the purpose of providing
library services to the public; and
WHEREAS, the Project was originally contemplated to be financed by the City from funds
of the City allocated to the construction of the new main library facility at Second and
Cumberland Streets in the City but which funds have now been determined to be insufficient to
permit the construction of the auditorium; and
WHEREAS, the construction of the auditorium will greatly enhance the ability of CALS
to serve residents of the City and be of benefit to the public in general; and
WHEREAS, pursuant to State and federal law applicable to the issuance of revenue bonds
by the Facilities Board, it is required that such issuance be approved by the Board of Directors
of the City of Little Rock, following a public hearing, as to which reasonable notice thereof shall
have been given by a publication of notice in a newspaper of general circulation within the City;
Now, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF
LITTLE ROCK, ARKANSAS, THAT:
SECTION 1. A public hearing on the question of the issuance of revenue bonds for the
purposes recited above by the City of Little Rock, Arkansas Residential .Housing and Public
Facilities Board be held at the regular meeting of the Board of Directors to be held at 6:00 p.m.,
Little Rock City Hall, 500 West Markham, Little Rock, Arkansas, on October 15, 1996, and
that the City Clerk shall assure that notice thereof is published in the time and manner provided
by law.
SECTION 2. This resolution shall be effective from and after its passage and approval.
ADOPTED: Seiteinber 1i7, 1996,
Attest:
Robbie Hancock, City Clerk
Approo ed as to Form:
m •rr�- �..
Thomas M. Carpenter
City Attorney
Approved•
Jim
1baA ey, Mayor