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RESOLUTION NO. 589 ( #2 - 06)
A RESOLUTION AUTHORIZING THE PREPARATION OF DOCUMENTS
FOR THE OFFERING AND SALE OF THE CITY'S LIBRARY
CONSTRUCTION AND IMPROVEMENT BONDS, SERIES 2006 PURSUANT
TO PROVISIONS OF ACT NO. 920 OF 1993; AND FOR OTHER
PURPOSES.
WHEREAS, Act 920 of 1993 authorizes municipalities to issue library
system capital improvement bonds;
WHEREAS, the citizens of the City of Jacksonville, Arkansas (the "City"),
by majority vote at the Special Election on July 5, 2005, approved the issuance
of up to Two Million Five Hundred Thousand Dollars ($2,500,000) in library
system capital improvement bonds;
WHEREAS, Central Arkansas Library System ( "CALS") has requested
authorization for the marketing of the City Library Construction and
Improvement Bonds, Series 2006 (the "Bonds "); and,
WHEREAS, the City desires to authorize CALS, acting by and through the
firms of Crews & Associates, Inc., as underwriter, and Wright, Lindsey &
Jennings LLP, as Bond Counsel, to prepare the documentation necessary to offer
the Bonds for sale and to market the Bonds on such terms and conditions as may
be approved by the Mayor, City Clerk/Treasurer, City Finance Director, and the
Executive Director of CALS, subject to the final approval of the City Council of the
City.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF JACKSONVILLE, ARKANSAS, THAT:
SECTION ONE. The firm of Wright, Lindsey & Jennings LLP is
authorized, in cooperation with the firm of Crews & Associates, Inc., CALS and its
staff and the City and its staff, to prepare all documentation incident and
necessary to the marketing of the Bonds.
SECTION TWO. Crews & Associates, Inc., as underwriter, is
authorized to market the Bonds, subject to the advice of the Mayor, City Finance
Director, and Executive Director of CALS, and further subject to the final
approval of the sale, issuance, and delivery of the Bonds by the City Council.
SECTION THREE: Any and all other Resolutions in conflict herewith are
hereby repealed to the extent of said conflict. This Resolution shall be in effect
from and after its date of passage.
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RESOLUTION NO. 589 ( #2 - 06)
PAGE TWO
APPROVED AND ADOPTED THIS DAY OF MARCH, 2006.
CITY OF JACKSONVILLE, ARKANSAS
TOMMY SWAIM, MAYOR
ATTEST:
SUSAN DAVITT, CITY CLERK
APPROVED AS TO FORM:
ROBERT E. BAMBURG, CITY ATTORNEY
Resolution 589 not passed. It was incorporated into Ord. 1272
adopted by the City Council March 2, 2006