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°err' �+rr► <br />ORDINANCE NO. / I'-, -IZ <br />AN ORDINANCE DIRECTING THAT THE QUESTION OF <br />ISSUING BONDS FOR THE PURPOSE OF CONSTRUCTING <br />A BRIDGE WITHIN THE CORPORATE LIMITS OF THE <br />CITY BE SUBMITTED TO THE VOTERS OF THE CITY OF <br />BATESVILLE, ARKANSAS; PRESCRIBING OTHER MATTERS <br />RELATING THERETO; AND DECLARING AN EMERGENCY. <br />WHEREAS the City of Batesville, Arkansas (called "City"), <br />is a city of the first class; and <br />WHEREAS after a proper investigation it has been deter- <br />mined that in order to regulate traffic in downtown Batesville and <br />reduce traffic hazards a bridge should be constructed between <br />Broad Street and Bayou Street to span the Missouri Pacific Railroad <br />tracks and Poke Bayou; and <br />WHEREAS the City does not have the necessary funds needed <br />for the proposed construction of said bridge but can obtain the <br />same by the issuance of bonds under the provisions of Amendment No. <br />13 to the Constitution of the State of Arkansas, subject to the <br />approval of the electors; <br />NOW, THEREFORE, BE 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 Batesville, Arkansas, <br />on the day of <br />, 1964, at which election <br />there shall be submitted to the electors of the City the question <br />of issuing General Obligation Bridge Bonds under the provisions <br />of Amendment No. 13 to the Constitution of the State of Arkansas <br />in an anount not to exceed $220,000 for the purpose of financing <br />the cost of constructing a bridge between Broad Street and Bayou <br />Street in the City, paying necessary expenses incidental thereto, <br />paying the expenses of issuing the bonds, and providing debt <br />service on the bonds until tax proceeds are available therefor. <br />