Type:   NOT
Party:   Carter Land Improvement District
County:   Pulaski
Attorney/Contact:   G. Robert Hardin

NOTICE
NOTICE IS HEREBY GIVEN THAT THE BOARD OF COMMISSIONERS FOR CARTER LANE MUNICIPAL PROPERTY OWNERS’ MULTI-PURPOSE IMPROVEMENT DISTRICT NO. 2023-003 OF LITTLE ROCK, ARKANSAS HAS ENTERED INTO ITS RECORDS THE FOLLOWING ORDER AMENDING THAT LEVY UPON THE REAL PROPERTY OF THE DISTRICT A SUFFICIENT TAX TO PAY THE ESTIMATED COST OF THE IMPROVEMENTS WITH TEN (10%) PERCENT ADDED FOR UNFORESEEN CONTINGENCIES. ALL PERSONS AFFECTED BY THE ORDER ARE HEREBY WARNED THAT THE ORDER SHALL BECOME FINAL UNLESS SUIT IS BROUGHT TO CONTEST THE ORDER WITHIN THIRTY (30) DAYS OF THE DATE OF THE FIRST PUBLICATION OF THIS NOTICE. AN ORDER ASSESSING THE VALUE OF BENEFITS TO BE RECEIVED BY THE OWNERS OF EACH OF THE SEVERAL BLOCKS, LOTS AND PARCELS OF LAND WITHIN CARTER LANE MUNICIPAL PROPERTY OWNERS’ MULTI-PURPOSE IMPROVEMENT DISTRICT NO 2023-003 OF LITLE ROCK, ARKANSAS; ASSESSING TAXES THEREON, AND FOR OTHER PURPOSES. WHEREAS, all of the property holders owning property situated in CARTER LANE MUNICIPAL PROPERTY OWNERS’ MULTI-PURPOSE IMPROVEMENT DISTRICT NO 2023-003 OF LITLE ROCK, ARKANSAS (the "District"), have petitioned the City Board of Little Rock, Arkansas, to form a property owners' improvement district to be organized for the purpose of purchasing, accepting as a gift, constructing, or maintaining facilities for waterworks, recreation, drainage, gas pipelines, underground trenches and excavations necessary for the installation by public utilities or municipal utilities of electric and telephone distribution systems, sanitary sewers, streets and highways, including curbs and gutters, and sidewalks, together with facilities related to any of the foregoing, or for more than one (1) of those purposes, whether within or outside the boundaries for the Proposed District, to serve the inhabitants of the District; said purposes to be accomplished in the manner and of the materials that the Commissioners of the District shall deem to be in the best interest of the District, and the cost thereon to be assessed upon the real property of the District according to the benefits received; and WHEREAS, the City Board of Little Rock, Arkansas has established the District to accomplish the above purposes by adopting Ordinance No. 22,332 on November 14, 2023; and WHEREAS, the assessments have been duly made by the Assessor of the District, who was appointed by the Board of Commissioners of the District, and filed in the office of the City Clerk pursuant to law, and notice of such filing was duly published in the Daily Record, a newspaper published in and of general circulation in the City of Little Rock, Arkansas, on November 11, 2024 and November 19, 2024; and WHEREAS, on November 20, 2024, the Commissioners and Assessor for the District met at the place and at the time named in said notice as a board of equalization and heard all complaints against the assessments filed with the City Clerk, and equalized the same; and WHEREAS, no protest of the assessments was received; and WHEREAS, the benefit received by each and every block, lot and parcel of real estate situated in the District equal or exceed the local assessments thereon; and WHEREAS, the estimated cost of the improvement to be paid by the District is $160,000.00 inclusive of capitalized interest and costs of financing together with a 10% reserve; and WHEREAS, the assessed benefits (the "Assessed Benefits") amount to $1,402,000.00. NOW, THEREFORE, BE IT ORDERED by the Board of Commissioners of CARTER LAND MUNICIPAL PROPERTY OWNERS’ MULTI-PURPOSE IMPROVEMENT DISTRICT NO. 2023-003 OF LITLE ROCK, ARKANSAS:
Section 1. That each of the blocks, lots and parcels of real property in the District be assessed according to the assessment list of the District, as equalized, as the same now is of record in the office of the City Clerk, and the Assessment of Benefits on each of the blocks, lots and parcels shall be collected by the County Collector with general taxes becoming due in the year 2025 and annually thereafter at the rate per annum of 1.1693% until the whole of the local assessment, with interest thereon at a rate equal to the lesser of the maximum rate permitted by law or the rate of 10% per annum, shall be paid.
Section 2. This Order shall have all the force of a judgment to be paid by the real property in the District in proportion to the amount of the Assessed Benefits as established herein and to be paid in annual installments as set forth in Section 1 hereof and the maintenance charge as set forth in Section 2 and the taxes so levied shall be a lien upon the real property in the District from the time of the date of this Order and shall be entitled to preference over all demands, executions, encumbrances or liens whatsoever created, and continue until all such assessments, with any penalty or cost that may accrue thereon, shall have been paid.
Section 3. This Order shall be in full force and effect from and after its entry.
ORDERED this 20th day of November, 2024. CARTER LANE MUNICIPAL PROPERTY OWNERS’ MULTI-PURPOSE IMPROVEMENT DISTRICT NO 2023-003 OF LITLE ROCK, ARKANSAS. By: Lee Maris, Commissioner, By: Casey Ingram, Commissioner, By: Andrew Stephens, Commissioner. DR1T 1/07/2025