HomeMy WebLinkAbout2003-11-01-R CITY OF BATESVILLE,ARKANSAS p
�Ir RESOLUTION NO.
A RESOLUTION APPROVING THE ISSUANCE BY THE CITY OF
BATESVILLE, ARKANSAS PUBLIC FACILITIES BOARD OF NOT TO
EXCEED $15,000,000 IN AGGREGATE PRINCIPAL AMOUNT OF CAPITAL
IMPROVEMENT REVENUE BONDS (WHITE RIVER MEDICAL CENTER
PROJECT).
WHEREAS, a public hearing has been held before the City Council of the City of
Batesville, Arkansas, on this date regarding the issuance of not to exceed $15,000,000 principal
amount of revenue bonds by the City of Batesville, Arkansas Public Facilities Board following
the publication of notice of public hearing in the Arkansas Democrat-Gazette, a newspaper of
general circulation in the City, on October 27, 2003; and
WHEREAS, the City Council of the City has determined that the public purposes for
which the Bonds are to be issued serve a proper need;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Batesville, Arkansas, that:
Section 1. The issuance of Capital Improvement Revenue Bonds (White River Medical
Center Project) by the City of Batesville, Arkansas Public Facilities Board in the principal
amount not to exceed $15,000,000 for the purpose of acquiring, construction, and equipping
capital improvements to White River Medical Center, 1710 Harrison Street, Batesville, AR
72501, consisting generally of a women's center, diagnostic equipment, and a paperless medical
records system, all owned and operated by White River Health System, Inc. or its affiliates, is
hereby authorized within the meaning of Section 147(f) of the Internal Revenue Code of 1986, as
amended, and the Revenue Bond Act of 1987, Arkansas Code Annotated §§ 19-9-601 to -607
(1998 Repl.).
Section 2. This Resolution is adopted solely for the purpose of complying with the
provisions of the Internal Revenue Code and the Revenue Bond Act and that by the adoption of
this Resolution, the City has not assumed any direct or indirect financial responsibility for the
payment of the bonds.
Section 3. This Resolution shall be in full force and effect from and after its adoption.
Passed this 10th day of November, 2003.
ATLT* oe M. Biard, Mayor Biard
AT ST:
Denise M. Johnston, Citf Clerk