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ORDINANCE NO. 21 - ) 0 — <br /> AN <br /> I0 —AN ORDINANCE TERMINATING FUTURE TAX LEVIES OF <br /> QUAIL VALLEY SEWER IMPROVEMENT DISTRICT NO. 1 OF <br /> BATESVILLE, ARKANSAS <br /> WHEREAS, the City of Batesville, Arkansas (the <br /> "City" ) , pursuant to Ordinance No. 886 passed and approved <br /> February 14, 1978 ( "Ordinance No. 886" ) levied a tax on the <br /> assessment of benefits of Quail Valley Sewer Improvement <br /> District No. 1 of Batesville, Arkansas (the "District" ) for the <br /> purpose of retiring the bonded indebtedness of the District; and <br /> WHEREAS, First National Bank of Batesville (the <br /> "Trustee" ) serves as trustee for the District' s $254, 400 <br /> Improvement Bonds, dated as of February 1, 1978 (the "Bonds" ) ; <br /> and <br /> WHEREAS, the Trustee and the Board of Commissioners of <br /> the District have advised the City Council that the Trustee will <br /> have in its possession on February 1, 1990 an amount sufficient <br /> to pay in full the Bonds; and <br /> WHEREAS, the Board of Commissioners of the District <br /> have requested the City not to extend the tax for collection in <br /> 1990 or thereafter; <br /> NOW THEREFORE, BE IT ORDAINED by the City Council of <br /> the City of Batesville, Arkansas: <br /> Section 1 . The tax on the assessed benefits of the <br /> District levied by Ordinance No. 886 shall not be extended in <br /> 1989 for collection in 1990 or thereafter. <br /> Section 2 . A certified copy of this Ordinance shall <br /> be filed with the County Clerk and the County Collector of <br /> Independence County, Arkansas (the "County" ) promptly in order <br /> to keep the tax from being extended on the County' s books in <br /> 1989 for collection in 1990 or thereafter. <br />