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RESOLUTION NO. 2022 ja-0/—g <br /> - <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 /> /-,.:;Z_1A�_ <br /> RICK ELUMBAUGH, MAYOR <br /> ATTEST: <br /> ENISE JOHNSTON, CIVf CLERK <br />