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RESOLUTION NO. C�OolY'"a_q-CQ—I? <br /> A RESOLUTION OF INTENT REGARDING <br /> THE BATESVILLE WATER TREATMENT PLAN IMPROVEMENTS PROJECT <br /> WHEREAS, the City of Batesville, Arkansas (the "City") proposes to acquire, <br /> construct and equip improvements to the Batesville Water Treatment facilities(the"Project") and <br /> water and sewer systems (the "System"); and <br /> WHEREAS, the City proposes to obtain funds to accomplish the Project from the <br /> proceeds of water and sewer revenue bonds(the'Bonds")to be issued by the City in the maximum <br /> aggregate principal amount of$110Million and purchased in multiple advances by the Arkansas <br /> Development Finance Authority ("ADFA") as a part of the [Drinking][Clean] Water State <br /> Revolving Loan Fund Program administered by the Arkansas Natural Resources Commission(the <br /> "Program"); and <br /> WHEREAS,the purchase price for the Bonds will be paid from proceeds of bonds <br /> issued by ADFA or other federal or state funds made available by the Program; and <br /> WHEREAS, the purpose of this Resolution is for the City to declare its 'official <br /> intent" for the reimbursement of certain expenditures, within the meaning of Regulation Section <br /> 1.150-2 promulgated by the United States Treasury Department(the "Regulation"); <br /> NOW THEREFORE, BE IT RESOLVED by the City Council of the City of <br /> Batesville,Arkansas: <br /> Section 1. The City hereby expresses its official intent to advance its own funds <br /> to pay costs of the Project prior to the issuance of the Bonds and to reimburse itself from proceeds <br /> of the Bonds. This Resolution shall be considered an "official intent" for purposes of the <br /> Regulation. <br /> Section 2. The City expects that, but does not limit, the sources of funds to be <br /> advanced for the Project prior to issuance of the Bonds will be System revenues. <br /> Section 3. A copy of this Resolution shall be filed in the official records of the <br /> City in the office of the City Clerk within ten(10) days from the adoption hereof. <br /> PASSED: o , 2024. <br /> APPROVED: <br /> All A.- <br /> Rick Elum ayor <br /> aST: <br /> Denise M. Johnston, City rk <br />