Resolutions

RESOLUTION NO. 2011-12

A RESOLUTION APPOINTING DA VE SEAL, ALAN HARRISON, AND GARY
CANADA, JR. AS SUCCESSOR COMMISSIONERS FOR ELKINS MUNICIPAL
PROPERTY OWNERS' IMPROVEMENT DISTRICT NO. 2- OAKLEAF MANOR
SUBDIVISION INFRASTRUCTURE PROJECT

WHEREAS, Elkins Municipal Property Owners' Improvement District No. 2-
0akleaf Manor Subdivision Infrastructure Project (the "District") was established upon
petition of the all the property owners in the District by Ordinance No. 11-06-2008B
passed and approved by the Elkins City Council on November 6, 2008; 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, all three Commissioners of the District 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, District Counsel James N. McCord has advised the Elkins City
Counsel that banks which own bonds sold by the District, and are therefore creditors of
the District, have designated Dave Seal, Alan Harrison and Gary Canada, Jr., who are
officers or directors of said banks, to be named and appointed as successor
commissioners for the District; and,

WHEREAS, District Counsel James N. McCord has advised the Elkins City
Council that Dave Seal, Alan Harrison and Gary Canada, Jr. have agreed to serve as
successor commissioners for the District.

NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
ELKINS, ARKANSAS:

Section I. That Dave Seal, Alan Harrison and Gary Canada, Jr. are hereby
appointed as commissioners for Elkins Municipal Property Owners' Improvement
District No.3 - Oakleaf Manor Subdivision Project..

PASSED AND APPROVED the 19th of May, 2011.