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V0101 ARBITRAGE CERTIFICATE The undersigned, Mayor and City Clerk of the City of Batesville, Arkansas (the "City"), do hereby certify that, based on the facts, estimates and circumstances in existence on this date, it is not expected that the proceeds of the City of Batesville, Arkansas Sanitation Facilities Revenue Bonds, dated December 1, 1980 (the "bonds") will be used in any manner that would cause the bonds to be arbitrage bonds under the provisions of Section 103(c) of the Internal Revenue Code of 1954, as amended. Specifically: 1. The bonds are being issued for the purpose of financing a portion of the costs of acquiring, constructing and equipping sanitation facilities for the disposal of refuse and the generation of steam and paying the expenses of authorizing and issuing bonds (the "Project"). 2. The estimated total cost of the Project is $1,086,730. The said total costs are expected to be financed with (i) $565,000 from the proceeds from the sale of the bonds, (ii) from available funds of the City, and (iii) grant or loan funds obtained and to be obtained from an agency of the United States of America. 3. The City has heretofore entered into a contract for the construction of the Project, which contract obligates the r- v payment by the City of not less than The actual work 14OW of constructing the Project began during the month of , 19,�?/. It is contemplated that such work will proced with due diligence to completion, expected on or about, , 19J'?/ . 4. The principal proceeds to iDe derlvc-d by the City from the sale of the bonds are expected to be used, needed and fully expended f ayment of costs of constructing the Project by no later than ,& , 19SZ. Work on the Project is expected to proceed with due di igence to completion.