711 - Laserfiche WebLink

Home Browse Search

Page 3 no less and pay no more than it would receive and pay had the bonds not been converted; NOW, THEREFORE, BE IT ORDAINED by the City Council of the City of Batesville, Arkansas: Section 1. That the sale of $60,000 in principal amount of bonds to Southern Securities Corporation, Dabbs Sullivan Company, Inc., and E. L. Villareal & Company, Inc., all of Little Rock, Arkansas, for the price set forth above and the conversion of said bonds to an issue of $62,300 in principal amount as set forth above and is hereafter described in detail be, and the same are hereby, approved and confirmed. Section 2. That the public improvements described above be accomplished in accordance with plans, specifications and con- tracts approved by the City Council and copies of which shall be filed in the office of the City Clerk. Section 3. That under the authority of the Constitution and laws of the State of Arkansas, including particularly Amendment No. 13 to the Constitution of the State of Arkansas, City of Batesville General Obligation Improvement Bonds are hereby authorized and ordered issued in the total principal amount of $62,300, the proceeds of the sale of which are necessary to provide sufficient funds for accomplishing the public improvements for which the bonds were voted, pay the expenses of issuing the bonds not paid by the purchasers, and make any provision that is necessary for interest until tax collections are available in sufficient amounts therefor. The bonds shall be dated October 1, 1964, and interest thereon