1317 ORDINANCE NO. 1317 ( #16 - 07)
AN ORDINANCE APPROVING THE ISSUANCE OF REVENUE BONDS BY THE
CITY OF JACKSONVILLE, ARKANSAS HEALTH CARE (DEVELOPMENTALLY
DISABLED) FACILITIES BOARD; PRESCRIBING OTHER MATTERS
RELATING THERETO; AND, FOR OTHER PURPOSES.
WHEREAS, the City of Jacksonville, Arkansas Health Care (Developmentally
Disabled) Facilities Board (the "Board ") has been created pursuant to the provisions
of ACA §14- 137 -101, et. seq. (the "Act ") and Ordinance No. 521 ( "Ordinance No.
521 ") of the City of Jacksonville, Arkansas (the "City") for the purpose of financing
health care facilities for the developmentally disabled, including facilities for
residential housing, training, and education of persons who may be mentally or
developmentally disabled;
WHEREAS, Pathfinder, Inc., an Arkansas nonprofit corporation ( "Pathfinder "),
proposes the acquisition, construction, and equipping of new health care facilities
in the City and the renovation and expansion of existing health care facilities in the
City as hereinafter described (collectively, the "2007 Project ");
WHEREAS, the 2007 Project will consist of: (a) Acquiring, constructing, and
equipping an approximately Forty-two Thousand Square Feet (42,000 sf) facility to
be used as a Preschool, which will be located in the Pathfinder complex at West
Main Street and North Redmond Road in the City; and, (b) Renovating and
expanding the Jim Pickens Skills Training Center, located at 905 North Redmond
Road in the City, by adding an additional floor which will result in approximately Six
Thousand Four Hundred Square Feet (6,400 sf) of additional program space;
WHEREAS, the Board has outstanding its Revenue Bonds (Pathfinder
Project), Series 2002 (the "Series 2002 Bonds), which were issued for the purpose
of providing permanent financing of a portion of the costs of acquiring, constructing,
and equipping the Jim Pickens Skills Training Center (the "2002 Project ") and
refunding the Board's Revenue Bonds (Pathfinder Schools Project), Series 1998 (the
"Series 1998 Bonds ");
WHEREAS, the Series 1998 Bonds were issued for the purpose of financing
a portion of the costs of acquiring, constructing, and equipping the Jim Pickens Skills
Training Center, an approximately Ten Thousand Square Feet (10,000 sf) annex of
the Jim Pickens Skills Training Center, for skills training, a woodworking shop, and
a repair and maintenance shop (collectively, the "1998 Project ");
WHEREAS, the 1998 Project, the 2002 Project, and the 2007 Project do and
will provide health care for the developmentally disabled within the meaning of
Ordinance No. 521;
rd
WHEREAS, the Board proposes to issue its Revenue Bonds (Pathfinder
Project), Series 2007, in the maximum principal amount of Eight Million Two
Hundred Thousand Dollars ($8,200,000) (the "Series 2007 Bonds ") to finance all or
a portion of the 2007 Project and to refund the Series 2002 Bonds; and,
ORDINANCE NO. 1317 (#16 — 07)
PAGE TWO
WHEREAS, the 2007 Project is necessary in order to properly meet the
requirements of the inhabitants of the City for health care facilities and services for
the developmentally disabled which are not being and cannot reasonably be met by
other available health care facilities. Said issuance is plainly in the interest of the
City and its inhabitants.
NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF JACKSONVILLE, ARKANSAS, THAT:
SECTION ONE: The City of Jacksonville's Health Care (Developmentally
Disabled) Facilities Board is hereby authorized to issue the Series 2007 Bonds in the
principal amount not to exceed Eight Million Two Hundred Thousand ($8,200,000)
to finance all or a portion of the 2007 (Pathfinder Project) and to refund the Series
2002 Bonds.
SECTION TWO: The Oty hereby consents to the designation by the Board
of the Series 2007 Bonds as "qualified tax- exempt obligations" for purposes of
Paragraph (3) of Section 265(b) of the Internal Revenue Code of 1986, as amended,
if such bonds are issued during the calendar year 2007.
SECTION THREE: If any provision of this Ordinance or the application
thereof to any person or circumstance is 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 to the end that said provisions are
declared to be severable.
SECTION FOUR: All Ordinances of the City or parts thereof in conflict
herewith are hereby repealed to the extent of such conflict.
SECTION FIVE: This Ordinance shall take effect immediately upon
passage and publication, as provided by and subject to the requirements of
applicable law.
APPROVED AND ADOPTED THIS I q DAY OF JULY, 2007.
CITY OF JACKSONVILLE, ARKANSAS
TOMMY SWAIM MAYOR
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