1181
000056
ORDINANCE NO. 1181 (#11 - 02)
AN ORDINANCE APPROVING ISSUANCE OF REVENUE BONDS BY THE CITY OF
JACKSONVILLE ARKANSAS' HEALTH CARE (DEVELOPMENTALLY DISABLED)
FACILITIES BOARD,; PRESCRIBING OTHER MA TTERS RELA TING THERETO; AND, FOR
OTHER PURPOSE~.
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WHEREAS, the City of Jacksonville, Arkansas' Health Care (Developmentally Disabled)
Facilities Board (the "Board") has been created pursuant to the provisions of ACA Title '.4, Chapter
137 (the "Act") and Ordinance No. 521 of the City of Jacksonville, Arkansas (the "City") for the purpose
of financing health care facilities for the developmentally disabled;
W - = ~ =AS, :)at ,,:inc er, nc., an Ar<ansas nonprofit corporation (" ::>at 1finder"), pro Joses
the acquisition, construction, and equipping of new healt 1 care facilities in the City as
hereinafter described (the "2002 Jroject"): --1e 2002 ::>ro'ect will be located in the Pathfinder,
Inc. comJlex at West Main and Redmond Road in the CLy and will consist of the acquisition,
construc:ion, and equiJJing of an aJ,Jroximately 12,000 square foot facility to be used for
administrative and storage s ,Jace; .
WHEREAS, Pathfinder has outstanding Revenue Bonds (Pathfinder Project), Series 1998
(the "Series 1998 Bonds), which were issued to finance a portion of the costs of acquiring,
constructing, and equipping a 44,810 square foot Skills Training Center and a 10,000 square foot
facility to be used for Skills Training, Woodworking, and ReJair and Maintenance ShoJ located at 905
Redmond Road in the City (collectively, the "1999 Projecf). The 1999 Project and t 1e 2002 Project
do and will provide health care facilities for the developmentally disabled; and,
WHEREAS, the Health Care Facilities Board Rroposes to issue Revenue bonds in the
maximum princiRal amount of $4,150,000 (the "Series 2002 Bonds"). Doing so will finance all or a
)ortion of the 2002 Project, )rovide permanent financing for the portion of the 1999 Project not
-.:inanced by the Series 1998 Bonds, and refund the Series 1998 Bonds. The 2002 Project is
necessary In order to Rroperly meet the requirements of the inhabitants of the City for health care
facilities and services for the developmentally disabled not currently being met and which cannot
reasonably be met by other available health care facilities. This project is plainly in the interest of the
City and its inhabitants.
NOW, THEREFORE, BE IT ORDAINED AND ENACTED BY THE CITY COUNCIL OF THE
CITY OF JACKSONVILLE, ARKANSAS:
SECTION ONE: The Board is hereby authorized to issue the Series 2002 Bonds in
the principal amount of not to exceed $ 4,150,000 to finance all or a Jortion of the 2002 Project,
provide permanent financing to complete the 1999 Project, and refund ':he Series 1998 Bonds.
SECTION TWO: The City hereby consents to the designation by the Health Care
Facilities Board of the Series 2002 Bonds as 'qualified tax-exempt obligations" for purposes of
Paragraph (3), Section 265(b) of the Internal Revenue Code of 1986, as amended, if such bonds are
issued in calendar year 2002.
SECTION THREE: If any provision of this Ordinance or the application thereof to any
person or circumstances held invalid, such invalidity shall not affect the other provisions or
applications of this Ordinance, which can be given effect without the invalid provision or application,
and to this end the provisions of this Ordinance are declared to be severable.
SECTION FOUR: All Ordinances or parts of Ordinances and Resolutions in conflict
herewith are hereby repealed to the extent of said conflict.
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DA Y OF AUGUST, 2002.
CITY OF JACKSONVILLE, ARKANSAS
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