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14VAW <br />Page 2 <br />0 <br />Session of the Sixty -Second General Assembly of the State of <br />Arkansas, approved January 21, 1960 (hereinafter sometimes called <br />"'Act No. 9") in an amount not to exceed $1,750,000 for the purpose <br />of financing the cost of the Project and necessary expenses in- <br />cidental thereto, to the issuance of bonds, and to the providing <br />of interest during the construction of the Project; and <br />VR EREAS the Project will be leased to the Company, or <br />to a subsidiary, and if to a subsidiary the performance of all <br />covenants and obligations of the Lessee shall be unconditionally <br />guaranteed by the Company, for a lease rental sufficient to pay, <br />the principal of and interest on the said proposed Act No. 9 ;:ronds <br />and Paying Agent's fees in connection therewith, as the same be- <br />come due and payable, and the said lease rentals will be pledged <br />to the payment of the bonds, interest and Paying Agent's fees and <br />the bonds will be secured by a statutory first mortgage on the <br />Project; and <br />WHEI.EAS the estimated amount necessary to finance the <br />cost of the Project and necessary expenses incidental thereto, to <br />the issuance of bonds, and to the providing of interest during <br />the construction of the Project is X1,750,000; <br />NW, "i' IE:AEFORE, LE IT ORDAINED by the City Council of <br />the City of Batesville, Arkansas: <br />Section 1. That a special election be, and the same <br />is hereby, called to be held in the City of hatesville, Arkansas <br />on the 29 — day of <br />,vovemL)er , 1960, at which election <br />there shall be submitted to the electors the question of issuing <br />Industrial Development revenue Bonds under the provisions of Act <br />No. 9 in an amount not to exceed $1,750,000 for the purpose of <br />