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Home My WebLink About104-12 RESOLUTIONRESOLUTION NO. 104-12 A RESOLUTION TO APPOINT JASON TAYLOR AND ALAN HARRISON AS SUCCESSOR COMMISSIONERS FOR FAYETTEVILE MUNICIPAL PROPERTY OWNERS' IMPROVEMENT DISTRICT NO. 19 — OAICBROOKE, PHASE 1 SUBDIVISION INFRASTRUCTURE PROJECT WHEREAS, Fayetteville Municipal Property Owners' Improvement District No. 19 — Oakbrooke, Phase I Subdivision Infrastructure Project (the "District") was established upon petition of all the property owners in the District by Ordinance No. 5032 passed and approved by the Fayetteville City Council on July 3, 2007; and WHEREAS, pursuant to statute, said Ordinance appointed as commissioners of the District the three individuals named in the petition to establish the District; and WHEREAS, two commissioners have resigned; and WHEREAS, Ark. Code Ann. Sec. 14-94-107(a)(2)(A) provides that in case of a vacancy on the board of commissioners after all improvements in the district have been completed, the governing body of the municipality shall select the successor who shall be a creditor of the district or a property owner in the district; and WHEREAS, all the improvements in the District have been completed; and WHEREAS, Ark. Code Ann. Sec. 14-94-105(a)(2)(B) provides that in the event a property owner or creditor is a corporation or other legal entity, any officer, director, employee, or other designated representative of the entity may be named and appointed as a commissioner; and WHEREAS, First Community Bank is a creditor of the District and has designated its Chief Financial Officer Jason Taylor to be appointed as a commissioner; and WHEREAS, Capital Bank is a creditor of the District and has designated its Vice President Alan Harrison to be appointed as a commissioner; and WHEREAS, Jason Taylor and Alan Harrison have agreed to serve as successor commissioners for the District. 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 appoints Jason Taylor and Alan Harrison commissioners for Fayetteville Municipal Property Owners' Improvement District No. 19 — Oakbrooke, Phase I Subdivision Infrastructure Project. PASSED and APPROVED this 15th day of May, 2012. APPROVED: 13 ATTEST: By: Page 2 Resolution No. 104-12 SONDRA E SMITH, City Clerk/Treasurer ..4% . \TYOc.•Lp F S -U• • ;FAYETTEVILLE• :�3 5 I.:5:11.1.9.84 NSP�J`'' a ""(CIAC k Crty of Fayetteville Staff Review Form lift) CA"M � City Council Agenda Items ovotiLL V 161001,E and Contracts, Leases or Agreements QLWALLI 3 do Sondra Smith Submitted By 5/15/2012 City Council Meeting Date Agenda Items Only City Clerk Division Action Required: dGwed S/Y/a'C . from - terAtte' Gam. act. 5l/sjjvicz Qr. City Clerk Department Appoint Jason Taylor and Alan Harrison as successor commissioners to fill two vacancies on the Board of Commissions for Fayetteville Municipal Property Owners' Improvement District No. 19 - Oakbrooke Phase 1 Subdivision Infrastructure Project. Cost of this request Account Number Project Number Budgeted Item $ Category / Project Budget Funds Used to Date Remaining Balance Budget Adjustment Attached Program Category / Project Name Program / Project Category Name Fund Name Department Director City Attomey Ansb Avis Date Date Finance and Internal Services Director Date Previous Ordinance or Resolution # Original Contract Date: Original Contract Number: Received in City05-34-12P02:37 RCVD Clerk's Office Received in Mayor's Office Ell 1 Comments: Revised January 15, 2009 JAMES N. McCORD Attorney at Law The Fulbright Building 217 E. DICKSON STREET SUITE #102 FAYETTEVILLE, ARKANSAS 72701 TELEPHONE (479) 695-1134 FACSIMLE (479) 442-1490 ilmmccordlaw@windstream.net Hon. Lioneld Jordan, Mayor City Administration Building 113 West Mountain Street Fayetteville, AR 72701 May 4, 2012 VIA HAND DELIVERY Re: Fayetteville City Council Resolution to appoint two successor commissioners for Fayetteville Municipal Property Owners' Improvement District No. 19- Oakbrooke, Phase I Subdivision Infrastructure Project Dear Mayor Jordan: RECEIVED MAY 042012 CITY OF FAYETTEVILLE CITY CLERK'S OFFICE Enclosed is a draft Resolution for consideration by the Fayetteville City Council which would appoint Jason Taylor and Alan Harrison as successor commissioners to fill two vacancies on the Board of Commissioners for Fayetteville Municipal Property Owner's Improvement District No. 19- Oakbrooke Subdivision Infrastructure Project (the "District"). I am District Counsel. Also enclosed are e-mails which establish that Jason Taylor and Alan Harrison meet the statutory requirements for appointment as commissioners. I am e -mailing the enclosed Resolution to City Attorney Kit Williams for his review and any modifications he deems necessary. This Resolution appears to be a "routine" matter which might be appropriate for the Consent Agenda of the City Council. Please place the enclosed Resolution on the agenda for the May 15, 2012, meeting of the Fayetteville City Council. A purchaser for two lots owned by the District has executed a Real Estate Contract at a sale price approved by the District's bondholders, but the District cannot execute the contract and close the sale until two successor commissioners are appointed. All the lots in Oakbrooke, Phase I subdivision were conveyed to the District by a Commissioners' Deed executed after a foreclosure sale for delinquent improvement district taxes held pursuant to judgment entered by the Washington County Circuit Court. Should there be any questions, please contact me. Thank you for you assistance. pc: Kit Williams, City Attorney (via hand delivery) Sondra Smith, City Clerk (via hand delivery) Sincerely,/y, es N. McCord RESOLUTION NO. A RESOLUTION TO APPOINT JASON TAYLOR AND ALAN HARRISON AS SUCCESSOR COMMISSIONERS FOR FAYETTEVILE MUNICIPAL PROPERTY OWNERS' IMPROVEMENT DISTRICT NO. 19 — OAKBROOKE, PHASE 1 SUBDIVISION INFRASTRUCTURE PROJECT WHEREAS, Fayetteville Municipal Property Owners' Improvement District No. 19 — Oakbrooke, Phase I Subdivision Infrastructure Project (the "District") was established upon petition of all the property owners in the District by Ordinance No. 5032 passed and approved by the Fayetteville City Council on July 3, 2007; and WHEREAS, pursuant to statute, said Ordinance appointed as commissioners of the District the three individuals named in the petition to establish the District; and WHEREAS, two commissioners have resigned; and WHEREAS, Ark. Code Ann. Sec. 14-94-107(a)(2)(A) provides that in case of a vacancy on the board of commissioners after all improvements in the district have been completed, the governing body of the municipality shall select the successor who shall be a creditor of the district or a property owner in the district; and WHEREAS, all the improvements in the District have been completed; and WHEREAS, Ark. Code Ann. Sec. 14-94-105(a)(2)(B) provides that in the event a property owner or creditor is a corporation or other legal entity, any officer, director, employee, or other designated representative of the entity may be named and appointed as a commissioner; and WHEREAS, First Community Bank is a creditor of the District and has designated its Chief Financial Officer Jason Taylor to be appointed as a commissioner; and WHEREAS, Capital Bank is a creditor of the District and has designated its Vice President Alan Harrison to be appointed as a commissioner; and WHEREAS, Jason Taylor and Alan Harrison have agreed to serve as successor commissioners for the District. 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 appoints Jason Taylor and Alan Harrison commissioners for Fayetteville Municipal Property Owners' Improvement District No. 19 — Oakbrooke, Phase I Subdivision Infrastructure Project. PASSED and APPROVED this 5th day of June, 2012. APPROVED: ATTEST: By: By: LIONELD JORDAN, Mayor SONDRA E. SMITH, City Clerk/Treasurer Page 1 of 1 Jim McCord From. Jim McCord Dimmccordlaw@windstream.net] Sent: Thursday, May 03, 2012 4:51 PM To: 'Alan Harrison';'ttaylor@firstcommunity.net Cc: 'Nate Watson' Subject: Successor commissioners for Fayetteville MPOID No. 19- Oakbrooke, Phase 1 Subdivision Alan and Jason, Nate Watson at Merchants and Planters Bank, Trustee for owners of Bonds sold by Fayetteville MPOID No. 19- Oakbrooke, Phase I Subdivision (the "District") has advised me that each of you has agreed to be appointed as a successor commissioner to fill vacancies on the Board of Commissioners of the District. Please send me an e-mail confirming that (1) you have agreed to serve as a commissioner for the District, (2) your bank owns Bonds sold by the District and (3) you have been designated by your bank (the bondholder) to serve as a commissioner. These are all statutory requirements for you to be appointed as a successor commissioner for the District. Also, please advise of your position (title) with your bank. Upon receipt of your e-mails, I will prepare a Resolution for the Fayetteville City Council to approve which will appoint you as successor commissioners for the District; and, I will have the Resolution placed on the agenda for the earliest available City Council meeting. The MPOID law states at Ark. Code Ann. Sec. 14-94-108(d): "No member of the board shall be liable for any damages unless he or she shall have acted with a corrupt intent." Thank you for your cooperation. I look forward to working with you. Your obligations as a commissioner should require only a very small amount of your time. Jim James N McCord Attorney at Law The Fulbright Building 217 E. Dickson Street, Ste. #102 Fayetteville, AR 72701 (479) 695-1134 Phone (479) 283-6700 Cell (479) 442-1490 Fax District Counsel 5/4/2012 • Page 1 of 2 Jim McCord From: Jason Taylor [JTaylor@firstcommunity.net) Sent: Thursday, May 03, 2012 4:59 PM To: Jim McCord Cc: Dale Cole; nwatson@mandpbank com Subject: RE: Successor commissioners for Fayetteville MPOID No. 19- Oakbrooke, Phase I Subdivision Jim, I agree to serve as stated below, First Community Bank does own bonds sold by the district and I have been appointed by the bank to serve as a commissioner. My title is Chief Financial Officer. Thanks, Jason From: Jim McCord[mailto:jimmccordlaw@windstream.netj Sent: Thursday, May 03, 2012 4:51 PM To: 'Alan Harrison'; Jason Taylor Cc: 'Nate Watson' Subject: Successor commissioners for Fayetteville MPOID No. 19- Oakbrooke, Phase I Subdivision Alan and Jason, Nate Watson at Merchants and Planters Bank, Trustee for owners of Bonds sold by Fayetteville MPOID No. 19- Oakbrooke, Phase I Subdivision (the "District") has advised me that each of you has agreed to be appointed as a successor commissioner to fill vacancies on the Board of Commissioners of the District. Please send me an e-mail confirming that (1) you have agreed to serve as a commissioner for the District, (2) your bank owns Bonds sold by the District and (3) you have been designated by your bank (the bondholder) to serve as a commissioner. These are all statutory requirements for you to be appointed as a successor commissioner for the District. Also, please advise of your position (title) with your bank. Upon receipt of your e-mails, I will prepare a Resolution for the Fayetteville City Council to approve which will appoint you as successor commissioners for the District; and, I will have the Resolution placed on the agenda for the earliest available City Council meeting. The MPOID law states at Ark. Code Ann. Sec. 14-94-108(d): "No member of the board shall be liable for any damages unless he or she shall have acted with a corrupt intent." Thank you for your cooperation. I look forward to working with you. Your obligations as a commissioner should require only a very small amount of your time. Jim James N. McCord Attorney at Law The Fulbright Building 217 E. Dickson Street, Ste. #102 Fayetteville, AR 72701 (479) 695-1134 Phone (479) 283-6700 Cell (479) 442-1490 Fax District Counsel 5/4/2012 • • Jim McCord Page 1 of 2 From: Alan Harrison [Alan.Harrison@thecapitalbank.com] Sent: Friday, May 04, 2012 8:06 AM To: Jim McCord Cc: Kyle Patton Subject: RE: Successor commissioners for Fayetteville MPOID No. 19- Oakbrooke, Phase I Subdivision 1. Yes. 2. Yes. 3. Yes. (Included our Bank President for verification) Alan Harrison Vice President The Capital Bank 12224 Chenal Parkway Little Rock, AR 72211 Phone (501) 228-6000 Fax (501) 228-6006 NMLS ID: 796639 From: Jim McCord[mailto:jimmccordlaw@windstream.net] Sent: Thursday, May 03, 2012 4:51 PM To: Alan Harrison; jtaylor@firstcommunity.net Cc: 'Nate Watson' Subject: Successor commissioners for Fayetteville MPOID No. 19- Oakbrooke, Phase I Subdivision Alan and Jason, Nate Watson at Merchants and Planters Bank, Trustee for owners of Bonds sold by Fayetteville MPOID No. 19- Oakbrooke, Phase I Subdivision (the "District") has advised me that each of you has agreed to be appointed as a successor commissioner to fill vacancies on the Board of Commissioners of the District. Please send me an e-mail confirming that (1) you have agreed to serve as a commissioner for the District, (2) your bank owns Bonds sold by the District and (3) you have been designated by your bank (the bondholder) to serve as a commissioner. These are all statutory requirements for you to be appointed as a successor commissioner for the District. Also, please advise of your position (title) with your bank. Upon receipt of your e-mails, I will prepare a Resolution for the Fayetteville City Council to approve which will appoint you as successor commissioners for the District; and, I will have the Resolution placed on the agenda for the earliest available City Council meeting. The MPOID law states at Ark. Code Ann. Sec. 14-94-108(d): "No member of the board shall be liable for any damages unless he or she shall have acted with a corrupt intent." Thank you for your cooperation. I look forward to working with you. Your obligations as a commissioner should require only a very small amount of your time. Jim James N McCord Attomey at Law The Fulbright Building 5/4/2012