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HomeMy WebLinkAbout847ORDINANCE NO. 847 AN ORDINANCE AUTHORIZING A SALE AGREEMENT BY AND BETWEEN THE CITY OF BATESVILLE, ARKANSAS, AND THE GENERAL TIRE & RUBBER COMPANY, IN SUBSTANTIALLY THE CONTENTS SET FORTH IN AND IVLADE A PART OF THIS ORDI-- NANCE, AND, IN CONNECTION THEREWITH, AN ESCROW AGREEMENT IN SUBSTANTIALLY THE CONTENTS SET FORTH IN AND MADE A PART OF THIS ORDINANCE; AUTHORIZING THE EXECUTION AND DELIVERY OF THE SALE AGREEMENT AND THE ESCROW AGREEMENT; PRESCRIBING OTHER MATTERS RELATING THERETO; AND DECLARING AN EMERGENCY. BE IT ORDAINED by the City Council of the City of Batesville, Arkansas: Section 1. That there be, and there is hereby authorized the execution and delivery of a Sale Agreement (the "Sale Agreement") between the City of Batesville, Arkansas (the "City") and The General Tire & Rubber Company, an Ohio corporation (the "Company") , in substantially the form and with substan- tially the contents hereinafter set forth, and the Mayor and City Clerk be, and they are hereby, authorized to execute, acknowledge and deliver the Sale Agree- ment for and on behalf of the City. The form and contents of the Sale Agreement, which are hereby approved and which are made a part hereof, shall be substan- tially as follows: L� -A Section 2. That there be, and there is hereby authorized the execution and delivery of an Escrow Agreement (the "Escrow Agreement") in substantially the form and with substantially the contents herein set forth, and the Mayor and City Clerk be, and they are hereby, authorized to execute, acknowledge and deliver the Escrow Agreement for and on behalf of the City. The form and contents of the Escrow Agreement, which are hereby approved and which are made a part hereof, shall be substantially as follows: 009 M '0rr, Section 3. 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 otherwise take all action necessary to the realization of the City's rights and to the discharge of the City's obligations as Seller under the Sale Agreement. Section 4. That the provisions of this Ordinance are hereby declared to be severable, and if any section, phrase or provision shall, for any reason, be declared to be invalid, such declaration shall not affect the validity of the remainder of the sections, phrases and provisions. Section 5. That all ordinances and parts thereof in conflict herewith are hereby repealed to the extent of such conflict. Section 6. That there is hereby found and declared to be an immediate need for the securing and developing of industry in order to provide additional employment and increased payrolls, alleviate unemployment and provide other benefits incidental to the.operation of a substantial industry, and the execution M and delivery of the Sale Agreement authorized by this Ordinance are necessary for the accomplishment of these public benefits and purposes. It is, therefore, declared that an emergency exists, and this Ordinance, being necessary for the immediate preservation of the public health, safety and welfare, shall be in force and take effect immediately upon and after its passage. PASSED: ATTEST: City Clerk (SEAL) 1975. APPROVED: Mayor .fir. C3 CERTIFICATE The undersigned, City Clerk of Batesville, Arkansas, hereby certifies that the foregoing pages are a true, correct and compared copy of Ordinance No. of the City of Batesville , Arkansas, passed at a session of the City Council of Batesville, Arkansas, held at the regular meeting place of the Council at o'clock , M. , on the day of , 1975, and that the Ordinance is of record in Ordinance Record Book No. at Page , now in my possession. GIVEN under my hand and the seal of the City this day of 1975. (SEAL) City Clerk IBM L. EXCERPTS FROM MINUTES OF A MEETING OF THE BATESVILLE, ARKANSAS CITY COUNCIL HELD APRIL 22 , 19 75 The City Council of the City of Batesville Arkansas met in R?GTTLAR session at its regular meeting place in atesville , Arkansas at 7,:00 o'clock P .m., on the 22 day of APRIL 1975 The following were present: Mayor PEYTO?f GOLDEN City Clerk MAR117! R. SA°ITH NOEL DONE, JOTPI DAVIES . and Aldermen BOYCE NASH$ JIM 91FIMIT I , LYN^T t1T I T T AMS , S` V"T `40011 JR. Absent: 1 A.J. BECWAN SETH WTT LF7S, The Mayor stated that consideration should be given to an ordinance authorizing a. Sale Agreement by and between the City and The General Tire & U Rubber Company and an Escrow Agreement by and between the City and the Trustee in connection with issuing Industrial Development Revenue Bonds This was a matter with which the Council was familiar and after a discussion, Alderman S"',Vj `400D introduced an ordinance entitled: 41, AN ORDINANCE AUTHORIZING A SALE AGREEMENT BY AND BETWEEN THE CITY OF BATESVILLE, ARKANSAS, AND THE GENERAL TIRE & RUBBER COMPANY, IN SUBSTANTIALLY THE CONTENTS SET FORTH IN AND MADE A PART OF THIS ORDI NANCE, AND, IN CONNECTION THEREWITH, AN ESCROW AGREEMENT IN SUBSTANTIALLY THE CONTENTS SET FORTH IN AND MADE A PART OF THIS ORDINANCE; AUTHORIZING THE EXECUTION AND DELIVERY OF THE SALE AGREEMENT AND THE ESCROW AGREEMENT; PRESCRIBING OTHER MATTERS RELATING THERETO; AND DECLARING AN EMERGENCY. C.P T �1FN and the City aKM 1`TAVOR read the ordinance in full. Irm 009 Alderman _ F-77 WTT T O NOFL Fn',T Page 2 F seconded by Alderman moved that the rule requiring the reading of an ordinance or resolution in full on three different days be suspended and that the ordinance be placed on its second reading. The Mayor put the question on the adoption of the motion and the roll being called, the following voted aye: ALL 70TFP FOR and the following voted nay: NONE Thereupon the Mayor declared that at least two-thirds of all members of the Council having voted in favor of the motion to suspend the rule, the motion was carried and the rule suspended. The ordinance was then read by MAYOR JOLTIEN the City 'k Alderman Lv_NN V-111TAMS seconded by Alderman A.J. BI..CKM-AN then moved that the rule requiring the reading of an ordinance in full on three different days be further suspended and that the ordinance be placed on its third reading. The Mayor put the question on the adoption of the motion and the roll being called the following voted aye: ALI VOT,� FOF and the following voted nay:_ PTr)"TE The Mayor declared that at least two-thirds of all members elected to *mow the Council having voted in favor of the motion to suspend the rule, the motion was carried and the rule suspended. The ordinance was then read by the City V "X MAYOR GOIDtZA gn Page 3 Eon Alderman —dQ�W DAMES seconded by Alderman STAN WOOD JR.. , moved that the ordinance be adopted. The question was put by the Mayor on the adoption of the motion and the roll being called, the following voted aye: ALL VOTED "OR „ and the following voted nay: rd"1E Alderman T4N '4XM ,M seconded by Alderman A.J. RIC111AN moved that Section 6 , the emergency clause, be adopted, and on roll call the following voted aye: ALL VOTED FOR W1 ? CLL "ALL and the following voted nay: The Mayor thereupon declared the ordinance and the emergency clause adopted and signed the ordinance, which was attested by the City Clerk and impressed with the seal of the City. The ordinance was given No. Pit? (Matters not relating to Sale Agreement by and between the City and The General Tire & Rubber Company and an Escrow Agreement by and between the _City and the Trustee are omitted.) There being no further business, the Council adjourned. ATTEST: City Clerk (SEAL) Mayor CERTIFICATE rM The undersigned, City Clerk of Batesville , Arkansas, hereby certifies that the foregoing pages numbered 1 to 3, inclusive, are a true and correct copy of excerpts of the minutes of a meeting of the City Council of the City of Batesville Arkansas, at a REGULAR. session held at the regular meeting place of the Council in said City at 7:00 P M. on PARTL 22 19 75 , 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. 63 of the Acts of Arkansas of 1967. CERTIFIED this 23 , day of AMTT, , 19 75 CITY CLERK (SEAL) M Em M pq C'"'7 r.r EXCERPTS FROM MINUTES OF A MEETING OF THE BATESVILLE, ARKANSAS The City Council of the City of ITY COUNCIL HELD , 1975 Batesville 11 Arkansas met in session at its regular meeting place in Batesville Arkansas at sf o'clock .m., on the day of 1975 The following were present: Mayor City Clerk and Aldermen i rt Absent: The Mayor stated that consideration should be given to an ordinance authorizing a Sale Agreement by and between the City and The General Tire & Rubber Company and an Escrow Agreement by and between the City and the Trustee in connection with issuing Industrial Development Revenue Bonds This was a matter with which the Council was familiar and after a discussion, Alderman i c, K ( introduced an ordinance entitled: AN ORDINANCE AUTHORIZING A SALE AGREEMENT BY AND BETWEEN THE CITY OF BATESVILLE, ARKANSAS, AND THE GENERAL TIRE & RUBBER COMPANY, IN SUBSTANTIALLY THE CONTENTS SET FORTH IN AND MADE A PART OF THIS ORDI- NANCE, AND, IN CONNECTION THEREWITH, AN ESCROW AGREEMENT IN SUBSTANTIALLY THE CONTENTS SET FORTH IN AND MADE A PART OF THIS ORDINANCE; AUTHORIZING THE EXECUTION AND DELIVERY OF THE SALE AGREEMENT AND THE ESCROW AGREEMENT; PRESCRIBING OTHER MATTERS RELATING THERETO; AND DECLARING AN EMERGENCY. t1 and the Ey Crk' read the ordinance in full. Page 2 Alderman ✓ _-� seconded by Alderman j.. ,moved that the rule requiring the reading of an ordinance or resolution in full on three different days be suspended and that the ordinance be placed on its second reading. The Mayor put the question on the adoption of the motion and the roll being called, the following voted aye: and the following voted nay: Thereupon the Mayor declared that at least two-thirds of all members of the Council having voted in favor of the motion to suspend the rule, the motion was carried and the rule suspended. The ordinance was then read by the Eitp-_-Viler-lc Alderman t.l.! n seconded by Alderman then moved that the rule requiring the reading of an ordinance in full on three different days be further suspended and that the ordinance be placed on its third reading. The Mayor put the question on the adoption of the motion and the roll being called the following voted aye: and the following voted nay: The Mayor declared that at least two-thirds of all members elected to the Council having voted in favor of the motion to suspend the rule, the motion was carried and the rule suspended. The ordinance was then read by the .gkp- Cle r. ,% Page 3 Alderman ti i z seconded by Alderman . ------ moved that the ordinance 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: Alderman seconded by Alderman ,rL moved that Section 6 , the emergency clause, be adopted, and on roll/call the following voted aye: and the following voted nay: The Mayor thereupon declared the ordinance and the emergency clause adopted and signed the ordinance, which was attested by the City Clerk and impressed with the seal of the City. The ordinance was given No. (Matters not relating to Sale Agreement by and between the City and The ,.. General Tire & Rubber Company and an Escrow Agreement by and between the City and the Trustee are omitted.) There being no further business, the Council adjourned. Mayor ATTEST: City Clerk (SEAL) EM CM CERTIFICATE The undersigned, City Clerk of Batesville , Arkansas, hereby certifies that the foregoing pages numbered 1 to 3, inclusive, are a true and correct copy of excerpts of the minutes of a meeting of the City Council of the City of Batesville , Arkansas, at a session held at the regular meeting place of the Council in said City at M. on 19 75 , and the tune and place of the meeting was furnished to each person who made a request therefor in accordance with the provisions of Act No. 63 of the Acts of Arkansas of 1967. CERTIFIED this day of , 19 75 (SEAL) CITY CLERK