947 - Laserfiche WebLink

Home Browse Search

li j �I B. To develop and maintain said real property I to the fullest extent necessary in order to accomplish the expansion of industry in Batesville and i! i, Independence County, Arkansas. C. To apply for and obtain funds from any appropriate source in order to accomplish these goals. i' D. To establish reserves and to invest said I reserves or any other funds coming into said corporation in bonds, certificates of deposit, savings accounts or ii �j other industrial property as the board of directors may deem satisfactory. E. To have and to exercise all powers, privileges and rights conferred on corporations by the laws of the State of Arkansas and all powers and rights i incidental in carrying out the purposes for which this ii ii corporation is formed. i F. The foregoing shall be construed both as objects and powers and the enumeration thereof shall i' not be held to limit or restrict in any manner the general powers conferred on this corporation by the laws of the State of Arkansas, all of which are hereby expressly claimed. 9. That the name of the corporation should be Batesville - :;Independence County Industrial Development Corporation. Ji 10. That the manner of financing and establishing and 1!maintaining a budget therefor should be consistent with the 1, I (purposes and objectives set out in paragraph 5 herein. 11. That the corporation may only be terminated by majority) vote of the governing bodies of each of the governmental entities ii which are parties to this agreement, and then only upon recommen- ;dation of such termination by majority vote of the Board of Directors of such corporation; provided, however, the governmental !entities which are parties to this agreement may terminate the i ;corporation without recommendation of the Board of Directors upon a vote of three-fourths of the members of each governmental entity, - 3 -