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ORDINANCE NO.'S n
<br />AN ORDINANCE PROVIDING FOR THE ISSUANCE OF SEWER
<br />REVENUE BONDS OF THE CITY OF BATESVILLE, ARKANSAS,
<br />FOR THE PURPOSE OF REFUNDING CERTAIN OUTSTANDING
<br />SEWER REVENUE BONDS OF THE CITY IDENTIFIED IN THE
<br />ORDINANCE AND PAYING THE COST TO THE CITY OF CON-
<br />STRUCTING EXTENSIONS, BETTERMENTS AND IMPROVEMENTS
<br />TO THE SEWER SYSTEM OF THE CITY; PROVIDING FOR THE
<br />PAYMENT OF THE PRINCIPAL OF AND INTEREST ON THE
<br />SEWER REVENUE BONDS; PRESCRIBING OTHER MATTERS
<br />RELATING THERETO; AND DECLARING AN EMERGENCY.
<br />s
<br />WHEREAS, the Sewer Committee of the City of Batesville, Arkansas
<br />(called "City") , has had prepared by Roy Rosin, Consulting Engineer, Heber
<br />Springs, Arkansas, an Engineering Report and estimates of cost of the needed
<br />extensions, betterments and improvements (called "Engineering Report") , which
<br />Engineering Report has been approved by the Sewer Committee and recommended
<br />to the City Cout_gil of the City; and
<br />WHEREAS, the City Council has studied the Engineering Report which,
<br />generally stated, recommends the removal of some existing and installation of
<br />new collection lines, enlarging interceptor lines; a new treatment plant for com-
<br />plete treatment; and the extension of the sewer service to areas that have been
<br />developed or in the process of being developed, all with needed and related
<br />improvements and expenditures, at a total estimated cost of approximately
<br />$950,000, of which the City must furnish approximately $515,000, with the
<br />balance to be obtained as grant funds from an agency of the Government of the
<br />United States of America; and
<br />WHEREAS, it has been determined that the most feasible way to finance
<br />the cost to the City of the extensions, betterments and improvements hereinabove
<br />described (called "project") upon the most favorable terms to the City and upon
<br />the most favorable terms and conditions to the users of the Sewer System of the
<br />City will be by the issuance of Sewer Revenue Bonds to refund the outstanding
<br />Sewer Revenue Bonds of the City, dated January 1, 1954, and to obtain the
<br />necessary moneys to be supplied by the City for financing the project, paying
<br />D
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<br />1J
<br />ORDINANCE NO.'S n
<br />AN ORDINANCE PROVIDING FOR THE ISSUANCE OF SEWER
<br />REVENUE BONDS OF THE CITY OF BATESVILLE, ARKANSAS,
<br />FOR THE PURPOSE OF REFUNDING CERTAIN OUTSTANDING
<br />SEWER REVENUE BONDS OF THE CITY IDENTIFIED IN THE
<br />ORDINANCE AND PAYING THE COST TO THE CITY OF CON-
<br />STRUCTING EXTENSIONS, BETTERMENTS AND IMPROVEMENTS
<br />TO THE SEWER SYSTEM OF THE CITY; PROVIDING FOR THE
<br />PAYMENT OF THE PRINCIPAL OF AND INTEREST ON THE
<br />SEWER REVENUE BONDS; PRESCRIBING OTHER MATTERS
<br />RELATING THERETO; AND DECLARING AN EMERGENCY.
<br />s
<br />WHEREAS, the Sewer Committee of the City of Batesville, Arkansas
<br />(called "City") , has had prepared by Roy Rosin, Consulting Engineer, Heber
<br />Springs, Arkansas, an Engineering Report and estimates of cost of the needed
<br />extensions, betterments and improvements (called "Engineering Report") , which
<br />Engineering Report has been approved by the Sewer Committee and recommended
<br />to the City Cout_gil of the City; and
<br />WHEREAS, the City Council has studied the Engineering Report which,
<br />generally stated, recommends the removal of some existing and installation of
<br />new collection lines, enlarging interceptor lines; a new treatment plant for com-
<br />plete treatment; and the extension of the sewer service to areas that have been
<br />developed or in the process of being developed, all with needed and related
<br />improvements and expenditures, at a total estimated cost of approximately
<br />$950,000, of which the City must furnish approximately $515,000, with the
<br />balance to be obtained as grant funds from an agency of the Government of the
<br />United States of America; and
<br />WHEREAS, it has been determined that the most feasible way to finance
<br />the cost to the City of the extensions, betterments and improvements hereinabove
<br />described (called "project") upon the most favorable terms to the City and upon
<br />the most favorable terms and conditions to the users of the Sewer System of the
<br />City will be by the issuance of Sewer Revenue Bonds to refund the outstanding
<br />Sewer Revenue Bonds of the City, dated January 1, 1954, and to obtain the
<br />necessary moneys to be supplied by the City for financing the project, paying
<br />
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