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`10W ORDINANCE NO. 758 AN ORDINANCE CALLING AN ELECTION TO VOTE UPON THE QUESTION OF ISSUING BONDS UNDER TfIE PROVISIONS OF ACT NO. 9 OF THE FIRST EXTRAORDINARY SESSION OFTHE SIXTY-SECOND GENERAL ASSEMBLY OF THE STATE OF Ar:YAl SAS , APPROVED JANUARY 21, 1960, AS AMENDED, FOR THE PURPOSE OF FURNISHING THE PERMANENT FINANCING OF THE COST OF SECURING AND DEVELOPING INDUSTRY (THE PARTICULAR INDUSTRIAL PROJECT IS DESCRIBED IN THE ORDINANCE); PRESCRIBING OTHER MATTERS RELATING THERETO; AND DECLARING AN EMERGENCY it WHEREAS arrangements have been made with Stern-Slegman- Prins Company, a Missouri corporation., for the location of a substantial industrial plant in the City of Batesville, Arkansas ("City"); and WHEREAS the location of the industrial plant in the City will result in increased employment, will result in increased payrolls , will alleviate unemployment, and will result in other public benefits incidental to the operation of a substantial industrial plant, all of which will be in the best interests of the City and its citizens and inhabitants; and WHEREAS in order to obtain funds for the financing of necessary lands, building, improvements, machinery, equipment and facilities ("Project"), essential to the location and operation of the industrial plant, the City Council of the City has determined to issue, subject to the approval of the electors of the City, Industrial Development Revenue Bonds under the provisions of Act No. 9 of the First Extraordinary Session of the Sixty -Second General Assembly of the State of Arkansas, approved January 21, 1960, as amended ("Act No. 9") in an amount not to exceed 8500 .000 fnr the nv_rpnGP of fin�nr-inrr the Prninrt costs and necessary costs and expenses incidental thereto, the costs of the issuance of the bonds , and providing adequately for debt service on the bonds until Proiect revenues are available therefor; and