HomeMy WebLinkAbout66-85 RESOLUTIONRESOLUTION NO.
60-85
A RESOLUTION APPROVING THE ISSUANCE BY THE CENTRAL
BUSINESS IMPROVEMENT DISTRICT NO. 1 OF THE CITY OF
FAYETTEVILLE, ARKANSAS OF NOT TO EXCEED $885,000
PRINCIPAL AMOUNT OF ITS REVENUE BONDS (SOUTHSIDE
PROJECT) SERIES 1985 A.
WHEREAS, the Board of Commissioners of Central Business
Improvement District No. 1 of the City of Fayetteville, Arkansas
(the "District") will adopt a resolution indicating its intent
to issue not more than $885,000 principal amount of the
District's Revenue Bonds (Southside Project) Series 1985 A (the
"Bonds"); and
WHEREAS, a public hearing will be held by the Board of
Commissioners of the District on June 25, 1985, regarding the
issuance of the Bonds following publication of a notice of
public hearing; and
WHEREAS, pursuant to the provisions of the Tax Equity and
Fiscal Responsibility Act of 1982, it is necessary for federal
income taxation purposes that the issuance of the Bonds be
approved by the Board of Directors of the City of Fayetteville,
Arkansas; and
WHEREAS, the Board of Directors of the City of -
Fayetteville, Arkansas, finds that the public purposes for which
the Bonds are to be issued serve a proper need;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE CITY OF FAYETTEVILLE, ARKANSAS:
•
1. That the issuance by the District of $885,000
principal amount of its Revenue Bonds (Southside Project),
Series 1985 A, be and the same is hereby approved.
2. That this Resolution is adopted solely for the purpose
of complying with the provisions of the Tax Equity and Fiscal
Responsibility Act of 1982, and by the adoption of this
Resolution, the City of Fayetteville has not assumed any direct
or indirect financial responsibility for the payment of the
Bonds.
3. That this Resolution shall be in effect from and after
its passage and approval.
ADOPTED: June 18
1140A
, 1985.
•
CERTIFICATE
STATE OF ARKANSAS )
COUNTY OF WASHINGTON)
1
I, Suzanne Kennedy, City Clerk, within and for the city
aforesaid, do hereby certify that the foregoing is a true and
correct copy of Resolution No. 60-85
of the Resolutions
o f the City of Fayetteville, Arkansas entitled: "A RESOLUTION
APPROVING THE ISSUANCE BY THE CENTRAL BUSINESS IMPROVEMENT
DISTRICT NO. 1 OF THE CITY OF FAYETTEVILLE, ARKANSAS OF NOT TO
EXCEED $885,000 PRINCIPAL AMOUNT OF ITS REVENUE BONDS (SOUTHSIDE
PROJECT) SERIES 1985 A"; adopted by the Board of Directors of
said City on
June 18
, 1985, as the same now appears of
✓ ecord in this office.
IN WITNESS WHEREOF, I have hereunto set my hand and seal of
o ffice on this 18 day of June , 1985.
1140A
lerk
Cit of Fayettevi le, Arka