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Pa (I e 3 Vote on measure by placing an "X" in the square above the measure either for or against: FOR the issuance of Industrial. Development Revenue Bonds by the City of Batesville, Arkansas in the aggregate principal amount of not to exceed $5,000,000 ----------------------------------------------- AGAINST the issuance of Industrial Development Revenue Bonds by the City of Batesville, Arkansas in the aggregate principal amount of not to exceed $5,000,000 --------------------------------------------- It is proposed to issue City of Batesville, Arkansas ("City") Industrial Development Revenue Bonds ("bonds") under Act No. 9 of the First Extraordinary Session of the Sixty -Second General Assembly of the State of Arkansas, approved January 21, 1960, `.w as amended ("Act No. 9"),in the aggregate principal amount of not to exceed $5, 000, 000 for the purpose of furnishing the permanent financing of the costs of securing and developing industry. The bonds will be dated, will bear interest at such rate or rates, interest will be payable on such dates, the bonds will mature on such date or dates, the bonds will be subject to redemption prior to maturity in such manner and upon such terms, and the bonds will be issued at one time or in series from time to time, all as the City Council shall subsequently determine and specify in the ordinance authoriz- ing their issuance. The proposed industrial project to be financed by the bonds will consist of an expansion of the industrial plant operated by the White Rodgers Division of Emerson Electric Co. , a Missouri corporation ("Emerson"), embodying lands, buildings, improvements, machinery, equipment and facilities ("Project") and the proceeds of the bonds will be used for financing Project costs, expenses and expenditures in connection therewith and the expenses of the financing. The Project will be leased to Emerson for lease rentals sufficient to provide for the payment of the principal of and interest on the bonds as the same become due. The bonds will not be general obligations of the City but will be special obligations payable solely from revenues derived from the Project, including particularly lease rentals under the Lease and Agreement L,,,, with Emerson, which will be specifically pledged to the payment of the principal of and interest on the bonds, and the bonds will be secured by a lien on and security interest in the Project as authorized by Act No. 9.