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. 1%W 4 <br /> RESOLUTION NO. <br /> A RESOLUTION OF THE CITY COUNCIL OF BATESVILLE, <br /> ARKANSAS AUTHORIZING THE ENTRY INTO AN AGREEMENT TO <br /> ISSUE BONDS FOR THE PURPOSE OF ASSISTING IN THE FINANCING <br /> OF AN INDUSTRIAL FACILITY TO BE LOCATED NEAR THE CITY. <br /> WHEREAS, the City of Batesville, Arkansas (the "City"), is authorized under the <br /> provisions of the Municipalities and Counties Industrial Development Revenue Bond Law, <br /> Arkansas Code Annotated (1998 Repl.) §§ 14-164-201 to -224 (the "Act"), to own, acquire, <br /> construct, reconstruct, extend, improve, equip, operate, maintain, sell, lease, or contract <br /> concerning, or otherwise deal in or dispose of any land, buildings or facilities for securing and <br /> developing industry within or near the City and to assist in the financing thereof by the issuance <br /> of bonds payable from the revenues derived in connection with such land, buildings or facilities; <br /> and <br /> WHEREAS, Professional Dental Technologies, Inc., a Nevada corporation engaged in <br /> the business of the manufacture of dental products (the "Company"), has evidenced its interest <br /> in acquiring, constructing and equipping an industrial facility to be located near the corporate <br /> boundaries of the City if permanent financing can be provided through the issuance of bonds <br /> under the authority of the Act; and <br /> WHEREAS, the City desires to assist the Company in order to secure and develop <br /> industry near the City, and to aid in the financing thereof under the provisions of the Act; and <br /> WHEREAS, it is desirable that the City enter into an Agreement to Issue Bonds for such <br /> purpose; <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF <br /> BATESVILLE, ARKANSAS, THAT: <br /> Section 1. The Mayor and the City Clerk of the City be authorized and directed to enter <br /> into an Agreement to Issue Bonds in substantially the form and substance as follows: <br /> AGREEMENT TO ISSUE BONDS <br /> THIS AGREEMENT is made as of May 26, 1998, by and between the CITY OF <br /> BATESVILLE, ARKANSAS, a municipal corporation organized and existing under the laws <br /> of the State of Arkansas (the "City"), and PROFESSIONAL DENTAL TECHNOLOGIES, <br /> INC., a Nevada corporation (the "Company"), for the purpose of carrying out the purposes set <br /> forth in the Municipalities and Counties Industrial Development Revenue Bond Law, Arkansas <br /> Code Annotated (1998 Repl.) §§ 14-164-201 to -224 (the "Act"). <br />