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qa\ ORDINANCE NO. 9D2' AN ORDINANCE AUTHORIZING THE ISSUANCE OF WATER AND SEWER REVENUE BONDS FOR THE PURPOSE OF FINANCING THE COST OF CONSTRUCTING EXTENSIONS, BETTERMENTS AND IMPROVEMENTS TO THE WATER AND SEWER SYSTEM (DESCRIBED r IN THE ORDINANCE); PROVIDING FOR THE PAYMENT OF THE BONDS; ESTABLISHING RATES FOR SERVICES OF THE SYSTEM; REFERRING THE ORDINANCE TO THE ELECTORS OF THE CITY; PRESCRIBING OTHER MATTERS RELATING THERETO; AND DECLARING AN EMERGENCY. WHEREAS, the City of Batesville, Arkansas (the "City") owns and operates waterworks facilities and sewer facilities as a single municipal undertaking (the "System"); and WHEREAS, the System and its related properties and facilities are operated, managed and maintained by the Batesville Utilities Commission (the "Utilities Commission"); and WHEREAS, the estimated cost of the improvements is approximately $8,386,000, and in order to pay the cost of the improvements it is necessary that $2,250,000 be financed by the issuance of revenue bonds (the balance to be paid from funds on hand and from federal grant funds); and WHEREAS, the City has outstanding an issue of Water and Sewer Refunding Revenue Bonds, dated August 1, 1976 (the "1976 Bonds"), issued under and pursuant to the provisions of Ordinance No. 854, adopted and approved on June 22, 1976 (the "1976 Ordinance"); and WHEREAS, the City has determined that extensions, betterments and improvements to the System are necessary and has caused to be prepared by consulting engineers, Hilsdon & Sonnenburg, Memphis, Tennessee, plans and estimates of cost of constructing extensions, betterments and improvements to the System (the "improvements"), and a copy of the report and plans prepared by the consulting engineers is on file in the office of the City Clerk and reference may be made thereto by any interested person; and