Resolutions

RESOLUTION NO. 2012-14

A RESOLUTION APPOINTING LARRY OLSON AS A SUCCESSOR COMMISSIONER 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 subsequently 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, in accordance with the above cited statutes, the Elkins City Council approved a Resolution on May 19, 2011, appointing Dave Seal, Alan Harrison and Gary Canada, Jr. as successor commissioners for the District; and

WHEREAS, District Counsel James N. McCord has advised the Elkins City Council that Dave Seal has resigned as a commissioner of the District and has provided the City Council with a copy of his written resignation; and,

WHEREAS, District Counsel James N. McCord has advised the Elkins City Council that a bank which owns bonds sold by the District, and is therefore a creditor of the District, has designated Larry Olsen an officer of said bank, to be named and appointed as a successor comm1ssi6rter Ior tne 1stnct; an ,

WHEREAS, District Counsel James N. McCord has advised the Elkins City Council that Larry Olson has agreed to serve as a successor commissioner for the District.

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

Section 1. That Larry Olson hereby appointed as a commissioners for Elkins Municipal Property Owners' Improvement District No.2 - Oakleaf Manor Subdivision Project..

PASSED AND APPROVED the 16th of August, 2012.