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0 ORDINANCE NO. 7.71 AN ORDINANCE CALLING A SPECIAL ELECTION IN THE CITY OF BATESVILLE, ARKANSAS, SUBMITTING TO THE ELECTORS OF THE CITY THE QUESTION OF ISSUING BONDS UNDER AMENDMENT NO. 13 TO THE CONSTITUTION OF THE STATE OF ARKANSAS FOR THE PURPOSE OF IMPROVING THE MUNICIPAL FLYING FIELD (AIRPORT); PRESCRIBING OTHER MATTERS RELATING THERETO; AND DECLARING AN EMERGENCY WHEREAS the City of Batesville, Arkansas (the "City") is a City of the first class; and WHEREAS the City Council has determined that there is an imme- diate need for developing and improving the Municipal Flying Field (Airport) in order that adequate airport facilities be made available for the industrial development and growth and propserity of the City and its inhabitants and has had a preliminary engineering report and estimates of costs prepared covering the needed improvements (the "improvements"); and WHEREAS it is contemplated that grants will be obtained from agencies of the United States of America but that the City will have to furnish up to $250,000 toward the financing of the improvements, necessary expenses incidental thereto and the payment of expenses incurred in connection with the issuance of the bonds; NOW, THEREFORE, BE IT ORDAINED by the City Council of the City of Batesville, Arkansas: Section 1. That a special election be and the same is hereby called to be held in the City on the day of . " , 1969, at which there shall be submitted to the electors of the City the question of issuing bonds for the purpose of paying the portion of the costs of the improvements to be borne by the City. The bonds shall be dated July 1, 1969, interest shall be payable semiannually on January 1 and July 1 of each year commencing January 1, 1970, and the bonds shall mature on July 1 of each year as follows, but shall be subject to redemption prior to maturity upon such terms as shall