HomeMy WebLinkAbout7258RESOLUTION NO. 7,258 44
RESOLUTION ACCEPTING THE RECOMMENDATION OF
THE LITTLE ROCK AMBULANCE AUTHORITY FOR THE
AMBULANCE SYSTEM LONG -TERM FINANCING NEEDS.
WHEREAS, the Board of Directors of the City of Little
Rock passed Ordinance No. 14,681 which approved February 1,
1985 as the permanent system start up date and allowed for
a municipal lease arrangement for long -term ambulance system
financing; and
WHEREAS, seven (7) proposals addressing a $2,000,000
long -term financing need were submitted and evaluated based
upon certain criteria by City and Authority representatives;
and
WHEREAS, the Little Rock Ambulance Authority recommends
the acceptance of the Stephens, Inc. / Management Improvement
Corporation of America (MICA) proposal for the following
reasons: 1) Overall compliance with evaluation criteria,
2) lower first years cost which would reduce the annual
contingent liability of the City / Authority and therefore,
address the Authority's concern for cash flow in the first
years of operation and 3) local accessibility and sensitivity
which adds comfort in the event of future problems and /or
needs for refinancing.
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors
of the City of Little Rock:
SECTION 1. The recommendation of the Little Rock Ambulance
Authority is accepted and the City of Little Rock Board of
Directors expresses its intent to approve a contract contingent
upon all contract provisions being mutually agreed upon and
contingent upon Stephens, Inc. / Management Improvement
Corporation of America (MICA) meeting all City requirements.
SECTION 2. This Resolution shall be in full force and
effect from and after its adoption and approval.
ADOPTED: September 12, 1984
ATTEST: APPROVED
City Clerk
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