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RESOLUTION NO. 10,133
A RESOLUTION APPROVING THE ISSUANCE AND SALE OF CAPITAL
IMPROVEMENT REVENUE BONDS FOR THE PURPOSE OF FUNDING THE
ACQUISITION OF PARKING IMPROVEMENTS IN THE CITY OF LITTLE ROCK,
ARKANSAS; APPROVING THE PRINCIPAL AND INTEREST SCHEDULE FOR THE
BONDS AND THE TERMS AND CONDITIONS OF THE SALE OF THE BONDS AND
THE TRUST INDENTURE SECURING THE BONDS; AND PRESCRIBING OTHER
MATTERS RELATING THERETO.
595
WHEREAS, the City of Little Rock ( "City"), acting by and through the Little Rock Advertising and
Promotion Commission (the "Commission "), and for itself through the Board of Directors of the City, has
previously acknowledged the need for additional parking for automobiles to support the current expansion
of convention facilities at the Statehouse Convention Center and other office and commercial facilities
nearby; and
WHEREAS, in order to finance the acquisition of the existing parking deck and related improvements
located at Second and Main Streets (the "Project ") which is presently owned by the Metrocentre
Improvement District No. 1 of the City of Little Rock, the City intends to issue its Capital Improvement
Revenue Bonds (Second and Main Street Parking Project), Series 1997 (the "Series 1997 Bonds ") in an
aggregate principal amount of $2,530,000; and
WHEREAS, on September 30, 1997, the Board of Directors adopted Ordinance No. 17,581
approving the issuance and sale of the Series 1997 Bonds and the terms and conditions of a Trust Indenture,
a Bond Purchase Agreement and a Preliminary Official Statement relating to the Series 1997 Bonds, and
authorizing the Mayor, City Clerk and Director of Finance and Treasurer to do all things necessary to effect
the issuance and sale of the Series 1997 Bonds; and
WHEREAS, Morgan Keegan & Company, Inc., acting pursuant to the authority contained in
Ordinance No. 17,581, has undertaken the preliminary marketing of the Series 1997 Bonds to prospective
purchasers; and
WHEREAS, the Board of Directors of the City now desires to approve, ratify and confirm the actions
taken by the officers and agents of the City in connection with the issuance and sale of the Series 1997
Bonds, and the terms and conditions of the Trust Indenture, Bond Purchase Agreement and Preliminary
Official Statement relating to the Series 1997 Bonds.
NOW THEREFORE, BE IT RESOLVED by the Board of Directors of the City of Little Rock,
Arkansas:
Section 1. The approval of the issuance of the Series 1997 Bonds, and the sale of the Series 1997
Bonds to Morgan Keegan & Company, Inc. pursuant to the Bond Purchase Agreement, contained in
Ordinance No. 17,581 is hereby ratified and confirmed. The form of the Bond Purchase in the form
presented to and before this meeting is hereby ratified, confirmed and approved.
Section 2. The forms of the Trust Indenture and Preliminary Official Statement approved pursuant
to Ordinance No. 17,581 are hereby ratified, confirmed and approved, with such additions and changes
necessary to conform such documents to the terms and conditions for the Series 1997 Bonds as are contained
in the Bond Purchase Agreement.
• •
Section 3. All actions heretofore taken by the Mayor, the City Clerk, the Director of Finance and
Treasurer, and Morgan Keegan & Company, Inc. in connection with the marketing and sale of the Series np
1997 Bonds are hereby ratified, confirmed and approved. 596
Section 4. This Resolution is adopted pursuant to the authority conferred in Ordinance No. 17,581,
and Ordinance No. 17,581, together with and as supplemented by this Resolution, shall continue in full force
and effect.
Section 5, This Resolution shall be in full force and effect from and after its adoption.
ADOPTED: November 18. 1997
ATTEST:
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ROBBIE HANC CK, CITY CLERK
APPROVED AS TO FORM
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THOMAS M. CARP�ITER
CITY ATTORNEY
j:w c1056.065
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