HomeMy WebLinkAbout2001-02-02-R • •
RESOLUTION NO.400 J-4_a
• RESOLUTION AUTHORIZING THE SALE OF BONDS TO
REFUND THE CITY'S OUTSTANDING WATER AND
SEWER REVENUE BONDS, SERIES 1995; AND
PRESCRIBING OTHER MATTERS PERTAINING
THERETO.
WHEREAS, current bond market conditions make it possible to achieve significant
savings by refunding the outstanding City of Batesville, Arkansas Water and Sewer Refunding
Revenue Bonds, Series 1995 (the "Prior Bonds"); and
WHEREAS, it is appropriate that the City proceed with the offering and sale of its
Water and Sewer Refunding Revenue Bonds, Series 2001 (the "Bonds")for the purpose of refunding
the Prior Bonds; and
WHEREAS, Crews &Associates, Inc. has presented information to the City about
the opportunity to refund the Prior Bonds and such firm should, as recommended by the Batesville
Water Commission, be authorized to serve as the underwriter for the refunding;
NOW THEREFORE, BE IT RESOLVED by the City Council of the City of
• Batesville, Arkansas:
Section.1. That the offering of the Bonds is hereby authorized. The Bonds may be
offered in a total principal amount of not to exceed the amount required,with other available funds,
to accomplish the refunding.
Section 2. The Mayor,the Batesville Water Commission and other City officials are
authorized to cooperate with Crews &Associates, Inc. in the preparation of a Preliminary Official
Statement and in executing such writings and taking such actions as may be appropriate to the
offering of the Bonds or any portion thereof.
As issuance of the Bonds is, under Arkansas law, subject to approval of the City
Council,by ordinance, any sale of the Bonds will be subject to approval of the City Council.
Section 3. That the Council hereby engages Crews & Associates, Inc., to act as
managing underwriter for the proposed Bonds.
Section 4. That the authority given herein shall expire in 180 days.
Section 5. That all resolutions and parts thereof in conflict herewith are hereby
repealed to the extent of such conflict.
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• THIS RESOLUTION shall be in full force and effect from and after its adoption and
approval.
PASSED AND ADOPTED this ��day of F , 2001.
ATTEST: Mayor
z.�
City Clerk
(SEAL)
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• CERTIFICATE
The undersigned, City Clerk of Batesville, Arkansas, hereby certifies that the
foregoing pages are a true and correct copy of a Resolution passed at a meeting of the
City Council of Batesville, Arksas held at the regular meeting place of tKe in the City at
S: 3o P.M. on the day of�' 200a.
City Clerk
(SEAL)
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