HomeMy WebLinkAbout04-01-921
Board of Directors Chamber
Little Rock, Arkansas
April 1, 1992 - 1:30 P.M.
The Board of Directors of the City of Little Rock, Arkansas
reconvened from the March 17, 1992, regular Board Meeting with
Mayor Sharon Priest presiding. Robbie Hancock, City Clerk,
called the roll with the following Directors present: Directors
Roy, Hollingsworth, Lewellen, Shackelford, Dailey and Catlett -
total 6; Absent - None.
With a quorum present, Mayor Priest declared the Board of
Directors in session.
A public hearing had been scheduled for this time and place
by Resolution No. 8,671, adopted March 11, 1992, and notice
thereof published on March 14, 1992, to consider the issuance and
sale of approximately $16,000,000 of refunding revenue bonds by
the City of Little Rock Health Facilities Board (Baptist Medical
Center) which would be used to refinance the 1987 Parkway Village
Project revenue bonds. The 1987 Bonds were issued for the
purpose of financing the acquisition, construction and equipping
of Parkway Village (located at 14300 Rock Creek Parkway), which
consists of living and related facilities to meet the special
needs of the elderly. Mayor Priest declared the public hearing
open. Mr. James Buttry, Bond Counsel, was present to answer
questions. In response to a question by Director Roy, Mr. Buttry
stated that the current interest rate is 9% and the new rate will
be 6 -3/4% which would result in savings of approximately $103,000
per year. The proposed refunding revenue bonds would be special
obligations of the Facilities Board only and would be guaranteed
by Baptist Medical System. No opposition was presented. Mayor
Priest declared the public hearing closed and Ordinance No.
16,189 was presented, entitled:
AN ORDINANCE APPROVING THE ISSUANCE OF REFUNDING REVENUE
BONDS BY THE CITY OF LITTLE ROCK, ARKANSAS HEALTH FACILITIES
BOARD (BAPTIST MEDICAL CENTER); DECLARING AN EMERGENCY; AND FOR
OTHER PURPOSES;
(Parkway Village Project - 14300 Rock Creek Parkway)
and the Ordinance was
suspended and the Ordin
by Director Lewellen, s
unanimous vote of the
number and two - thirds
Directors - elect. The
There was an ensuing me
Director Hollingsworth,
provide for the third
motion was unanimousl,
Directors present, heir
of the members of the I
read the first time. The rules were
ince placed on second reading upon motion
aconded by Director Dailey, and adopted by
Board Members present, being seven in
or more of the members of the Board of
)rdinance was then read the second time.
tion made by Director Dailey, seconded by
that the rules be further suspended to
ind final reading of the Ordinance. The
adopted by members of the Board of
g seven in number and two - thirds or more
oard of Directors - elect. whereunon_ thArP
was a third and last reading of the Ordinance. The passage of
the Ordinance was then submitted to an Aye and No Vote with the
results recorded as follows: Ayes - Mayor Priest, Directors Roy,
Hollingsworth, Lewellen, Shackelford and Dailey - total 6; Noes -
None; Abstained - Director Catlett - total 1; Absent - None.
The Emergency Clause contained in Section 4 of the foregoing
Ordinance was then read and adopted by the following roll call
vote: Ayes - Mayor Priest, Directors Roy, Hollingsworth,
Lewellen, Shackelford and Dailey - total 6; Noes - None;
Abstained - Director Catlett - total 1; Absent - None. The
Ordinance together with the Emergency Clause, was then declared
PASSED.
57
`f 058
Minutes
April 1, 1992
Mr. John Cain, 1501 Arch Street, addressed the Board of
Directors on behalf of the West Ninth Street Heritage and
Redevelopment Coalition, which is planning an African American
Cultural Center to be located in the Mosaic Templars Building at
9th and Broadway as soon as financing is available. However, the
building is scheduled for demolition and Mr. Cain asked what the
group can do to stop the demolition. Mr. Jim Lawson, Director
of Neighborhoods and Planning, stated that a demolition permit
has not been issued. City Manager Tom Dalton advised that
stopping the demolition would be a private court matter and not
a City issue.
There being no further business to be presented, the Board
of Directors adjourned at 1:55 o'clock P.M. to convene in regular
session on Tuesday, April 7, 1992, at 6:00 P.M.
ATTEST: APPR VED :
City Clerk Robbie Hancock Mayor Sharon Priest
2