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• OFFICIAL STATEMENT $2599009000* CITY OF BATESVILLE,ARKANSAS SALES AND USE TAX BONDS SERIES 2012 INTRODUCTION TO OFFICIAL STATEMENT This Introduction is subject in all respects to the more complete information contained in this Official Statement. The offering of the bonds to potential investors is made only by means of the entire Official Statement, including the cover page hereof and the exhibits hereto. A full review should be made of the entire Official Statement, as well as the Authorizing Ordinance described herein. This Official Statement of the City of Batesville, Arkansas (the "City") is furnished in connection with the offering by the City of its $25,900,000* principal amount of Sales and Use Tax Bonds, Series 2012, dated July 1, 2012 (the 'Bonds"). The Bonds are being issued for the purpose of financing all or a portion of the costs of acquiring, constructing, equipping and furnishing park and recreational improvements for the City (the "Improvements"), providing a debt service reserve and paying expenses of issuing the Bonds. See THE BONDS, Purposes for Bonds. The City is a city of the first class duly organized under the laws of the State of Arkansas (the "State") and is located in north central Arkansas. The City is authorized under Amendment No. 62 to the Constitution of the State("Amendment 62") and Title 14, Chapter 164, Subchapter 3 of the Arkansas Code of 1987 Annotated (the "Authorizing Legislation") to issue capital • improvement bonds and to expend the proceeds thereof for the intended purposes. See THE CITY AND THE COUNTY. The Bonds are not general obligations of the City,but are special obligations payable solely from collections from sales and use taxes (the "Taxes") levied by the City. See THE TAXES and THE BONDS, Security. The Taxes are levied as follows: one at the rate of 0.5% under Ordinance No. 2011-12-05, adopted December 27, 2011, under the authority of Title 26, Chapter 75, Subchapter 2 of the Arkansas Code of 1987 Annotated (the 'Bond Tax"); and one at the rate of 0.5% under Ordinance No. 2011-12-03, adopted December 27, 2011, under the authority of Title 26, Chapter 75, Subchapter 2 of the Arkansas Code of 1987 Annotated (the "Permanent Tax"). The voters approved the Taxes at a special election held March 13, 2012. Collections of the Bond Tax may only be used to pay obligations with respect to the Bonds. Collections of the Permanent Tax may be used to pay obligations with respect to the Bonds and for park and recreational purposes, for public safety purposes, including particularly, without limitation, police and fire, and for street purposes(collectively, the "Permanent Tax Uses"). The issuance of the Bonds and the pledging of the Taxes to the payment of the principal of and interest on the Bonds was approved at a special election held March 13, 2012. The Bonds are being issued pursuant to and in full compliance with Amendment 62 and the Authorizing Legislation and Ordinance No. of the City, adopted on 2012 (the "Authorizing Ordinance"). See THE AUTHORIZING ORDINANCE. The Bonds will be initially issued in book-entry form and purchasers of Bonds will not receive certificates representing their interest in the Bonds purchased. See THE BONDS, Book-Entry Only System. The Bonds will contain such other terms and provisions as described herein. See THE BONDS, Generallv. • 'Preliminary; subject to change.