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RESOLUTION NO. 2Q. _C -( '-)-Q`-IP_ <br /> A RESOLUTION AUTHORIZING THE ACCEPTANCE OF A LOAN AGREEMENT FOR <br /> THE EXPAlvTSION AND IMPROVEMENT i� ti SERiE OF iv10L'i`AI IN 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"L" <br /> PASSED AND APPROVED this 2``' day of September, 2025. <br /> APPROVED: <br /> BY: X" <br /> Mayor P6 El <br /> ATTESTED: <br /> AMO(Ar4-�� <br /> Jessica Davis, C i ty Clerk <br />