Laserfiche WebLink
• LEASE AGREEMENT <br /> This LEASE AGREEMENT, dated as of December 1, 2008, by and between CITY OF <br /> BATESVILLE,ARKANSAS,a municipality organized and existing under the laws of the State of <br /> Arkansas(the"Issuer"),and SCROLL COMPRESSORS LLC,a limited liability company organized <br /> and existing under and by virtue of the laws of the State of Delaware (the "Company"). <br /> WITNESSETH: <br /> WHEREAS,the Issuer is authorized and empowered underthe laws ofthe State ofArkansas, <br /> including particularly Title 14,Chapter 164, Subchapter 2 of the Arkansas Code of 1987 Annotated <br /> (the"Act"),to issue revenue bonds and expend the proceeds thereof to finance the cost of acquiring, <br /> constructing and equipping facilities for securing or,developing industry; and <br /> WHEREAS, certain industrial facilities (described in Article I hereof and collectively <br /> referred to herein as the "Project")have been, and are being acquired, constructed and equipped by <br /> or on behalf of the Company within the corporate boundaries of the Issuer; and <br /> WHEREAS,at the request of the Company and in furtherance of the purposes of the Act,the <br /> Issuer proposes to issue its revenue bonds under the Act in the aggregate principal amount of not to <br /> exceed $100,000,000 (identified in Article I hereof and referred to herein as the 'Bonds"), for the <br /> purpose of financing the cost of acquiring, constructing and equipping the Project, and to lease the <br /> • Project to the Company upon the terms and conditions set forth herein; and <br /> WHEREAS,the Company is entering into this Lease Agreement for the purpose of achieving <br /> ad valorem tax savings with respect to the Project, the accomplishment of which the Issuer has <br /> determined will furnish substantial employment and payrolls and will therebypromote the economic <br /> welfare of the inhabitants of the City of Batesville,Arkansas and adjacent areas in furtherance of the <br /> public purpose of the Act; <br /> NOW, THEREFORE, for and in consideration of the premises and the mutual covenants <br /> herein made, the receipt and sufficiency of which are hereby acknowledged, and subject to the <br /> conditions herein set forth, the parties hereto agree as follows: <br />