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CITY OF BATESVILLE,ARKANSAS ORDINANCE NO.47 AN ORDINANCE CREATING A PUBLIC FACILITIES BOARD; PRESCRIBING OTHER MATTERS RELATING THERETO; AND DECLARING AN EMERGENCY BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF BATESVILLE, ARKANSAS,that: Section 1. In accordance with and pursuant to the authority conferred by the Public Facilities Boards Act, Ark. Code Ann (1998 Repl. & 2003 Supp.) §§ 14-137-101 to —123, there is hereby created and established a public facilities board (hereinafter referred to as the "Board") with authority as hereinafter provided to deal in or dispose of the facilities identified in the Public Facilities Boards Act. Section 2. The name of the Board shall be "City of Batesville, Arkansas Public Facilities Board". Section 3. The initial members of the Board shall be appointed by the Mayor pursuant to Ark. Code Ann. (Supp. 2003) § 14-137-108. Each member shall take and file with the City Clerk • the Oath of Office prescribed by the Public Facilities Boards Act. Section 4. The Board is empowered, from time to time, to own, acquire, construct, reconstruct, extend, equip, improve, operate, maintain, sell, lease, contract concerning, or otherwise deal in or dispose of health care facilities, emergency medical health care facilities, residential housing facilities, off-street parking facilities, recreational and tourist facilities, waterworks facilities, sewer facilities, facilities for securing or developing industry, energy facilities, hydroelectric power projects, education facilities, other capital improvement facilities, or any combination of such facilities, as such facilities are defined in the Public Facilities Boards Act, or any interest in such facilities including, without limitation, leasehold interests in and mortgages on such facilities. Section 5. The Board is authorized to issue revenue bonds from time to time and to use the proceeds, either alone or together with other available funds and revenues, to accomplish the purposes for which the Board is created. Such revenue bonds shall be obligations only of the Board and shall not constitute an indebtedness for which the faith and credit of the City or any of its revenues are pledged, and the principal of and interest on the bonds shall be payable from and secured by a pledge of revenues, obligations, and other funds or sources of funds as authorized by and in accordance with the provisions of the Public Facilities Boards Act. Section 6. The Board shall have all the powers provided in the Public Facilities Boards Act, subject to the provisions of this Ordinance, and shall carry out its duties in accordance with the Public Facilities Boards Act, including specifically, without limitation, the filing of the annual Oreport required by Ark. Code Ann. (Repl. 1998) § 14-137-123. 1