NOTICE IS HEREBY GIVEN THAT THE BOARD OF COMMISSIONERS OF THE CHENAL VALLEY MUNICIPAL PROPERTY OWNERS MULTIPURPOSE IMPROVEMENT DISTRICT NO. 2026-001 OF THE CITY OF LITTLE ROCK, ARKANSAS APPROVED AND ENTERED ON THE 14TH DAY OF JULY, 2026 THE FOLLOWING ORDER:
ORDER
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 THE CHENAL VALLEY PROPERTY OWNERS MULTIPURPOSE IMPROVEMENT DISTRICT NO. 2026-001 OF THE CITY OF LITTLE ROCK, ARKANSAS; ASSESSING TAXES THEREON; AND FOR OTHER PURPOSES
WHEREAS, all of the property holders owning property situated in the Chenal Valley Municipal Property Owners Multipurpose Improvement District No. 2026-001 of the City of Little Rock, Arkansas (the “District”) petitioned the Board of Directors of the City of Little Rock, Arkansas (the “City”) to form a property owners improvement district to be organized for the purpose of constructing the improvements described in such petition, and to maintain, repair and operate such new or existing facilities; 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 thereof to be assessed upon the real property of the District according to the benefits received; and
WHEREAS, The City established the District to accomplish the above purposes by adoption of its Ordinance No. 22,738 on March 3, 2026; and
WHEREAS, the Commissioners of the District have made and filed their Report setting forth the plans for the improvements with the City Clerk containing the estimated cost of the improvements; and
WHEREAS, the assessments have been duly made by the Assessor for 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 Arkansas Democrat-Gazette, a newspaper published in and of general circulation in Pulaski County, Arkansas on June 28, 2026, and July 5, 2026; and
WHEREAS, on July 14, 2026, 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, the benefits received by each and every block, lot and parcel of real estate situated in the District equal or exceed the local assessment thereon; and
WHEREAS, the estimated cost of the improvements to the District is $1,370,000 exclusive of capitalized interest and costs of financing; and
WHEREAS, the assessed benefits (the “Assessed Benefits”) amount to $10,800,000.
NOW, THEREFORE, BE IT ORDERED by the Board of Commissioners of the Chenal Valley Municipal Property Owners Multipurpose Improvement District No. 2026-001 of the City of Little 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 is before this meeting of the Commissioners, and that the percentage prescribed in Section 2 hereof of the Assessment of Benefits on each of the blocks, lots and parcels shall be collected by the County Collector with the first installment of general taxes becoming due in the year 2027 and annually thereafter, with the first installment of general taxes until the whole of the local assessment with interest thereon at the lesser of the maximum rate permitted by law or the rate per annum of ten percent (10%) shall be paid.
Section 2. From each of the tracts, 1.45% of the Assessment of Benefits shall be collected in the year 2027 and annually thereafter.
Section 3. 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 2 hereof 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 4. This Order shall be in full force and effect from and after its entry.
[Signature page follows]
ORDERED this 14th day of July, 2026.
CHENAL VALLEY MUNICIPAL PROPERTY OWNERS MULTIPURPOSE IMPROVEMENT DISTRICT NO. 2026-001 OF THE CITY OF LITTLE ROCK, ARKANSAS
/s/ Sean Hoagland
Sean Hoagland, Commissioner
/s/ Thomas Russell
Thomas Russell, Commissioner
/s/ Greg Stewart
Greg Stewart, Commissioner
ALL PERSONS AFFECTED BY SAID ORDER ARE HEREBY NOTIFIED THAT THE SAME SHALL BECOME FINAL THIRTY (30) DAYS FROM THE DATE OF ENTRY BY THE BOARD OF COMMISSIONERS OF THE AFOREMENTIONED DISTRICT. THIS NOTICE PUBLISHED ON THE 19TH DAY OF JULY, 2026.
610730z