Laserfiche WebLink
RESOLUTION NO. <br />A RESOLUTION AUTHORIZING THE ACCEPTANCE OF A LOAN AGREEMENT FOR <br />THE EXPANSION AND IMPROVEMENT OF A SERIES OF MOUNTAIN BIKE TRAILS <br />WHEREAS, the City of Batesville, Arkansas (the "City") proposes to acquire, <br />construct, expand, and improve a series of mountain bike trails within the City (the "Project'); and <br />WHEREAS, the City proposes to obtain funds to accomplish the Project from the <br />proceeds of a Grant from the Arkansas Department of Parks, Heritage, and Tourism; and <br />WHEREAS, the Walton Family Foundation has generously agreed to match the <br />state Grant funds in the form of a loan. <br />NOW THEREFORE, BE IT RESOLVED by the City Council of the City of <br />Batesville, Arkansas: <br />Section 1. The City hereby authorizes the Mayor to enter into the Loan <br />Agreement and Promissory Note attached hereto as Exhibit "1." <br />PASSED AND APPROVED this _' day of September, 2025. <br />ATTESTED: <br />Em <br />Jessica Davis, City Clerk <br />APPROVED: <br />mm <br />Mayor Rick Elumbaugh <br />