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OR IN.ANCE NG . 1 <br />":.N ORDINANCE RGVI %INC FOR THE ='.0+_�UI1ITIOK OF <br />A W \TERI,70 J S SYST"I'i AKA M` CONST UCTION OF <br />EXTEENSIONS, BETT M/11].NTS yND Ii: PROV1,11 NITS TNi3MTO; <br />FI?�ING 14ATi-2%. R.%YES; ROVI_)ING FOR THE ISSUANCE <br />OF !,TATE1 %T'ORXS REVENUE BGN� S , 'S TTItlC UP CERT'A'IN <br />FUNDS FOR 1H_L,IR 11)AYNENT; R"J:SCRI SING OTHIM P'it^TTa iaS <br />?J,L.:,TIPd� THERETO; :C,.RIT<T Ii� �I%i :RST tic; Y. <br />the City of Batesville, :,�.r?;.an sas is ?resently <br />served by a Waterworks System (herein sometimes referrer to as <br />the `'system"') ow.ned by Batesville t'?ater Company, Inc. (herein <br />sometimes referred to as `Com_")any'); anc <br />17HERE AS the City Council has determined that it would <br />be in the best interests of the City of Batesville and the in- <br />habitants thereof for the City to acquire the waterworks facilities <br />owned by the Company; and <br />WHEREAS the representatives of the City and of the <br />Company have a reed upon the terms of the 7urchase of said water- <br />works facilities, said terms being set -forth in an %:.greement <br />executed by the City of Batesville and the Corn3any on the 10th <br />day of 'august, 1961; anti <br />vJ'Hd71R1>S the CiL_y% Council has determined, after necessary <br />study and investigation, that the Trice to be paid by the City <br />is reasonable and in the best interests of the City and its in- <br />habitants; and <br />1, <br />,H)]R AS the estimated cost of acquiring the Facilities <br />of the Company is a,,)?roximacely W35,000 (there being provision <br />made in the Agreement- between the City and the Company for <br />additional consideration if the City elects to purchase materials <br />