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ORDINANCE NO. 14,507
E
AN ORDINANCE ESTABLISHING THE CAPITOL VIEW
CENTRAL BUSINESS IMPROVEMENT DISTRICT NO. 4
OF THE CITY OF LITTLE ROCK; DECLARING AN
EMERGENCY.
M M r
WHEREAS, the parties claiming to be the owners of more than
two - thirds in value as shown by the last county assessment of the
real property within the limits of the proposed Central Business
Improvement District hereinafter described have filed a Petition
praying that an improvement district be established for the
purpose hereinafter set out; and
WHEREAS, after due notice as required by law, the Board of
Directors of the City of Little Rock, Arkansas, has heard all
parties desiring to be heard and has ascertained that said
Petition is signed by the owners of more than two - thirds in
value, as shown by the last county assessment, of the real
property within the limits of the proposed central business
improvement district;
NOW THEREFORE, BE IT ORDAINED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS:
SECTION 1: There is hereby established a Central Business
Improvement District (the "District" embracing the following
property:
Blocks 127, 128, 177, and 178, original City of
Little Rock, County of Pulaski, State of Arkansas
(being an area generally bounded on the north by
Capitol, on the east by Arch Street, on the south
by W. Seventh, and on the west by State Street).
SECTION 2: The District is being formed for the purpose of
doing all or any part of those things enumerated as powers of
such central business improvement districts in Ark. Stats. Ann.
§20 -1613 (Act 1973, No. 162, §14, as amended) and in Ark. Stats.
Ann. §20 -1625 (Act 1975, No. 403), which purposes and powers of
the District shall include but not be limited to providing
assistance to property owners, directly or indirectly, in
renovation of existing structures of real estate, and devising an
overall plan for such renovation efforts.
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SECTION 3: The District is authorized to issue revenue
bonds in accordance with Act No. 403 of 1975, as amended (the
same being Ark. Stats. Ann. §20 -1625 and following) ( "Act No.
403 "), to make loans to property owners within the boundaries of
the District in accordance with Act No. 403.
SECTION 4: The District shall be known as Capitol View
Central Business Improvement District No. 4 of the City of Little
Rock, Arkansas.
SECTION 5: Herchel T. Gardner, W. B. Tucker Jr., W. G.
Presson, James E. Dockins, and Dr. lion Moore are hereby named
Commissioners, who shall compose the Board of Commissioners for
the District. Each is either a property owner in the District or
an officer or shareholder of a corporation owning property in the
District, as required by Ark. Stats. Ann. §20 -1607.
SECTION 6: The provisions of this Ordinance are severable.
If any provisions hereof should be held to be invalid or
inapplicable to any person or circumstance, such holding shall
not affect the validity or applicability of the remainder hereof.
SECTION 7: It is hereby found and is determined that the
rapid deterioration of the property lying within the boundaries
of the proposed Capitol View Central Business Improvement
District No. 4, as described in Section 1 herein, has become a
threat to the property tax and revenue sources of the City of
Little Rock, and that the elimination of urban decay and the
modernization and general improvement of such central business
district is urgent. Therefore, an emergency is declared to
exist, and this Ordinance, being necessary for the preservation
of the public peace, health, and safety, shall take effect and be
in force from the date of its approval.
SECTION 8: This Ordinance shall be published within thirty
days of today's date one time in a Little Rock, Arkansas
newspaper.
PASSED AND APPROVED this 20th day of September, 1983.
ATTEST:
C' y Cler ne Czech
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