Laserfiche WebLink
w VW <br />I <br />equipment installed therein as of the date of the issuance and de- <br />livery of the City's bonds, and that the City, by assignment from <br />Independence County, Arkansas Industrial Development Corporation, <br />will assume the latter's rights and obligations under all out- <br />standing architectural, engineering and construction contracts and <br />under the Agreement and the Lease wherein Independence County, <br />Arkansas Industrial Development Corporation is Lessor and White - <br />Rodgers is Lessee, dated theme day of January, 1961, for a <br />consideration, in addition to assuming Independence County, Arkansas <br />Industrial Development Corporation's obligations as aforesaid, <br />sufficient to reimburse Independence County, .Arkansas Industrial <br />Development Corporation for all expenditures theretofore made by <br />it on and in connection with the Project and/or assuming obligations, <br />including the principal and interest of any interim financing, incurred <br />by Independence County, Arkansas Industrial Development Corporation <br />on and in connection with the Project; and <br />WHEREAS pursuant to its undertaking to furnish the per- <br />manent financing, the City submitted to its electors the question <br />of issuing Industrial Development Revenue Bonds under the pro- <br />visions of Act No. 9 in an amount not to exceed $1,750,000 for the <br />purpose of furnishing said permanent financing for the Project, <br />paying all necessary expenses incidental thereto, debt service dur- <br />ing construction and the expenses of issuing the bonds; and <br />WHEREAS the electors of the City approved the issuance <br />of said bonds for said purposes at the special election held on the <br />29th day of November, 1960; and <br />WHEREAS the Lease wherein Independence County, Arkansas <br />Industrial Development Corporation is Lessor and White -Rodgers is <br />v` Lessee, dated the day of January, 1961, has been or will be <br />t <br />