HomeMy WebLinkAbout7031RESOLUTION NO. 7,031
A RESOLUTION ENDORSING AND ENCOURAGING THE EFFORTS
OF THE LITTLE ROCK PORT AUTHORITY IN SEEKING THE
NECESSARY FINANCING FOR THE DEVELOPMENT OF A
SLACKWATER CHANNEL AND HARBOR FACILITY.
WHEREAS, the Little Rock Port Authority was created by the
City of Little Rock by Ordinance No. 10,957 on July 6, 1959; and,
WHEREAS, the Ordinance specifically charged the Port
Authority Board of Directors with "the broad objective of
developing to the utmost the port possibilities of the City of
Little Rock "; and,
WHEREAS, the Port Authority has developed a 1500 -acre
industrial and commercial park consisting of twenty (20)
industrial and commercial facilities employing approximately 1000
citizens with combined annual payrolls in excess of $10,000,000;
and,
WHEREAS, the Port Authority presently offers for public use
(1) on and off loading wharf and dock facilities, (2) a
30,000- square foot transit shed, (3) barge mooring devices, (4) a
104,000- square -foot building which houses Foreign Trade Zone No.
14, and (5) a railroad marshalling yard and industrial spurs with
switching operations; and,
WHEREAS, the continued development of the Port Authority
now requires the development of approximately 300 acres owned by
the Port Authority and the phased construction and installation
of a slackwater channel and harbor facility at a cost of
approximately $4,500,000; and,
WHEREAS, the United States Corps of Engineers has studied
the project and found the benefits to outweigh the cost; and,
WHEREAS, the Corps of Engineers is considering the
expenditure of $2,000,000 under Section 107 of its regulations,
provided the Port Authority provides matching funds in the amount
of $2,500,000 toward the construction and installation of the
slackwater channel and harbor facility; and,
li
RESOLUTION NO. 7,031
A RESOLUTION ENDORSING AND ENCOURAGING THE EFFORTS
OF THE LITTLE ROCK PORT AUTHORITY IN SEEKING THE
NECESSARY FINANCING FOR THE DEVELOPMENT OF A
SLACKWATER CHANNEL AND HARBOR FACILITY.
WHEREAS, the Little Rock Port Authority was created by the
City of Little Rock by Ordinance No. 10,957 on July 6, 1959; and,
WHEREAS, the Ordinance specifically charged the Port
Authority Board of Directors with "the broad objective of
developing to the utmost the port possibilities of the City of
Little Rock "; and,
WHEREAS, the Port Authority has developed a 1500 -acre
industrial and commercial park consisting of twenty (20)
industrial and commercial facilities employing approximately 1000
citizens with combined annual payrolls in excess of $10,000,000;
and,
WHEREAS, the Port Authority presently offers for public use
(1) on and off loading wharf and dock facilities, (2) a
30,000- square foot transit shed, (3) barge mooring devices, (4) a
104,000- square -foot building which houses Foreign Trade Zone No.
14, and (5) a railroad marshalling yard and industrial spurs with
switching operations; and,
WHEREAS, the continued development of the Port Authority
now requires the development of approximately 300 acres owned by
the Port Authority and the phased construction and installation
of a slackwater channel and harbor facility at a cost of
approximately $4,500,000; and,
WHEREAS, the United States Corps of Engineers has studied
the project and found the benefits to outweigh the cost; and,
WHEREAS, the Corps of Engineers is considering the
expenditure of $2,000,000 under Section 107 of its regulations,
provided the Port Authority provides matching funds in the amount
of $2,500,000 toward the construction and installation of the
slackwater channel and harbor facility; and,
WHEREAS, the Port Authority is actively seeking through all
sources, including the City of Little Rock, the ways and means of
financing its part of the cost of constructing and installing the
slackwater channel and harbor facilities through the issuance of
general obligation bonds and /or revenue bonds or otherwise,
NOW, THEREFORE:
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF
LITTLE ROCK, ARKANSAS:
Section 1. The continued development of the Port Authority
is in the best interest of the citizens of Little Rock through
the continued creation and expansion of new jobs and payrolls,
and the efforts of the Port Authority in seeking the necessary
financing to construct and install a slackwater channel and
harbor facility are hereby endorsed and encouraged as meriting
the City's wholehearted support.
ADOPTED: July 19, 1983
ATTEST: QW., APPROVED: �. �1_,"®
Ci Clerk Czech Mayor �U� a e