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RESOLUTION NO. '6 <br /> A RESOLUTION APPROVING AN AMENDMENT <br /> TO THE RE-USE PLAN FOR ARKANSAS <br /> COMMUNITY AND ECONOMIC DEVELOPMENT <br /> PROGRAM SET-ASIDE GRANT. <br /> WHEREAS, a grant application submitted by the City of <br /> Batesville was approved by the Arkansas Industrial Development <br /> Commission for the purpose of making a loan to Omega Containers <br /> Batesville, Inc. , and, <br /> WHEREAS, the funding agency (AIDC) requires that the loan <br /> repayments must be held in a separate account, and a Re-Use Plan <br /> must be developed and approved by AIDC, and <br /> WHEREAS, Omega Containers, Batesville, Inc. , has defaulted <br /> on the loan and the balance in the revolving loan is $ 31,311.63 <br /> plus accrued interest and it now becomes necessary to modify the <br /> terms and conditions for Re-Use of the funds. <br /> NOW, THEREFORE BE IT RESOLVED that the Batesville City <br /> Council hereby amends the Re-Use Plan which establishes the <br /> requirements for utilization of the recaptured Omega Container <br /> Batesville, Inc. , loan payments. <br /> ENTERED this O rte- day of i, 1987. <br /> ayor <br /> SEAL Clerk <br />