Type:   NOT
Party:   Notice of Entry of Tax Order
County:   Pulaski
Attorney/Contact:   Gill Ragon Owen

LITTLE ROCK MUNICIPAL PROPERTY OWNERS’ IMPROVEMENT DISTRICT 
NO. 2024-001 – THE GROVE AT OLD OAK SPECIAL IMPROVEMENT DISTRICT 
NOTICE OF ENTRY OF TAX ORDER 
Notice is hereby given that the Board of Commissioners for Little Rock Municipal Property Owners’ Improvement District No. 2024-001 – The Grove at Old Oak Special Improvement District has entered upon its records the following Order levying a tax upon the real property of the District. All persons affected by said 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 first publication of the Notice: 
LITTLE ROCK MUNICIPAL PROPERTY OWNERS’ IMPROVEMENT DISTRICT NO. 2024-001 – THE GROVE AT OLD OAK SPECIAL IMPROVEMENT DISTRICT 
SPECIAL TAX ORDER 
AN ORDER ASSESSING THE VALUE OF BENEFITS 
TO BE RECEIVED BY EACH OF THE SEVERAL LOTS 
OF LANDS WITHIN LITTLE ROCK MUNICIPAL PROPERTY 
OWNERS IMPROVEMENT DISTRICT NO. 2024-001 – THE GROVE AT OLD OAK SPECIAL IMPROVEMENT DISTRICT AND ASSESSING TAXES THEREON 

Whereas, all of the property holders owning property situated and encompassed within Little Rock Municipal Property Owners’ Improvement District No. 2024-001 - The Grove at Old Oak Special Improvement District (the “District”), have petitioned the City Board of Directors of Little Rock, Arkansas to form a municipal property owners improvement district for the purpose of constructing, purchasing, or accepting as a gift facilities for waterworks, recreation, drainage, gas pipelines, and underground trenches and excavations necessary for the installation of electric and telephone distribution systems, sanitary sewers, streets including curbs and gutters, and sidewalks, together with facilities related to any of the foregoing, or two more than one of these purchases; and Whereas, the Board of Directors of Little Rock, Arkansas has established the District to accomplish the above purposes pursuant to the adoption of its Ordinance Number 22,545 on November 14, 2024, which was published by the City of Little Rock, Arkansas on December 10, 2024; and  Whereas, an assessment of benefits has been prepared by the duly designated assessor of the District, who was appointed by the Board of Commissioners of the District, and filed in the office of the City Clerk for Little Rock, Arkansas pursuant to law, and notice of such filing was duly published in The Daily Record, a newspaper having a general circulation in Little Rock, Arkansas on September 2, 2025 and September 9, 2025; and  Whereas, on September 10, 2025, the Commissioners and the Assessor for the District met at the place and time named in said notice as a board of equalization to hear all complaints against the assessment of benefits and equalize same; and Whereas, no protest of the assessment of benefits was received; and Whereas, the benefits received by each and every lot of real estate situated and encompassed within the boundaries of the District equal or exceed the local assessments thereon; and Whereas, the estimated cost of improvements to the District is $850,000.00, exclusive of capitalized interest, a debt service reserve fund, and costs of financing; and  Whereas, the assessed benefits (the “Assessed Benefits”) amount to $3,010,000.00; and 

Now, therefore, be it ordered by the Board of Commissioners of Little Rock Municipal Property Owners’ Improvement District No. 2024-001 The Grove at Old Oak Special Improvement District: 

Section 1. Assessment of Benefits. That each of the lots of real property encompassed within the boundaries of the District be assessed according to the assessment list of the District filed in the office of the Little Rock City Clerk as reflected on Exhibit “A”, attached hereto and made a part hereof. 

Section 2. Levy of Special Tax. There is hereby levied upon the real property encompassed within the boundaries of the District a tax sufficient to pay the estimated cost of the improvements, with 10% added for unforeseen contingencies. The tax shall be paid by the real property owners within the boundaries of the District in proportion to the amount of the assessment of benefits thereon and is to be paid in annual installments, as provided in this Order. The tax shall be collected by the Pulaski County Collector beginning in the year 2027 and annually thereafter, until the whole of the local assessments shall be paid, at a rate per annum of 4.00% of the Assessed Benefits as reflected on Exhibit “A” attached hereto and made a part hereof. 

Section 3. Full Force of Judgment. This Order shall have all the force of the judgment to be paid by the real property encompassed within the District in the proportion to the amount of the Assessed Benefits thereon as established herein, and to be paid in annual installments as set forth in Section 2 hereof, and the taxes so levied shall be a lien upon the real property encompassed within the District from the time of the date of this Order, and shall be entitled to preferences over all demands, executions, encumbrances or liens whensoever created, and shall continue until all such assessments, with any penalty costs and interest that may accrue thereon, have been paid. 

Section 4. Effective Date. This Order shall be in full force and effect from and after the date of its entry. 
Ordered on this September 10, 2025. 
/s/Michael Nauman, Michael Nauman 
/s/ Bruce Henry, Bruce Henry
/s/ Edward A. Nauman, Edward A. Nauman
DR1T 1/13/2026


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