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RESOLUTION NO. <br /> A RESOLUTION AUTHORIZING AND APPROVING THE <br /> EXECUTION OF AN INITIAL UNDERWRITING AGREEMENT <br /> BETWEEN THE CITY AND T. J. RANEY a SONS, INC. , <br /> PERTAINING TO THE FINANCING OF HYDROELECTRIC <br /> FACILITIES; AND AUTHORIZING MATTERS PERTAINING <br /> THERETO. <br /> WHEREAS, it has been determined by the City Council of <br /> the City of Batesville, Arkansas that it is in the interest of the <br /> City that the City pursue the development and financing of hydro- <br /> electric facilities, to be located on the White River; and <br /> WHEREAS, there has been presented to the City the proposal <br /> 4W of T. J. Raney & Sons, Inc Little Rock, Arkansas ("Raney") , whereby <br /> Raney would assist the City in the financing of such hydroelectric <br /> facilities, and it is in the interest of the City that the proposal <br /> be accepted; <br /> NOW, THEREFORE, BE IT RESOLVED by the City Council of the <br /> City of Batesville, Arkansas: <br /> Section 1. The proposal of Raney, as set forth in the <br /> Initial Underwriting Agreement (the "Agreement") presented to the <br /> City by Raney is accepted and Raney is hereby retained to assist <br /> the City with regard to the financing of proposed hydroelectric <br /> facilities, as set forth in the Agreement. <br /> Section 2. The Mayor is authorized to execute the Agreement <br /> on behalf of the City and to carry out any obligations of the City <br /> under the Agreement. It is specifically understood and agreed upon by all parties <br /> that the City will not be financially obligated in any manner or means to T. J. Raney <br /> & Sons, Inc. if a bond issue is not necessary. <br />