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• • RESOLUTION NO.400 J-4_a • RESOLUTION AUTHORIZING THE SALE OF BONDS TO REFUND THE CITY'S OUTSTANDING WATER AND SEWER REVENUE BONDS, SERIES 1995; AND PRESCRIBING OTHER MATTERS PERTAINING THERETO. WHEREAS, current bond market conditions make it possible to achieve significant savings by refunding the outstanding City of Batesville, Arkansas Water and Sewer Refunding Revenue Bonds, Series 1995 (the "Prior Bonds"); and WHEREAS, it is appropriate that the City proceed with the offering and sale of its Water and Sewer Refunding Revenue Bonds, Series 2001 (the "Bonds")for the purpose of refunding the Prior Bonds; and WHEREAS, Crews &Associates, Inc. has presented information to the City about the opportunity to refund the Prior Bonds and such firm should, as recommended by the Batesville Water Commission, be authorized to serve as the underwriter for the refunding; NOW THEREFORE, BE IT RESOLVED by the City Council of the City of • Batesville, Arkansas: Section.1. That the offering of the Bonds is hereby authorized. The Bonds may be offered in a total principal amount of not to exceed the amount required,with other available funds, to accomplish the refunding. Section 2. The Mayor,the Batesville Water Commission and other City officials are authorized to cooperate with Crews &Associates, Inc. in the preparation of a Preliminary Official Statement and in executing such writings and taking such actions as may be appropriate to the offering of the Bonds or any portion thereof. As issuance of the Bonds is, under Arkansas law, subject to approval of the City Council,by ordinance, any sale of the Bonds will be subject to approval of the City Council. Section 3. That the Council hereby engages Crews & Associates, Inc., to act as managing underwriter for the proposed Bonds. Section 4. That the authority given herein shall expire in 180 days. Section 5. That all resolutions and parts thereof in conflict herewith are hereby repealed to the extent of such conflict. •