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12. That the Board of Directors of the corporation shall <br /> make a complete report of its activities, including a complete <br /> financial report, to the Quorum Court of Independence County and <br /> the City of Batesville, Arkansas, no less often than annually. <br /> 13. That upon the passing of an ordinance b the <br /> Y Quorum <br /> Court of Independence County, Arkansas, identical to this ordinance, <br /> the interlocal agreement described herein shall be deemed to have <br /> been made and shall enter into force upon approval by the Attorney <br /> General of the State of Arkansas, as .provided by law, and upon <br /> filing with the Secretary of State and the Independence County <br /> Clerk of the said ordinances. <br /> PASSED and APPROVED on this bEcer eEQ, <br /> day of 4--eff&e�, 1980. <br /> Peyton lden, Mayor <br /> ATTEST: / <br /> �GUVt,y W <br /> Larry Wi Hams, City Clerk <br /> 14. Emer encu Clause As the citizens of the City of Batesville, <br /> Arkansas, have spoken favorably throuoh the passage of a bond issue to promote <br /> further industrial growth; and as public funds are noir available for suc,, <br /> project, it is deemed momentarily urgent to move forward immediately in the <br /> furtherance of the will of the Citizens as expeditiously as Possible in a <br /> regulated manner. Therefore, an emergency is ,hereby declared to exist and <br /> this Ordinance being necessary for the irmediate preservation of the public <br /> peace, health and safety shall be in full force and effect from and after its <br /> passage and approval. <br /> L.atcd: /a-9 -S o nf <br /> Mayo r <br /> ".ttest: <br /> City Clerk <br /> 4 — <br />