HomeMy WebLinkAbout13521ORDINANCE NO. 13,521
AN ORDINANCE RATIFYING AN ORDINANCE PREVIOUSLY
ADOPTED AND THE AUTHORIZATION TO ISSUE CITY OF
LITTLE ROCK, ARKANSAS INDUSTRIAL DEVELOPMENT
BONDS; CONFIRMING OTHER MATTERS PERTAINING
THERETO; AND DECLARING AN EMERGENCY.
WHEREAS, the Board of Directors of the City of Little
Rock, Arkansas (the "City "), by Ordinance No. 13,490 of the ordi-
nances of the City, adopted and approved August 15, 1978, autho-
rized the issuance by the City of its Industrial Development Reve-
nue Bonds, in the form of a single Secured Revenue Note, Series
1978 (the "Bonds "), and other matters pertaining thereto; and
WHEREAS, due to a procedural deficiency in the required
notice under Act No. 9, it is necessary that Ordinance No. 13,490
be ratified;
NOW, THEREFORE, BE IT RESOLVED by the Board of Directors
of the City of Little Rock, Arkansas:
Section 1. That Ordinance No. 13,490 is hereby ratified
and confirmed in all respects.
Section 2. That it has been found and is hereby declared
that the issuance of the Bonds is essential to the financing of
the industrial facilities for the financing of which they were
authorized and that those facilities are necessary for the con-
tinued industrial development of the City and the continued payrolls
and other economic benefits to be derived therefrom. Therefore,
an emergency is declared to exist and this Ordinance being necessary
for the preservation of the public peace, health and safety shall
be in force and take effect immediately upon and after its passage.
PASSED: October 17, 1978
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