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• NOW' ..r WIIEREAS permanent financing of the Project costs, necessary ccsts and expenditures incidental thereto and 'to the expeditious commence- ment of manufacturing operations, the cost of the issuance of bonds and the amount necessary to provide for interest on bonds until Project revenues are available is being furnished by the issuance of Industrial Development Revenue Bonds by the City under the provisions of Act No. 9 in the principal amount of not to exceed Six Hundred Thousand Dollars ($600,000), (called "bonds" or "Act No. 9 Bonds"); and WHEREAS there has been submitted to the electors of the City the question of issuing the Act No. 9 Bonds at a special election, and at said special election the electors approved the issuance of the Act No. 9 Bonds; NOW, THEREFORE, BE IT ORDAINED by the City Council of the City of Batesville, Arkansas: Section 1. That there be, and there is hereby, authorized and directed the following: (a) The sale of $600,000 in aggregate principal amount of bonds; (b) The execution of all necessary architectural, engineering and construction contracts for the constructing and equip- ping of the Project, with executed copies of all such con- tracts to be filed in the office of the Clerk; and (c) The performance of all obligations of the City under the Lease Agreement pertaining to the constructing and equipping of the Project and the performance of all obligations of the City under the architectural, engineering and construction contracts referred to in (b) above. Section 2. That to provide for the authorization of and to secure Industrial Development Revenue Bonds of the City under Act No. 9 in the total principal amount of not to exceed $600,000, to provide for the execution and delivery of the bonds, and to prescribe the terms and conditions upon which the bonds are to be secured, executed, authenticated, accepted and held, the Mayor is hereby authorized and directed to execute and acknowledge a Trust