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RESOLUTION NO.2022- <br />CITY OF BATESVILLE, ARKANSAS <br />A RESOLUTION AUTHORIZING THE MAYOR TO ENTER INTO A MORTGAGE ON <br />BEHALF OF THE BATESVILLE REGIONAL AIRPORT <br />WHEREAS, the Batesville Aviation Commission has determined that the Batesville <br />Regional Airport is in need of more hanger space; <br />WHEREAS, that in order to facilitate the construction of more hanger space, the <br />Batesville Aviation Commission has negotiated a twenty-year mortgage with First Community <br />Bank in the amount of $372,000; <br />WHEREAS, that said monies shall be repaid through the rental of said hanger space; and <br />WHEREAS, the City of Batesville owns said grounds where the hanger will be <br />constructed, and therefore the authorization of the Mayor is required. <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Batesville, <br />Arkansas: <br />Section 1: The Mayor of the City of Batesville is hereby authorized to execute any <br />and all documents necessary to effectuate the mortgage as described herein. <br />ADOPTED THIS DAY OF , 2022. <br />APPROVED: <br />RICK ELUMBAUGH, MAYOR <br />ATTEST: <br />DENISE JOHNSTON, CITY CLERK <br />