HomeMy WebLinkAbout7703473
RESOLUTION NO. 7,703
A RESOLUTION APPROVING THE ISSUANCE OF
REFUNDING REVENUE BONDS BY THE CITY OF
LITTLE ROCK, ARKANSAS HEALTH FACILITIES
BOARD (BAPTIST MEDICAL CENTER); AND FOR
OTHER PURPOSES.
WHEREAS, the City of Little Rock, Arkansas Health
Facilities Board (Baptist Medical Center) the "Board ") was
created by Ordinance No. 13,700, adopted and approved August 7,
1979 (the "Enabling Ordinance ") for the purpose of financing
facilities for use by Baptist Medical Center, in order to assist
Baptist Medical Center in continuing to meet the requirements of
the inhabitants of the City of Little Rock, Arkansas (the
"City ") and of the State of Arkansas for health care, pursuant
to the Constitution and laws of the State of Arkansas, including
particularly, Act No. 142 of 1975, as amended (the "Act "); and
WHEREAS, pursuant to the Act, the Enabling Ordinance
and the approval set forth in Resolution No. 7150, adopted
February 21, 1984, the Board issued its Healthcare Revenue
Bonds, Series 1984 (ARI Project), dated September 1, 1984 (the
"Series 1984 Bonds ") for the purpose of financing the acquisi-
tion, construction and equipping of a five story, 112,000 - square
foot rehabilitation hospital (the "Project "); and
WHEREAS, the Project is located adjacent to Baptist
Medical Center at 960, Interstate 630 (Exit 7), Little Rock,
Arkansas 72205 -7249 and is owned by Baptist Medical System, an
Arkansas nonprofit corporation; and
WHEREAS, it is proposed to refund the Series 1984
Bonds, by the issuance of the Board's refunding revenue bonds in
the principal amount of not to exceed $23,000,000 (the "Bonds "),
at lower rates of interest, in order that interest rate savings
may be achieved; and
WHEREAS, the issuance of the Bonds and the refunding
of the Series 1984 Bonds is plainly in the interest of the City
and of those who may make use of the Project and of Baptist
Medical Center;
NOW THEREFORE, Be It Resolved by the Board of Direc-
tors of the City of Little Rock, Arkansas:
Section 1. Pursuant to the terms of the Act and of
the Enabling Ordinance, the issuance of the Bonds by the Board
is hereby approved.
E -�
Section 2. The authority of the Board and its offi-
cers to execute and deliver such writings and to take such
action as may be appropriate to the issuance of the Bonds and
the consummation of such transactions as may be incidental or
related thereto is hereby ratified and confirmed.
Section 3. All resolutions and parts thereof in
conflict herewith are hereby repealed to the extent of such
conflict.
Section 4. This Resolution shall be in effect upon
its passage and approval.
Adopted: December 16 , 1986
ATTEST:
City Cler-KAJane Czech
(SEAL)
APPROVED: y/� Ma 'IV -
Mayor Thomas A. Prince
474