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Oi' TUE OF P'ATE'(SVff,--J'1C',' 11"RIKA.NISAS
MUM; BO IDS -011;' P),()V(,STU,`!S OF AG.i! \ffl.
OF T[Il, EXTRAORDINARY Or '-Hl
G 1-1 IR AL 1\1 S o E Nq R Ly 01 1H E S'I'ATT' 0 1� A R K,', M(3)V 1- ID
r
21, :J.Duo' P'S AnAwMED, 1'0; ` ,Ii, l'u!"w"o's-, OF
T F-1-MAINCIATO OP n[V COST OF SECURING
;VMF) DEVELOPING INDUSTRY (TUE
-tS DESCRIBED IN ME ORDR,-JAT\fCE,);
OTHER RIUMING THERETO; A1\4D AN
arcan) amms ljaye been 110�1l-10 with. 1-:11101'son Elocb:j(.Co.
I-SqOuri corporation ("Emarson") for tho nxPansh)n Of We industrial
plant opwated by the
,od Division of Emc-rson at the City of
BatesnSle, Arkansas ("City") xhich IvUl ,`tjtt in 1 -ho ad(lling of addii:""onal
employment and additional Payrolls, all in the U0,sL ).nlu--'rcsL of L,,,.e City (uld
its citizr;,-is and inhabitants and in furtherance of the p"
, -Ibli.c purposes
embodiod in Act No, 9 of the First Extraordinary Session of th.c' Sixty -
Second Co -neral Assembly of -alio State of Arkansas, ap,,(-,,r.o�,,ed 21,
1960, as al-fiend0d (1'/V--1: -No. 9"); and
WHEREAS in 0'Cd-,-r to obtain funds for Wancing the looposed
expansion, vvhich wi.11 (,(-
,us1st OE lands, buildings, j'-f1Pr0-v0n1c,.rts, machi.nerY,
cquQnent and facilities ("Project"), pay and
in con-ticcLior, 1,11 alld pay Lho 07;penscs Of the finailCin(j, Cho- City
proposes to issue I1 d" , evolopmont Revenue 11nrids under Act No. 9
C) 6
in an 11ot to o"'coeo a.nd
WHEREAS the Inrpose of fl -lis ordjnancis to llbP,llt the of
the issuanco of the bonds to the etwors of the City at a :-,,I)eci.�-,
(>111c"d for the purpose;
09DVV, THQUORE, nE T'j' ()p
Col.ln;-:J-1 of the
(arty
P,)lp 2
a spacial (;1 a .�i oti
'L�OI1 TKA�
crlll(d to i)O h(:ld Al rile (terry Or) rile l;iy of 196£3,
at which Anclion More xvi ll he SArIa UCI Lo To Moors s o tiro My tho
question of .l sukg WWWal DOVWopt ic.K Rovan.l_e I�ondi , u (lor n.ct 1\1o. 9
in �jn J.mount not to exceed (01' Llle purpose of Fulil Sil7.ricJ "ormailelit
finallchlg of the cos%s of securing quid do—velopir"(j illdusi:ry (the p�rlic(�lar
industrial undeii:ahi.Ilg is ('1esc'Cilood The l.)onds vi ill )o dated, will
bear ititercst at the rate Cr' ._rates, ii:h Lilo iritor�st payablo oil such dates,
l T 5 1 11_ 1 I l l- l . 1
tllc bonds v�r111 1T1dtUr(_ OI7 S1�.C11 C,uLc_ Of c,c.�f S, tile, boric,,, tivill oe Su%JeCt 1:O
redem,,Aion prior to maturity in such Iildnner and upon ;Much t(, -C ris, and the bonds
Will. be issued al: one time, or .til series trolll Lb-io i:o Ltme, all as the City
Council shall subscquentl.y and spcci.iy in the ouliil(lrlce authoci-zing
the issuance of th.o bonds.
5 c(.lo:n i'ha� tn.e question slialt be priced on the- ballot for !:ho
special election in substant�i.al.ly the following form:
AM mv,
Piq () 3
Voi�U On 311L,� 11)y ;:ill ''X" i -n La('3 :'Cj0()r0
abOW3 Me ine'rule [of or 'L'Jaiilst:
For the issw=w of indus41nt Mvelumnant Mvemro
"'-)Icls by alto Giy (-A Wonwas W Lhe
aYY!U9dW P0101M UMOL111L ()I' 1"Ut 0 E=Xct= Cl
...........
N1f1)."SL ftlo issuann; ef
Boi)(1S '()y the, City cif 13,,,Losv1l.le, Arkansas in the
agyrogak) puhlclpill of not to c.xc(--,ed
------------
77
It is iWoposed to issue City o[ - ("City")
IndWriat DOVOlOpMMIL ROVCM.Le Bonds ("bonds") under Act No. 9
of the First Extraordinacy Session of the May -Second Gemn-al
Assembly of the State of Arkansas, approved Jilrluary 71, L960'
as anuinded ("Act No. 9") , ha the aggrogate principal Ennount of
'Vow not to exceed for the pt'irnos)c of furnishing Lhe ocrillanout
financi.-,ag of and devcQAng industry. The
bonds will he daked, v/ill ',coir J.11LUI e.sL at rate or rates, J c1li-crest
will ISDO payahje Oil such OaLcs, the b0n(IS Will 1-11ZALUI-O On SI-IG11 �ate- or
dates, the bonds will Q wAnect to r^('.eiiiption prior to 111,11-1101y ill
stl(';h manner and Upon s,,.i.ch terms, and Lim bonds will be issued
at one Unia or in series fro.in Liir?e to all as the City Council
shall subsequently dcmradme and specify in the ordinance at'..thoriz-
ing their issuance. Tho laoposed indtud:rial pt-ojocl: to 11DO U."nainced
by the bonds will- consist of cm expansion of Ljhe indlt`Affi.O.t plant
operated by the Vv"ni-Lo Rodgers Division of l rnerson Electric: Co. , a
MissoiHi corporation ("Emerson"), embodying lands, buildings,
iniprovcrf,.-on-ts, inachinery, eqidpnient and fay i]Rins ("Project") and
the proceeds of the bonds %",/ill be used for Wancing Project costs,
expenses and expondRua)s in connccLioll and the expenses
of the financing. 'I'llin Project will be leased to Emerson for
as e
rentals sufficient to provide for the palmiant of the principal of
and interest oil the bonds as the saina become due. The bonds
will not be general obligations of the City but will he special
obligations payable solely fMill COVOMIes clu'I'l-Ved Frorri the Pl-ojec't'
-1 , -'as(� a.ud A( -(,
Ancluding PaRiCUlMly lease rentals u.nder �ho I,,,, _jl '01"Ient
m9th Enmrson, whhoh Mil be specifically pledged to the payment
of the principal of and interest on the ho,, -Ids, and elle bonds %vi.11
be scoured by a licil on ai,,d security inLnresL In the Project as
:,uLhorized by Act No. 9.
Page: z"
Section 3. That the election shall be held (wd conducted and
the vote canvassed and the rcsulls Aclarcd wndc'r 1av" and_ in the 1110111-1Cr
provided for municipal elections. so far as the same may he applicable, and
the Mayor shall give notice Of SUCHI election by an advertisement published
once a wcu.k for four consecutive weeks in a newspaper having a bona fide
circtilation in the CHI y of Mesvilhn, Arl�an� ',s , with the last publ-iccAjon
to be nol less than ten 00) days prior to the date A the election, and only
qualified NecLoys of the City shall have the rQlht to vote at the election on
*AW the question.
Section 4. That the results of the Nection shad -1 be proclaimod
by the Maym and his IWOCAUmation shall lie published one time in a ncwslpa.per
having a bona fide circulation in the City, Adch piocIamation shall advj-;:,'e
that the results as proclaimed shall Ito conclusive unless Wacked in the
courts vAthin thirty (30) days after the date of such Proc'lz'lmc)[Jorl.
Section -5. That a copy of this ordinanco shall be furnished the
Independence County Board Of E]ecnoyl (junupissioners SO that thya YKICUnsEyy
elation officials and supplics may be provided.
Section. 6 That there is homby found a..,rd Ccclarccl to he an
i1un2diato need for the sectwing and developing of industry vAthin and near
the City in orcirr to provide employment, provide in";'reascA pclyfol.Is , alle\date
unemployment and lwovido Other puhlic be incidental to the sccurki.g
and developing of industry. In fuWaronce of 1 -Mose Imblic purposas, it is
horchy fourul and, 6ee111010d that thn devolopk"C�j of tlic�' indusLrJul
Project described in this ordinance can he feOPU)"'y
'*#AW VAMW
mmzn
Pogo 5
accomIA.ishccl Only by the j�;Su l-l')Jcc of the above dc'so ihccl bonds . It is
thorefa.-o' , ciccllcll-ccl OIT31 a), c-11-lolgency oxisLs allo, 11)""; ord-n�incc: being
nccossa�.y for the inin'Ic"d.icitc, pl-c�.sc).Voticm of the public hoalth, SciAloty
and wollare, shall. be in fu) -cc and effect upon and after
its passage.
PASSED: 19GS.
OEM
JYYTEST:
7 cloll�
(SlEAL)
,%"W
APPROVED:
Mayor
C1 R'i'IF 1CA`.Ch
Th.o 1-131dersign��0, Cii:y Clerk of BaiLesv:ill;�, Arkansas, he,-eby
certify that the forego n(J pages rl.umlx!l-ed 1 to S, in.clusivc, arc a
true and comp�-lrcd col-), of an Ordinance, p_ -,s sc,d at cl
r
ses�J_an of the C,:i:fy Cou:r)ci.7_ of Bate;�,t�:illc, Arkansas, hc]d at the regu.ar
meeting place of thc: Council i -n the City at ---o'clock -- . m . , on
the day Oi 1958, arld that tll(' OrclinQlilcc is of
record in Ordi.nanc:e hccoad. Book _ Page � nov�, ir_1 my
possession.
(SEAL)
on
G1VElIq under lily Il �rld aml sea) this __,____.day of March, 1968.
---- - -------------
City
_._. .City Clcrk
CM
EXCERPTS FROM MINUTES OF A MEETING OF THE
EkATESVILLts I ARK"ISAS CITY COUNCIL HELD
V -4i a rch , 19 66
The City Council of the City of
i I
Arkansas met in ) qsion at its regular meeting place in
_��Q
rrtaviile
Arkan.cas at O'clock m., on the
day of March 19_1. The following were present:
Mayor 0ity Lierk
and Aldermen
Absent:
7,
The Mayor stated that consideration should be given to an
iI
ordinance callinc a '!,:.�ction to vote on issuing Act 1*'o. 9 Son -A's In
c::)nnqctlon -Ath the Em*rs��r 11*iectric (-"0. 11,)JOct.
This was a matter with which the Council was familiar and after a discussion,
Alderman introduced an ordinance entitled:
"AN ORDINANU- (�ALLING A SPECIAL 1-,L-"(--1WN TO VOTE
UPON ThE -UC6TIOTOF Th -E CITY OF BATWLSVIII , ARKANMS
ISSUING BW,4''..; LIN ' -,Ek THE PROVISIONS OF ACT NO. 9
OF THE FIRST L'�VV�ORDLNARY SESSION OF 71-1f. SILTY -SES ON
GENERAL ASS-WMIELY OF TUE STATTE OF ARKANSAS, APPROVEL"
JANVARY 21, 19 60 , AZ; AME N DYED , FOR T11 P, U -, P E OF
V
PROWDING PLQRMANEIJ�T FINANCING OF TIC' DOST OF SECURING -
AND' DEVFLOPI�t(.; IN USTRY PAR1ICV1Ak INDWI�,TRIAL
PW)FLCT IS DESCRIBED IN ME URDINANC,'); PRESCRIBING
UTHER MATTER. .tLCLATING THERETO; ANi-1 -,11.'(-,IARMG AN
F M!"IRGENCY. "
and the City Clark read the ordinance in full.
Page 2
Alderman seconded by Alderman
moved that the rule requiring the reading
of an ordinance or :eso.lution 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: _ iI`�,r
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 tre rule suspended. The ordinance was then read by
the City _Jerk
I
f �
Alderman #' �;ry %•':: -; seconded by Alderman
'`-'then moved that the rule requiring the reading of an ordi-
nance 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: %) 4 j L c.__,
Page 3
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 City
Alderman %f� �' 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: j 1 c
Alderman- <�t' �. L �� l �_, seconded by Alderman
-t c , �z t r ,moved that Section 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
-.irlC and impressed with the seal of the City. The ordinance
was given No. ;7
(Matters not relating to calling a sp*�ci4.al laction to vote on th e
issurc . o. ;Ct No. 9 B�jrr:'Is
ATTEST:
are omitted.)
There being no further business, the Council adjourned.
City ',A- rk
(SEAL)
Mayor
v .
µ
C E R T I F I C A T E
The undersigned, City '' 2`Y'}' of
& tesvlll�l 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
sateevill: Arkansas at ssion
held at the regular meeting place of the Council in said City at
r'
% o'clock �,.m. , on the AS day of
19 68.
City
(SEAL)