|
INTRODUCTION
<br /> The City of Batesville was approved an Arkansas Community and
<br /> Economic Development Program Set-Aside grant on July 19, 1984,
<br /> in the amount of $236,000. A loan of $225,000 at 6% for ten
<br /> years was approved by Omega Container Batesville, Inc. , for the
<br /> construction of a 34,500 square foot building to be located in
<br /> the Batesville-Independence County Industrial Park. The purpose
<br /> of the loan was to stimulate the local economy by requiring 61
<br /> new permanent jobs.
<br /> The City of Batesville will capitalize a revolving loan fund
<br /> with the repayments of the $225,000 for the purpose of
<br /> furthering economic development in the Batesville area.
<br /> The repayment schedule for the Omega loan totaling $307,326.72
<br /> follows:
<br /> April 1, 1985 - $ 6,106.44 October 1, 1985 - $ 6,750.00
<br /> April 1, 1986 - $16,359.46 October 1, 1986 - $16,359.46
<br /> April 1, 1987 - $16,359.46 October 1, 1987 - $16,359.46
<br /> April 1, 1988 - $16,359.46 October 1, 1988 - $16,359.46
<br /> April 1, 1989 - $16,359.46 October 1 , 1989 - $16,359.46
<br /> April 1, 1990 - $16,359.46 October 1, 1990 - $16,359.46
<br /> April 1, 1991 - $16,359.46 October 1, 1991 - $16,359.46
<br /> April 1, 1992 - $16,359.46 October 1, 1992 - $16,359.46
<br /> April 1, 1993 - $16,359.46 October 1, 1993 - $16,359.46
<br /> April 1, 1994 - $16,359.46 October 1, 1994 - $16,359.46
<br /> -1-
<br />
|