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ORDINANCE NO. 13.955
AN ORDINANCE AMMING ORDINANCE NO. 13,683 M ESTABLISH
CONTINUING ADMINISTRATIVE FEES TO BE IMPOSED IN ADDI-
TION TO THE INITIAL FEES PR07IOUSLY ESTABLISHED BY
ORDINANCE NO. 13,683 FOR ACT 9 INDUSTRIAL DEVELOPMENT
BOND ISSUES AND AMEND'[ELVT 49 INDUSTRIAL DEVELOPMENT
BOND ISSUES; AND FOR OTHM PURPOSES.
WHEREAS, information has been presented by the Staff regarding
services perfo-nned by Staff members for Act 9 and Amendment 49 Bond Issues;
and
WHEREAS, it has been recommended that the initial fees previously
established by Ordinance No. 13,683 be retained and certain continuing
administrative fees also be established.
NOW Tf-IEREFORE, BE IT ORDAINED BY THE BOARD OF DIRECTORS OF THE CITY
OF LITTLE ROCK, ARKANSAS:
SECTION 1. Sections 1, 2 and 3 of Ordinance No. 13,683 are hereby
amended to read as follows:
SECTION 1. A charge for administrative services provided by the
City in the issuance of certain revenue bonds is hereby established.
SECTION 2. The charges established herein shall apply to the
following revenue bond issues:
(A) Act 9 Industrial Development Bonds;
(B) Amendment 49 - Industrial Development Bond issues for
financing privately owned facilities.
SECTION 3. The following charges are hereby established:
INITIAL CHARGE
MINIl41JM - All Issues - Payable with Request
For Bond Issue
ADDITIONAL CHARGES - Payable when Bonds are
Issued:
(a) $1.00 Per $1,000
$2,500
$1,000,000 - $2,000,000 $1,000 $3,500
$2,000,000- $3,000,000 1,000 4,500
(b) $.75 Per $1,000
$3,000,000 - $4,000,000
$ 750
$5,250
$4,000,000- 85,000,000
750
6,000
(c) $.50 Per $1,000
$5,000,000- $6,000,000
$ 500
$6,500
$6,000,000 - $7,000,000
500
7,000
(d) $.25 Per fit, 000
$7,000,000 - $8,000,000
$ 250
$7,250
$8,000,000- $9,000,000
250
7,500
$9,000,000 - $10,000,000
250
7,750
(e) $.15 Per $1,000 above $10,000,000
ANNUAL CHARGE - Payable each year with paynent in lieu of
taxes:
AMOUNT OF ISSUE ANNUAL CHARGE
Up to $500,000
8 500
$ 501,000
to
$1,000,000
600
1,001,000
to
2,000,000
700
2,001,000
to
3,000,000
800
3,001,000
to
4,000,000
900
4,001,000
to
5,000,000
1,000
5,001,000
to
6,000,000
1,100
6,001,000
to
7,000,000
1,200
7,001,000
to
8,000,000
1,300
8,001,000
to
9,000,000
1,400
9,001,000
to
10,000,000
1,500
SECTION 2. This Ordinance shall be in full force and effect fran
and after its passage and approval.
PASSED: December 16, 1980
ATTEST:
City Clerk