1981-766-R - Laserfiche WebLink

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INITIAL UNDER1,A1ITING AGREE= MIL THIS AGREEMENT made and entered into this day of , 1981, by and between T. J. Raney & Sons, Inc. , 200 Louisiana Street, Little Rock, Arkansas, hereinafter called the "Underwriter", and City of Batesville, Batesville, Arkansas, hereinafter called the "Issuer". WITNESSETH: WHEREAS, the Underwriter is engaged in the field of finance, including invest- ment banking, and has adequate resources, skill and experience in underwriting, marketing and distributing state and municipal bonds; and WHEREAS, the Issuer is considering the issuance and sale of its bonds in such aimunt as shall be economically and duly feasible for the purpose of financing a project essentially consisting of the construction of a hydroelectric unit at Lock and Dam #1 on White River, the revenues from which will provide all or part of the funds to construct and operate a proposed heritage center, hereinafter called the "Prof ect". NOW, THEREFORE, the issuer does hereby invite the Underwriter to submit an underwriting proposal for the purchase of the subject bonds at mutually acceptable prices and other terms conmensurate with the project and market conditions then prevailing, the Underwriter does hereby accept such invitation, and in consideration of the mutual agreements herein contained, the Underwriter and the Issuer agree as follows: I. THE UNDERWRITER AGREES 1. To make available for conference and consultation such of our personnel as may be reasonably requested by you, given sufficient notice, in order to allow you to proceed promptly and in an efficient and expeditious manner in the development of the Project and its financing: 2. To cooperate with all parties engaged in preparing provisions and coven- ants to be contained in the bond authorizing and securing instruments, and to develop and present specific recommendations as to the protective and other coven- ants to be included in the authorizing instnznents; 3. To cooperate with the attorneys for the Issuer, including acceptable nationally recognized legal counsel, regarding instruments and procedures necessary to duly authorize and secure the bonds, and regarding other related legal matters; 4. To cooperate with all officials, employees, contractors and agents of the Issuer relative to the preparation of all pertinent information regarding the financing, including but not limited to related economic and financial data, and to disseminate such infoniation to potential institutional investors and financial publicity media, and to confer with Moody's and/or Standard & Poor's Corporation with respect to the assignment of favorable investment ratings on the Bonds and in connection therewith will present to them relevant data and information sufficiently in advance of the marketing of the Bonds to permit the rating services to evaluate and rate the Bonds prior to their offering.