HomeMy WebLinkAbout1989-10-01 ORDINANCE NO. 21 - ) 0 —
AN
I0 —AN ORDINANCE TERMINATING FUTURE TAX LEVIES OF
QUAIL VALLEY SEWER IMPROVEMENT DISTRICT NO. 1 OF
BATESVILLE, ARKANSAS
WHEREAS, the City of Batesville, Arkansas (the
"City" ) , pursuant to Ordinance No. 886 passed and approved
February 14, 1978 ( "Ordinance No. 886" ) levied a tax on the
assessment of benefits of Quail Valley Sewer Improvement
District No. 1 of Batesville, Arkansas (the "District" ) for the
purpose of retiring the bonded indebtedness of the District; and
WHEREAS, First National Bank of Batesville (the
"Trustee" ) serves as trustee for the District' s $254, 400
Improvement Bonds, dated as of February 1, 1978 (the "Bonds" ) ;
and
WHEREAS, the Trustee and the Board of Commissioners of
the District have advised the City Council that the Trustee will
have in its possession on February 1, 1990 an amount sufficient
to pay in full the Bonds; and
WHEREAS, the Board of Commissioners of the District
have requested the City not to extend the tax for collection in
1990 or thereafter;
NOW THEREFORE, BE IT ORDAINED by the City Council of
the City of Batesville, Arkansas:
Section 1 . The tax on the assessed benefits of the
District levied by Ordinance No. 886 shall not be extended in
1989 for collection in 1990 or thereafter.
Section 2 . A certified copy of this Ordinance shall
be filed with the County Clerk and the County Collector of
Independence County, Arkansas (the "County" ) promptly in order
to keep the tax from being extended on the County' s books in
1989 for collection in 1990 or thereafter.
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Section 3 . All ordinances of the City and parts
thereof, including particularly Ordinance No. 886, in conflict
with this Ordinance are hereby repealed to the extent of such
conflict.
PASSED: ®� Q 1989
APPROVED:
ATTEST:
(J Mayor
City lCouncil
(SEAL)
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CERTIFICATE
The undersigned, City Clerk of the City of Batesville,
Arkansas, hereby certifies that the foregoing pages are a true
and perfect copy of Ordinance No. 39-JO - j , adopted at a REGut A2
session of the City Council of the City of Batesville, Arkansas,
held at the regular meeting place in the City at : o (o o' clock
P .m. , on the JOTA day of OCT09E7 -, 1989, and that the
Ordinance is of record in Ordinance Record Book No. E Page
I"7'7 , now in my possession.
GIVEN under my hand and seal on this )O TH day of
(OCTc8E2. 1989 .
City C1 rk
(SEAL)
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