1980-738-R - Laserfiche WebLink

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SCROW REVISION AGREEMENT THIS AGREEMENT , dated March_, 1980 , by and between the City of Batesville , Arkansas ( the " Issuer" ) , Union National Bank of Little Rock , Little Rock , Arkansas , ( the " Escrow Trustee" ) and Dabbs Sullivan Division of George K. Baum & Co . , Inc . , Little Rock , Arkansas ( the "Consultant" ) . W I T N E S S E T H : RECITALS ( 1 ) Issuer is a City of the First Class acting under the laws of the State of Arkansas . (2 ) The Consultant is a recognized financial consultant with expertise in the design and implementation of advance refund- ing transactions having served as a financial advisor in respect to several advance refunding issues . ( 3 ) On August 1 , 1976 , Issuer sold and delivered $1 , 220 ,000 Water and Sewer Refunding Revenue Bonds ( the "Refunding Bonds " ) for the purpose of financing the costs of constructing and equipping improvements to the water and sewer system of the Issuer and advance refunding certain previously issued and outstanding obligations of the Issuer ( the " Refunded Bonds " ) , as more fully set forth in Ordinance No . 854 of the Issuer passed and approved June 22 , 1976 ( the " Bond Ordinance" ) . Said Bond Ordinance also appoints Union National Bank of Little Rock , Little Rock , Arkansas , as Escrow Trustee to hold the escrowed funds hereinafter described . (4 ) In order to consummate the refunding program , the Issuer ' s fiscal agent purchased and delivered to the escrow Trustee a portfolio of United States Government Obligations-- State and Local Government Series ( the " Escrow Investments " ) , from bond proceeds deposited by the Issuer. These investments are currently held by the Escrow Trustee in a special escrow account ( the " Escrow Account" ) , pursuant to a Refunding Trust Agreement between the Issuer and the Escrow Trustee , dated August 2 , 1976 , for the purpose of satisfying the obligations of the Issuer to make principal and interest payments in respect to the Refunded Bonds .