HomeMy WebLinkAbout12964RESOLUTION NO. 12,964
A RESOLUTION TO SET A PUBLIC HEARING ON
WHETHER TO ADOPT AN ORDINANCE TO ISSUE
CAPITAL IMPROVEMENT CONSTRUCTION AND
REFUNDING REVENUE BONDS (ZOO, PARKS AND
RECREATION PROJECTS) IN AN AMOUNT NOT TO
EXCEED $21,500,000, AND FOR OTHER PURPOSES.
WHEREAS, the City has determined that it can achieve interest cost savings and other
public benefits through the refunding of its outstanding Capital Improvement Revenue Bonds
(Parks and Recreation Projects) Series 1998A by the issuance of Capital Improvement
Construction and Refunding Revenue Bonds (Zoo, Parks and Recreation Projects) (the "Bonds ");
and
WHEREAS, the City has further determined that it may fund the acquisition,
construction, renovation, refurbishing and equipping of various zoo, parks and recreation
projects at various locations in the City by the issuance of the Bonds; and
WHEREAS, the best estimates and appraisals suggest that bonds in an amount not to
exceed $21,500,000 is the appropriate amount to authorize by ordinance, and
WHEREAS, it is required that a public hearing to discuss the issuance of these revenue
bonds be held and to consider any objections and suggestions that may be offered.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS:
Section 1. A public hearing on the question of the adoption of an ordinance to
authorize the issuance of capital improvement revenue bonds in an amount not to exceed
$21,500,000 in principal amount of City of Little Rock, Arkansas Capital Improvement
Construction and Refunding Revenue Bonds (Zoo, Parks and Recreation Projects), Series 2009,
under the authority of title 14, Chapter 164, Subchapter 4 of the Arkansas Code shall be held on
Tuesday, May 5, 2009, at 6:00 p.m., or as soon thereafter as can be held on the regular call of the
Board of Directors agenda, at Room 102 of Robinson Center, 426 Markham Street, Little Rock,
Arkansas. At such hearing all objections and suggestions will be heard and considered so the
Board of Directors can take such action on these bonds as it deems proper.
Section 2. The City Clerk is to assure that a timely notice of this public hearing is
published in accordance with Arkansas law, provided that compliance with this section may be
accomplished by the City Clerk, or by bond counsel working with the City Clerk.
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ADOPTED: April 21, 2009
ATTEST:
4 c y Wo�od, ity Clerk
2 APPR VED AS TO LEGAL FORM:
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Thomas M. Carpenter, Citp Attorney
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APPROV D:
Mark Stodola, Mayor