HomeMy WebLinkAbout8025M M r 4'M
RE$QLUTIQN NQ. 8,025
A RESOLUTION APPROVING THE ISSUANCE OF CITY
OF LITTLE ROCK, ARKANSAS HEALTH FACILITIES
BOARD (SOUTHWEST HOSPITAL) REVENUE BONDS
SERIES 1988
M M M M
WHEREAS, the City of Little Rock, Arkansas Health
Facilities Board (Southwest Hospital) (the "Board ") desires to
issue Hospital Revenue Bonds, Series 1988 in a principal amount
not to exceed $40,000,000 (the "Bonds "); and
WHEREAS, under Section 147(f) of the Internal Revenue Code
of 1986, as amended, the Bonds are "private activity bonds"
which, in order to be deemed "qualified bonds" under the Code,
are required, among other things, to be approved by each
governmental unit having jurisdiction over the area in which is
located any facility to be financed with proceeds of the Bonds;
and
WHEREAS, the approval of such governmental unit may be
granted by the applicable elected representative of such
governmental unit after a public hearing following reasonable
public notice; and
WHEREAS, the City of Little Rock, Arkansas is the
governmental unit within which will be located the facilities
financed by the proceeds of the Bonds and the Board of
Directors of the City of Little Rock, Arkansas constitutes an
elected representative of such governmental unit; and
WHEREAS, a public hearing on issuance of the Bonds was
held by the Board on October 3, 1988, following notice
published on September 18, 1988 in two newspapers of general
circulation in the City of Little Rock, Arkansas; and
WHEREAS, the Board has taken or will take all other steps
necessary to authorize the issuance of the Bonds;
NOW THEREFORE, BE IT RESOLVED by the Board of Directors of
the City of Little Rock, Arkansas:
Section 1. The Board of Directors of the City of Little
Rock, Arkansas hereby finds and determines that the
issuance of Revenue Bonds, Series 1988 for the purpose of
refinancing the facilities known as Southwest Hospital
would be in the best interests of the City of Little Rock,
Arkansas.
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Section 2. The issuance of Revenue Bonds, Series 1988 by
the City of Little Rock, Arkansas Health Facilities Board
(Southwest Hospital) in a principal amount not to exceed
$40,000,000 is hereby approved.
Section 3. This approval is granted in fulfillment of the
requirements of Section 147(f) of the Internal Revenue
Code of 1986, as amended, that private activity bonds, in
order to be qualified, be approved by the governmental
unit having jurisdiction over the area in which is located
any facility to be financed with the proceeds of such
bonds.
PASSED
ATTEST:
October 4, 1988.
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APPROVED:
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Mayor . ,� . .
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