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HomeMy WebLinkAbout1980-753-R RESOLUTION NO. ! 3 A RESOLUTION ACKNOWLEDGING THE INTENT OF AND COMMITMENT BY THE CITY OF BATESVILLE, ARKANSAS TO ISSUE REVENUE BONDS FOR THE PURPOSE OF FINANCING THE COSTS OF ACQUIRING, CONSTRUCTING AND EQUIPPING CERTAIN SOLID WASTE DISPOSAL FACILITIES; AND AUTHORIZING AND PRESCRIBING OTHER MATTERS PERTAINING THERETO. WHEREAS, the City of Batesville, Arkansas (the "City") owns and operates facilities for the collection, handling and disposal of garbage, trash and other refuse (the "System") ; and WHEREAS, the City proposes to acquire, construct and equip a solid waste disposal incinerator and associated facilities (W for the production of steam (the "Project") to be operated as part of the System; and WHEREAS, the City ,has made arrangements with U.S. Recycle Corp. , Little Rock, Arkansas , and Consumat Systems , Inc. , Richmond, Virginia, for the construction and purchase by the City of the Project, and has further made arrangements with The General Tire & Rubber Company, an Ohio corporation (the "Company") , for the sale of a portion of the steam to be produced by the operation of the Project, for use at the Company's manufacturing plant at the City; and WHEREAS, the City has been advised by the manufacturer of the Project that the construction of the Project will soon commence; and WHEREAS, the City has determined that prior to commence- ment of construction of the Project, it must acknowledge its intent and commitment to issue revenue bonds to finance, in whole or in part, the Project; NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Batesville, Arkansas . Section 1. The City hereby acknowledges the intent of and commitment by the City to issue revenue bonds under the Constitution and laws of the State of Arkansas , including particularly (but without limitation) Act No. 238 of the Acts of Arkansas of 1971, as amended, for the purpose of providing permanent financing of all or a portion of the cost of acquiring, constructing and equipping the Project. The Project consists of one Consumat brand "Energy-from-Waste System, " including waste disposal system, energy system, and feed water system. The cost of the Project is presently estimated to be $620 ,500. Section 2. That the Mayor and City Clerk be and they are hereby authorized and directed, for and on behalf of the City, to do all things , execute all instruments and other- wise take all action necessary to the realization of the City 's intent and commitment hereunder. Section 3. That this Resolution is intended as official action toward the issuance of the bonds within the meaning of Section 103 of the Internal Revenue Code and regulations thereunder. Section 4. That all resolutions and parts thereof in conflict herewith are hereby repealed to the extent of such conflict. Section 5. That this Resolution shall be in full force and effect from and after its passage. ADOPTED AND APPROVED this day of October, 1980 . ATTEST: Mayor LI) &U_� Y City Clerk (SEAL) CERTIFICATE I, the undersigned City Clerk of the City of Batesville, Arkansas, hereby certify that the foregoing pages are a true and compared copy of a Resolution adopted at asci session of the City Council of Batesville, Arkansas , held at the regular meeting place of the Council at T- 00 00 o'clock P m. , and that the Resolution is of record in Resolution Book No. Page -3 1 L , now in my possession. GIVEN under my hand and seal this day of October, 1980 . City Clerk (SEAL) EXCERPTS FROM MINUTES OF A MEETING OF THE BATESVILLE, ARKANSAS CITY COUNCIL HELD October 28 , 1980 The City Council of the City of Batesville , Arkansas , met in regular session at its regular meeting place in Batesville , Arkansas at '7 ; OCA P .m. , on the 28th day of October 1980 The following were present: Mayor City Clerk LJ*" �' ; and Aldermen Absent: The Mayor stated that consideration should be given to a resolution acknowledging the intent and commitment of the city of Batesville, Arkansas to issue revenue bonds This was a matter with which the Council was familiar and after a discussion, Alderman introduced a Resolution entitled: A RESOLUTION ACKNOWLEDGING THE INTENT OF AND COMMITMENT BY THE CITY OF BATESVILLE, ARKANSAS TO ISSUE REVENUE BONDS FOR THE PURPOSE OF FINANCING THE COSTS OF ACQUIRING, CONSTRUCTING AND EQUIPPING CERTAIN SOLID WASTE DISPOSAL FACILITIES; AND AUTHORIZING AND PRESCRIBING OTHER MATTERS PERTAINING THERETO. L (W and the City Clerk read the Resolution in full. -2- Alderman seconded by Alderman moved that the Resolution be adopted. The question was put by the Mayor on the adoption of the motion and the roll being called, the following voted aye: and the following voted nay: The Mayor thereupon declared the Resolution adopted and signed the Resolution, which was attested by the City Clerk and impressed with the seal of the City. The Resolution was given No. 753 - (Matters not relating to the Resolution acknowledging the intent to issue revenue bonds are omitted. ) There being no further business, the Council adjourned. Mayor ATTEST: ��City Clerk (SEAL) CERTIFICATE The undersigned, City Clerk of the City of Batesville , Arkansas , hereby certifies that the foregoing pages numbered 1 and 2 , are a true and correct copy of excerpts of the minutes of a meeting of the City Council of Batesville , Arkansas , at a regular session held at the regular meeting place of the Council in the City at " C) 0 - P .m. , on the 28th day of _October , 1980 and the time and place of the meeting was furnished to each person who made a request therefor in accordance with the provisions of Act No. 93 of the Acts of Arkansas of 1967 . A" 'City Clerk (SMU)