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RESOLUTION NO. 7,073
• RESOLUTION CONFIRMING THE AUTHORIZATION OF
• TRUST INDENTURE SECURING HEALTH CARE
REVENUE BONDS, AND THE AUTHORIZATION OF A
LEASE AND AGREEMENT BETWEEN THE CITY OF
LITTLE ROCK, ARKANSAS, AS LESSOR, AND BH &G
PROPERTIES, AS LESSEE; AND AUTHORIZING AND
PRESCRIBING OTHER MATTERS PERTAINING
THERETO.
WHEREAS, the City of Little Rock, Arkansas (the "City)
adopted Ordinance No. 14,481, passed and approved on the 19th day
of July, 1983, as amended by Ordinance No. 14,509, passed and
approved on the 20th day of September, 1983 (collectively
"Ordinance No. 14,481 "), which authorized the issuance and sale of
the City's Health Care Revenue Bonds - BH &G Properties Project,
Series 1983 in an aggregate principal amount of not to exceed
$2,060,000 (the "Bonds "), pursuant to the provisions of Act No.
175 of the Acts of Arkansas of 1961, as amended; and
WHEREAS, Ordinance No. 14,481 authorized the execution
and delivery of a Trust Indenture securing the Bonds, by and
between the City and a bank or trust company or savings and loan
association which would act as Trustee thereunder (the
"Indenture "), and the execution and delivery of a Lease and
Agreement (the "Lease Agreement "), by and between the City as
Lessor, and BH &G Properties, an Arkansas general partnership, as
Lessee (the "Lessee "), in substantially the form submitted to the
meeting of the Board of Directors on the 20th day of September,
1983; and
WHEREAS, the Bonds are being issued to finance the cost
of acquiring, constructing and equipping a medical office
building containing approximately 12,903 square feet to be
located on Kanis Road between Baptist Medical Center and John
Barrow Road (the "Project "). The Project, including land,
building, improvements, machinery and equipment will be owned by
the City and leased to the Lessee for lease rentals sufficient to
provide for the payment of the principal of, premium, if any, and
interest on the Bonds; and
WHEREAS, the final forms of the Indenture and Lease
Agreement, copies of which have been presented to and are before
this meeting, reflect changes in certain provisions of the
Indenture and Lease Agreement, including, without limitation, the
provisions relating to the issuance of a letter of credit securing
the Bonds;
105
106
NOW THEREFORE, BE IT RESOLVED by the Board of Directors
of the City of Little Rock, Arkansas:
Section 1. That the previous authorization of the
issuance and sale of the Bonds and the execution and delivery of
the Indenture and the Lease Agreement in the forms submitted to
this meeting by the Mayor and City Clerk, is hereby confirmed and
ratified in all respects.
Section 2. That the City Clerk is hereby authorized and
directed to file in the office of the City Clerk, as a part of the
minutes of the meeting at which this Resolution is adopted, for
inspection by any interested person copies of the Indenture and
the Lease Agreement, and such documents shall be on file for
inspection by any interested person.
Section 3. That Ordinance No. 14,481 is continued in
full force and effect.
PASSED: October 18 1983.
ATTEST•
City erk Jane Czech
(SEAL)
107
APPROVED:
Mayor J. WYlienai'ield