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BY THE CITY COUNCIL FOR THE CITY OF BATESVILLE, ARKANSAS <br />i <br />ORDINANCE NO. qIl <br />BE IT ENACTED BY THE CITY COUNCIL FOR THE CITY OF <br />BATESVILLE, STATE OF ARKANSAS, AN ORDINANCE TO BE ENTITLED: <br />I <br />is AUTHORIZATION OF AN INTERLOCAL <br />AGREEMENT BETWEEN THE COUNTY OF INDEPENDENCE <br />AND THE CITY OF BATESVILLE, ARKANSAS, FOR <br />j' THE ESTABLISHMENT OF A JOINT INDUSTRIAL PARK <br />1. There has been established a Joint Industrial Park <br />Committee to study and make plans for the establishment of an <br />industrial park as a joint effort of the County of Independence <br />i <br />j, <br />and the City of Batesville, Arkansas. <br />2. The Joint Industrial Park Committee, pursuant to <br />i; <br />authority granted to it, has performed studies and done work in <br />furtherance of its objectives. j <br />3. The cooperation of the County of Independence and the <br />i <br />City of Batesville is necessary and desirable in reaching the <br />!;objective of establishing a joint industrial park to provide for <br />future industrial growth of Independence County and the City of <br />Batesville. <br />4. That the City of Batesville should enter into an <br />interlocal cooperation agreement with the County of Independence, <br />Arkansas, for the purpose of cooperatively establishing an <br />i industrial park. <br />5. That the period of the agreement shall be perpetual. <br />j 6. That a non-profit corporation should be formed, its <br />imembership composed solely of the two cooperating governmental <br />!entities, i.e. the City of Batesville, Arkansas, and the County <br />i <br />!of Independence, and the complete authority for the operation <br />I , <br />of said corporation should be vested in a Board of Directors con- <br />!sisting of six members; that two of the said members should be <br />.appointed by the Quorum Court of Independence County, Arkansas, <br />ithat two should be appointed by the Batesville City Council, and <br />;two should be appointed by the Batesville Area Chamber of Commerce <br />!that the terms of office for each director should be five years <br />1, except that the initial Board of Directors should be made up of <br />i! <br />one member to serve for one year, one member to serve for 2 years, <br />i{ <br />(i <br />ji <br />