There was a proposal in the now-expired HTML 3 draft to
handle exactly this: just add SRC to the <HR> or <UL> tag,
indicating where the image can be found. But until this is
more widely supported, you have to use <IMG> for the rule,
with a lot of "--" characters as ALT text for text browsers,
and using a <DL> with only <DD> tags for each item. Make
sure you use ALIGN for the image, which should go at the
beginning of the item, of course. This isn't as beautiful as
a "real" list.

An alternative is using a two column table, with the bullets
in the left column, and the text in the right. But this
won't work well on non-table supporting browsers.