HomeMy WebLinkAbout218-10 RESOLUTIONRESOLUTION NO. 218-10
A RESOLUTION TO RATIFY THE AMENDED RESOLUTION OF THE
FAYETTEVILLE PUBLIC FACILITIES BOARD WHICH CHANGES THE
UNDERWRITING OF THE BONDS FROM LANCASTER POLLARD AND
COMPANY TO STEPHENS, INC.
WHEREAS, Lancaster Pollard & Company had been named as the underwriter for the
sale of about $19 million in refinancing bonds by the Fayetteville Public Facilities Board; and
WHEREAS, the costs to be charged by Lancaster Pollard and Company exceeded the
amount desired by the Fayetteville Public Facilities Board, but Stephens, Inc. agreed to
underwrite the bonds at the lower cost desired by the Facilities Board; and
WHEREAS, the Fayetteville Public Facilities Board met Monday, December 20, 2010,
and amended its previous Resolution only by changing the underwriter from Lancaster, Pollard
and Company to Stephens, Inc.
NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF FAYETTEVILLE, ARKANSAS:
Section 1: That the City Council of the City of Fayetteville, Arkansas hereby ratifies the
Fayetteville Public Facilities Board's Resolution of December 20, 2010, which only amended the
previous Resolution by changing the underwriter from Lancaster Pollard and Company to
Stephens, Inc.
PASSED and APPROVED this 21st day of December, 2010.
APPROVED:
LI 4 NELD .140,177-
, Mayor
ATTEST:
By: Avieti,(A)
SONDRA E. SMITH, City Clerk/Treasurer
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Departmental Correspondence
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ARKANSAS
www.accessfayetteville.org
LEGAL
DEPARTMENT
TO: Mayor Jordan
City Council
FROM: Kit Williams, City Attorney
DATE: December 17, 2010
RE: Butterfield Trail Refinancing Bonds
Kit Williams
City Attorney
Jason B. Kelley
Assistant City Attorney
Mr. Dennis Hunt informed me today that the Fayetteville Public Facilities
Board would need to pass an amended Resolution to change the underwriter of the
bonds from Lancaster Pollard and Co. to Stephens, Inc. Lancaster Pollard and Co.
wanted to charge more than Butterfield Trail Village wanted and Stephens, Inc.
agreed to the lower amount.
Alderman Rhoads will ask to suspend the rules to place this Resolution
before the City Council during your December 21St meeting.
4799730520 Hall 8 Estill 06:16:54 p.m. 12-17-2010
ueo 1, Gulu 5:9trr1 FRYETTEVILLE CITY RTTORNE 4795758315
AGENDA REQUEST
FOR COUNCIL MEETING OF December 17, 2010
2/3,
p.2
FROM:
ALDERMAN ROBERT RHOADS
ORDINANCE OR RESOLUTION TITLE AND SUBJECT:
A Resolution To Ratify The Amended Resolution Of The Fayetteville Public Facilities Board
Which Changes The Underwriting Of The Bonds From Lancaster Pollard And Company To
Stephens, Inc.
APPROVED FOR AGENDA:
Berman Robert Rhoads Date
11
k
City Attorney
(as to form)
J?/ /7( ro
Date
RESOLUTION NO.
A RESOLUTION TO RATIFY THE AMENDED RESOLUTION OF THE
FAYETTEVILLE PUBLIC FACILITIES BOARD WHICH CHANGES THE
UNDERWRITING OF THE BONDS FROM LANCASTER POLLARD AND
COMPANY TO STEPHENS, INC.
WHEREAS, Lancaster Pollard & Company had been named as the underwriter for the
sale of about $19 million in refinancing bonds by the Fayetteville Public Facilities Board; and
WHEREAS, the costs to be charged by Lancaster Pollard and Company exceeded the
amount desired by the Fayetteville Public Facilities Board, but Stephens, Inc. agreed to
underwrite the bonds at the lower cost desired by the Facilities Board; and
WHEREAS, the Fayetteville Public Facilities Board met Monday, December 20, 2010,
and amended its previous Resolution only by changing the underwriter from Lancaster, Pollard
and Company to Stephens, Inc.
NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF FAYETTEVILLE, ARKANSAS:
Section 1: That the City Council of the City of Fayetteville, Arkansas hereby ratifies the
Fayetteville Public Facilities Board's Resolution of December 20, 2010, which only amended the
previous Resolution by changing the underwriter from Lancaster Pollard and Company to
Stephens, Inc.
PASSED and APPROVED this 21st day of December, 2010.
APPROVED: ATTEST:
By: By:
LIONELD JORDAN, Mayor SONDRA E. SMITH, City Clerk/Treasurer