HomeMy WebLinkAbout03-10-09Little Rock Board of Directors Reconvened Meeting
March 10, 2009
4:00 P.M.
MINUTES
BOARD OF DIRECTORS RECONVENED MEETING
City Hall — 500 W. Markham
March 10, 2009
4:00 PM
The Board of Directors of the City of Little Rock, Arkansas, met in a reconvened session
with Mayor Stodola presiding. Nancy Wood, City Clerk, called the roll. The following
Directors present: Hendrix, Richardson; Adcock; Keck; Hurst; Wyrick; Wright; Cazort;
Vice Mayor Fortson; and Mayor Stodola. Director Kumpuris was absent at roll call, and
was not present for the vote, but enrolled shortly after the vote had taken place.
Mr. Reggie Corbitt gave a presentation on the 2008 Sierra Club Compliance Report.
12. PUBLIC HEARING & ORDINANCE — Authorizing the construction and
improvements to the Sewer System of the City of Little Rock, Arkansas; authorizing the
issuance of a Sewer Revenue Bond, Series 2009A for the purpose of financing the cost
thereof, providing for the payment of the principal and interest on the bond; prescribing
other matters relating thereto. (1St and 2nd Readings were held on February 3, 2009) The
Little Rock Board of Directors Meeting of March 3, 2009, was recessed for the purpose
of having the third reading on the ordinance and to hear the 2008 Sierra Club Compliance
Report.
Mayor Stodola asked if Item 12 could be taken care of first, and then to have the
presentation. Mr. Bryan Day, Assistant City Manager, stated that there would not be an
actual presentation. He stated that there is a written report and executive summary which
has been passed out to the Board Members.
A motion was made by Director Adcock seconded by Director Cazort to have the third
reading of the ordinance. By unanimous voice vote of the Board Members present being
two - thirds in number the motion carried. The ordinance was read the third time.
Director Kumpuris was absent at the time of vote.
Mayor Stodola announced that the reason for the delay in having the third reading of the
ordinance was due to trying to secure a more favorable interest rate.
Mr. Reggie Corbitt, Executive Director of the Little Rock Wastewater Utility, stated that
through the stimulus package, some monies had become available and they were able to
get the interest reduced from 3.25% to 2% which would be a 1.25 million dollars less in
interest paid over the term of the bond, and Mr. Russell, bond counsel, had been able to
secure that reduction.
Little Rock Board of Directors Reconvened Meeting
March 10, 2009
4:00 P.M.
A motion was made by Vice Mayor Fortson, seconded by Director Adcock to adjourn the
meeting. By unanimous vice vote of the Board Members present the meeting was
adjourned at 4:15 P.M.
APPROVE:
1
Mark Stodola, Mayor