HomeMy WebLinkAbout2022-10-01-R RESOLUTION NO. 2022 ja-0/—g
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CITY OF BATESVILLE, ARKANSAS
A RESOLUTION AUTHORIZING THE MAYOR TO ENTER INTO A MORTGAGE ON
BEHALF OF THE BATESVILLE REGIONAL AIRPORT
WHEREAS,the Batesville Aviation Commission has determined that the Batesville
Regional Airport is in need of more hanger space;
WHEREAS, that in order to facilitate the construction of more hanger space, the
Batesville Aviation Commission has negotiated a twenty-year mortgage with First Community
Bank in the amount of$372,000;
WHEREAS, that said monies shall be repaid through the rental of said hanger space; and
WHEREAS,the City of Batesville owns said grounds where the hanger will be
constructed, and therefore the authorization of the Mayor is required.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Batesville,
Arkansas:
Section 1: The Mayor of the City of Batesville is hereby authorized to execute any
and all documents necessary to effectuate the mortgage as described herein.
ADOPTED THIS DAY OF , 2022.
APPROVED:
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RICK ELUMBAUGH, MAYOR
ATTEST:
ENISE JOHNSTON, CIVf CLERK