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of the parties thereunder. A copy of said Lease and a copy of the
said Assignment will be recorded in the office of the Circuit Clerk
and Ex Officio Recorder of Independence County, Arkansas. The Mayor
and Clerk be, and they are hereby, authorized and directed for and
on behalf of the City to do any and all things necessary to enforce
all rights of the City and to discharge all obligations of the City
under and pursuant to the said Lease, and the Mayor and Clerk be,
and they are hereby, further authorized and directed for and on
behalf of the City to execute all papers, documents, certificates
and other instruments that may be appropriate or necessary for the
carrying out of the authority conferred by this ordinance or to
evidence said authority and its exercise.
Section 6. That the Mayor and Clerk be, and they are
hereby, authorized and directed for and on behalf of the City to
accept an assignment by Independence County, Arkansas Industrial
Development Corporation of its rights, title and interest and obli-
gations under and in that certain Agreement dated the � day of
January, 1961, wherein Independence County, Arkansas Industrial
Development Corporation is party of the first part and White -Rodgers
Company is party of the second part, and executed and acknowledged
copies of which are of record in the office of the Clerk and to
which reference is hereby made for a detailed statement of the
terms and conditions of the said Agreement and the covenants and
obligations of the parties thereunder. That the Mayor and Clerk
be, and they are hereby, authorized and directed for and on behalf
of the City to do any and all things necessary to enforce all rights
of the City and to discharge all obligations of the City under and
pursuant to said Agreement, and the Mayor and Clerk be, and they
are hereby, further authorized and directed for and on behalf of
lands, buildings and manufacturing facilities and to construct or
complete the construction thereon of buildings and manufacturing
facilities, and to purchase and install therein equipment and
machinery, which, after completion, will be utilized in securing
and developing substantial industry in or near the City which
will employ substantial numbers of persons from the City and In-
dependence County, with a resulting alleviation of unemployment,
increased employment, substantial payrolls and other public benefits
flowing from the conducting of substantial manufacturing operations;
and
WHEREAS the said lands, buildings, manufacturing facilities
and equipment and machinery so acquired, constructed and installed
(all of which will be hereinafter sometimes referred to as the
"Project") have been leased to White -Rodgers Company, a Delaware
corporation (which will be hereinafter sometimes referred to as
"White -Rodgers"), and will be operated by White -Rodgers or a sub-
sidiary thereof; and
WHEREAS in order to locate the said industry, Independence
County, Arkansas Industrial Development Corporation, an Arkansas
corporation organized and existing under and by virtue of Act No.
404 of the Acts of Arkansas of 1955, as amended, has entered into
-th
an Agreement and a Lease with White -Rodgers dated as of the I
day of January, 1961, and has undertaken the construction and
equipping of a manufacturing buildings and facilities pursuant to
the terms of said Agreement between it and White -Rodgers; and
WHEREAS it is proposed that the City furnish the permanent
financing for the Project by the issuance of Industrial Development
Revenue Bonds under Act No. 9, it being contemplated that the City
will acquire the lands and the improvements constructed thereon and
w VW
I
equipment installed therein as of the date of the issuance and de-
livery of the City's bonds, and that the City, by assignment from
Independence County, Arkansas Industrial Development Corporation,
will assume the latter's rights and obligations under all out-
standing architectural, engineering and construction contracts and
under the Agreement and the Lease wherein Independence County,
Arkansas Industrial Development Corporation is Lessor and White -
Rodgers is Lessee, dated theme day of January, 1961, for a
consideration, in addition to assuming Independence County, Arkansas
Industrial Development Corporation's obligations as aforesaid,
sufficient to reimburse Independence County, .Arkansas Industrial
Development Corporation for all expenditures theretofore made by
it on and in connection with the Project and/or assuming obligations,
including the principal and interest of any interim financing, incurred
by Independence County, Arkansas Industrial Development Corporation
on and in connection with the Project; and
WHEREAS pursuant to its undertaking to furnish the per-
manent financing, the City submitted to its electors the question
of issuing Industrial Development Revenue Bonds under the pro-
visions of Act No. 9 in an amount not to exceed $1,750,000 for the
purpose of furnishing said permanent financing for the Project,
paying all necessary expenses incidental thereto, debt service dur-
ing construction and the expenses of issuing the bonds; and
WHEREAS the electors of the City approved the issuance
of said bonds for said purposes at the special election held on the
29th day of November, 1960; and
WHEREAS the Lease wherein Independence County, Arkansas
Industrial Development Corporation is Lessor and White -Rodgers is
v` Lessee, dated the day of January, 1961, has been or will be
t
duly recorded in the office of the Circuit Clerk and Ex Officio
Recorder of Independence County, Arkansas, and an executed copy of
which is on file in the office of the City Clerk, and will be herein
sometimes referred to as the "White -Rodgers Lease Agreement" and
reference may be made by any interested person to the White -Rodgers
Lease Agreement for the rental, terms, conditions and obligations
of the respective parties therein set forth; and
WHEREAS it has been determined that the estimated amount
necessary to finance the cost of the Project, necessary expenses
incidental thereto, to the payment of debt service and to the pay-
ment of the cost of the issuance of the bonds is $1,500,000 rather
than $1,750,000 (which was the total amount authorized at the
election), and that, therefore, bonds in the principal amount of
$1,500,000 should be issued; and
WHEREAS the City has contracted with T. J. Raney & Sons
of Little Rock, Arkansas for the sale of Industrial Development
Revenue Bonds in the principal amount of $1,500,000 to be dated
February 1, 1961, with interest thereon payable semi-annually on
February 1 and August 1 of each year commencing August 1, 1961, with
the bonds to bear interest at the rate of 5 3/8% per annum and with
the bonds to mature annually on February 1 in each of the years
1962 to 1981, inclusive, all as hereinafter set forth in detail;
NOW, THEREFORE, BE IT ORDAINED by the City Council of
the City of Batesville, Arkansas:
Section 1. That there be, and there is hereby, authorized
and directed the following:
A. The acquisition of the fee simple title to the lands
described in the Trust Indenture hereinafter authorized, including
all improvements thereon and under construction from the owner of
G-
the property, Independence County, Arkansas Industrial Development
Corporation;
B. The acceptance of an assignment from Independence
County, Arkansas Industrial Development Corporation of all con-
struction, architectural and engineering contracts pertaining to
the design and constructing of manufacturing improvements and
facilities and the assumption by the City of the obligations of
the owner under said contracts, with the City to receive the benefit
of all credits and moneys theretofore paid by Independence County,
Arkansas Industrial Development Corporation under and pursuant
to said contracts;
C. The payment to Independence County, Arkansas In-
dustrial Development Corporation of the amount necessary to reimburse
it for moneys expended by it up to that time in the acquisition of
the lands acquired by the City under the authorization in sub-
paragraph "A" hereof and under the construction, architectural and
engineering contracts assigned to the City and referred to in
sub -paragraph "B" hereof; and
D. After said assignment of said contracts referred to
in sub -paragraph "B'' hereof, the construction of the Project in
accordance with said contracts and in accordance with the Agreement
between Independence County, Arkansas Industrial Development Cor -
7
poration and White -Rodgers dated January _�_% , 1961, covering
the construction of the Project (as will be hereinafter set forth,
the said Independence County, Arkansas Industrial Development Cor-
poration has assigned or will assign its interest therein to the
city).
Section 2. That to provide for the authorization of
and to secure bonds of the City in the aggregate principal amount of
$1,500,000, herein called the "bonds", under Act No. 9 to finance the
Project and necessary expenses incidental thereto, to the issuance
of the bonds and to providing of sufficient funds for debt service
until rents are available, and to prescribe the terms and conditions
upon which the bonds are to be secured, executed, authenticated,
accepted and held, the Mayor is hereby authorized and directed to
execute and acknowledge a Trust Indenture, and the Clerk is
hereby authorized and directed to execute the Trust Indenture and
to affix the seal of the City of Batesville thereto and to attest
the same, and the Mayor and Clerk are hereby authorized and directed
to cause said Trust Indenture to be accepted, executed and ack-
nowledged by the Trustee, The First National Bank in Little Rock,
Little Rock, Arkansas, with the Trust Indenture, which constitutes
and is hereby made a part of this authorizing ordinance, to be in
substantially the following form, to -wit:
�t 11111
;, - «,
1961 by SW b*UOM t Cwt Or da T&MLU o ARXAWASv & city of the
first class duly axistift vadetv the Lwo of the $tat* of Arkals"
(hav*inaftor saustivissrofsrraed to arts the "City") as party of the
first: PAM and TU FZUT ShnOVA-L BAMIX = I III K UTTLE ROCK
AIXAXW,g a nat.iaaal banking Institution or, .aror«d yup wor and adst-
ing by virtue of tbo laws of the UuLtod $tat" of Ammica, with its
principal offla o,, 4o"cilo and I t officer address In tAttl* mks
Arkau*" (beretimattor sawtim" rot r d to ars t $111rrwu rff) as
panty of tae sworrld parts
WITNfd ITtls
WISWCAS the City is autheriaW by Act: No. p of tbae first
fxOVddii0sry SkmSIMS of the SLuty-oS car nd Central Assembly of the
dtati a of Aarbausaa g appro January 210 1960 (ber einattor saaeti mes
roflrrod to as Fact No. 9") to ftgl tiro l ads and to a cquLro v con-
strwt and aq%dp Wilds aad mesufactwdng faeiliti*0 ,fir th* "a -
duct of rrerrrrrwfactu r "ovations and to lar"* tbo same for t lr pur-
posee of s , tft and dee rI"Ift 106wtxy aim or at" the city;
the City is eat am rrd by Act No. 9 to i.ssuo Io-
4uStrcia1 90"lOpere of Kowa SONU parob%r from leaso rentals and
serod by a sur tgae an the ISO" • buLldifts and aeraewwrfaart urire,
fa►ci.tiaes so 140Oadl sad
d t City h" tars rmsrssary arra
the aura
lands, buiLlalifts a" ameafa+at urea facjUtios and to co"trMt or
caws Ut+e tbo co"tMetion tbara of buildinp and woufacturing
farrcflitios, OW to purcbmw and im►tarrll, dwrr+reia *quApwmt and
asch1mryoo which, aftaar coapUtion, will bei utilized in #*owl rr
and developing & substantial IvAntry in or war the city which
will emmplay substantial mumbers of persons from the City and In -
4! W 1 m 1
UMO Countys with as remating alleviation of unewpu7ments
increased OVIGYMOts substantUl payrolls and other pu]blic basefits
flowing from the conducting of substantial m&8uf&cturjQ& Opwrotio"s,
and
WS&RUS the said lands s buildlegas ammUctuxing factlities
and equipment and " acquired, O"Structod and Installed
(all of which will be bor*imft*r ometims referred to as the
I$ "*ct"F) hmm been loosed to WMto-VAdgere Cowipany. * Dolswar*
torporatiou (which will be beroloaf ter sometime referred to "
and will be operated by Whitie-Roftors or a sub-
Sid"VY dumvof; A"
WUOYAS In oxdev to locate the said Juduatrys Independence
qty, ArkomSas bodustrial Developmeattorporationv an Arkmass
corporation .► mad existing umk:r and by virtme of Act no.
404 of the Act* of Atkans" of 1953j, as aneaded, bas catered into
an Agreement and a L4*"* With WhitoWVAdPTS dated " of the
day of Jammorys, 1961# and bas unOkwtakm the emstmetion &W
*quipping of A:mMWIAaturAft buLUUAS and facilities pursuant to the
torims of said t betofft it =4 Whito--Roftors ; and
WREMS it is Proposed tbat, the City famL*b the permanent
finuming for the "*ct by the issuance of l bovelap
I*v*W4* ko" under Act *a. 90 it being contamplated that the City
will acquire the leads end the JvVowmmtasE congtrMted there and
ea i, -V I I St installed thm"Is " of the 4&t* of the Lestamo and do -
livery of the City #S boads$ and that the Cityx by assignment from
todop"denco ComtY* "kansas metrial Development Corporation,
will assumme the letter'$ rights &CA obligations VMUV all outstanding
om—httact sl, aftineoring and + onstr+ra+ tion contracts and under tho
Agroemat and the Loame wboxmin ladopeademe qty,, Arkansas, In-
"trIAI ' ,I t r rr#rtiOR is Lift"Or ar" Wh tO V* is
Lesmw, dated the....,...,I day of Jawmaxyt 196I, for 6 emsidorations
in Mian to sosmaim& UWepondeme ', Arkansas Industrial
b"molopment rpowartion' s affart , as ficient to
reimburse I m , Ares b2dustrial t Cor—
poration for all mpenditwos thexotefewo made by it an and in con-
metiM with tba roj t a► WIOV sasmalft obligationst I Iu i , tk*
prine4pal and interest of *AV inter * ,# Lacurrod by lo -
die + W , Arbamsms Iaa4U4t IAl. PVMIOPMMt , rapt .*U 00
and In connection with the " ti and
WNWASI pavamt, to Its undertaki }.to d. b
porwAo `..za r 4:5.. ?, the,rN4, g .. to
alocumeA qu*stleft
Of .:IrAA8trIAI0 .. ¢ V*~DOWUUMd0rthis e
Of OW PO4-191-100006- fimming for the Protetq pWift all
and the expenses of ISSULUS the bon"; and
S „_, M the , ri., S ofthe City approved
said xrk'y..ds Q: purposes the
?r_ y of
1960;
C S .ti A'.
Industrial bmmlopmet Corporation is L*sww and t*- rs i
L***",, dated t .�.e... day of JAmmoryo I l t has been or will be
duly rearmed In the office of the Circuit Clerk and ft Officio
Or4or of Isaaio ppodowe Comtdr, Arkansas, and an exomted copy of
whi" to an file i& tw office of for City iC1*vk, sad will Wreia
rametimao refer to as this 'mit*- err Lomm Agreement" and
Dear" t frac tete x"ttel, 00 10s tib And oblimatiam of
tbo respective parties t bovels suet forthl arteted
W W It berr<s 44t4rarr; XWd that the estimated awmat
'"COOSAWY to fdrteatema* the *ost of the ftojocto rr moom rr y aexpen$40
imid*atal thev*tals tate tbo mot of dot Service arrtted to the pay,.
aeemt of tbs cost Of the LOSMA" a of the t+ortrdatr IS $1#50#OW ram ter
tbas 41#750*WO (which was the e t rta l ammt arrgdwria d at the
s t ), atretd tbeet, dwtroforos, bomw in the primipal ateemat: of
411,5W1,000 owuid b* tasted; and
WMAW the City bats tt+oet Ct*d with T* J. Remy a son
of Little maks Arkamoss for the aturela of Ianrr Wta rl Do"U t
&*VOW* SOWS is the PrlmiPal SmOmt Of UsMsO00 to be lotted
February i, l"10 With Istarrr"t tbar4on pty ablo so"-smoally an
p tV►ry 1 atrawed AVVWt 1 Of 000k YOU +eommemift drat I, 19611,
with the bOuds to bac irtrtG V#*t At the rat* of 3 3/,S% per Am= ga
with the b=44 to rraat uro SaWally acerae February ry I ift each of the years
1962 to 1941s, IMUWAves 411 mut hereinafter set forth In detail; ae W
.y , .
M 'k.. i' iA'o x,y i, ' t, AP:;
(baer+edasttftear Sometimes rofarrr od to sale tbo "Imst Int r+e" or the
"'Indenture") &W the Issumeo of attrat►Id to testri&l wel t
sv emue SoWs mWor Act go, 9 have e boom in all arospatee is duly accred
vac lid r atwrtb ri xod by orate rrea Of tb * otttr i l of trice City$ $ ta-
41"d "TttLe"larditr +e for 1p► pass" anted aep-
paged an t ,.. 4110 of ip-a 1961; A"
r.41w m M A
arc" the Trustee's a e+ ertif#oatetae to be sed thereon are all to
in oubstantially the followift fom,, with rreetarratra y &aped appatrtWj^t *
variatiow I "i"w OW a r i►t ut " pendtted or ropes by
tom# TruSt ln&ttt o,, t ►" wLt;t
Y
i �p�y�rwn�uw+�ew�+�xr r�a�
That the CItY Of 214ft6villoo ArkIlsw",, & afty of the
ffXOt *14" U640C of dW State of Arkansas, fsraft*s
call" t ""Citet for vobw rowiv0do promises to pay to beavors
at if this bond be r fat*v*4, to the r*gistared evmw boxy af, on
robroaxy Is the primi4ml am of
lu sowb Cana c 4W""Y as At t1e Of P&YUMt is Ill tender
fro t Of debts *A* tura t*d Stat** Of Ua* and to �
in like *"a or ewmvwy Laterest "L4 PrImipal t frm the
date b*r f until POU at tie rate of five aid tbr**-aj&btbs per coat
(,5 3/6%) per &=mmt meb late st to be pq*bl* 6"d 14
ftbrowlxy 1 04 AmWASt 1 of *fit yaw, timet t It 1961,
*ta d #Wx"* of d so *fir se"rally
become d e « IU FrAMIP&I of dds boad stied the fubm est hemom ar*
►able at the oftios of the r rot gatUftsl agak in Uttlo k,
7G,tttle k, Arkansas #sad the -: f; A#mt,,).
Ibis bond If am of a *e of fifteen rod )
b"", &S~t On* M11UOU, ftV* *XAred IbOWG4W 00114
( X14 • ) o, knom as #pCILtY Of bat Ilio t Arkawa « Indwtrial
bovelopowat goveme " da FabrouT ll 1961s n-
s*Mt vre from 1 to , iscUsisivo, all of 1 and effect
YManiftetiorJUS
u o oomstniettog mosmosmawift Uro o 00to "A fteilitlas
on said Under pwca IUD& t "d nubjeary
i � I thoreto1v P471" the
sterost mat oftstowtiou acrd Pogift the cost of the toomaw* of
the
t14 . all MM aiWWW (bMift called thesa d
ti at a WV"t �r ( it "I ") s dated
04 of robnory I, IV61, duly sud douvor4w by tbo City to
Tbw ylr*t10041 Utt1* ROckv Little Mmko i o eta#,
i, l t t JA In off%* of t Mit Clark
>.
is hereby mod* to dw Indoutur* "A to *11 indowtures Mopplommut&I
tbs"too, for the pvvw&sjow#
1 ` e r@ respect to l
extantSEA
4.. Y the OW h i ,! e
of
X J ,A.
the boow we Isswod and
oocwrod-
'Us
OW the sovi" of ate& it faun a Part am*
Pu"uftt tai► a "ftll COMP110040 with the COOStitutieft avd
Uwf Of tai of m"o, varticulavly Aet no* ! of the rivot
t dAwry Session 09 the SIxtymsecood oftoral Assembly of the
State of Arksmosso sWeved jams" -y 211 1060 (h*ate aa< '''Act
no. v.) and pwavent to . of the Chi I odopted
'piedanthe ,I day * ton * Which
i autbo °lam t tion a" delivery of ..
r"s bow and the series of whuh it forms & part arae not gowrol
obligatlow of the City, but aunt special Lt4Wti`aw MW*bla saioiy
+f► s pa Said 10"o tall* derived from the ftoject. IA tkis
rook", the sat has been leased to WhIt4rogodgers complayl, 6 Dols•
v*ro eorporation, for ae r+ntal at least sufficient to pay the prig-
eipal of, int+erost on, t'#idMalp amt --I if any and NWU4
wt's fes iee 000mactiou with tdo bonds, as the "as become due
and payable. Rental meets sufficient for said pwpaosps assns to be
Paid to tb* Trustee ited in a spaeci I account Of tie City
designated `$1961 trial Devolopment R*vmna bond Fund - t ito-
rs ",mat"* 2w zVotaal air and revenues derived frm
the "set have been duly p1ae ;+ed by the Indenture for the payment
Of the priaeeIP61 of, interest on, redemption pr*miww, if ate, and
y Agent's fees In cornection with the bonds. In motions, the
r: a
constitute on Indebtedness of the City wahine ow 'Go"titut ona1
or statutory UnitaRti .
Tb* holAer of this bond shall have say right to enforce
the covomants tbero 1At, or to take aw action vi.tb respect to a"
event of da It► wader tb* tom'#, Or tar .iastitatOv appy In and
defeed alts "it or other Proceeding with respect tberetal, except
prrow In do Indenture. in certain its, as the coodi:tioas,
in the AWWWWr aeCrd vitt the offoet suet forth In the ltitre, the
Principal of all Of the boade Issued Under the iR ti "ae god tb en
outsta +dam, MW dome or may be declared due and payaeble before
the stated rreatwity thereof, t ther with acor'md Interest thereon.
MOdif "t s ar AltarratIAM of the -at=* 0 or of any
tUr* sre►ppl ttl th*"te, ady be made only to thea extent 404
is tho ei manes permitted by the Indentavo*
The boads shall be noncallable prim to February 1, 1976
except (1) from pvoc**" received fron cowlemation (ee set forth
La the Wbit"Ro ft rs to&$* Agrreeenmramtt d eseeribeed In the two
(f) frees the its rye V0i part to tbre ercaarcia* by Less**
render the White-Serd,gers Iseso Agreement of its options to pu tba"
(set forth. in SOCUM 2302 of the White-► er ess Lease AgVea ant) and
(3) from, excess bond pra a sids not required for the oompletiou of the
pro *Ct (aue sot forth to Seaatieea 306 of the ift-Rodgers lasse
sg a t), and if funds frorem said sawraw am received dwift said
period tbee boads sball be e albedo in glee or la part to the extent
of the funds so recolv0d, on OW interest patyias date in f ersee
numarl"I order at the principal &nou Lt of the boads beeireg "lied
plus accrued Interest to the ree reptien date and plus a pry, of
b 1/ of the WIMLP41 SMICURto OR and afteer !'ebrararY Is 19766 the
bonds shall be oallable for int prior to maturity from funds
frow any sora** (Including reitbosut limitation the sources described
atbor+e from vkUh art caall soy be ss" prior to February 10 19760 it
being, story to call boads to the extent of fids voceeiverd from
said sources) , in %dw I* or in part, in bw erse vowwrical ov der on
any interest pa Ing date at the prrLac4at amount of the bomb being
oral 1, ed plus a cer"d interest to the rr —tion date and pleas tie
preee lum, of such princ;lpal amount as foll was if redeemed febr+sM
Is 1976 or Moot t, 1976; +' if re owz— -I Feebruary 1, 1977 or
August t, 1977; "' if r*desmed February 1„ 1978 or August 18, 1976;
and so prewlmm if rodoem d thereafter*
fir►' 1000"
Notice of the call for redemption shall be published one
time in a newspaper published in the City of �Uttlt gs,
A",s and having a bona fide circula-
tion throughout the State of
.....�
with the publication to be at least fifteen (15) days prior to the
redemption date. Such notice shall specify the numbers and maturi-
ties of the bonds being called and the date on which they shall be
presented for payment. After the date specified in said call, the
bond or bonds so called will cease to bear interest, provided funds
for their payment are on deposit with the paying agent at that time,
and, except for the purpose of payment, shall no longer be protected
by the Indenture and shall not be deemed to be outstanding under the
provisions of the Indenture.
This bond may be registered as to principal alone and may
be discharged from such registration, in the manner, with the effect
and subject to the terms and conditions endorsed hereon and set forth
in the Indenture. Subject to the provisions for registration en-
dorsed hereon and contained in the Indenture, nothing contained in
this bond or in the Indenture shall affect or impair the negotiability
of the band. As declared in Act No. 9, this bond shall be deemed to
be a negotiable instrument under the laws of the State of Arkansas and
this bond is issued with the intent that the laws of the State of
Arkansas will govern its construction.
IT IS HEREBY CERTIFIED, RECITED AND DECLARED that all acts,
conditions and things required to exist, happen and be performed pre-
cedent to and in the issuance of this bond do exist, have happened
and have been performed in due time, form and manner as required by
law, that the indebtedness represented by this bond and the series
of which it forms a part, together with all obligations of the CJU,
does not exceed any constitutional or statutory limitation; and that
the above referred to revenues pledged to the payment of the princi-
rZ
En
pal of and interest on this bond and the series of which it forms a
part, as the same become due and payable, will be sufficient in
amount for that purpose.
V.iia bond shall not be valid'or become obligatory for any
purpose or be entitled to any security or benefit under the Indenture
until the Certificate of Authentication hereon shall have been signed
by the Trustee.
IN WITNESS WHEREOF, the CLL of 54t woy llt ,
Arkansas has caused this bond to be executed in its name by its
Mayor and city thereunto duly authorized, and
its corporate seal to be affixed and has caused the interest coupons
hereto attached to be executed by the facsimile signature of its
Mayor, all as of the istday of ribs _, 19 61 .
EY
Mayor
ATTEST
SEAL)
rM
rn
(Form of Trustee's Certificate)
TRUSTEE'S CERTIFICATE OF AUTHENTICATION
This bond is one of the bonds of the series designated
therein and issued under the provisions of the within mentioned In-
denture.
T FIRST RATIM" BANK
UT= A1C, LIT= Y=K# ARKA "
By
Authorized Signature
Little teak, Ark*rA"
, 19 61
(Form of Interest Coupon)
No. $
On the first day of Febmr'F , the Cinr of
#t
Bate"1116 , Arkansas (unless the bond to which this
coupon is attached shall have been previously called for redemption
or shall have become payable as provided in the Indenture referred to
in said bond and provision for payment thereof shall have been duly
made) will pay to bearer at Tb* l'irft lkti*Ml &U& in Littls Rack,
Lfttle Rock, Armes _, upon presentation and surrender hereof
the sum of
in such coin or currency as at the time of payment is legal tender
for the payment of debts due the United States of America, being six
(b) months' interest then due on its Industrial Development Revenue
Bond, dated Febiva 'y 19 1961, and numbered
CITY OF MATE$VILLR, ARTA"
By
Mayor
�i
O
PROVISIONS FOR REGISTRATION AND RECONVERSION
This bond may be registered as to principal alone on books
of the Ci&X Q#.� tt*Mdll& Arkansas, kept by the Trustee
under tl_i(:� wi Y. -n mentioned Indenture, as bond registrar, upon pre-
sentation hereof to the bond registrar, which shall make mention of
such registration in the registration blank below, and this bond may
thereafter be transferred only upon an assignment duly executed by the
registered owner or his attorney or legal representative in such form
as shall be satisfactory to the bond registrar, such transfer to be
made on such books and endorsed thereon by the bond registrar. Such
transfer may be to bearer and thereafter transferability by delivery
shall be restored, but this bond shall again be subject to successive
registrations and transfers as before. The principal of this bond,
if registered, unless registered to bearer, shall be payable only to
or upon the order of the registered owner or his legal representative.
Notwithstanding the registration of this bond as to principal, the
coupons shall remain payable to bearer and shall continue to be
transferable by delivery. Payment to the bearer of the coupons shall
fully discharge the -City in respect to the ante --est therein
mentione4 whether or not this bond be registered as to principal and
whether or not any such coupons be overdue.
Date of Registration Name of Registered Owner Signature of Bond
Registrar
Sudwaticat*4tb
A ft and .rq"., 061160timm Of th* City according
4 ' Roma M n.'k and : '"d ." do (:. 4.: 4 "f..., $
livory
of
s d the n: .2 E 1 y u "d ". n n.
b*" A, MfF,Y"
j7 �! 1 ' ±:' --
AWc*P * by the Tweet" of ! `My X04 aW of ' 1t
purchaft and of tU* b=ds by tbo
bet" 's + V*
tbor"f 0 am Of dw sm Of Om Daher ($1.00)0 Uwfol Savoy of tbo
i it*d ftatss of rlea* to it 4"y paid by the Towtoets at or
b+ the exemtum acrd 4otivogy of tbao presents, and for athor
god asd vLmabls aoosid*=tj*", ter r+ fpt of oak is Drsby
"kwmisdgpd,, and in r to sato the pgymmt of tb& pVisoLp&j
Of aad Lute"at on the b " act '+ to thoir r and affect
4" t --- and sac saa by tib ► City of all tbaa ""awts
*XPr**V*dOr Iniad io &ad in , Aeby Saint,
b SsA, $0119 any* uw4ftsp 40,8144 and p►1od&* unto Tba, First
N&tf*mlUnto Pmeks, Littls Maks A rkaosas, 'Tmet"I and
unto its wale lessor ors **w*Vs In test, and to dk on and their
assigns gbrevor,, far t`bo aaeuxift of th« porfer mm* of th* vb jW
tiew of the City h Asafter sst fsrdka
The following 4*serib*d real estatio and premLse# #jt"te4
in the County of
w md ftato of Arkwwasj with all buil4logom
odditions and lsptrarI i '" 01-0 DOW or hereafter loested thereon or
the"Ing with the toaswmtso beroditsmentst Appurt"4000s, rights,
privileges and lmw�mjtjos belonging or appertaisdAg.
and warrants the title to the "Not to -wits
ftrts Of the Swtak, *Wtuk* Swwk sod x9toko
All is 304tim Us Tomehip 13 Mortho lauge
6 Vests described " fellmot
at the *Wdw"t 0ormor of the SWtUts
tbmoe
death 297 feet to the worth lute of Hwy.
69; tbmc* Xortboestorly &Ioug and with dw
said North 11me of My. 69 (M 92 dog, W 205 fest ;
N 63 4*&, W W bot; x 47 ftS. w 19,1 &0t.
X 30 4%. W 450 feet) to the ligebotmes 6w
14 and the Wj of Section 13; theme Coutinalft
aloft the said North line of Hwy. 69, N 24 deg.
W M feet to a point; tbom* X 72 deg. Z 99
foot to & point ou th* UAW bow the M and
dw A of Section 33 that to 200 foot north of
the Intersoctiou of the said dividing line aw
dw Nowth Usio of 07. 69; tbmao Nwth *left
said dividing Lim 1160 feet to the Sm th Una
Of dI0 4XtONSLOa Of XSOU7 Street tbAMW0 Fast
ou said lim 1390 fe#t to the last lUw of the
Wj of the Ott of Sectim 13; tbww* S"th an
said IIAM and the last Lim of the Wt of dw sit
of *&IA Sectim 13 a distme* of 2017 feet to the
plAw* of bioglumIng,0 rc ttttrs 62.69 acres, more
or 1*00,
The followift described personal art y, mpij jrIt "
mcblMrY placed and Umotod In the buildings, additions and ixprw*40
seats OR the real **tat* and Promises described in �T" abom
All OAPLPWMt Md f$XtUres of epode
kind and matwo wbatever owned by the City at
&V time while any of the bonds are outsteridifto
IMIuding widmut U=Ltatiou buildIft service
+egtipwaee alto as that tem is defined, In the WbLt*-
Rodgers Loose Agreementm, Lessor's wmehLuory and
*quLpmmtg as that tern is deflued in the White-
Xodgers Loas* A&"ow=tj and all replazownts
and xubstftatLomo which became the property of
the Ciq pUrsuaUt to the provisions of the White-
R"Prs Us" Agreement. In this regard, all such
�earahfaeaery I e iI i, ' - sad fLatu ros of ov ery kLPA
and oatwe stbas be conclusively presumed to be
ommed by the City ss ess marked with aux appropriate
tag Or retb*r d"I" reflecting amership by the
Lessee under the v"te-hers iaease Agreement,
km
All rre" mes and $noone derived by the City from the pro-
Ject LOOladift without limitation all rental* received by the City
from the leasing of the pereperty, and in particular the rentals a"
profits received Under and pursuant to the White -Dodgem %ease
aAgre+aeeat, and pears "t to the tenae of which basic rout is to be
foraatrded directly to the Trustee for the account Of the City and
deposited In the account of the City therein des ated "1961 In-
dMStrial Development Ro"me Bond 1%=4 - White- 4prs project,,
('bea olm o *tom► f =" to As dw " Fun `) .
46
ARW And all otbr "wt ' of qty gm* a eater from
tuw to time taM or bby delivowy or by w3riting of
o0ove7odo t Pfd. &$OAgnod or t.1 01� 1tfet 1d* AS
a for a it""I � iq ► ' the City or by Say oto
porofts tim Or oftwPftat10ft, or wife t **moat of tho City, to
thO TMt*o t Wbich is bweby amut x'i rd to rwo OW acrd 411 eft
pop" at aw tiara and ata , tied &rA to h aid a 1y the saw
60jaot to to tem bentote
TO NOS AND TO HOW all tea sam with *II. p rivilOga ►
rjr �. , ,
.,. i,. M d ro. .-�. 3 k y-
�^ a� to -TT -T.
mW co dun and tb*Lr assigns foxwvw;
IN UWT M 0 up" the t*vn And tote
•Art fOVtlk &W dW 1 And swepwtiftaft bomefito seewity mod o»
tOctim of All bOUWWO SAd Owwwo of the WA boods Int* tt
a tato 4tta bed i&a d Wider and seeW*d by ddo
witbrt v:Lpriority or 4UWtlm" to Lima or otberwig e
of Say of akar bewW or o e tar attarebod wmr ate► of the
otbove of said boadol provided,* baa~, that if Cho City* its
a!aoO+e�rSOcs Or 4"19"o Shah well MW t r1y pay,, or camm to bo paid,
tho PrIMIP&I Of t Sad the Uatoet» +dee of to beesm dr*
dw*m, at dw tim" And In tbo ammor providodIn the boods and
the Iota " St: tempow appwt*A to dw boaftl, .volt',
Accord—
to tbo tare Launt 404 ming dwoof I and gull NOW the pay -0
arts sato the bftd Awd aur x*gvi od wWler Article 'p* of X11 prom
v1de,, ae ptrottod buebys, for dw past tbov wf by depoeltift
at causing to be 40posited with the Trustoo tb* emalre smomt 4"
Ot to b*cmw " tb*r*", and shtll well and truly keop# perfara
MW obsorv* &II dw ftwftmo,ft m ie" t to dw te"Is
Of tbL* Indentme to bo Upts -.--t*Vmd #Ad ob"md by Itt AuA
SUll PSY to dW 2ft*t** All SOW Of 804" *A* Or to b*MW AM to
it in IF1 1,0
I - SON" WI th dk* t*rM* a" PCOWL"AMS bwt"f # dwa upon
suck final pays"te this Awd tbo rl&to kAreby SMted
$ball *"So* detovid" A" bo v*14 odmwl", tbU jud"te" to
b* 40d "MIX IA flAll fft" S" Offset.
f
,11= 41 1prill:-:1111 dato a" it to aw-
Pr*4*4 dMIMeds all beaft L&SWd Md 08car" ass 14 mm to bo
"Ou"Stt t0d and 4*UVOX*d and 411 SWW COVOMAW 40d LOOM*
bw*by plodgod am to b* doalt vith ma asp**A of Undset upon and
SubdOtt to t t*V"o CO"itLOWs 4tIPIAJAtiGMs, 1-1-11-01"too 46XV0.0
WANSts a t3masts 0 0000 a" 1,10 Ir bw*lmfter I I
w and the
Uty bas Osmed "A movem"I - "d does bw*by Ogr" and covenant
vLth do erste* 44d vLdA tba V"PwtLvo b*UWvs and owwwoo ftva
tim to t1me of the *&U bonds or sot 4w any pwt tba"Of
" folumst t is is "Y.-
am
#JSSAUJAL. In &"Lt ion to the vost* and tome elsewhere
hereee
deefieoa+d in this , the folleea in words and teemo as used 1st
this Iae entki re $ball have the fol,lowi aeea
"1961 I4440trIwl Dwftlopeaeeeaet Revemm bond rund -White-
Ikodgars ero Bent or "Bond ft"%* • VII fu9ad of the City created by
Soot iou 302 of tbe, tudenture late rah the fueeds speeeifUeed Lep►
Article "V are to be d+ePasiteed lead out of which disbursements are to
he eoeaew W as exproosly autbmixed axed directed by the Indenture.
" " -"fie City of Batesville, ArWmwas InAustrial
V*V*lopeenernt: MOVOMM breads dated Yobrraeax7 1. 1%1 secured by the
t U" P
'*Compon*t . ?be &t.*Mot eeUpes+aws attached to the bomIs.
IVCjLW* - The City of batemd1lo, Arkansas. a city of the
Met CIS" Qaedeer the IMS of the State of Arkaerae" MW sit cued
in nae Camtyo Achwaa ema.
't104eewe 104"Wr*"' -. TUG est IndWotaero together with all in-
4*ntawres sm"lematol b ersto.
' + tts tndis , heeur�eeer'' » "boeads outstasdi ft hereeovier"
All ban" which baav* been ted and delivered umkr this
in-
&Wture retie *pt s
(a) Somis eameelleed baa of prneynmeeeeee,t +erredemption prior
to eaaturity; "W
(b) Books for the payment at redemption of which c"h she l l
have b+wNweeee thereetaofore deposited with the 'Trust** mW prayin& agont
(whether upm or primer to the matuxity or radeeeption date of any of
such bonds) provided that if such bomW are to be r*doewad prior to
the rratturityr thereof a, eewotI** of such r tote shall have been
given or provisim satisfactoryr to tbo Trustee and paying adetaet shall
have the"for, of a miVer of ouch U*t !e, "t1aftetavy In
fOm todwXMtoo and Parift osmtro shall be bom filed with tto
Trusteo and "YUS "**to
(e) Am" Im Use of WbIek others. be Sua"ted
the
city aatr the Place at fib► the of and Interost an the
beads shall be payable, The orIgUal RWUS Ageapt $A the ttw as d
Tnotee, annsly The first National Bank in Uttle Recks UttI* Maklo
a�aaa►s
"Peroom 1' ,0 bicludes atatwatl personal fes, asoociatimes,
tle and public bodies.
►Pr oot"', - The lands, pear rru t Sat n" 0 tatiQ a alraI sud
eIpwreaet „ ear trnted "d %rt ellod out of t wt pxftoods of
tb* boads and tie properties leased to t RSftftv comp",, '
' am t estate" at "Pnvortv Beare a *4 - The ar rt-
o"mo
fI t"411 - Iho Tlmmsteo fm the time betass vloo r"pinal
or I M , With dis orfs. art oo being go First National
Sank la Little &mks Uttl* mak, A ares.
ts4W arty" .. The ptopwtlee (real and personal)
eamprising the projects, Imladift tie paop«ertles OrIgi tally less" to
WbItemA04&mm Compay as well as all properties fib,, under the
t*nw of the , — eject to the ,tee► of
the l sen , but emuAtme all Property OWWd by u,tem-o"
amA to tahieb title, wmder tbo tenw of tett X hal e, arrrm alar s In
tete-ars C04MV0
" Ider" or *% : er" » bower and tb* omer of
Of the beads , trot rrsteared sting to pare.
EM
*4 r of the "' - fte Lo r of the Ware r bewAs and
e vosUtomd 6' of bmft s*&Usx-v4 as to priwipal#
lowu- -0-1, - + comparao o i e lawar U car-
pontieft s Low wwar dw Ai Lamm Agrommelftt.
term *hall olso lso Ismee, of whitaosoftwo, to dw avout
of an o pm'e t to dw torso of dw whirs
t*
to Section of - tam' I* but is the loom coIng.
dke leasing of the pr t to WUNPOASIe and Which 1"" is of
roamd to the of " of the, lCirwAt Clark and ' a r
of Ledo ss$and oil Mee Cittbareto it What"
mot „ wbub lemmmm woo or will boo o s
offt" of t Clow 4" IN Offtelo dot of -A-1poludento
Cemtyr Arkmo s.
go , . *fit of s "all be
III PRO IIII-IIIIIIII
o,.
s to . O"Oes the malt 11 otberviss, ica" f
pUmals as well as a six4pUre 000 ar.
An7eU It
of this Indentave except to 1 -1 C: -11440" with dAS Articlao 0" dw
(41#30#000). *=opt with mspmt to Substituted boaft issued mader
Roctift F•f
M-7, fill
Q Y
tt+esvi ls, A kwxs" taftetr1a1 move'lopmat Uveme, s"o I%MY
s :11 be datod"ovamr It 1%1 amd s 12 bww #at*st Ott tbe, r&te
of 5 3/6% per amm, psi*b1* 11y an robvWxy 1 SM August 1
1 to LSWI. I' sib. Thty shall wotare s is tly, unless somer
vedoemd 10 the wammer boraft Met forth,, wally on flobvuary 1 in
h of dw years set forth In aad 1n tbo mmomt sat opposite
Am
AM
1
Ma
AOM
1962
- 42
42, 000
1963
43
- 67
450
1964
6
- 13"
" 1000
1963
136
- US
501000
1966
146
- 336
33,x!
1967
239
. t04
560,000
1it6
20
- 353
sl,Ow
1969
354
- 416
63vOW
1970
417
- Z
"poop,
1971
443
- 552
701,000
1973
333
- 626
741o!
1973
627
- 704
76,E
1974
703
. 786
82tOW
1973
767
- 672
96*000
1976
673
- 963
919
1977
964
-10.39
969
1976
1060
-►1161
102*000
1979
1163
-1266
107oOOO
1940
1269
-LUI
1130000
1981
182
-1500
1190
0
'err 1WW
The interest on the bonds shall be evidenced by interest
coupons. The principal of the bonds, unless registered, and the in-
terest shall be payable at the office of the paying agent. The prin-
cipal, if registered as to principal, is payable upon presentation
and surrender of the bond at the principal office of the Trustee.
Payment shall be in any coin or currency which on the respective dates
of payment of such principal and interest is legal tender for the pay-
ment of debts due the United States of America.
Section 203. The bonds shall be executed on behalf of the
City by the Mayor and City Clerk thereof and
shall have impressed thereon the seal of the Ci!Z . The coupons
attached to the bonds shall be executed by the facsimile signature of
the Mayor which facsimile signature shall have the same force and
effect as if the Mayor had personally signed each of said coupons.
The bonds, together with interest thereon, shall be payable from the
"Bond Fund" as hereinafter set forth, and shall be a valid claim of
the holders thereof only against such fund and the revenues pledged
to such fund (but in addition shall be secured by a first mortgage
on the project), which revenues are hereby pledged and mortgaged for
the equal and ratable payment of the bonds and shall be used for no
other purpose than to pay the principal of and interest on the bonds,
and the paying agent's fees, except as may be otherwise expressly
authorized in this Indenture. The bonds and interest thereon shall
not constitute an indebtedness of the City within the meaning
of any constitutional or statutory provision. In case any officer
whose signature or facsimile of whose signature shall appear on the
bonds or coupons shall cease to be such officer before the delivery
of such bonds, such signature or such facsimile shall nevertheless
be valid and sufficient for all purposes, the same as if he had re-
mained in office until delivery.
Section 204. Only such bonds as shall have endorsed thereon,
Iver ..r
a Certificate of Authentication substantially in the form hereinabove
set forth duly executed by the Trustee shall be entitled to any right
or benefit under this Indenture. No bond and no coupon appertaining
to any bond shall be valid or obligatory for any purpose unless and
until such Certificate of Authentication shall have been duly execut-
ed by the Trustee, and such Certificate of the Trustee upon any such
bond shall be conclusive evidence that such bond has been authenti-
cated and delivered under this Indenture. The Trustee's Certificate
of Authentication on any bond shall be deemed to have been executed
if signed by an authorized officer of the Trustee, but it shall not
be necessary that the same officer sign the Certificate of Authenti-
cation on all of the bonds issued hereunder. before authenticating
or delivering any bonds, the Trustee shall detach and cancel all
matured coupons, if any, appertaining thereto, and such cancelled
coupons shall be cremated by the Trustee.
Section 205. The bonds issued under this Indenture and
the coupons attached thereto shall be substantially in the form
hereinabove set forth with such appropriate variations, omissions
and insertions as are permitted or required by this Indenture.
Section 206. Upon the execution and delivery of this In-
denture, the City shall execute and deliver to the Trustee
and the Trustee shall authenticate the bonds and deliver them to the
purchaser, _ r order,
upon payment of the purchase price plus accrued interest from the
date of the bonds to the date of delivery.
Section 207. This Indenture is given in order to secure
funds to pay for new construction and by reason thereof it is in-
tended that this Indenture shall be superior to any laborers',
mechanics' or materialmen's liens which may be placed upon the project
Section,.208. In case any bond issued hereunder shall be-
come mutilated or be destroyed or lost, the ._.. city______ shall, if not
C�
0
then prohibited by law, cause to be executed and the Trustee may
authenticate and deliver a new bond of like date, number, maturity
and tenor in exchange and substitution for and upon cancellation of
such mutilated mond and its interest coupons, or in lieu of and in
substitution for such bond and its coupons destroyed or lost, upon
the holder's or owner's paying the reasonable expenses and charges of
the QZX_ and the Trustee in connection therewith, and, in case
of a bond destroyed or lost, his filing with the Trustee evidence
satisfactory to it that such bond and coupons were destroyed or lost,
and of his ownership thereof, and furnishing the City and
Trustee with indemnity satisfactory to them. The Trustee is hereby
authorized to authenticate any such new bond.
Section 209. Title to any bond, unless such bond is
registered in the manner hereinafter provided, and to any interest
coupon shall pass by delivery in the same manner as a negotiable in-
strument payable to bearer. The CLtr shall cause books for the
registration and for the transfer of the bonds as provided in this
Indenture to be kept by the Trustee as bond registrar. At the option
of the bearer, any bond may be registered as to principal alone on
such books, upon presentation thereof to the bond registrar, which
shall make notation of such registration thereon. Any bond registered
as to principal may thereafter be transferred only upon an assignment
duly executed by the registered owner or his attorney or legal repre-
sentative in such form as shall be satisfactory to the bond registrar,
such transfer to be made on such books and endorsed on the bond by
the bond registrar. Such transfer may be to bearer and thereafter
transferability by delivery shall be restored, subject, however, to
successive registrations and transfers as before. The principal of
any bond registered as to principal alone, unless registered to bear-
er, shall be payable only to or upon the order of the registered
owner or his legal representative, but the coupons appertaining to
J�
CM
any bond registered as to principal shall remain payable to bearer not-
withstanding such registration. No charge shall be made to any bond-
holder for the privilege of registration and transfer hereinabove
granted, but any bondholder requesting any such registration or trans-
fer shall pay any tax or other governmental charge required to be
paid with respect thereto. As to any bond registered as to principal,
the person in whose name the same shall be registered shall be deemed
and regarded as the absolute owner thereof for all purposes and pay-
ment of or on account of the principal of any such bond shall be made
only to or upon the order of the registered owner thereof, or his
legal representative, and neither the City the Trustee, nor the
bond registrar shall be affected by any notice to the contrary, but
such registration may be changed as herein provided. All slich pay-
ments shall be valid and effectual to satisfy and discharge the lia-
bility upon such bond to the extent of the sum or sums so paid. The
City , the Trustee, the bond registrar and the paying agent may
deem and treat the bearer of any bond which shall not at the time be
registered as to principal, and the bearer of any coupon appertain-
ing to any bond, whether such bond be registered as to principal or
not, as the absolute owner of such bond or coupon, as the case may
be, whether such bond or coupon shall be overdue or not, fcr the pur-
pose of receiving payment thereof and for all other purposes whatso-
ever, and neither the City , the Trustee, the bond registrar nor
the paying agent shall be affected by any notice to the contrary.
Section 210. The bonds may be delivered in installments
as funds are needed, in which event (notwithstanding the provisions
of Section 206 hereof) the Trustee shall from time to time authenti-
cate and deliver to the purchaser the bonds specified in letters of
instructions signed by the Mayor, and the Trustee shall be entitled
to rely upon the letters of instructions as to the bonds to be de-
livered, the purchase price, and the amount to be deposited in the
Bond Fund for the purpose of paying interest. .�,
AILT LS III
Yobnwry 1, 1976 apt (1) fna pvocsods r"mLvOd from soa d+rw a»
"A t (44 a It forth Latheit�l�•�peat:'s ""+�r�t) s (+�) f
tie Vitae rwe+ iv*d pa" OdaatEt to tt MUS"LAM OY tis 'Losaw mdsar
the Wbittrr- rs iaaos A --g- of its aptio" to ppb (suet
forth in Section 2102 of t r wMts*a0 fts s L "ss mowut) o"
(3) from 4=0040 bOW p ee set r*qalxvd for the "lotim of
ths "Oct C«►a 40t forth is SawtLou 306 of the ' it"ors
tae 1 - M and It fitasrds from "L.d so"cos sro r' eiared derLa g
"Lad pori" the' bids sba11 bs erallsd, Lana a►la at' In part to the
OXt4Qt of the Lards so arwmiwad, an My i>tetWsst p&y1ft dato In La.
v*r** attasererLc*l order at the prLrwL.pa1 &moat of tb* boomb be an
called PUW sa+trrd Laatsrtrot to the ro&mLrtoae dots OW plus a
par „UN of d 1/ of the prIneLpial Wit. On old &fuer 7"abvua 7 1,
1976j, thO b+ s &t ail bs c&llabls for paymat parL,or to xatwritr
fx"r faa r fr" aw soaame (AMI Without usitattion tbar soomests
44's+tMLWA abQV& tam Bch a call my bis node prior to Febrmry 1,
19769 it bRsL,att$ OmWatavy to sail bswAs to the extent of faaods re-
eeL.wrd fr+tt staid somes0, in whole or in paart, in L.»os ata rrLCal
ard+er ou aw intomst part% data at tho priat ipal t of tths,
bomW b*Lv& c&ll" plat orated L.>a►ttsrorstt to tie r tL#on d&tt*
and plaatt a prrO Lift of such Pciftipai &= Pmt ss Ab1L.oarttrt 3% If rye.►
dree+aa►d FsbrreatrLr 1, 1976 trays 18, 197+61 f if arwdwtaeaed i'rebrrary 1,
1977 or Awgwt 1, 1977; 1% if rsdogned T-- — 1, 1978 or Aaurpast 1,
1978; acrd more prows ure if redoes thor eaftrrr
0
Section 302. Notice of any redemption shall be published
one time in a newspaper published in the City of rf�gack,
,►kon ,s,L , and having a bona fide circula-
tion throughout the State of /Lkawat
with the publication to be at least fifteen (15) days prior to the
redemption date. Such notice shall specify the numbers and maturities
of the bonds being called and the date on which they shall be pre-
sented for payment. Prior to the date fixed for redemption, funds
shall be placed with the Paying Agent to pay the bonds called and
accrued interest thereon and the premium, if any. Upon the happening
of the above conditions, the bonds thus called shall not thereafter
bear interest, and, except for the purpose of payment, shall no
longer be protected by this Indenture and shall not be deemed to be
outstanding under the provisions of this Indenture. It shall not be
necessary to give written notice of the redemption to the holder of
any bearer bond or to the owner of any registered bond whether or
not their names are on file with the Trustee.
Section 303. All bonds which have been redeemed shall be
cancelled by the Trustee together with the unmatured coupons apper-
taining thereto and shall not be reissued.
Section 304. All unpaid interest coupons which appertain
to bonds so called for redemption and which shall have become payable
on or prior to the date of redemption shall continue to be payable
to the bearers severally and respectively upon the presentation and
surrender of such coupons.
"TICLI lY
SEOUL 0
ANUMAL. The Citi' leo reti"tts that it will peemptly
Pay ths pri ip&i of sad lett *"St on wry bond VAwd mdor thisIn.
denture at the platre&, an the 4stos and in torteM=wr pa4"oa',d+ed lerereia
seed In said boWss and is the +coup s a trrt",a A t reto accotr&n&
to the, acre inttraent and tta "I eoi. The wimipal and Inte>rost
(apt that laid frm the procomb tv" thue sale of the boats and
aser"d iatt serest) as Mab1O saeleely lrQe revemmes deear vod team
tMu ltro Oct& whiek eroveareataras maces kereky Speatically plod to tho
Payment tberso$ in tho *&=or "d to to * Oxt*ut % *rein specified q
and aotle,#,% La the bewU or compotewe or is this UWOuturo tabt+awa.ld to
cam dosed ass P2046ift AW oto f0we air assets o Of the cig (Oxcacpt
ttk* "curift of H ula* i tebt sac *YUW=ed kir tho bonds and coupons
kir s first aaratart&%e on t:bte proj"t) o
Au. Uw Ctt v covretarttuuats that it Will faithfully
p*sem at alb. tiaaea & MW atad all "v*umts, raerdeartaklW, stip.
Ulttkloue Md ptrovis#aoas caeat &LOod is this bMjMtatro, is &V and eatery
Ott "O &ut; at atad dol vorod atuei 3,a all ord ,•
urea "rt ialft dw*t*-rQ4 CUY outs that It is duly
out bow:Lx 4 r the Cmstitt*tU% nerd hers of guar Shite of Arks="
'Ml> A patrt l* r4 444 witbmt 11wit4tt ion dost no. 91► to is"*
►'m bOSO 4utbMLUW heroby and to ex*"tts this i lent sure s to Owt.
* tt pr ter 4escribed atad =wtpgod bovoin and to ply t ae
reg emwe in the nowwr iaud to the saattil ut laurels* siren forth; that all
action an its part fcw the Isco of the bOWSMWthoexecutAm
i
and deliivory Of tk" tta o bats boom duly and *ffectivoly taken,
Ord that the in the lam of the holders aid owm era thereof
acre And will he valid wad etaforc eable oirli4sttr of the City
ag eordift to the U40vt tdtaae"oi M
3. TbO Citgr c*v*tat Mts that It l mainly
+rr
MA
owns and is lawfully possessed of the lands described and
mortgaged herein and that it has good and indefeasible title
and estate therein in fee simple and that it warrants and will
defend the title thereto and every part thereof to the Trustee,
its successors and assigns, for the benefit of the holders and
owners of the bonds against the claims and demands of all per-
sons whomsoever. The City covenants that it will do, execute,
acknowled;e and deliver or cause to be done, executed, acknow-
ledged and delivered, such Indenture or Indentures supplemental
hereto and such further acts, instruments, and transfers as
the Trustee may reasonably require for the better assuring,
transferring, mortgaging, pledging, assigning and confirming
unto the Trustee all and singular the property herein described
and the revenues pledged hereby to the payment of the principal
of and interest on the bonds.
Section 404. The City covenants that it will promptly
cause to be paid all lawful taxes, charges, assessments, imposts
and governmental charges at any time levied or assessed upon or
against the mortgaged property, or any part thereof, which might
impair or prejudice the lien and priority of this Indenture;
provided, however, that nothing contained in this section shall
require the City to cause to be paid any such taxes, assessments,
imposts or charges so long as the validity thereof is being con-
tested in good faith and by appropriate legal proceedings, and,
provided, also that such delay in payment shall not subject
the mortgaged property or any part thereof to forfeiture or sale.
Section 405. The City covenants that it will at all
times cause to be maintained, preserved and kept the mortgaged
property in good condition, repair and working order, and that
it will from time to time cause to be made all needed repairs,
replacements, additions, betterments and improvements so that
the operation and business pertaining to the mortgaged property
j ��
1%W
.w
shall at all times be conducted properly and so that the
mortgaged property shall be fully maintained.
Section 405. The City covenants that it will cause
this Indenture and all indentures supplemental thereto, to be
kept recorded and filed in such manner and in such places as
may be required by law in order to fully preserve and protect
the security of the holders and owners of the bonds and the
rights of the Trustee hereunder.
Section 407. The City covenants that so long as any
bonds issued hereunder and secured by this Indenture shall be
outstanding and unpaid the City will keep, o1 cause to be kept,
proper books of record and account, in which full, true and cor-
rect entries will be made of all dealings or transactions of and
in relation to the project and the revenues derived from the
project. When requested by the Trustee, the City agrees to
have the said books of record and account audited by an inde-
pendent Certified Public Accountant. The audit report shall
contain at least the following information:
(a) All revenues derived from the project and
all expenses incurred by the City in con-
nection with the project;
(b) All payments, deposits, and credits to any
payment, transfers and withdrawals from
the funds created under the provisions of
this Indenture;
(c) The details pertaining to bonds issued, paid,
and redeemed; and
(d) The amounts on hand in each fund showing
the respective amounts to the credit of
each fund and any security held therefor
and showing the details of any investments
thereof.
The City further covenants that all books and docu-
ments relating to the project and the revenues derived from
the project shall at all times be open to the inspection of
such accountants or other agencies as the Trustee may from
time to time designate.
cm
as" known to the City mWer tb* term of this sections, it will Uesp
OR file At tke office of the Tnwt*o at Ust of *meet and Address**
of the lost known boldears of all kaft pelratb is to bearer and be-
lieved,
ee-linea ed to be bold by each of such I&Ot known holders. Any bondholder
my requost that his mamo &W aa4dretrss be pUmod on Said list by
fil#ft a written ars%""t with the City or with tbte testees, which
a *gmst 4*11 is A ststo+at"t of the Principal amovat of bards
held by smolt bolder sad tete mombers, of steaalt bomb, The Trustee shall
bee under so responsibility with mord to this Accuracy of said list.
At reasonable t%rss And under reasonable aroggl at +e ar established by
the 'frust oo & said list aaealt bs isarpretted seed eropL" by holders And/or
O"Ovs (oar s 4604wratOd pM+etatt&tiv* thereof) of ton per creat (10%)
or eaearee is paristiptl aaataunt of bonds Outstanding ieer, ar, such owner-
ship and tete autbovity of AM smolt 4ss4m t*4 a reWssso#aative to be
evidenced to the tisf"tisu of dw Tnwtee*
IM&UM mo It to understood that the ftoj*ct has be* 11
leased to Whitowleftoro =mUW a Lrwasee dated -01110imllmm, 1961s
wb*vsiet .0doleadeotee m=tY, %xAS 10400tvitl Dvrslo
pmout Coarpeara-
tient is the Origiml Lessor atnd White - acs is the Lessss. The
said Leasee is rsaaaaac+dee�id iae the Office Of tete Cirmit Clork aatatd l
Officio Recorder of litlwdtepeuad***ea CAmuty. Arkansas arced is referred
to iawsareis as ter 'VkitO'*R0d40VS Laeass aroemoQt", A copy of the
WhIA00 sirs Lo"* Agreement is an fila with the 'larrawstoo. The
whit"Retftaers Lease� t t eptly ass by l aecee
C4NMtyg Aacb+aaa s" Industrial rs%rpg"t Corporation to the City AW
the City has become the Lessor tiateace unglor to all intents cad parr-
peaweees ass therm "d as the Qvlg MAI lessor. A copy of the hit"
,eears Lsaaas arssreeot and a copy of the Acari gnam et are an file
with the T&Wteo &W r*fiat wwe is b*mby WAMk to SWW Whito_lOfters
Lea" A&r for & gt&toamt of t1w team MdcomUtmo thereof
and for & "tett A stat"mt Of MIS r10" 4ad abligationti►g of the
parties two-- * nw LUM Of WA ZMASAWWO Is Subject and sUb-
"4'Mt* to the Whift'40440" IANOW A$Xeswmt. The city oggees to
um"T" 011 COW604"S MW Obl4ptlams of tbo L*Smw (White-Ma4pro)
UN&r the WUt&w%$d&0X* LaWe mmenj and 4grees tiot dw Wit"
Is Its am now or In the "We Of tb* City aw OUAWCO ^11 r4ots
Of the LSOW MW ^11 Ob Of the Lassoo WA*r and pwsumt
to 44JAWhAt*-#Awftw# Is&" _gr@1gm@Rj' lot MW On bWalf of the bead-
howw"o whether or not dw "meet (City) is In defoult In its
coveamts to ontaves emb rights atm obluotteaso
In", AA9* nw c4ty eavveamts *ot it WL11L Got 4*11
or Otb$xvi" tUOPOSO Of tb* Nwtg*&*d property, o"t to WMte.
JWW&ors In I c I 1 1" 1
aw" Witk the Prow"iftw Of tb* whito-Rafte"
LoSse Agrawmatp &M that it will aft WWRIM11mb 4 tb* s Or any part
dmmwf or its Interest t1wrela of Create or pondt to be mmoted
OW ebwxg* or lion an the *aVewma derived dwetnago se pt as pvo-
V:L"d in t"s lndmtw**
2
ARTICIA V
obL4atiMW Of the City but ae special obliotioes payable solely
freaee rove es deariv*d from the"set and as araretborisod by Act
No. 9 OW ir"f*W heroin, the 'or etre secured by a eeartpw an
the mort&sged property,
AS heretofore set forth, partioulerly is Uttioa 409
hereof $, the resat has been leased to %bites-WWSM s and "der the
C bLW- rs Lasso Agreemato art, !the basis: rest payments are to be ree-
mittod directly to the Tnwt*o for the a+ecomt of the City mW deems►
Posited is the (hereinafter a eestod) . 7he said basic
resat Payments are at least sufficient in aeenot to insure the Prowt
9aYMOUt of tbae SUM41 pri ipal of sad intstreest an the boWs MW
the entire mmat of said basis "at payments is Ploft*4 tee the pay—
eemt of the principol of sand interest an the bomb.
ANUS 1- is bnr+sby + "tom MW Ordered to b*
established with the Trust** a trust fond to be 4ee016matred "1961
lUdWtriAl i velopWat Vis* bond T+ it*- ers fro joert°11
(which is someetimoo rof*rjr od to herein as the"'BaW Fund").
all aeeceerated Interest vt*Oi4v*d at the time of the de►livory of the
beaods, +read, is ti.oct, such amt frou the parercoods of the sale
of the beads ars shall be pessary, together with tete aeeeer d in»
toreest, to sow thea August I, 1961 Interest regairome "s an the
bomft and such part of thea Febrrmul 1, 1962 Interest and prine4ml
ar0quirmcmmts as will not be provi4od frac the basic recuact payablo
by Whits—ors prior to feebrmu7 1, 1962 mm"r the provisions of
Sle tioiar 301 of said .tee- ears L aso A&raommt. In addition*
there shall be deposited into F�md, as and wbon reeeiveeds
(a) The sommut r cid in the Cometrwtion rand
�A.
(borelmaeft*r Created) after thee rroj enct shall hov* Leta fully COM-
ploted aaa!ad Pau
(b) All basic x%mt pSysmtS s ifsva &wtions 301 mW
302 of the WkIte."ftoris t^"e AVO*mmt. MW
(c) All aet1wr man" roceeivod by t1W Txusto* umkr
p stwtnt to aw of t p d►vtota r of the whito-Rodgers was d,weeeemat
direeert s to bo paid into th# XMW Fmd. The Citi
hor y suet's an$ a rel►ess tot so I as my of the bei Issued
hwsrswrsaas Eeer ass elastst"dift it will 40posit sx +leatttwllalt,te to bs potit+sd
in tb* saw Fund for its &*eemut stsffieaie at ids from r*vmransles
4ad "w+e derived the f ojeMct (whether or not mder and pur»
sssaent 't t*- *vx mss Wi t) to tly nw*t SVA pay
tillers px iw3»patl of MW interest am the boads as the sow bewe:em dw
alaW payable, AuW to this rd ttllrte City OvemMts and agrees that,,
sa loft as aw bonds issasertd %pre m—.A- are cutstandivem it will cause
the Oct to b* +smart mmusly and officlAeswttly oap"Ol d as a s
and LUDG s S PrOdueIng 'smdertoking and that should there be a default
under the ate-Raftrs lo"* Agreement with the result that tho
right Of pones SiOU Of the I*&* [ preeadsaeae sarxWer the Wbite-Rodpre
Lease Agrommewt is returned to the City $ the City Shaul fully a -
reaper -attar with the Trustoe and joitEh the bondboUkra to the end of fully
parott"tift the frights and 400witl r Of the bandbolders and, if mW
when rgrmtod b3' dEM retw Trsttoe& aehstll diligently proceed in good
Wth and tnr m its best efforts to secure aotbar t for the
Premises to the etard of at all tin" "rives, Sufficient r eve"Wsw
and lareawomwfnw theft*Jact to pacm*tlY met and pay the principal
of and #aa`tt*r"t on the AS the #am brr om due and pay*b1*
NOtbift itnsvel ar sha 11 be eaaaarsttrued aha requiring the City to us# a,11y
funds or rev esartmMes frrawa alay source Other then and rev nes
d*r'v*d tram t:b* ft*J*ct for th* PAYw=t Of tb*, principal of and
Int"eat On tho bMW*$ but nsthj% h*r#jA #boll be coustra*4 as pro,.
hibiting the City fr4a dQj% so*
1MI19H, Aa, As bovecofort, pwvj"d iA SO4tion 503(a)
tyre am"" ;Cwwla'% '* the C0"txwtiQA ft" (hOrki"fur tr"ted)
#Xte'r 'rr*j*ct SU" bs" "**c* LU14 tIwVI*t*4 UA paid for Is
to :to the rMd. ftrs"At to Lbu Prov,slo," of
S*Ction 306 of th& Whit*-Aodgers L*AseAgresamr- (1) such r*msinj%
�w
4 mxiam of $22S8,0001, is W r0wolu U aW to part of dw
Bond Alud as a r"orvo (W bf U404 as harolzaft*r serf iqA), (2)
*%Wh "m"AiU& WOURt is 4=esa 4f $12500000, but w4at to 0M*ed 4�1000,0
's to 11* credited 064iAst tht 1ASWI.Immt, of basJ4 rent Met &w to
Lt paid Ly LOSS" Pux"Wat to Uwtion 301 of the Whito-oxaftairs
Loose Agretvout, and (3) s%wh ranjujag &Nowt Dot disposed of in
accordww4 with the obvft is to be used for the redemption of baWa
is Occ*rd&ftc* witA ChO PrOAslaus pertaining to redQ*tjou #,"_
WWV* W faith in this judeatu". Tbo said rtswvc (wh*thw
tr*atod out of tb* r0ftsiftift &MMUSt In theConstructiog yvwA,
'*Ww* 8*t 1cwth,# Or Out Of Um Adati"41 basic rent paymuts set
f*tth In SectIon, 302 of tbft'kUt*-RQ4WS Loose Agreowat) #b&ll
rowin in 4nd be part of tb& gOO4 Fund as & r6serve for pa witen
d" of tbo petwipol of OW Interest an the book,, if r*qM11,64 for
that PUVPQ"o and Oth4twi" SMIIL vewain LU thS bs" hmd and bo
mosdo to the extent Of dw 440"t tbe'roof" for tb* Payment of tbo
lost b*"s 'Alas "t"a"Ift WA*r this 1440UMV0, If for wW
reason the 0900ye, ta dw a*" FMd# emlusive of tbe amount in such
r0aw"s shall at as tam %ALI* aw of tbo bouds issued borean"r
shall be outst"Ai% be insufficient to soot when due &W principal
and/or tatorroot paywat & tho r*"rvo 0 or the r*quirad Portion thereof,
.00e:l
Shall be used to the But t I__ to make said Principal and/or
interest paywout. to the ev t of Say "ad f t re from sugh reserve 1,
the reserve shall be re *od in the, 400vat expended t herofrce
areae tete first a ,fable "Vow" in the wed not refired for
went principal and inmost pgVseats on t hre All moneys
In the bond , Inolift Such reser 0, in excess of the amount
INSUso+d by the Federal pepoeit rvss'aenre Co"Ovat , doll be Con -
tis r and +s OLIStOTIMllY seCtred by bonds or other direct or fully
,paweraeat»aed obliptions of the ftitaNd States of America, t that
"ONSYs therein iftwosted, is aatt herrised ebl atiOns alder MW PAr-
saaet: to tete PCOVISIONS of Aftielo 'VII of this Ind"two seed not
be so sunned.
., m - drys In the Bond FMQd shall be riled, subj ea t
to the
provisions +set Mian ,
40101'y
for the
psyment,
of the Pari
cipal.,
interest and redemption praata
4,
if 4MYP
OR gene
bonds either
at maturity or at redemption ion pricer to W"WUYi prOv d0d, hewr► "r, that
such Provision shall not be eolwt&AwA as prohibiting a r*ftwA to Whitow
Softers of excess basle cents, if a", is secordowe with the tt
M.
VULOss of Section 303 of the "Whits.- ens iaease Agnonent.
JftltM w The bond Fund shall be is the slate of tbo City,
dfs aat0d as set f0vth in Section 302v and the city hereby ixrwvgc&bly
act rims+r►s +sped +direetts the Trustse to withdWaesr from the Sold pund, one
day before away► POMP met of P risetpsl of or prem or ist merest on, any
bond becomes diwee mad parable, an amount equal to the principal,
pr+estlrwewe (ii any) and Interest so beef doe =4 payable and to dew
pP►it -tbS . $4100 with the ftring Aigent for tbo paerpoSS, of paying twptid
Principal& pry and interests Leh authorization and direction
the TXWtee heave r maw cepts.
UM Z - la the client Any bonds shall not be presented
for prsYwMt When the priawOipmtl thereof become due, either at aaetorit:.y
or tetb"WIse, Or at the date fixed for redemption thereof ereof I or in the
*v4mt any Coupon, shell not be presented for pa at at the dree date
tbereof a if tbaere sbAll be" bOwn deposited with the Payift Ag*at for
the purposes, or left is trust* if pec&+a I usly so deepositod, fueds suf-
fiettte t tett pay the Principal tbste of t+getbor with all interest unpaid
etteW 400 tbeereft s to dw date of maturity tbteroof, or to the date fired
for redemption tboroof 0 or to tap' 014 VOMPOS , as dw cease any be, for
the befit of tae bolder tibsreof or the hol4or of swesb c+leupon$ all
It"Llittlr of tete City to ths bttaleier d wereof for the payment of the
pa l th&"of and Interest thagoom, or to the bolder of said ower-
due ee for tbu PILYMNSt theroof, as the dace may be, #ball forth-
with ceeaae, detarrter1w and be completely +dtae btark' eed0 AMA ib-re+attpoee it
sbtall be the duty of tote NYINS ASOUt tete hold such fund or 6=ds, w itb-
out liability for Interest tboroeu, for the benefit of tree bolder of
such boad,carr trbtrt► bolder of stub, o0upsta, as the "se cagy be o who *bull
thoroafte r be restrictisd +exclusivoly to sumer► atm or fea Ws, for artey
claim, of wbatevorr na t v* Om, Me part, vu"r r tMa feature or On, or
wi t h rospec t to, said boad. or coupon.
It Is =Mtersteo►sd and aPvod that pursuant
to the paroriristawas Of Section 304 of the i.toe- sews twesse Agree -
Seats the L+esseeee WWWr said atee-Beers Lo"* a reaaeeeeat agrees to
Pay as "Utim el rsut tibes fees and SXPSUWW of tko ftift Agent
for the bonds and the charges and expenses payable to the Trustee
AS audWtiseed and provided by dds Tit Inimt oro. Said lessee is
to take such paygents SOUL -4000411Y as staterenauts rendered by the
PsYlft AgOut and flews usteeee. All such a "i,t a mal rreeeat pray event$
roceiwol by the Trrustoo under said t+i Mte•aodgors Leese i�rreeaattetwrea<tt
sbtall not be paid Into tie bud meed but *hall be set up to separate
Accounts apptrc0pr1ate1y dosiptewated to identify the particular account
and shall be eexpandod by tbo Trustee solely for the purpose for
Wiens such additional rent pweyeetrtestts are received, and the Trustee
hereby a&"** to so establish said ACCOMts acrd to Sikk* PSynftt
therefrom for said purposes.
OM " All ammys Wired to be deposited with or
paid to the Trashes, and P*YUW, A,gmt trrrorder mW provision of this
'rust ludsatu" eboll be held by the Trost" a>rred f''1ft Agoat in trust,
and except fon weneyg deposited with or paid to the Trustee and ftyin
*karat for the rte►desption of bombp netice of the rodeimptum of which
has bow duly gives, shall, wbri to held by the Trustee and
.germ, 0090ti,t utee Pert of t bwe trerst estate and subject to the lien
heereaf. Any rosy received by or Paid to the Trastsee parsucut to or
as a result of the pxervi.si s of Article V. ati`an 12021, Article
ZVI or Article Mi of tete Wblte- ear Letrrtse Ag rreesteat shall be
hold, A&AD s terred fraud pursummat to the provisimo of the
WbIte-40ors Lerasee Adre,mue-rt p urs a nt to rah or as a result of
which the sstee wears received by the "Trustee sand„ rite re required by
the provisiaw of said Lease Agroemanto the Togstee shall Deet the
aside in a isep a rra t e occowat. Tbe city hearty "raw tbeet if it
*hall reive Many artreaarys PWSVWWt to the provisifte of Articles
V# XVI or XVII of "JA Leasee AA gimmresret, it will foe'tb th upon are-
csi.pt thereof pay the saw ower to the Trustee to be held, odertiedistered
aced disbursed by the Trustee in sane eaace with the provi.sia m of
said Lease Agvemment paxwmat to wbd cb the CICY 014Y base arxceiee d
the ,taste.
x
the Trust" is arathQa is" anted directed to m6mad to the Less"
amider the Writ &Wg& rs Lsaaese ASareesemt all ermr e"a beesiac rest prryarrr ats
and all mAmss additional mart payeemaaets, as specified is &Wtious
303 sand 304 of the Wite- rs I^"* Adreoanrnt, whetbrer such ex-
c*ss its be is the bond Pied or in special s ecomtae.
AATICU V1
Im"011-121. The seemed interest attend the Proceeds of
the "Is of the bonds (ho"Ja called 4total Salo rMoode,r) shall
be 4"bUrOW OVA handled " follow:
(a) Ut rmtem, moll take out of the total "is Proceeds
an amGmt OVAL to the Ampot Ix 1961 and February 1, 1962 interest
r*qu,iremonts an said bonds and the Tobruary 1. IM prLmipgl r#.
*dxemmts# 10" the ASPO&SU Ammat of basic rents to be paid by
Wbit'O-10AWS uadft $"tie& 301 of the Whit*-Rodors La&" 4roopont
Prior to February Is 1962, and WWII 4OPO#Lt the 04010 into the Bond
1=
(b) Uwm shall W disbursed by the Trustee "t of the
total "I* Proceeds r"Winims of tar the rmpirements of (a) hereof
are
*at$ Pursu"t to a
letter Of butnICtLOGS NUA"
by the Mayor
and
Clerk of the City 0
the anamts necessary to covcr
the mcqW"j.
tion of the Wort-OAAmmcad
property from laedepseeedree a C4004t9's Arkansas
Industrial Development corporation and to reimburse e
Comty,o Ar "s IU*Wtr$Al D"010pasat CW"V&tioa for *XpftditUXOS
so" by it an the Fro, "t up to the date of &*qWWjtjm by the
city* imimums without LIALtation the Payment Of the principal
and Interest Of Ixt"In finamolng obligistLeass and with regard
there" the Trustee shall see that all WrtV9*S a" Was incurred
In 00000etion with the iaterin f1mming am satisfied of record;
and
(a) 2be b&16=0 Of the total "10 PVC,0046 shall be do -
posited in s, special account of the City in the Tnwto* gonks which
is hereby emated and ordered to be establiabod and which shall be
4*819"t" `'1961 Industrial DOVOIDPONSt COnstruction Fund" (heroin
called "Cmstrwt$Au jUmd"). no &WO"t an deposit In the CM0
stnNtLom ftsd in sm*" of the 0 1:1 11111 t Insured by the Iraderal "m
posit Corporation =mst be contlawpugly Secured by bonds or
other direct or fully OblIVItLOOM Of the United States of
Amerleal ptvvidad; however,, dot aq W"s in the Cmgtnwtion lead
lavestod, In with the PCOVLOLOW of Article VII hereof
used not be "am". The C&"txWtj" ymd is lat"ded to be us"
only for the payment of "PrAject costs'' as that term is defined JA
the le 1 01010 dated the 407 Of dater, 1961 by sed bot wo*4
1012000040006 Comatys Arkansas 1*6wtr"l 90"10pumt Corporation A"
White -#Ads*"# which aA I It 1 -1 aet Portabis to the 600striation of the
ftoject. Ther teaeteat bas been "84ped, to the city md mocuted
Copies of the
--*swat MW Assigummt arse an filets in the office
Of the City Clark of the City a" rofew"WO Is hereby ag& to the
son for a statemat of the rith" old Oblustions of the parties
thereto.
Trus too In ace dat a with and pursa"t to rOqUiNitUfts sl ed by
om or moro duly desivatod repr*sestatives of the City (Wbuk
40SL&VAtIm Still be In writift sed filed with the T*Wtoo) and
SLAPed by me or move duly 4*0$&**ted we" eeMutative$ of White-
ROASOrs (wk"h AGOILAStIm Sball be In writand filed witb the
Truste*). tub Oak roquigitim shall specify.
(1) ?be Um of the pmoom* firm or eorporati"
to WbIft P&YWgmt is
(2) Amomt to be p&U;
(3) That the 4 1, 1 - �I - r�� �kt is for & proper expense
of the "ect; seed
(4) %U parposo by Somral *bWSjfU&t"Q for which
the obU&atlm to be paid was Imurred,
Tx%wtoe my cowUmi oly "Sun* tkAt 4sy roqu"Itiva
witk the 80 sit roposents a prow Omgp
adaisst tbo cometniat% fid.
WIMh Vequisition shall be t+ed to tripli to
aw 000 sow thereof $boll be Mad With the r"toel$ +set csrpy with
the City Clark md +tee coff with w"tegodpro, nw testes SMI,
keep and maintain edits rods p*rtadatst to tyreC"StrMtLoa
humis and all d o rs _ is tbMs "d Alt any tLus upgn revWst
of tb* city or wbiteolodproo t Trwtee *hall file an "eamatim
tbaroof with the City Cly of the City and cue- ,$ *
` mer the pity W t rs $ball
Jointly notify thea Truet" that the balamoo ryeLulag in the
structieft feud Will not bye Melded bec"" all act a+ is be"
been dMototam psfd, a%" balssns Injull In them C"strwtim
fend smil bs deposit" in t"b* b"lad as bs etof*ra*
s"em" in sssti n
—A"ICLI VII
MONIMP hold for the credit of the Can.
struction Fund $ball to tete extent practicable be Invested *ad V*40
Lav*st*d by the T"WtOO in 4LVMt Obli&ationg of, or Obl4WtIovm the
printips, I and Later" t an which are arantood bys the united State*
which
he'" Maturity dot Os$ or are subject to redemption
by the holdorit at the Option Of the holder, an or pr1w to the date#
the hinds will be WW"d as set forth In a eanstrugtion timetable
executed by the City and whitewR0d&*rs.
(b) "amys held for dw credit Of MW at f=W shall to
the extent PrOctIcablo be Lomested and Tolftvoot*4 by the "posltwy
In direct obligatimm of, or obl4ptions tb& PLOLS41pal of o intorost
on Witah are guaranteed byl, the Wted State# GOVOrUM10to Alth $hall
Mature# Or which
0411 be subject to redamption
by dw holder
thoroOf,
at the OPtLon Of
the h9ld*vw 00t later than the
date or 4atox
whea
the wormy hold for the credit of the particular fund will be required
for
the purposes With
reprd to the
r*sorv* in the land
FW%d
and the "SqU10"St ""Mt -
WbIt"b"SOVS
ft*j**t" as definod
In Article X11 of tbo Whit&-Ao4&S" Lmmo afire t, I the Trus tee
.1"
#hall IM*at W*MSYS dWe" ift qW*0r44WM With the ditOctiorm of
the City and WhIto-waodgers.
(C) obllsatims so " AU IMMStWMt Of WVA*yg
in &W such food dk*II be deemed at *11 times a part of such funds
and the Interest aftruift theroon and mW profit realised, frou such
imrostnents shell be crod1tod to amb funds and say less resulting
from such Investment shall be charged to such fuad*
AiiC,g 'VIII
,k2UM.x„21. Provided no event of default, and no event
which with the Ovist Of notice W Passage of tim or both would
constitute an tit Of 46foults exists, mW "building service
*q%iPWfttf's as that taee»'aaal is defined IA the 'White•htea $0 rs mase
Agareea ont s 04 my of Lessear's samaki awry amd a a►t, as that
tamale is defined in the Afteoledgers Lamm A&reeeeaaeatt, my be rte -
wed, sold, replaced or otherwise, disposed of aae prom in the
ate-* rs lie" Ag�reesastaat meds wLtbmt U= tatito, parartiml arlp
iaa Article lel thereof, ae" the ., store shall, 1, and is hereby
authariawaed to, upon a showing to the Trustee of oa*lia>aece with
the said applicable provU oaas of the t 1. ►godgors iessm Agrremwnt
pea•taiamiug is such VammMls salae, roplacemeeaatt or disposititam, take
tthe aeecess4rlr steps to roles" the sated properties froau the lions
In this tune. The preteeds of aaw such rel, sale, or
other disposition shall bre handlod by the 'trustee is accordance with
the provisions ons of Said Whitomlo4gers Lease Agit Including,, with,*
out limitst#cut paatrtieuUrl,y the provisions of Article XII thereaof.
" Ago AXW oqu prone ut, machinery aid personal property
Placed taa or tea the owt ssed propertlrs wbedwr Lau, omebafte or in
lieu of &W sold, Wired or disposed of Wider motion 801 hereof,
or otherwise, placed t herel ae or thereon at mW time, except equip"
t, machim ery and persomatl property placed ther* m by tb* Lessee,
under the ate- era Loaso J reeeaee mt at the said Losstete's sole
eaeprease and to which the, title remaiaaas in the said Lessee,, shall
automatically become and be s"Ject to the lion of this mature
as if Specifically mart&age,d hereby. `alae City will, howrerrureears repose
written re'""t by the Tftst"s OQK"Y the Same to tbo Trust" by
an indenture s%Wplemutal bmMt* In form and substance "tisfaceory
to tb* Tm*tO* Or OtbMV &PPrWiAtO Instrument as requested by the,
Tantes, and owggo the *ame to be recorded and filed in such manner
as the Tna too requests to som" and coutimAe th& lion of this
Indentur* thereou,
IMILM WA- It to ba"by "CO&OL"d by the City and
the Tnwts* that dw Lasaw uadw dw WhLt*-*Ae4&*r* Lamm Agr*enont
has ros*rv*d the r4ot In Article X111 thersof to obtain the r* -
I*&" fron the lion of this 1"cutwo of aortain of the awtgagod.
1,40" fw us* is ANY OUPONSIM program of the said 1,asseo. upon
a sufficient sboving to the Tmatoo tb^t the tormso v# Ojens
and conditions of Article X111 of do WhLto-Rodgers L*"* Agrosoent
bave been "tisfiod, and wtv the Tmotee oballt and is h*roby
Ou0mix4d, too tAkS, the 6044sawy *top$ to r*lease said Luide b*Ift
utilized in wW owk uetrcpseasi,rsade program f tato lieu of this In-
ddutu3r**
IM" M. The Tnwt" shall b* autbmixods wbAm r*-
"OstOd bY 06 UtYiw to Join with the City la taking the necessary
$tape# or, Lf rogsired, to execute an appropriate mleaso of the
lien Of dLu stories to great smoor and utility Peas is Ovors,
&10fto 64r"S And %04*T the MW%&%o4 property provided that tho
Tk%wto* is satisfied that the le"tice of any "" oww"to MW
the O&tu" dwrSOf "All not latorfo" with the reasonable, use of
the mortafted PVOP*rq for 014014"eturift Mind related Purpoess and
will not intortwre with the prosent, or logiaal futw* us* of the
wortVWW property by any Lisse".
ARTICLE IX
DISCHARGE OF LIEN
Sec�innn 941_ If the City shall pay or cause to
be paid to the holders and owners of the bonds and coupons the
principal and interest to become due thereon at the times and in the
manner stipulated therein, and if the City shall keep, perform and
observe all and singular the covenaats and promises in the bonds and
in this Indenture expressed as to be kept, performed and observed
by it or on its part, then these presents and the estate and rights
hereby granted shall cease, determine and be void, and thereupon the
Trustee shall cancel and discharge the lien. of this Indenture, and
execute and deliver to the City such instruments in writing as shall
be requisite to satisfy the lien hereof, and re -convey to the City
the estate hereby conveyed, and assign and deliver to the City any
property at the time subject to the lien of this Indenture which may
then be in its possession, except cash held by it for the payment of
the principal of and interest on the bonds.
Bonds and coupons for the payment or redemption of which
moneys shall have been deposited with the Trustee (whether upon or
prior to the maturity or the redemption date of such bonds) shall be
deemed to be paid within the meaning of this Section; provided, how-
ever, that if such bonds are to be redeemed prior to the maturity
thereof, notice of such redemption shall have been duly given.
The City may at any time surrender to the Trustee for
cancellation by it any bonds previously authenticated and delivered
hereunder, together with any unpaid coupons thereto belonging, which
the City may have acquired in any manner whatsoever, and such bonds
and coupons, upon such surrender and cancellation, shall be deemed to
be paid and retired.
ARTICLE X
DEFAULT PROVISIONS AND REMEDIES OF
TRUSTEE AND BONDHOLDERS
Section 1001. If any of the following events occur, sub-
ject to the provisions of Section 1013 hereof, it is hereby defined
as and declared to be and to constitute an "event of default":
(a) Default in the due and punctual payment of any interest
on any bond hereby secured and outstanding and the continuance there-
of for a period of thirty (30) days;
(b) Default in the due and punctual payment of any moneys
required to be paid to the Trustee under the provisions of Article V
hereof and the continuance thereof for a period of thirty (30) days;
(c) Default in the due and punctual payment of the prin
cipal of any bond hereby secured and outstanding, whether at the
stated maturity thereof, or upon proceedings for redemption thereof,
or upon the maturity thereof by declaration;
(d) Default in the performance or observance of any other
of the covenants, agreements or conditions on its part in this In-
denture, or in the bonds contained, and the continuance thereof for
a period of sixty (60) days after written notice to the City by the
Trustee or by the holders of not less than ten per cent (107.) in
aggregate principal amount of bonds outstanding hereunder.
The term "default" shall mean default by the City in the
performance or observance of any of the covenants, agreements or
conditions on its part contained in this Indenture, or in the bonds
outstanding hereunder, exclusive of any period of grace required
to constitute a default an 1Qevent of default" as hereinabove provided.
Section 1002. Upon the occurrence of an event of default,
the Trustee may, and upon the written request of the holders of
twenty-five per cent (25%) in aggregate principal amount of bonds
outstanding hereunder, shall, by notice in writing delivered to the
City, declare the principal of all bonds hereby secured then out-
standing and the interest accrued thereon immediately due and payable,
and such principal and interest shall thereupon become and be
immediately due and payable.
Section 1003. Upon the occurrence of an event of default,
01e City, upon demand of the Trustee, shall forthwith surrender to it
the actual possession of, and it shall be lawful for the Trustee,
by such officer or agent as it may appoint, to take possession of,
all or any part of the mortgaged property with the books, papers and
accounts of the City pertaining thereto and to hold, operate and
manage the same, and from time to time to make all needful repairs
and improvements as by the Trustee shall be deemed wise; and the
Trustee, with or without such permission, may collect, receive and
sequester the tolls, rents, revenues, issues, earnings, income,
products and profits therefrom and out of the same and any moneys
received from any receiver of any part thereof pay, and/or set up
proper reserves for the payment of, all proper costs and expenses of
so taking, holding and managing the same, including reasonable com-
pensation to the Trustee, its agents and counsel, and any charges of
the Trustee hereunder, and any taxes, and assessments and other
charges prior to the lien of this Indenture which the Trustee may
deem it wise to pay, and all expenses of such repairs and improve-
ments, and apply the remainder of the moneys so received by the
Trustee in accordance with the provisions of Section 1008 hereof.
Whenever all that is due upon such bonds and installments of interest
under the terms of this Indenture shall have been paid and all de-
faults made good, the Trustee shall surrender possession to the City,
its successors or assigns; the same right of entry, however, to exist
upon any subsequent event of default.
While in possession of such property the Trustee shall
render annually to the bondholders, at their addresses as set forth
'` w
in the list required by Section 408 hereof, a summarized statement of
income and expenditures in connection therewith.
Section _100_4. Upon the occurrence of an event of default,
the Trustee may, es an alternative, proceed either after entry or
without entry, to pursue any available remedy by suit at law or equity
to enforce the payment of the principal of and interest on the bonds
then outstanding hersu!*der, including, without limitation, foreclosure
and mandamus.
If an event of default shall have occurred, and if it shall
have been requested so to do by the holders of twenty-five per cent
(25%) in aggregate principal amount of bonds outstanding hereunder
and shall have been indemnified as provided in Section 1101 hereof,
the Trustee shall be obliged to exercise such one or more of the
rights and powers conferred upon it by this Section and by Section
1003 as the Trustce, being advised by counsel, shall deem most ex-
pedient in the interests of the bondholders.
No remedy by the terms of this Indenture conferred upon or
reserved to the Trustee (or to the bondholders) is intended to be
exclusive of any other remedy, but each and every such remedy shall
be cumulative and shall be in addition to any other remedy given
hereunder or now or hereafter existing at law or in equity or by
statute.
No delay or omission to exercise any right or power accru-
Ing upon any default or event of default shall impair any such right
or power or shall be construed to be a waiver of any such default or
event of default or acquiescence therein; and every such right and
power may be exercised from time to time and as often as may be
deemed expedient.
No waiver of any default or event of default hereunder,
whether by the Trustee or by the bondholders, shall extent to or
shall affect any subsequent default or event of default or shall im-
pair any rights or remedies consequent thereon.
Section 1005. Anything in this Indenture to the contrary
notwithstanding, the holders of a majority in aggregate principal
amount of bonds outstanding hereunder shall have the right, at any
time, by an instrument or instruments in writing executed and de-
livered to the Trustee, to direct the method and place of conducting
all proceedings to be taken in connection with the enforcement of
the terms and conditions of this Indenture, or for the appointment
of a receiver or any other proceedings hereunder; provided that such
direction shall not be otherwise than in accordance with the pro-
visions of law and of this Trust Indenture.
Section 1006. Upon the occurrence of an event of default,
and upon the filing of a suit or other commencement of judicial
proceedings to enforce the rights of the Trustee and of the bond-
holders under this Indenture, the Trustee shall be entitled, as a
matter of right, to the appointment of a receiver or receivers of
the mortgaged property and of the tolls, rents, revenues, issues,
earnings, income, products and profits thereof, pending such pro-
ceedings with such powers as the court making such appointment
shall confer.
Section 1007. In case of an event of default on its part,
as aforesaid, to the extent that such rights may then lawfully be
waived, neither the City nor anyone claiming through it or under it
shall or will set up, claim, or seek to take advantage of any
appraisement, valuation, stay, extension or redemption laws now or
hereafter in force, in order to prevent or hinder the enforcement
of this Indenture, but the City, for itself and all who may claim
through or under it, hereby waives, to the extent that it lawfully
may do so, the benefit of all such laws and all right of appraisement
and redemption to which it may be entitled under the laws of the
State of Arkansas.
*W
Section 1008. Available moneys shall be applied by the
Trustee as follows:
(a) Unless the principal of all the bonds shall have
become or slia.l.l b t z been declared due and payable, all such moneys
shall be
Ve t: to the payment to the persons entitled thereto of
all installments of interest then clue, ;n the order of the maturity
of the installments of such interest, cud, if the amount available
shall not be sufficient to pay in fall any particular installment,
iheti to the payment ratably, according to the amounts due on such
installment, to the persons entitled thereto, ;aithcut any discrimina-
tion or privilege;
Second: to the payment to the persons entitled thereto of
the unpaid princl p!T ]. of any of the bonds sha 1 have become due
(other than bonds called for redemption for the payment of which
moneys are held, pursuant to the provisions of this Indenture), in the
order of their due dates, with interest on such bonds from the re-
spective dates upon which they become due, and, if the amount avail-
able shall not be sufficient to pay in full bonds due on any particu-
lar date, together with such interest, thea to the payment ratably,
according to the amount of principal due on such date, to the persons
entitled thereto without any discrimination or privilege; and
Third: to the payment of the interest on and the principal
of the bonds, and to the redemption of bonds, all in accordance with
the provisions of Article V of this Indenture.
(b) If the principal of all the bonds shall have become
due or shall have been declared due and payable, all such moneys
shall be applied to the payment of the principal and interest then
due and unpaid upon the bonds, without preference or priority of
principal over interest or of interest over principal, or of any
installment of interest over any other installment of interest, or
NO,
of any bond over any other bond, ratably, according to the amounts
due respectively for principal and interest, to the persons entitled
thereto without any discrimination or privilege.
(c) If the principal of all the bonds shall have been
declared due and payable, and if such declaration shall thereafter
have been rescinded and annulled under the provisions of this
Article, then, subject to the provisions of paragraph (b) of this
Section in the event that the principal of all the bonds shall later
become due or be declared due and payable, the moneys shall be ap-
plied in accordance with the provisions of paragraph (a) of this
Section.
Whenever moneys are to be applied by the Trustee pursuant
to the provisions of this Section, such moneys shall be applied by
it at such times, and from time to time, as it shall determine,
having due regard to the amount of such moneys available for appli-
cation and the likelihood of additional moneys becoming available
for such application in the future. Whenever the Trustee shall apply
such funds, it shall fix the date (which shall be an interest pay-
ment date unless it shall deem another date more suitable) upon
which such application is to be made and upon such date interest on
the amounts of principal to be paid on such dates shall cease to
accrue. The Trustee shall give such notice as it may deem appro-
priate of the deposit with it of any such moneys and of the fixing
of any such date, and shall not be required to make payment to the
holder of any unpaid coupon or any bond until such coupon or such
bond and all unmatured coupons, if any, appertaining to such bond
shall be presented to the Trustee for appropriate endorsement or
for cancellation if fully paid.
Section 1009. All rights of action (including the right
to file proof of claim) under this Indenture or under any of the
bonds or coupons may be enforced by the Trustee without the
A"-
VW .rr�
possession of any of the bonds or coupons or the production thereof
in any trial or other proceeding relating thereto and any such suit
or proceeding instituted by the Trustee shall be brought in its name
as Trustee, without the necessity of joining as plaintiffs or de-
fendants any holders of the bonds hereby secured, and any recovery
of judgment shall be for the equal benefit of the holders of the out-
standing bonds and coupons, subject to the provisions of Section 404
hereof with respect to extended, transferred or pledged coupons and
claims for interest.
Section 1010. No holder of any bond or coupons shall have
any right to institute any suit, action or proceeding in equity or
at law for the enforcement of this Indenture or for the execution of
any trust hereof or for the appointment of a receiver or any other
remedy hereunder, unless a default has occurred of which the Trustee
has been notified as provided in sub -section (g) of Section 1101, or
of which by said sub -section it is deemed to have notice, nor unless
such default shall have become an event of default and the holders of
twenty-five per cent (25%) in aggregate principal amount of bonds
outstanding hereunder shall have made written request to the Trustee
and shall have offered it reasonable opportunity either to proceed to
exercise the powers hereinbefore granted or to institute such action,
suit or proceeding in its own name, nor unless also they have offered
to the Trustee indemnity as provided in Section 1101 nor unless the
Trustee shall thereafter fail or refuse to exercise the powers herein-
before granted, or to institute such action, suit or proceeding in
its own name; and such notification, request and offer of indemnity
are hereby declared in every such case at the option of the Trustee
to be conditions precedent to the execution of the powers and trusts
of this Indenture, and to any action or cause of action for the en-
forcement of this Indenture or for the appointment of a receiver or
for any other remedy hereunder; it being, understood and intended
I I . 4
93
that no one or more holders of the bonds or coupons shall have any
right in any manner whatsoever to affect, disturb, or prejudice the
lien of this Indenture by his or their action or to enforce any right
hereunder except in the manner herein provided, and that all proceed-
ings at law or in equity shall be instituted, had and maintained in
the manner herein provided and for the equal benefit of the holders
of all bonds outstanding hereunder. Nothing in this Indenture con-
tained shall, however, affect or impair the right of any bondholder
which is absolute and unconditional to enforce the payment of the
principal of and interest on any bond at and after the maturity
thereof, or the obligation of the City which is also absolute and un-
conditional, to pay the principal of and interest on each of the
bonds issued hereunder to the respective holders thereof at the time
and place in said bonds and the appurtenant coupons expressed.
Section 1011. In case the Trustee shall have proceeded to
enforce any right under this Indenture by the appointment of a re-
ceiver, by entry or otherwise, and such proceedings shall have been
discontinued or abandoned for any reason, or shall have been deter-
mined adversely to the Trustee, then and in every such case the
City and the Trustee shall be restored to their former positions and
rights hereunder with respect to the property herein conveyed, and
all rights, remedies and powers of the Trustee shall continue as if
no such proceedings had been taken.
Section 1012. The Trustee may in its discretion waive
any event of default hereunder and its consequences and rescind any
declaration of maturity of principal, and shall do so upon the writ-
ten request of the holders of (1) one-half in aggregate principal
amount of all the bonds outstanding hereunder in respect of which de-
fault in the payment of principal and/or interest exists, or (2)
50% in principal amount of all the bonds outstanding hereunder
03
In the a&" Of MV Other default* provided, boweeveer, that, there
shall not be m ved (a) SAW OVMt of default in the past of
the priereeipal of nary bomb isseeed h 11, c reeearier eeetred eoutstaeradi herOtwAeer
at the date of maturity e --4W - ifl4d thwuor (b) MV default: in the
payeeeed►t: of the inert neer of bed 9=4 eeeeeamys esaless prior to seeah
waiver or reeereeeissian all arrears of Ist a rest, with interest at the
rato borm by tyre b+ocardoe In rospect of "Leb such default shall hs"
oceee erreed can Gase instalImsts of ieee►teeeerest or all arraaeears of bead
fisad Pmts j, as the cease aerrery bee, aaed al l eupena*$ of the Trust"
and fty1ft Apft shell have beeeeere paid or provided for, and in eases
of a,w such waiver or remission or is eass say proceeding taeerirsn by
the Trustee an aeeeeeeeeeeamat of &' sUCh default $ball be" been discos-
timued or aba>endea m 11 Or dot simmix ed adversellr, then and in *very xuah
erase the Citi►, Zest" +creed th+ee bOadialders shall be restored to heir
foamor posit acres and rivets heeer+e- moder respeeectivoly; but no Such
wwaaLvor or rescisslan shall extend to say sm 1, 11 quent or other deefault,
or fir air right eeecne- , Vol at theereeca,
JAj
staeedta , no default sMll eeeceaeeestitutre as ev t: of default until
aatgal t"O of such default by rog steeareed or certified mil (with
Or witbmt return reg eipt requested) $ball be given to Wbit*-
xs and L%O-0Radgers 0all not have corrected $acrJ4 drlefareotlt
or a:meed said defectlt to be eea rr'rereectsd within a period of thirty
c30i days after the milia of "Id notice; provided# ho eeveer # if
said default be such that it cammot face etorroctsd within said
thirty i30i day Varied the failure to correct the son dk wall. rarest
ceooersrta t* an a V*ut Of drwl' "lt if ceer>rreetivO action 1s Ins ti tuteed
within said thirty (30) day period and diligently pursued until
the default to eoorroeteed. With reord to any alb defawerlt, the
City er+ebr mea OW ^pp0#Ats Wbit idgtrs as its attortwy in
fat With 9611 WAtbMity to PMAOM MW +t*Vewmt or obligation
of the City alleged JA said nate to omstituts a default$ in the
now and atmad of the City with fall purer to do OW ssd all thipp
MW +Cts to tb* s SKt t that the CIt Y COUld die Mad psrf t ARV
such tis and act* with ll power of substitationo The provisions
of tbis Article X are all soject to the lj*jt&tieu that if the
Uws+ee sr tke Whits-► rs tma" Ap*ommt shall not be In 4* -
fault mer tree torso tb ersof j tom, not wit ►ts"Ing the se~i,stema
of an *vent of default n , usitber the t" mor a" bonAl-
holdershall ewe the rpt to terVdMte Mak l ee Agr.omment or to
Interface is s "y with l "oo's pos"asim of for less" promisos
mer said Lre
.
AWPOI
...y
ARTICLE; XI
TIM TRUSTrIE
Snr.tion 1.1101. The Trustee hereby accepts the trusts im-
posed upon it by this Indenture, and ag: ees to perform said trusts
as an ordinarily prudent trustee under a corporate mortgage, but only
upon and subject to the following expressed terms and conditions:
(a) The Trustee may execute .any of the trusts or powers
hereof and per_ f"og"y ao.y c vties required of it by or through attorneys,
agents, receivers or employees, and shall be entitled to advice of
ccvinsel concerning all matters of trusts hereof a -:3d its duties here-
under, and may in all cases pay reasonable compensation to all such
attorneys, agents, receivers, and employees as may reasonably be
employed in connection with the trusts hereof. The Trustee may act
upon the opinion or advice of any attorney, surveyor, engineer or
accountant selected by it in the exercise of reasonable care, or, if
selected or retained by the City prior to the occurrence of a default
of which the Trustee has been notified as provided in sub -section (g)
of this Section, or of which by said sub -section the Trustee is deemed
to have notice, approved by the Trustee in the exercise of such care.
The Trustee shall not be responsible for any loss or damage resulting
from any action or non -action in accordance with any such opinion or
adc, e .
(b) The Trustee shall not be responsible for any recital
herein, or in said bonds (except in respect to the certificate of the
Trustee endorsed on such bonds), or for the recording or re-recording,
filing or re -filing of this Indenture, or for insuring the property
herein conveyed or collecting any insurance moneys, or for the
validity of the execution by the City of this Indenture or of
any supplemental indentures or instrument of further assurance, or
for the sufficiency of the security for the bonds issued hereunder
or Intended to be, Somwed bar,, or for the velure at title of the
property bovolaee tea$ or w to the a eteaaaaarce of the
s+cuaritY bWeof; Qx*ePt that in the evt the Trustee entsear* Into
p066e810ft of At peeart or all of the party berets co►m eyeed pu r`sumt
to sir provious of this , it mall we due diligence in
peraseearefg sareb Property; seed! the 'fareestoe shall not be bowd to as-
teeartain Or Inquive as to gess parfecauses or obsearvemo of stay cave -
manta, conditi ws or &PON to on t part of the City a sucept as
beeroinaftrear sat to rth; but the Tnwtaee my arequiro of the City full
infoarneeatim and odvUw as to the pwerfortnanra of t +covetearats,
conditions and sforosad as to the eaoadition of the
property bene n son oy+aedo
(a) fte Tno tea mW beacow t b s owner of bon" and
40UPOW seared bereby with tbe, saw rrigbts Abe it would beave if
oat TrC ota".
(4) Use 3�rmto a $bwell be protected In acting upon sir
notice, rete t, Comment, certificates order, affidavit, letter,
t*10&rM. +rex other paper or dommout believed by it to be deenuir
sed torro ct and to beam b *14mA or asset by the proper person or
s» Apy action taken by ttbse fxuates puersumt to tMs tura
upon tbae roqu st or Authority or sousest of any Person who at the
time of making suede roquest or gids nut rarity or event is
the owner of sip boord **owed boreby, SM11 be eery lesiva and bind -
LOS "POO all futWO GwDmm of dW same based anrwd open boads issued In
exohm" t b o rofoar or in Pun* thereof .
(0) AS to tb o SKUte as or noewedstenco of mW fact or as
to the sufficlemy or validity of arW inatrugent, paper or parWooding,
the Tzwteo *hall be aentitUW to volt' upon a easyrtifU*ta of the
CitY Signed by its Mayor aW attested by tea City Cbw rk as
sufficient evidence of the facts therein contained and prior to the
occurrence of a default of which it has been notified as provided in
sub -section (g) of this Section, or of which by said sub -section it
is deemed to have notice, and shall also be at liberty to accept a
similar cern*-f-Leate to the effect that any particular dealing, tran-
saction cr Faction is necessary or expedient, but may at its discretion,
at the reasonable expense of the City, in every case secure such
further evidence as it may think necessary or advisable but shall in
no case be bound to secure the same. The Trustee may accept a
certificate of the City Recorder of the City under its seal to the
effect that a resolution or ordinance in the form therein set forth
has been adopted by the City as conclusive evidence that such
resolution or ordinance has been duly adopted, and is in full force
and effect.
(f) The permissive right of the Trustee to do things
enumerated in this Indenture shall not be construed as a duty of
the Trustee and the Trustee shall be answerable only for its own
negligence or willful default.
(g) The Trustee shall not be required to take notice or
be deemed to have notice of any default hereunder except failure by
the City to make or cause to be made any of the payments to the
Trustee required to be made by Article V (with the time limitation
noted in (b) of Section 1001) unless the Trustee shall be specif-
ically notified in writing of such default by the City or by the
holders of at least ten per cent (10%) in aggregate principal amount
of bonds outstanding hereunder and all notices or other instruments
required by this Indenture to be delivered to the Trustee, must, in
order to be effective, be delivered at the office of the Trustee,
and in the absence of such notice so delivered, the Trustee may
conclusively assume there is no default except as aforesaid.
Ef
Q
(h) The Trustee shall not be personally liable for any
debts contracted or for damages to persons or to personal property
injured or damaged, or for salaries or non -fulfillment of contracts
during any period in which it may be in the possession of or managing
the real a-ld rs,_;,!.ble personal property as in this Indenture provided.
%.111 At any and all reasonable times the Trustee, and its
duly author`.zed agents, attorneys, experts, engineers, accountants
and represerta.tives, shall have the right fully to inspect any and
all of the property herein conveyed, including all books, papers and
records of the City pertaining to the ,;roject and the bonds, and to
take such memoranda from and in regard thereto as may be desired.
(j) The Trustee shall not be required to give any bond or
surety in respect of the execution of the said trusts and powers or
otherwise in respect of the premises.
(k) Rctwithstanding anything elsewhere in this Indenture
contained, the Trustee shall have the right, but shall not be re-
quired, to demand, in respect of the authentication of any bonds, the
withdrawal of any cash, the release of any property, or any action
whatsoever within the purview of this Indenture, any showings, cer-
tificates, opinions, appraisals, or other information, or corporate
action or evidence thereof, in addition to that by the terms hereof
required as a condition of such action by the Trustee deemed desir-
able for the purpose of establishing the right of the City to the
authentication of any bonds, the withdrawal of any cash, the release
of any property, or the taking of any other action by the Trustee.
(1) Before taking such action hereunder, the Trustee may
require that it be furnished an indemnity bond satisfactory to it for
the reimbursement to it of all expenses to which it may be put and
to protect it against all liability, except liability which is ad-
judiested to have resulted frm the aftligento or willful default of
the Tomsteog bY reason Of mg action so tWm by the Trusts*.
ANSAM Un* The Te"tem shall b* entitled to payment
and/or roilarSt for its Voimsomabl* fees
for services rendered
Iyer der "d all &6"Oes" counsel to" OW ot"r anPonsas reason.
ably and Q"*""LIY M" Or Incurred by ttw Trwt*e in and ebout
th* "w""m Of the trusts created by this Udenturia and In and
abut tbI* moi" Md "vf*nM" by the ftuat" of the p"ers
MW duties of the Tftstoa ll -m- I RM -9 and for 611 ftsoonablo md
necessary costs and expenses iererwrror in defending OW liability
in tine Pra*L*04 of 43V ab""tor vbatsesvor (unless such liability
Is edjudicatod to bon resulted from the Deausence or Willful
default of the Trusts*)- In this rMG&Tds, the City has maide provision
in the Wh't*'"dS*" X"" Atreaftmt for the P"mWt of said resson-
able and moceasiary mtftmogl, fib"s Costs and wpm**,* MW rgforame
is her made to said WhItommefters jamm est - I -- t, I= Iodine
particularly Section 304 dwroets for the provisions so made.
In this r*&MM* it Is =WW#tdOd tbat the City pladgps no fVWW
or r"*=Ws other then these provided for in said W"te"'106gors
'MOAK Ag""Ont and the VOMAMS derived from and dw avails of
dw WDrt&aVW Pr*PWtY to dw PSYMMISt Of &V obligations of the
City set forth in this * ImhWift tb* obll,ptien sot forth
in ddS Section 11+2. but motb bW*iu #bell be emstrued " pro-
hibitIft the city t"m usift MW offer fun" 4" revo=xss for the
P&Ymmt Of any of its obligattang wader tbis Trust Indenturs. Upon
default by the City, but only wpm default, pursuant to the pro_
vi&"m Of this Indenture portaialog to d4f4ults, the Trust** *hall
have 4 first Jim with r4*t of pgymat prior to pay"at on &cComt
Of Prl=iP&l Or Interest of any bond issued bear *under upon the
mortaftod property for said reasonable and atdvemos,
fees costs and iawn by dw est".
If a difsait scars of WU*b tba TMeteo
is by sub-oseation of Soctim 1101 hereof dared to take notice
or if notice of default be given it as JA 4&14 sub-ssc t ion (S)pro-
vided. tboe the Trustee sball givo written notice tb eroof by mail to
tree last known ommers of all bonds sutst 6 ding bur vowed sbmn by time
list of ldae s TOW1,9bf the tens of Section 408 beroof is
be kept at the offiaao of the oto*,
AMAM ,. IA air Ju4icial proceeding to were dw
City is a pturtY and vWh is the Opinion of the Trustes, and its
Counsel iia a substantial bearing an t'bre interests of owners of
J�
bonds issued hereunder, the Trustee may intervene on behalf of bond-
holders and shall do so if requested in writing by the owners of at
least ten per cent (10%) of the aggregate principal amount of bonds
outstanding hereunder. The rights and obligations of the Trustee
under this Section are subject to the.approval of the court having
,jurisdiction in the premises.
Section 1105. Any corporation or association into which
the Trustee may be converted or merged, or with which it may be con-
solidated, or to w1hich it may sell or transfer its trust business and
assets as a whole or substantially as a whole, or any corporation or
association resulting from any such conversion, sale, merger, consoli-
dation or transfer to which it is a party, ipso facto, shall be and
become successor trustee hereunder and vested with all of the title
to the whole property or trust estate and all the trusts, powers, dis-
cretions, immunities, privileges, and all other matters as was its
predecessor, without the execution or filing of any instrument or any
further act, deed or conveyance on the part of any of the parties
hereto, anything herein to the contrary notwithstanding.
Section 1106. The Trustee and any successor trustee may at
any time resign from the trusts hereby crated by giving thirty (30)
days' written notice to the City, and su h resignation shall take
effect at the end of such thirty (30) days, or upon the earlier ap-
pointment of a successor trustee by the bondholders or by the City.
Such notice may be served personally or sent by registered mail.
Section 1107. The Trustee may be removed at any time by
an instrument or concurrent instruments in writing delivered to the
Trustee and to the City, and signed by the owners of a majority in
aggregate principal amount of bonds outstanding hereunder.
Section 1108. In case the Trustee hereunder shall resign or
be removed, or be dissolved, or shall be in course of dissolution or
liquidation, or otherwise become incapable of acting hereunder, or in
case it shall be taken under the control of any public officer or
...I%W Now
officers, or of a receiver appointed by a court, a successor may be
appointed by the owners of a majority in aggregate principal amount
of bonds outstanding hereunder, by an instrument or concurrent in-
struments in writing signed by such owners, or by their attorneys in
fact, duly ajt`:iorized; provided, nevertheless, that in case of such
vacancy the City by an instrument executed and signed by its
Mayor and attested by its City Recorder under its seal, may appoint
a temporary trustee to fill such vacancy until a successor trustee
shall be appointed by the bondholders in the manner above provided;
and any such temporary trustee so appointed by the City shall
immediately and without further act be superseded by the trustee
so appointed by such bcndholders. Every such temporary trustee
so appointed by the City shall be a trust company or bank in good
standing, having capital and surplus of not less than Three Million
Dollars ($3,000,000), if there be such an institution willing,
qualified and able to accept the trust upon reasonable or customary
terms.
Section 1109. Every successor trustee appointed hereunder
shall execute, acknowledge and deliver to its predecessor and also
to the City an instrument in writing accepting such appointment
hereunder, and thereupon such successor, without any further act,
deed or conveyance, shall become fully vejted with all the estates,
properties, rights, powers, trusts, duties and obligations of its
predecessor; but such predecessor shall, nevertheless, on the written
request of the City, or of its successor trustee, execute and
deliver an instrument transferring to such successor all the estates,
properties, rights, powers and trusts of such predecessor hereunder;
and every predecessor trustee shall deliver all securities and moneys
held by it as trustee hereunder to its successor. Should any instru-
ment in writing from the City be required by any successor
trustee for more fully and certainly vesting in such successor the
y *OW � -, 14W
estates, rights, powers and duties hereby vested or intended to be
vested in the predecessor trustee, any and all such instruments in
writing shall,on request, be executed, acknowledged and delivered
by the City. The resignation of any trustee and the instrument or
instruments reir-xiing any trustee and appointing a successor hereunder,
together with all other instruments provided for in this Article shall,
at the exp�rase of the City, be forthwith filed and/or recorded by the
successor trustee in each recording office where the Indenture shall
have been filed and/or recorded.
Section 1110. In case the City shall fail seasonably to
pay or to cause to be paid any tax, assessment or governmental or
other charge upon any part of the property herein conveyed, to the
extent, if any, that the City may be liable for same, the Trustee
may pay such tax, assessment or governmental charge, without prej-
udice, however, to any rights of the Trustee or the bondholders
hereunder arising in consequence of such failure; and any amount at
any time so paid under this Section, with interest thereon from the
date of payment at the rate of six per cent (6%) per annum, shall
be repaid by the City upon demand, and shall become so much additional
indebtedness secured by this Indenture, and the same shall be given
a preference in payment over any of said bonds, and shall be paid
out of the proceeds of revenues collected from the property herein
conveyed, if not otherwise paid by the City; but the Trustee shall
be under no obligation to make any such payment unless it shall have
been requested to do so by the holders of at least ten per cent (10%)
of the aggregate principal amount of bonds outstanding hereunder and
shall have been provided with adequate funds for the purpose of such
payment.
Section 1111. The resolutions, opinions, certificates
and other instruments provided for in this Indenture may be accepted
by the Trustee as conclusive evidence of the facts and conclusions
stated therein 40d shall be tall warrianta protection and &Ut borit7 to
the Trustee for the r01040e of property =4 the withdraaa l of Cush
IMILM . In the event of a Chafto In the office of
Trustee the old Truste* WbUb Ms resigned or been removed *ball
+rte to be hWift Agent asd dw T=st/ee shall bocame the
TbSs still be paid the sftnkvd ami
st ararY hWift ►tt's fees emed des of the pmrytmg Agent for
dliag the papamat of the p►rLWipakl Of +arced interest as the barAs
sed fVQdS sufficient to pay the same shall be deposited with the
ftying A&mt prim to the dates an vUeh payments are required to
be *We as prim1pol old interest.
ARTICLE XII
SUPPLEMNTAL INDE:ZTURES
Section1201. The City and the Trustee may, from time to
time and at ar - time, enter into such indentures supplemental hereto
as shall not be n—,onsistent with the terms and provisions hereof
(wainh suxprl,enental indentures shall thereafter foam a part hereof),
(a) to cure ny ambiguity or formal defect or omission in
this Indenture or in any supplemental indenture, or (b) to grant to
or confer upon the Trustee for the benef-.t of the bondholders any
additional rights, remedies, powers, authority or security that may
layfully be granted to or conferred upon the bondholders or the
Trustee.
At least thirty (30) days prior to the execution of any
supplemental indenture for any of the pw.r.p.:,jes of this Section, the
Trustee shall cause a notice of the proposed execution of such supple-
mental indenture to be mailed, postage prepaid, to all registered
owners and other bondholders whose names and addresses have been filed
with the Trustee. Such notice shall briefly set forth the nature of
the proposed supplemental indenture and shall state that copies
thereof are on file at the principal office of the Trustee for in-
spection by all bondholders. A failure on the part of the Trustee to
mail the notice required by this Section shall not affect the validity
of such supplemental indenture.
Section 1202. Subject to the terms and provisions contained
in this Section, and not otherwise, the holders of not less than two-
thirds (2/3) in aggregate principal amount of the bonds then out-
standing shall have the right, from time to time, anything contained
in this Indenture to the contrary notwithstanding, to consent to and
approve the execution by the City and the Trustee of such in-
denture or indentures supplemental hereto as shall be deemed neces-
sary and desirable by the City for the purpose of modifying,
W4W
altering, amending, adding to or rescinding, in any particular, any
of the terms or provisions contained in this Indenture or in any
supplemental indenture; provided, however, that nothing herein con-
tained shall permit, or be construed as permitting (a) an extension
of the maturity of the principal of or the interest on any bond issued
hereunder, or (b) a reduction in the principal amount of any bond or
the rate of interest thereon, or (c) the creation of a lien upon the
mortgaged property or a pledge of the revenues pledged to the bonds
other than the lien and pledge created by this Indenture, or (d) a
privilege or priority of any bond or bonds over any other bond or
bonds, or (e) a reduction in the aggregate principal amount of the
bonds required for consent to such supplemental indenture. Nothing
herein contained, however, shall be construed as making necessary the
approval of bondholders of the execution of any supplemental inden-
ture as provided in Section 1201 of this Article.
If at any time the City shall request the Trustee to
enter into any supplemental indenture for any of the purposes of this
Section, the Trustee shall, at the expense of the City , cause
notice of the proposed execution of such supplemental indenture to
be published one time in a daily newspaper of general circulation
published in the City of Little Pock, Arkansas. Such notice shall
briefly set forth the nature of the proposed supplemental indenture
and shall state that copies thereof are on file at the principal
office of the Trustee for inspection by all bondholders. The
Trustee shall not, however, be subject to any liability to any bond-
holder by reason of its failure to publish such notice, and any such
failure shall not affect the validity of such supplemental indenture
when consented to and approved as provided in this Section. If the
holders of not less than two-thirds (2/3) in aggregate principal
amount of the bonds outstanding at the time of the execution of
any such supplemental indenture shall have consented to and approved
the 6" 4i Y. . «asheroin
r .....w x da ass holdery bond
tom gr A object 4�'j.." +i e term 00
provisions contained
thor*la, or the ftmv*tL*n thereof., or in arW =m;nnor to question the
propriety of the execution thereof, or to enjoin or restrain the
Truste* or dw City from executiog the *am or from takir% any action
pursuant f1S ffi the 8 i :. x 4 Upon 'YI z execution # inch
. N
XuPPI*m
P LU60ftturot
this k f d Af k i r i s {^ deemed Y 4
modified q a. amem&W to
aceordame r1-
LUSAM,12210 Amythi herein to the contrary «
stand; ns o, a supplemental iY- under this Article XII shall not
become Oftoet lv* unless and mtil, 'ut ter-Rodg+cers shall have con -
seated
to tbo executtion and delivory of such mVp1mme etal fYu&mtw e,
In this regords the TW*t o* Shall c*vuw cootie* of the pre"ssd eta u-
tion and declived► of *V such supplowntal Indent uro teegeether with
a cOpY of serd srpltal iudeuture to be waited by eti-
fierd or registered mail to white- e" at least fifteen <15i
days prior tee the proposed date of execution aaed delivetT of any meb
suppl. tat teere « tato err shall be deemed to e
consented to the execution and delivery of swW Beach; supplemental
i t az* if the Trustee reeei s a letter signed by an autharizrd
Q fiftr of Wftite-Roftsra emprossing the commmt of VMt o-RodddSors
wiYtWA fifty (IS) OWys after the mall.ift of notleer and a copy'
of the p erd supplamtal In6mature to Whit*-Rodgws, or if
the Trustee s not receive a letter s by on authorised officer
on or befw* 400 o'clock p.m., Central Stud Tim, of the fif-
teemth day after the mailing of said noti.+ , wMte-,Rodgerg shall
be deemed to consented to the execution and del,ivm7 of such
h
supplemental Indenturgs
ARTICLE 1111
V177,;'
0
MY time but not Prior to ddrty (30) 4*Y8 after Publication of the
notice Provided for In Section L302 beroof, Cement to aw Swondments
chwW
Or ? of Y
g a or
option to ymbww Aited Wbito-Rodsors
w NYS:he purpose
t ,.i R
6,. ambiguity 4' 4 } t or
ehaop .ofts . Y 5 the i t i ..t ±'s of tbilk Tnwto* is
R to the
,Pre j udi,ae Of the TvW t*e Or the holders of the toads. The Trustee
shall not eft to OW Other anent, Ckaw or ssdLfieatioa
Of the meter boons ase Agreowwt or this option to po hasre
S raeted to wbiukWPAWISors Without the prier m gal or dant Of
the holder# of not Bess f/," is arg e"te, prijwip&l smount
of the bomb,, at thetime outstaadi ,, "idonced in the MwAr pr"
vim ilk Section 1401 ho"Of.
&MUM M. If at any time the City or wbite•aidders
shall est the Trustee Is cement to sjV proposedae +meat, char,*
Or nardificotioe, the Estee shall. at the oa soe of the re eetiat
party # vause not * of such proposed 0, 1 ill 1asst, echa%* or Wdifics-
tion to be published om tine ie a a paper of general circulation
Published in tete City of Little k, #Xkmsas. fteb notice
shall briefly 4*t forth the nature, of sch propos . Wit, Change
or modification and shall state that copies of the i st t +moi-
the since are an file In the priwipal office of the Estee
for ie P*ction bY ate► IStearested boadwider. Aw Trust" shall not,
however, be subjeat to any liability to agar beaftiolder by reason of
its failure to publish seek eotiae aW any sa+ab (allure, shell not
affect the valLdity of such amendmut, chaw or modification wban
T- �—ikl o7 poll
I — 41 IFw=rTlTTk1=� Irl-
ARTICLE XIV
MISCELLANEOUS
Sect_ior. 1.401. Any request, direction, objection or other
instrument required by this Indenture to be signed and executed by
the bondholders may be in any number of cc-icurrent writings of simi-
lar tenor and may be signed or executed by such bondholders in person
or by agent appointed in writing. Proof of the execution of any such
request, directions, objection or other instrument or of the writing
appointing any such agent and of the cwnership of bonds, if made in
the following manner, shall be sufficient for any of the purposes of
this Indenture, and shall be conclusive in favor of the Trustee with
regard to any action taken by it under such request or other instru-
ment, namely:
(a) The fact and date of the execution by any person of
any such writing may be proved by the certificate of any officer in
any jurisdiction who by law has power to take acknowledgments within
such jurisdiction that the person signing such writing acknowledged
before him the execution thereof, or by an affidavit of any witness
to such execution.
(b) The fact of the holding; by any person of bonds and/or
coupons transferable by delivery and the amounts and numbers of such
bonds, and the date of the holding of the same, may be proved by a
certificate executed by any trust company, bank or bankers, wherever
situated, stating that at the date thereof the party named therein
did exhibit to an officer of such trust company or bank or to such
banker, as the property of such party, the bonds and/or coupons
therein mentioned if such certificate shall be deemed by the Trustee
to be satisfactory. The Trustee may, in its discretion, require
evidence that such bonds have been deposited with a bank, bankers or
trust company, before taking any action based on such ownership.
For all purposes of the Indenture and of the proceedings
a
qW
for the enforcement thereof, such person shall be deemed to continue
to be the holder of such bond until the Trustee shall have received
notice in writing to the contrary.
Gect'1,) l 1402. With the exception of rights herein ex-
pressly conferred, nothing expressed or mentioned in or to be implied
from this lndd--znture, or the bonds issued hereunder, is intended or
shall be construed to give to any person or company other Lhan the
parties hereto, and the holders of the bods and coupons secured by
this Indenture, any legal or equitable right, remedy or claim under
or in respect to this Indenture or any covenants, conditions and pro-
visions herein contained; this Indenture and all of the covenants,
conditions and provisions hereof being intended to be and being for
the sole and exclusive benefit of the parties hereto and the holders
of the bonds and coupons hereby secured as herein provided.
Section 1403. If any provision of this Indenture shall be
held or deemed to be or shall, in fact, be inoperative or unenforce-
able as applied in any particular case in any jurisdiction or juris-
dictions or in all jurisdictions or in all cases because it conflicts
with any provisions or any constitution or statute or rule of public
policy, or for any other reason, such circumstances shall not have
the effect of rendering the provision in question inoperative or un-
enforceable in any other case or circumstance, or of rendering any
other provision or provisions herein contained invalid, inoperative,
or unenforceable to any extent whatever.
The invalidity of any one or more phrases, sentences, claus-
es or paragraphs in this Indenture contained shall not affect the re-
maining portions of this Indenture or any part thereof.
Section 1404. It shall be sufficient service of any notice,
request, complaint, demand or other paper on the City if the same
shall be duly mailed to the City by registered or certified mail
addressed to the Mayor of the City or to such
MA
EM
M
address as the City may from time to time file with the Trustee.
Section 1405. This Indenture may be simultaneously executed
in several counterparts, each of which shall be an original and all
of which shall constitute but one and the same instrument.
119 WITNESS , trbereCity of Saeay.%ka, Axbatraa bays
as med these presents to be steed In Its none and cif by its
and Its corporate owl to b* b rount o affirm and attested
by its Com, and to avi its ae eptanc a of the, trust bieroby
at+eat +d, 'Tbes first Matioual bmak In Little &mks Little Rock,
Avka as , be* a&used tires* presents to be signed in its now and
bsMif by its and Ito corporate areal to
be beexemato affixed &vW attested by Its ,
all as of t o day and year Brat obmm wzittsu*
CITY Of M ILJA * ARMNSAS
err
ATTEST:
(sUL)
THE rum X&TI
UTA A=, UTTSCK,
By
ATTEST:
(SISAL)
OR this d'' of , 19$x.,
fore NO* a t tsry ftbUc d*_% 00miss1000d, *011flod seed &ct i ,
within nerd tar t Mata and COUUty of asaid, Appeared is person
tyre with" WAMM sand
Mayor and Clwk,* raspect: voly, of th City of Bates illo t Argas,
a wasicipalLt r of the Mate of Arkomsas, to as persomally kmwn,
who stated that they vera deer tborixod is their resp tiv*
oepaeLti.as to execute tb* forWiag instvvwmt for and is the now
Of said =81101palitys and further stated and aelmmd that trey
had s meted and delivered said foregoing Instrumut for
the + + siadrerati , uses rrr,nd Purposes tyre *Lm mationed, axed set
forth,
IN TXSTUM WMMCW, I hmm hereunto est &W band
Official seal this � day of , 1961.
OR this ,,.� Uy of , 1961 a bet -
free UO# a Notes Public *Aly oaawwwrei*# p V a►lified MW aCtIft
wLtma &W fm the state a" qty atmesawid, appmwsd taw pram
the rw►id" aawd
and arespectively #
of TW First Nxti wawl Asuk 1» Little #Amk, Little Reek& Arkansas,
to Me POrOmally well kwmv two stated that dwy ,nwww a duly a►athmixed
is their r*spoetive a aMmIt wes to Ous"te the tweViniw uUmut
fOr MW In gees and behalf of 4&14 fir;9 and ttrdw stated and
as leder that dW Md so sem, t*d &Md de ivrrmd said
tor+t g uwwiwtrowawawtt ter the causl4am owa, uses and Purposes Grein
wmtieued sad set tbrtho
IN TISTIMM WHRUM , I have b eramto sot IW band and
official seal this �day of , 1961.
taa� i�wblt�.
Section 3. That the sale of the bonds to the purchaser
named in the recitals be, and the same is hereby, approved and
confirmed.
Section 4. That the Mayor and Clerk, for and on behalf
of the City be, and they are hereby, authorized and directed to do
any and all things necessary to effect the execution of the Trust
Indenture, its execution and acceptance by the Trustee, the per-
formance of all obligations of the City under and pursuant to the
Trust Indenture, the execution and delivery of the bonds and the
performance of all other acts of whatever nature necessary to effect
and carry out the authority conferred by this ordinance and by the
Trust Indenture. The Mayor and Clerk be, and they are hereby,
further authorized and directed for and on behalf of the City to
execute all papers, documents, certificates and other instruments
that may be required for the carrying out of the authority con-
ferred by this ordinance and the Trust Indenture, or to evidence
said authority and its exercise.
Section 5. That the Mayor and Clerk be, and they are
hereby, authorized and directed for and on behalf of the City to
accept an assignment by Independence County, Arkansas Industrial
Development Corporation of Independence County, Arkansas Industrial
Development Corporation's rights, title and interest and obligations
under and in that certain Lease dated the +h day of January,
1961, wherein Independence County, Arkansas Industrial Development
Corporation is Lessor and White -Rodgers Company, a Delaware cor-
poration, is Lessee and executed and acknowledged copies of which
Lease and Assignment are of record in the office of the Clerk and
to which reference is hereby made for a detailed statement of the
terms and conditions of the Lease and the covenants and obligations
of the parties thereunder. A copy of said Lease and a copy of the
said Assignment will be recorded in the office of the Circuit Clerk
and Ex Officio Recorder of Independence County, Arkansas. The Mayor
and Clerk be, and they are hereby, authorized and directed for and
on behalf of the City to do any and all things necessary to enforce
all rights of the City and to discharge all obligations of the City
under and pursuant to the said Lease, and the Mayor and Clerk be,
and they are hereby, further authorized and directed for and on
behalf of the City to execute all papers, documents, certificates
and other instruments that may be appropriate or necessary for the
carrying out of the authority conferred by this ordinance or to
evidence said authority and its exercise.
Section 6. That the Mayor and Clerk be, and they are
hereby, authorized and directed for and on behalf of the City to
accept an assignment by Independence County, Arkansas Industrial
Development Corporation of its rights, title and interest and obli-
gations
bli-gateons under and in that certain Agreement dated the day of
January, 1961, wherein Independence County, Arkansas Industrial
Development Corporation is party of the first part and White -Rodgers
Company is party of the second part, and executed and acknowledged
copies of which are of record in the office of the Clerk and to
which reference is hereby made for a detailed statement of the
terms and conditions of the said Agreement and the covenants and
obligations of the parties thereunder. That the Mayor and Clerk
be, and they are hereby, authorized and directed for and on behalf
of the City to do any and all things necessary to enforce all rights
of the City and to discharge all obligations of the City under and
pursuant to said Agreement, and the Mayor and Clerk be, and they
are hereby, further authorized and directed for and on behalf of
It
v.r
the City to execute all papers, documents, certificates and other
instruments that may be appropriate or necessary for the carrying
out of the authority conferred by this ordinance or to evidence
said authority and its exercise.
Section 7. That the provisions of this ordinance are
hereby declared to be separable and if any section, phrase or pro-
vision shall for any reason be declared to be invalid, such declara-
tion shall not affect the validity of the remainder of the sections,
phrases and provisions.
Section 8. That all ordinances, resolutions and parts
thereof in conflict herewith are hereby repealed to the extent of
such conflict.
Section 9. That there is hereby found and declared to be
an immediate need for the securing and developing of industry within
or near the City of Batesville, Arkansas in order to provide employ-
ment, alleviate unemployment and otherwise benefit the public health,
safety and welfare, and the issuance of the bonds authorized hereby
and the taking of the other action authorized herein are immediately
necessary in connection with the securing and developing of a sub-
stantial industry. It is, therefore, declared that an emergency
exists and this ordinance being necessary for the immediate preserva-
tion of the public health, safety and welfare shall be in force and
take effect immediately upon and after its passage.
PASSED:
APPROVED:
ATTEST:
City Clerk
(SEAL)
14ayor
j 11 1
I*
C E R T I F I C A T E
The undersigned, Clerk of Batesville, Arkansas, hereby
certifies that the foregoing pages numbered 1 to Jq_, inclusive,
are a true and compared copy of an ordinance passed at a A%C7
DSDvRIVj-p session of the Council of Batesville, Arkansas,
held at the regular meeting place of the Council in said City at
o'clock .m. on the ;:�% day of j}0 Y4441�
1961, and that said ordinance is of record in Ordinance Record Book
page ___ , now in my possession.
`
Given under my hand and seal this day of
1961.
(SEAL)
_%� _ i—
Cit Clerk