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(W <br /> RESOLUTION NO. <br /> A RESOLUTION AUTHORIZING THE EXECUTION AND <br /> DELIVERY OF AN AMENDED AND SUBSTITUTED <br /> REFUNDING TRUST AGREEMENT BETWEEN THE CITY <br /> OF BATESVILLE, ARKANSAS, AND UNION NATIONAL <br /> BANK OF LITTLE ROCK, LITTLE ROCK, ARKANSAS, <br /> AS ESCROW TRUSTEE; AUTHORIZING THE REVISION <br /> OF INVESTMENTS TO BE MADE PURSUANT THERETO <br /> AND IN SUBSTITUTION OF CERTAIN INVESTMENTS <br /> MADE PURSUANT TO THAT ORIGINAL REFUNDING <br /> TRUST AGREEMENT DATED AS OF AUGUST 2 , 1976 <br /> BETWEEN THE CITY OF BATESVILLE, ARKANSAS, <br /> AND UNION NATIONAL BANK OF LITTLE ROCK , <br /> ARKANSAS , THE ESCROW TRUSTEE; AUTHORIZING <br /> AN ESCROW REVISION AGREEMENT, AND OTHER <br /> MATTERS RELATED THERETO. <br /> WHEREAS , the City of Batesville , Arkansas (the "City") , <br /> authorized the issuance of $l , 220 ,000 principal amount of its <br /> Water and Sewer Refunding Revenue Bonds, dated August 1, 1976 <br /> (the "Refunding Bonds") , for the purpose of providing funds for <br /> financing the cost of constructing and equipping improvements <br /> to the water and sewer system of the City and to provide funds , <br /> together with certain other available funds, to refund the then <br /> outstanding balance of certain previously issued and <br /> outstanding obligations (the "Refunded Bonds " ) , all as more <br /> fully set forth in the transcript of proceedings relating to <br /> the issuance of the Refunding Bonds; <br /> WHEREAS, in connection with the issuance of the Refunding <br /> Bonds and the refunding of the Refunded Bonds, the City adopted <br /> by Ordinance a Refunding Trust Agreement (the "Agreement") by <br /> and between the City and Union National Bank of Little Rock , <br /> Little Rock , Arkansas (the "Escrow Trustee" ) , directing the <br /> investment of the funds deposited with the Escrow Trustee in <br /> certain direct obligations of the United States of America (the <br /> "Government Securities" ) to be held for the benefit and credit <br /> of the holders of the Refunded Bonds; and <br /> WHEREAS , the City has been advised by Dabbs Sullivan <br /> Division of George K. Baum & Co. , Inc. , its financial adviser, <br /> 4 „ that because of the presently existing high yields available on <br /> United States Government Securities , in comparison to the <br />