HomeMy WebLinkAbout13850 1 RESOLUTION NO. 13,850
2
3 A RESOLUTION TO AUTHORIZE THE CITY MANAGER TO ENGAGE
4 THE FIRMS OF STEPHENS, INC., AND CREWS & ASSOCIATES TO
5 SERVE AS BOND UNDERWRITER FOR AN ISSUE OF CITY OF
6 LITTLE ROCK HOTEL AND RESTAURANT GROSS RECEIPT TAX
7 BONDS TO FINANCE IMPROVEMENTS TO ROBINSON CENTER;
8 AND FOR OTHER PURPOSES.
9
10 WHEREAS, the Board of Directors of the City of Little Rock, Arkansas, and the Little Rock
11 Advertising and Promotion Commission have determined that the City of Little Rock requires
12 professional bond underwriter services for a hotel and restaurant gross receipts tax bond issue to be issued
13 by the City of Little Rock to finance improvements to Robinson Center; and,
14 WHEREAS, an election as held on December 10, 2013, at which time the citizens agreed to use the
15 proceeds from the gross receipts tax on hotels and restaurants to issue bonds and to use the proceeds from
16 the bond issue to pay for the Robinson Center improvements; and,
17 WHEREAS, a Request for Qualifications was published requesting that firms able and desirous of
18 performing the services respond thereto; and,
19 WHEREAS, the firms of Stephens, Inc., and Crews & Associates responded thereto and were jointly
20 chosen to perform the said services, based upon qualifications and experience;
21 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
22 OF LITTLE ROCK,ARKANSAS:
23 Section 1. The City Manager is authorized to engage the firms of Stephens, Inc., and Crews &
24 Associates to provide bond underwriting services for an issue of City of Little Rock Hotel and Restaurant
25 Gross Receipt Tax to be issued by the City of Little Rock to finance improvements to Robinson Center.
26 Section 2. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
27 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
28 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
29 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
30 resolution.
31 Section 3. Repealer. All laws, ordinances, resolutions, or parts of the same,that are inconsistent with
32 the provisions of this resolution, are hereby repealed to the extent of such inconsistency.
33 ADOPTED: March 4,2014
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1 ATTEST: APPROVED:
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3 'r
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4 Sus n' ley,City Clerk Mark Stodola1yor-
5 APP 0 AS TO LEGAL FORM:
7 6`A/11-1'44 ---
8 Thomas M. Carpenter,City At1 ney
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