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RESOLUTION NO. 7,515
M v M M
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
CITY OF LITTLE ROCK, TO INCREASE THE AMOUNT OF
THE LINE OF CREDIT APPROVED FOR THE ADVERTISING
AND PROMOTION COMMISSION IN DECEMBER, 1982, FROM.
$877,271.90 TO $1,107,000.00; CHANGING THE DUE
DATES FOR THE PRINCIPAL AMOUNTS OF THE LINE OF
CREDIT FROM ANNUAL DUE DATES TO A FINAL COLLECTIVE
DUE DATE OF DECEMBER 31, 1990, AND EARLIER IF
POSSIBLE.
483
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS
OF THE CITY OF LITTLE ROCK, ARKANSAS:
SECTION 1. Pursuant to a Resolution passed by the Little
Rock Advertising and Promotion Commission on November 20, 1985,
the Board of Directors for the City of Little Rock hereby raises
the amount of the line of credit approved for the Commission in
December, 1982, from $877,271.90 to $1,107,000.00.
SECTION 2. The Board of Directors also changes the due
dates for the principal amounts of the line of credit from annual
due dates to a final collective due date of December 31, 1990,
and earlier, if possible.
SECTION 3. The Advertising and Promotion Commission
shall continue to make interest payments in the amount of
one -half percent (J8) above going rates on the presently
established due dates.
ADOPTED: November 27, 1985
ATTEST:
iz� CZECH
CIT CLERK
TO /FORM:
APPROVED:
MAYOR THOMAS A. PRINCE
F ' l
TY ATTORNEY G _fib