HomeMy WebLinkAbout1990-08-01-R RESOLUTION NO. C'
A RESOLUTION APPROVING THE ISSUANCE OF REFUNDING
REVENUE BONDS, SERIES 1990, BY THE INDEPENDENCE
COUNTY, ARKANSAS PUBLIC HEALTH AND EDUCATION
FACILITIES BOARD; AND PRESCRIBING OTHER MATTERS
RELATING THERETO.
WHEREAS, a public hearing has been held before the City
Council of the City of Batesville, Arkansas (the "City" ) , on
this date regarding the issuance of Refunding Revenue Bonds
(Arkansas College Project) , Series 1990, in principal amount not
to exceed $2, 600, 000 (the "Bonds " ) , by the Independence County,
Arkansas Public Health and Education Facilities Board (the
"Board" ) following the publication of notice of the public
hearing (which notice contained a general description of the
purpose or purposes for which the Bonds are to be issued, the
principal amount thereof, and the date, time, and place of such
public hearing) in the Batesville Guard, a newspaper of
general circulation in the City, on July 30, 1990; 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 :
Section 1 . That the issuance of the Bonds by the Board in
principal amount not to exceed $2 ,600,000 for the purpose of
refunding the Board ' s Capital Improvement Revenue Bonds
(Arkansas College Project) , Series 1985 (the "Series 1985
Bonds" ) , originally issued for the purpose of financing capital
improvements at Arkansas College, an independent four-year
college located at 2300 Highland Road in the City, is hereby
authorized within the meaning of Section 147 ( f) of the Internal
Revenue Code of 1986 , as amended.
Section 2 . That this Resolution is adopted solely for the
purpose of complying with the provisions of the Internal Revenue
Code 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 . That this Resolution shall be in full force and
effect from and after its adoption.
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Section 4 . That the provisions of this Resolution are
hereby declared to be separable and if any provisions shall for
any reason be held illegal or invalid, such holdings shall not
affect the validity of the remainder of this Resolution.
Passed and approved this 14th day of August, 1990 .
Mayor
ATTEST:
City Clerk
(S E A L)
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0716Y
CERTIFICATE
The undersigned, City Clerk of the City of Batesville,
Arkansas, hereby certifies that the foregoing is a true and
perfect copy of a Resolution adopted at a meeting of the City
Council of the City of Batesville, Arkansas, held at the City
Hall in said City at Z:CC p.m. , on August 14, 1990 .
Dated: August 14, 1990
City Clerk
(S E A L)
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0716Y