HomeMy WebLinkAbout1991-04-02-R 1
RESOLUTION NO. 91-4-2
A RESOLUTION AUTHORIZING THE MAYOR AND CITY CLERK TO ENTER INTO AN AGREE-
MENT WITH INDEPENDENCE COUNTY FOR IMPROVEMENTS TO THE WATER SYSTEM AND FOR
OTHER PURPOSES.
WHEREAS, The City is the County seat of the County, the largest munici-
pality in the county and located in the central portion of the County; and
WHEREAS, the City operates its waterworks system (the "System") , which
provides treated water to approximately 21,632 consumers, approximately 12,445
of whom live outside the City, or connect to the System at points outside the
'City; and
WHEREAS, Recent proposed improvements to the System have made necessary
increases in the rates charged for services of the System, and the necessity
for further improvements, including new treatment facilities (the "Improve-
ments") , will result in further rate increases if such Improvements are financed
on the basis of System revenues; and
• WHEREAS, The construction of the Improvements is essential to the continu-
ed provision of treated water to consumers who rely upon the System, both with-
in and without the City, ; and
WHEREAS, The County and the City desire to avoid or minimize further rate
increases for the System, for comsumers within and without the City, and if
possible, to reduce System rates.
BE IT THEREFORE RESOLVED: That the City will ask the County to propose to
, the electors of the County the issuance of the County' s bonds, under Arkansas
code of 1987 Annotated, Title 14, Chapter 164, Subchapter 3, secured by a
pledge of the collections of a County sales and use tax levied at the rate of
of 1% per annum, for the purpose of financing the construction of the Improve-
ments.
Subject to approval by the electors of the County, and to favorable econo-
mic conditions, the County would sell and issue the Bonds and apply the proceeds
to the construction of the Improvements, under the control of the City and the
officials charged with management of the System., appropriate
IThe City agrees to own and operate and maintain the Improvements, as a part
of the System, to operate the System for the use and benefit of the consumers
who rely upon it, both within and without the City, and to charge rates for the
The Batesville Utilities Commission shall serve as administrator of the
plan.
CITY 4F" BATESVILf , ARSAS
ATTEST: BY:' 7" 4
- J ES F. BA NETT, MAYOR
DENI E M. JOHNSTON, CLERK
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