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ORDINANCE NO. — AN ORDINANCE FIXING RATES FOR SERVICES FURNISHED BY THE SANITARY SEWER SYSTEM OF THE CITY OF BATES- VILLE, ARKANSAS; PRESCRIBING THE METHOD OF BILLING; PRESCRIBING OTHER MATTERS RELATING THERETO; AND DECLARING AN EMERGENCY. WHEREAS, the present Sanitary Sewer System Facilities of the City of Batesville, Arkansas (called "City"), are inadequate and an immediate need exists for the construction of substantial betterments and improvements thereto; and WHEREAS, the Sewer Committee of the City has had prepared by Roy Rosin, Consulting Engineer, Heber Springs, Arkansas, an Engineering Report and Estimate of Cost covering the needed betterments and improvements, which Engineering Report has been approved by the Sewer Committee and recommended to the City Council of the City; and WHEREAS, the City Council has studied the Report which, generally stated, recommends the removal of some existing and installation of new col- lection lines, enlarging interceptor lines; a new treatment plant for complete treatment; and the extension of the sever service to areas that have been de- veloped or in the process of being developed, all with needed and related improvements and expenditures at a total estimated cost of approximately $950,000, of which the City must furnish approximately $515,000, with the balance to be obtained as grant funds from an agency of the Government of the United States of America; and WHEREAS, it has been determined that the only feasible way to finance the cost to the City of the needed betterments and improvements will be by the issuance of Sewer Revenue. Bonds in the principal amount of approximately $812,000, with the proceeds to be used to refund the outstanding Sewer Revenue Bonds of the City, dated January 1, 1954, and to finance the cost to the City of the betterments and improvements, necessary incidental expenses and expendi- tures and the cost of the authorization and the issuance of bonds; and