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AM mv, Piq () 3 Voi�U On 311L,� 11)y ;:ill ''X" i -n La('3 :'Cj0()r0 abOW3 Me ine'rule [of or 'L'Jaiilst: For the issw=w of indus41nt Mvelumnant Mvemro "'-)Icls by alto Giy (-A Wonwas W Lhe aYY!U9dW P0101M UMOL111L ()I' 1"Ut 0 E=Xct= Cl ........... N1f1)."SL ftlo issuann; ef Boi)(1S '()y the, City cif 13,,,Losv1l.le, Arkansas in the agyrogak) puhlclpill of not to c.xc(--,ed ------------ 77 It is iWoposed to issue City o[ - ("City") IndWriat DOVOlOpMMIL ROVCM.Le Bonds ("bonds") under Act No. 9 of the First Extraordinacy Session of the May -Second Gemn-al Assembly of the State of Arkansas, approved Jilrluary 71, L960' as anuinded ("Act No. 9") , ha the aggrogate principal Ennount of 'Vow not to exceed for the pt'irnos)c of furnishing Lhe ocrillanout financi.-,ag of and devcQAng industry. The bonds will he daked, v/ill ',coir J.11LUI e.sL at rate or rates, J c1li-crest will ISDO payahje Oil such OaLcs, the b0n(IS Will 1-11ZALUI-O On SI-IG11 �ate- or dates, the bonds will Q wAnect to r^('.eiiiption prior to 111,11-1101y ill stl(';h manner and Upon s,,.i.ch terms, and Lim bonds will be issued at one Unia or in series fro.in Liir?e to all as the City Council shall subsequently dcmradme and specify in the ordinance at'..thoriz- ing their issuance. Tho laoposed indtud:rial pt-ojocl: to 11DO U."nainced by the bonds will- consist of cm expansion of Ljhe indlt`Affi.O.t plant operated by the Vv"ni-Lo Rodgers Division of l rnerson Electric: Co. , a MissoiHi corporation ("Emerson"), embodying lands, buildings, iniprovcrf,.-on-ts, inachinery, eqidpnient and fay i]Rins ("Project") and the proceeds of the bonds %",/ill be used for Wancing Project costs, expenses and expondRua)s in connccLioll and the expenses of the financing. 'I'llin Project will be leased to Emerson for as e rentals sufficient to provide for the palmiant of the principal of and interest oil the bonds as the saina become due. The bonds will not be general obligations of the City but will he special obligations payable solely fMill COVOMIes clu'I'l-Ved Frorri the Pl-ojec't' -1 , -'as(� a.ud A( -(, Ancluding PaRiCUlMly lease rentals u.nder �ho I,,,, _jl '01"Ient m9th Enmrson, whhoh Mil be specifically pledged to the payment of the principal of and interest on the ho,, -Ids, and elle bonds %vi.11 be scoured by a licil on ai,,d security inLnresL In the Project as :,uLhorized by Act No. 9.