2020-03-01-R - Laserfiche WebLink

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(b) a Loan Agreement and Security Agreement (the "Agreement") between the Board and the Corporation; (c) a Trust Indenture (the "Indenture")between the Board and a trustee bank to be selected by the Corporation(the "Trustee"); and (d) a Preliminary Official Statement (the "Preliminary Official Statement")relating to the Bonds; NOW, THEREFORE, BE IT RESOLVED by the City of Batesville, Arkansas Public Facilities Board: Section 1. The issuance of the Bonds in the aggregate principal amount of not to exceed $42,000,000 is authorized. The Bonds shall be issued in the form and denominations; shall be dated; shall be numbered; shall mature not later than April 1, 2032; shall have a true interest cost (after taking into account original issue discount and premium and Underwriter's discount, but excluding costs of issuing the Bonds)not greater than 3.60%; and shall be subject to redemption prior to maturity all upon the terms and conditions recommended by the Corporation and to be set forth in the Indenture. The maturity schedule and the interest rate per maturity shall be approved by the Chairman or Vice Chairman of the Board. The Bonds may be divided into multiple series if taxable and tax-exempt bonds are being issued, if advantageous for planning purposes or if necessitated for federal income tax purposes, as determined by the Chief Financial Officer of the Corporation, and, if multiple series are issued, each series shall have a letter designation, commencing with "A." As determined by the Corporation, the Bonds may be issued to provide funds to accomplish all or any combination of the purposes authorized hereby. Section 2. Within the parameters described in Section 1 of this Resolution and in accordance with the request of the Corporation that the sale of the Bonds be made on a negotiated basis, the Bonds shall be sold to the Underwriter for the purchase price (which shall include an Underwriter's discount not greater than 1.20%), plus accrued interest, if any, from the date of the Bonds to the date of delivery, and upon the terms and conditions set forth in the Bond Purchase Agreement. The Chairman, Vice Chairman and Secretary are each hereby authorized and directed to execute and deliver, for and on behalf of the Board,the Bond Purchase Agreement to the Underwriter and the Corporation. In addition to the compensation in the form of Underwriter's discount, the Underwriter shall be entitled to such other compensation and to the reimbursement of such expenses as shall be agreed upon by the Corporation and the Underwriter so long as such amounts are payable from proceeds of the Bonds or by the Corporation. Section 3. To prescribe the terms and conditions upon which the Bonds are to be executed, issued, accepted, held and secured, the Chairman,Vice Chairman and Secretary of the Board are each hereby authorized and directed to execute and deliver, for and on behalf of the Board,the Indenture to the Trustee. Section 4. There is hereby authorized the loan of the proceeds of the Bonds to the Corporation in accordance with the provisions of the Loan Agreement. The Chairman, Vice 3