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M <br />C2 <br />The. Farmers and Merchants Bank <br />Attn: Trutt Department <br />Stuttgart, Arkansas <br />Gentlemen: <br />Batesville, Arkansas <br />February 12, 1981 <br />We hand you herewith $565,000 City of Batesville, Arkansas 9 1/4% <br />Sanitation Facilities Revenue Bonds, Dated December 1, 1980, all due Decem- <br />ber 1, 1984, as more fully described as follows: <br />AMOUNT RATE <br />$565,000 9 1/4j, <br />MATURITY <br />December 1, 1984 <br />BOND NUMBERS <br />(BOTH INCLUSIVE) <br />DENOMINATION <br />$5,000 <br />When you have authenticated these bonds in the space provided, <br />please deliver them to Harrow Smith Company and/or Powell & Satterfield, Inc., <br />Little Rock, Arkansas upon receipt of payment in the amount of $562,029.85 <br />calculated as follows: <br />$565,000 par value @ 97.65 cents on the dollar...... $551,722.50 <br />Plus Int. @ 9 1/4% from 12-1-80 to 2-32-81.......... 10,307.35 <br />Total Amount Due February 12, 1981 ............. $562,029.85 <br />Please deduct $918.75 from the proceeds as your fee for authenti- <br />cating these bonds and remit the balance of the proceeds or $561,111.10 to <br />the Treasurer of City of Batesville, Arkansas. <br />Disposition of the $561,111.10 will be made in accordance with the <br />provisions set forth in Section 23 of Ordinance No. 951 adopted by the govern- <br />ing body of the City of Batesville, Arkansas on January 13, 1981. <br />Your assistance in completing this transaction will be appreciated. <br />Yours very truly, <br />CITY OF BATESVILLE, ARKANSAS <br />By� <br />Mayor <br />lay <br />Clerk -Treasurer <br />