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0 <br />-2- <br />M <br />NOW, THEREFORE, BE IT ORDAINED by the City Council of the <br />City of Batesville, Arkansas: <br />Section <br />1. <br />That <br />the <br />refunding be <br />accomplished. <br />Section <br />2. <br />That <br />the <br />sale of the <br />bonds to the purchaser <br />and the conversion of the bonds set forth above be, and the same are <br />hereby, approved and confirmed. <br />Section 3. That under the authority of the Constitution - <br />and laws of the State of Arkansas, including particularly Amendment <br />No. 13 to the Constitution of the State of Arkansas, City of Batesville, <br />Arkansas General Obligation Refunding Bonds are hereby authorized <br />and ordered issued in the total principal amount of $163,250, the <br />proceeds of the sale of which are necessary to provide sufficient <br />funds for refunding the 1969 Bonds. The bonds shall be numbered <br />consecutively from 1 to 168, inclusive and shall be in the denomination <br />of $1,000 each, except Bond No. 6, which shall be in the denomination <br />of $1,250. The bonds shall be negotiable coupon bonds payable to <br />bearer but shall be subject to registration as to principal or as <br />to principal and interest. Payment of the bonds and interest coupons <br />shall be made at the principal office of First National Bank, Batesville, <br />Arkansas (the "Trustee" and "Paying Agent"). Payment of interest, <br />when registered as to interest, may be by check or draft mailed to <br />the registered owner at the address shown on the registration book <br />of the City maintained by the Trustee. The bonds shall be dated <br />September 1, 1977, and shall mature on September 1 of each year, <br />as follows, but are callable for redemption prior to maturity as <br />hereinafter set forth: <br />