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RESOLUTION NO. 2007-9-1-R • A RESOLUTION OF INTENT REGARDING THE WASTEWATER COLLECTION AND TREATMENT SYSTEM IMPROVEMENT PROJECT WHEREAS, the City of Batesville, Arkansas (the "City")proposes to acquire, construct and equip improvements to the City's Wastewater Collection and Treatment System (the "Project"), described as follows: WHEREAS, the estimated costs of the Project and paying expenses are $30,000,000; and WHEREAS, the City does not have funds on hand to pay the costs of the Project and expenses; and WHEREAS, the City proposes to obtain funds to accomplish the Project and to pay expenses from tax-exempt bonds issued by the City and sold through an underwriter or to a bank or a governmental entity(the "City Bonds"); and WHEREAS the principal amount of the City Bonds allocated to the Project and expenses will not exceed $ 30,000,000; and WHEREAS, the proceeds of the City Bonds will be made available to the City through the issuance by the City and sale to one or more of the entities listed above of an evidence of indebtedness of the City in the form of a bond; and WHEREAS, the purpose of this Resolution is for the City to declare its "official intent" for the issuance of the City Bonds within the meaning of United States Treasury Regulation §1.150-2; NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Batesville, Arkansas: Section 1: That the City hereby expresses its intent to advance its own funds to pay the costs of the Project and expenses and to reimburse itself from the proceeds of the City Bonds. Section 2: That a copy of the Resolution with original signatures shall be furnished by the Mayor to the Funding Entity. PASSED AND APPROVED this 1 lth day of September, 2007. CITY OF BATESVILLE, ARKANSAS Attest: Rick Elumbau , (W Denise M. Johnston, Cit Clerk (SEAL)