HomeMy WebLinkAbout15727i •
265
ORDINANCE NO. 15,727
AN ORDINANCE AUTHORIZING THE ISSUANCE OF REVENUE BONDS
BY THE CITY OF LITTLE ROCK, ARKANSAS HEALTH FACILITIES
BOARD (COMMUNITY LIFE SERVICES); PRESCRIBING OTHER
MATTERS RELATING THERETO; AND DECLARING AN EMERGENCY.
WHEREAS, by Ordinance No. 15,716 adopted July 18, 1989,
the Board of Directors of the City of Little Rock, Arkansas (the
11�: 11 ), teJ -1 1-- t G Rock, Arkansas
creaU 11C y VL Heal
L
t11
Facilities Board (Community Life Services) (the "Board "); and
WHEREAS, the Board currently proposes to issue not to
exceed $810,000 of its revenue bonds (the "Bonds ") to finance
the acquiring, constructing and equipping of two 10 -bed
intermediate care facilities for the mentally handicapped
located on a .76 -acre tract approximately 177.56 feet south of
the southeast corner of Michael Drive and Kanis Road in the City
(the "Project "), which facilities will be owned by Community
Life Services, Inc., an Arkansas nonprofit corporation; and
WHEREAS, a public hearing on the question of the
issuance of the Bonds has been held before the Board of
Directors on this day following the publication of a notice of
such hearing in a newspaper of general circulation within the
City at least 14 days in advance of the hearing; and
WHEREAS, the Board of Directors of the City has
determined that the public purposes for which the Bonds are to
be issued serve a proper need;
NOW, THEREFORE, BE IT ORDAINED by the Board of
Directors of the City of Little Rock, Arkansas:
Section 1. That the issuance of the Bonds by the
Board to finance the Project is hereby authorized and is in all
respects approved.
Section 2. That by the adoption of this Ordinance the
City assumes no liability or responsibility for the repayment of
the Bonds.
Section 3. That the provisions of this Ordinance are
hereby declared to be separable and if any provisions shall for
any reason be held illegal or invalid, such holdings shall not
affect the validity of the remainder of this Ordinance.
Section 4. That it is hereby ascertained and declared
that the Project must be accomplished as soon as possible in
order to promote the health, safety, and welfare of the City,
b-b9
Q-3
0
0
its inhabitants, and their property, and that the Project can be
accomplished only by the issuance of the Bonds. It is,
therefore, declared that an emergency exists and this Ordinance
being necessary for the immediate preservation of the public
peace, health, and safety shall take effect and be in force from
and after its passage.
PASSED AND APPROVED THIS 1st day f August 1989.
LIT
MaydiJ F1 d G. Villines, III
ATTEST:
Cit& Clerk Jane Czech
(SEAL)
266