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City adopts equipment-loan ordinance to fund airport solar-covered parking
Summary
The board adopted an ordinance authorizing an equipment loan agreement with the Arkansas Energy Office and Arkansas Development Finance Authority to draw roughly $1.1 million for a solar-covered parking project at the airport and attached an emergency clause to enable timely drawdown.
The board adopted an ordinance authorizing execution of an equipment loan agreement between the city, the Arkansas Energy Office and the Arkansas Development Finance Authority to fund a solar-covered vehicle parking project for the airport.
Paul, who presented the project on behalf of the airport authority, said attorneys negotiated language with state counsel to clarify the city–airport legal relationship and that the loan includes an emergency clause to permit drawdown within the fiscal year to…
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