HomeMy WebLinkAbout7083RESOLUTION NO. 7,083 126
A RESOLUTION PERTAINING TO FUNDS OF THE PROCEEDS OF
THE CITY OF LITTLE ROCK HOTEL AND RESTAURANT GROSS
RECEIPTS TAX BONDS (LITTLE ROCK CIVIC- CENTER
PROJECT), SERIES 1980, ALLOCATED TO ASSIST IN
DEFRAYING THE COST OF PROVIDING OFF STREET PARKING
FACILITIES NECESSARY TO ACCOMMODATE THE
CIVIC - CONVENTION HOTEL CENTER AT MARKHAM AND MAIN
STREETS, LITTLE ROCK, ARKANSAS; AND FOR OTHER
PURPOSES
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF LITTLE
ROCK, ARKANSAS.
WHEREAS, the Advertising & Promotion Commission of the City of
Little Rock, Arkansas has reported that all construction costs for the
State House Convention Center at Markham and Main Streets, Little
Rock, Arkansas have been fully paid and that it is most important to
proceed now with closing the Construction Account for such with the
First Commercial Bank Trustee for the proceeds of the City of Little
Rock Hotel and Restaurant Gross Receipts Tax Bonds (Little Rock
Civic - Center Project), Series 1980; and
WHEREAS, the sum of $379,826.34 remaining of the $400,000.00
0� allocated by the Indenture for the above mentioned bonds to be used
towards providing off street parking facilities for the benefit of
Qom`
said State House Convention Center should be withdrawn from the Bond
Construction Fund at First Commercial Bank and redeposited in an
interest bearing Trust Account at said bank in the name of the City of
Little Rock, subject to withdrawal and use by the Advertising &
Promotion Commission, with approval of the Board of Directors and the
Little Rock Municipal Parking Authority, in providing off street
parking facilities accommodating the State House Convention Center and
other parking needs in the downtown Little Rock area.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
CITY OF LITTLE ROCK, ARKANSAS.
�i SECTION 1. The Advertising & Promotion Commission and the First
�y9 Commercial Bank are hereby authorized to withdraw the sum of
(# $379,826.34 from the Bond Construction Fund created, funded and
v allocated by the Indenture for the City of Little Rock Hotel and
mom M
Project) , Series 1980, and redeposit same at said bank in a separate
interest bearing Trust Account in the name of the City of Little Rock
subject to being drawn against, from time to time, by the Advertising
& Promotion Commission, with approval of the City of Little Rock and
the Little Rock Municipal Parking Authority and used in providing off
street parking facilities needed to accommodate the State House
Convention Center at Markham and Main Streets in Little Rock,
Arkansas and other parking needs in the downtown Little Rock area.
SECTION 2. All laws and parts of laws of the City of Little
Rock in conflict herewith are hereby repealed.
SECTION 3. This Resolution shall be in full force and effect
from and after its adoption.
ADOPTED: November 1, 1983
ATTEST: APPROVED:
191ty Clerk Jane Czech Mayor J. W. Benafield
-2-
127
Restaurant Gross Receipts
Tax Bonds
(Little Rock Civic - Center
Project) , Series 1980, and redeposit same at said bank in a separate
interest bearing Trust Account in the name of the City of Little Rock
subject to being drawn against, from time to time, by the Advertising
& Promotion Commission, with approval of the City of Little Rock and
the Little Rock Municipal Parking Authority and used in providing off
street parking facilities needed to accommodate the State House
Convention Center at Markham and Main Streets in Little Rock,
Arkansas and other parking needs in the downtown Little Rock area.
SECTION 2. All laws and parts of laws of the City of Little
Rock in conflict herewith are hereby repealed.
SECTION 3. This Resolution shall be in full force and effect
from and after its adoption.
ADOPTED: November 1, 1983
ATTEST: APPROVED:
191ty Clerk Jane Czech Mayor J. W. Benafield