HomeMy WebLinkAbout693ORDINANCE NO. 6
AN ORDINANCE AUTHORIZING SUPPLEMENTAL AGREEMENT
BETWEEN THE CITY OF BATESVILLE) ARKANSAS AND
INDEPENDENCE COUNTY, ARKANSAS (IN THE FORM AND
WITH THE CONTENTS SET FORTH IN THIS ORDINANCE);
AUTHORIZING THE EXECUTION AND DELIVERY THEREOF;
AND PRESCRIBING OTHER MATTERS PERTAINING THERETO.
BE IT ORDAINED by the City Council of the City of Bates-
ville, Arkansas:
Section 1. That there be, and there is hereby, approved
a Supplemental Agreement in substantially the form and with sub-
stantially the contents hereafter set forth and the Mayor be,
and he is hereby, authorized and directed for and on behalf of
the City to execute and deliver said Supplemental Agreement.
The form and contents of the Supplemental Agreement shall be
substantially as follows:
EXCERPTS FROM MINUTES OF A MEETING OF THE
MATT 1'CITY COUNCIL HELD
Fgkojar,�r,26 , 19_
The City Cote?ri1 0f the City $
Arkansas met in raaujar ses^ion A4: its regular meeting
place in Battavil!§ , Arkansas at
o°clock p. .m. , on the 26th _ day of February �
19 63 ThQ folilowing were present: Mayor F. F. ,kid 9
City " Clark R- NtuXe ; and Aldermen
Lowell Kijigr. To ai t ZQt2W&rz, A- t!- But, C. L. ThCapfon,
Frank White. --Rx Crowell Hal SO ilaara And n-.- am _ Jr _
Absent: DQn _
The Mayor statel ': _^t cons i3erat ic*� s'-I{:uld be given to
an ordinance _author tir
a_#Up Igmntal a!9xl1ltilt iA&tW&&n tha cit"
This was a matter with �-hich the Cour.,71'1- fanl.liar and after a
discussion, Alderman tell 141er introduced an
ordinance entitled:
AN ORDINANCE AUTHORIZING SUPPLEMENTAL AGRZXKMIT
BSTtiN= TUB CITY OF DATESVILLE, ARl` NSAS, An
INDEPENDENCE COUNTY, ARKANSAS (IN THE POM AND
WITH THE CONTBUTS SRT FORTH IN THIS ORDINANCE0
AUTHORIZING THE EXECUTION AND DELIVERY THZRE Fi
AND PRESCRIBING OTHER MATTERS PXR'p[NING THERETO.
r
Page 2
and the City Cl&rk read the ordinance in full.
Alderman Lowe.l Killer , seconded by Alderman
Jewell Founder*
, moved that the rule requiring the
reading of an ordinance or resolution in full on three different
days be suspended and that the ordinance be placed on its second
reading. The Mayor put the question on the adoption of the motion
and the roll being called, the follow:Lng voted aye:
Lowell hiller, Jewell Paunderi, A. C. Burt,
-- C. L. Thompson, Frank mite,RaY Crowell, Malcom
and the following voted nay: mono
Thereupon the Mayor declared that at least two-thirds
of all members of the Council having voted in favor of the motion
to suspend the rule, the motion was carried and the rule suspended.
The ordinance was then read by the City Clerk .
Alderman Jewell. Pounders+
, seconded by Alderman
Lowell Killer then moved that the rule requiring
the reading of an ordinance in full on three different days be
further suspended and that the ordinance be placed on its third
reading. The Mayor put the question on the adoption of the
motion and the roll being called the following voted aye:
Lowell I lIer. Jewell Poundere, A. C. Sunt.
C. L. Thompson, Bank Whit*, Ray Crow* l l , Malcom
Moore and DWWOy Rowe. Jr.
and the following voted nay: Bane
The Mayor declared that at least two-thirds of all member,,
elected to the Council having voted in favor of the motion to
Page 3
suspend the rule, the motion was carried and the rule suspended.
The ordinance was then read by the City Clerk.
Alderman Lowell Miller , seconded by Alderman
Jewell pounders
moved that the ordinance be adapted. The
question was put by the Mayor on the adoption of the motion and
the roll being called, the following voted aye;
Lowell Miller, Jewell Pounders A. CO
Burt, C. L. Thorn son, Bank White, R
Crowell, Malcom Moore & Dewey Rowe, Jr.
and the following voted nay:
None
The Mayor thereupon declared the ordinance adopted and
signed the ordinance, which was attested by the City Clerk and im-
pressed with the seal of the City. The ordinance was given No.
+w+ng... 3
(Matters not relating to the above are omitted.)
There being no further business, the Council adjourned.
ATTEST:
_4
■ rr.rrrrwr.rrr�.`.r.�
City Clerk
C E R T I F I C A T E
The undersigned, C4.ty Clerk of Batesville
— s. P
Arkansas, hereby certifies that the foregoing pages numbered
1 to 3, inclusive, area t -,-,.,e and correct copy of excerpts of
the minutes of a meetin of the C- %cox cit of 8atesvillQ______,
Arkansas at a regular session held at the regular
meeting place of the Council in said City at 700 o'clock
-i.m., on the 26th day of _ February , 1963 .
GIVEN under my hand and seal this 26th I dray of
ftbruary , 19 63
ty C' 1
(SEAL)
SUPPLEMENTAL AGREEMENT
THIS SUPPLEMENTAL AGREEMENT made and entered into this
27th day of February, 1963 by and between the CITY OF BATESVILLE,
ARKANSAS (herein called "City") and INDEPENDENCE COUNTY, ARKANSAS
(herein called 01County"),
W I T N E S S E T H:
WHEREAS the County issued its General Obligation In-
dustrial Development Bonds dated March 1, 1960 under Amendment No.
49 to the Constitution of the State of Arkansas and the City issued
its Industrial Development Revenue Bonds dated March 1, 1960 under
the provisions of Act No. 9 of the First Extraordinary Session
of the Sixty -Second General Assembly of the State of Arkansas,
approved January 21, 1960, with the proceeds of both bond issues
being used to finance an industrial project being operated in the
City under and pursuant to the provisions of a Lease and Agreement
by and between the City and Batesville Rubber Company, which
Lease and Agreement is dated the 24th day of October, 1960 and
appears of record in the office of the Circuit Clerk and Ex Officio
Recorder of Independence County, Arkansas at Book 15, page 115; and
WHEREAS in connection with said industrial project the
City and the County entered into an Agreement dated the 24th day
of October, 1960, setting forth the various undertakings and
rights of the City and the County with reference to the financing,
construction and ownership of the industrial project and disposition
of revenues, including lease rentals, from the industrial project,
with a copy of said Agreement being on file in the office of the
City Clerk and a copy on file in the office of the County Clerk,
and to which reference is hereby made for a statement of the terms
Page 2
and provisions thereof; and
0
WHEREAS the County has determined that it would be in
the best interests of the County and the citizens and inhabitants
thereof, including those residing in the City, for the County to
refund as of March 1, 1963 all outstanding bonds of the General
Obligation Industrial Development Bond Issue of the County dated
March 12 1960 in that refunding bonds can be issued bearing lower
rates of interest than the outstanding March 1, 1960 bonds of the
County, and upon terms whereby the contract with the holders of
the refunding bonds will permit the release of not to exceed
72/100 of a mill of the special five mill tax being levied and
collected for the payment of the County's bonds in the event the
County issues additional bonds under Amendment No. 49 for the
purpose of securing and developing additional industry within the
County, which will inure to the benefit of the City and its
citizens and inhabitants; and
WHEREAS the terms and provisions of the proposed re-
funding by the County are embodied in an order of the County
Court entitled "Order Authorizing Issuance, Execution and Delivery
of General Obligation Industrial Development refunding Bonds and
Matters Relating Thereto" (herein referred to as the iPRefunding
Order"), which is to be entered by the County Court on the 27th
day of February, 1963 and which on and after that date will be on
file in the office of the County Clerk, and a copy of said Order
has been presented to and examined by the City Council of the
City at the meeting at which this Agreement is approved and the
execution thereof authorized; and
WHEREAS it is proposed that the City approve the proposed
i..
Page 3
la
refunding by the County and the purpose of this Supplemental Agree-
ment is to state the approval of the City;
NOW, THEREFORE, in consideration of the benefits to be
derived by the County and the City and the citizens and inhabitants
thereof by the proposed refunding and for other valuable con-
siderations, receipt of which is hereby acknowledged by each party
hereto, the CITY AND THE COUNTY AGREE AS FOLLOWS:
1.
The City hereby expressly approves the refunding of all
of the outstanding bonds of the County designated "Independence
County, Arkansas General Obligation Industrial Development Bonds"
dated March 1, 1960, upon the terms and conditions set forth in
the Refunding Order.
2.
It is agreed that all rights,obligations, covenants, agree-
ments and undertakings of the City and County in all documents and
agreements pertaining to the financing, construction, operation,
ownership and disposition of the industrial project and in the
handling, securing, disbursing and ownership of revenues and
lease rentals from the industrial project shall be applicable to
the "Independence County, Arkansas General Obligation Industrial
Development Refunding Bonds" dated March 1, 1963, to the same
extent and with the same force and effect as they were applicable
to the "Independence County, Arkansas General Obligation Industrial
Development Bonds" dated March 1, 1960.
3.
This Supplemental Agreement shall supplement the
Agreement heretofore entered into by and between the City and
Page 4
the County dated October 24, 1960 and, except only to the extent
modified and supplemented by this Supplemental Agreement, the
said October 24, 1960 Agreement and all other agreements and
undertakings of the City and County with reference to said in-
dustrial project and the revenues therefrom, as aforesaid, shall
continue in full force and effect.
EXECUTED this 27th day of February, 1963.
CITY OF BATESVILLE, ARKANSAS
/1
f
B
Mayor
INDEPENDENCE COUNTY, ARKANSAS
By 4 yz
County Judge
NW
Page 5
ACKNOWLEDGMENT
STATE OF ARKANSAS )
COUNTY OF INDEPENDENCE )
On this 27th day of February, 1963, before me,
a Notary Public duly commissioned, qualified and acting, within and
for the State and County aforesaid, appeared in person the within
named Fay Lindsey, Mayor of the City of Batesville, Arkansas, to me
personally well known, who stated that he was duly authorized in his
capacity as Mayor to execute the foregoing instrument for and in
the name and behalf of said City, and further stated and acknowledged
that he had so signed, executed and delivered said foregoing instru-
ment for the consideration, uses and purposes therein mentioned and
set forth.
IN TESTIMONY WHEREOF, I have hereunto set my hand and
official seal this 27th day of February, 1963.
Notary Public
My commission expires:
,9-- ,t, 6 3
low
Page 6
ACKNOWLEDGMENT
STATE OF ARKANSAS )
COUNTY OF INDEPENDENCE )
NOW
On this 27th day of February, 1963, before me,
a Notary Public duly commissioned, qualified and acting, within and
for the State and County aforesaid, appeared in person the within
named William Wood, County Judge for the County of Independence,
Arkansas, to me personally well known, who stated that he was duly
authorized in his capacity as County Judge to execute the foregoing
instrument for and in the name and behalf of said County, and further
stated and acknowledged that he had so signed, executed and delivered
said foregoing instrument for the consideration, uses and purposes
therein mentioned and set forth.
IN TESTIMONY WHEREOF, I have hereunto set my hand and
official seal this 27th day of February, 1963.
Notary Public
My commission expires:
S- i � G 3
Section 2. That the Mayor be, and he is hereby,
authorized and directed for and on behalf of the City, after
he executes and acknowledges the Supplemental Agreement, to
cause the same to be executed and acknowledged by the County Judge
of Independence County, Arkansas and to cause an executed copy of
the Supplemental Agreement to be filed in the office of the City
Clerk.
PASSED this 26th day of February, 1963.
ATTEST:
City Clerk
(SEAL)
APPROVED:
,7'
;
Mayor