HomeMy WebLinkAbout134181 RESOLUTION NO. 13,418
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3 A RESOLUTION TO AUTHORIZE THE MAYOR TO ISSUE A LETTER
4 OF SUPPORT TO THE ARKANSAS DEVELOPMENT FINANCE
5 AUTHORITY FOR FULL REHABILITATION OF THE ALBERT PIKE
6 HOTEL, LOCATED AT 701 SCOTT STREET, IN THE CITY OF LITTLE
7 ROCK, ARKANSAS; AND FOR OTHER PURPOSES.
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9 WHEREAS, a proposed project has been submitted for the full rehabilitation of the Albert Pike Hotel
10 at 701 Scott Street and has been reviewed in accordance with the City's process, and
11 WHEREAS, the project is to be financed through tax - exempt bonds issued to the Arkansas
12 Development Finance Authority, which has requested a letter of support from the Mayor before the
13 project can be approved for tax - exempt bond financing with tax credits.
14 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
15 OF LITTLE ROCK, ARKANSAS:
16 Section 1. The Board of Directors hereby authorizes the Mayor to issue a letter of support for the full
17 rehabilitation of the Albert Pike Hotel, located at 701 Scott Street, through tax - exempt bonds issued by
18 the Arkansas Development Finance Authority.
19 Section 2. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
20 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
21 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
22 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
23 resolution.
24 Section 3. Repealer. All laws, ordinances, resolutions, or parts of the same, that are inconsistent
25 with the provisions of this resolution, are hereby repealed to the extent of such inconsistency.
26 Section 4. This resolution shall be in full force and effect from and after its adoption.
27 ADOPTED: January 3, 2012
28 AT ST- APPROVED:
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31 usan g , City Clerk Mark Stodola, Mayor
32 APPRO ED AS TO LEGAL FORM:
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35 Thomas M. Carpenter, Cit4Attorney