HomeMy WebLinkAbout642ORDINANCE NO.
AN ORDINANCE CALLING A tPECIAL ELECTION IN
THE CITY OF BATESVILLE, ARKANSAS, ON THE
QUESTION OF =E ISSUANCE OF SEWER REVENUE
BONDS, AND DECLARING AN EI,1ERGENCY.
WHEREAS, the City of Batesville, Arkansas, needs to make
extensive improvements and extensions to the sewer systerti now serving
the City, and for that purpose has had Marion L. Crist and Associates,
Consulting; Engineers, of Little Rock, Arkansas, prepare plans and
specifica`cions for the proposed improvements ana extensions, which
they have done and have filed with ti -ie City Clerk, showing an estimated
cost of ;420,000, which file City can secure by the issuance and sale
of sewer revenue bonds payable solely rom the net revenues derived
from ti -le operation of the sewer system; and
WHEREAS, the City Council feels that this is an issue of such
importance that it should be submitted to the electors of the City
for ��heir approval; now, therefore,
BE IT ORDAI.�D by Elle City Coun,_:il of the City of Batesville,
Arkansa s :
SECTION 1. That a special elec'cion is hereby called to be
I in tine City of Batesville, Arkansas, on tyle 17th day of
November , 1953, for the purpose of submitcin-1 to the electors
of -she City the question of tide issuance of` Y-420,000 in sewer revenue
bonds to be dated as of January 1, 1954, and to mature serially on
January 1 of eaciz year as fellows:
7,000
1n
1J:)5
o, 000
in
1950'
and
9, 000
in
196',
199 a -,d 1(60
10,000
in
1961
and
1902
11,000
in
1;63,
1964 and lqu> )
12,000
in
1;166
and
116'7
13,000
in
1900
and
!969
14, 000
in
197v
and
1 1
15,000
in
1912
and
197J
10,000
in
1' I"(4
acid
1y`(9
ly, 000
in
19'(6
and
1
1 , 000
in
19r v
1, 000
in
19`1'9
20,000
in
luoO
and
1908)
21,000
in
19x2
22,000
in
193
23, Ov0
in
1yo4
SECTION 2. Tisa G the bonds ii approvea small be sold upon
<_
auction rids witiil tale request vlia tine bidder submi � clze in -er: st
VNO,.
rate upon which its bid is based, and the bonds will be sold a �
pudic sale to le bidder whose bid snows the si alles u interest cost
to trhe
S'EC`I.'IOI 3. TYiat "[le succes.3fu_L ,Jidder Shall. 11a u -e tTle rij i"_t
vU T1amP, file i;ru i wee and place U pa-ment -f t1e bonds and Lo con
1lle boni!s to a lol']er T'a Ge O1' ra ,es of inueres'G, upon v ie c:;nd'L1.o:h ha
N''c i1 conYvers:i.on hall be ill sUu:itiantial accord i]1�11 the Universal Bond
Values `fades and L lat i;the Ciuy small not receive any less or pay uny
r.,ore --nan i"c would recel.-e anu pay yl ihhe oonds were no �: cvn�.°er�ea.
.3lm 4 . Tisa t u'tle Piayor S �.a ll pa iJl : u;
health and safeby, shall beco.ne effective immediately upon its
passage .
Passed: 1953.
Attest:
wg��
' • City Clerk
APPROVED:
CERTIFI C A
I,ayor
I, she undersi ned, Cit;; Cler., of the Citi of Batesville,
ArrLansx,hereby certify the fore-oin to be a true copy of an ordi-
nance adopted b'j the CiU-y Council at a duly called and constituted
meeting; at which more than " wo-thirds of the members -elect of the
Council were present and voted for said ordinance, which now appears
in Rook , page �, of the records of said City.
CERTIFIED under my hand and the seal of said City, this
day of 1953.
(,Sea 1)