HomeMy WebLinkAbout1991-10-01-R RESOLUTION NO. r
A RESOLUTION AUTHORIZING THE OFFERING OF
REFUNDING AND IMPROVEMENT WATER AND SEWER
REVENUE BONDS; AND FOR OTHER PURPOSES.
WHEREAS, it is appropriate that the City of Batesville,
Arkansas proceed with the offering and sale of its Water and Sewer
Refunding and Improvement Revenue Bonds (the "Bonds") for the
purpose of financing necessary improvements to the City's Water
System (the "Improvements") and the refunding, with other available
funds, of the City's outstanding Water and Sewer Refunding Revenue
Bonds dated August, 1976 and Water and Sewer Revenue Bonds, dated
May 1, 1978.
WHEREAS, the firm of T.J. Raney & Sons has been engaged
to serve as underwriter for the Bonds and the law firm of Friday,
Eldredge & Clark has been engaged to represent the City as bond
counsel in the issuance of the Bonds; and
WHEREAS, the Batesville Utilities Commission has
recommended that the Improvements be completed and that the Bonds
be offered;
NOW THEREFORE, BE IT RESOLVED by the City Council of the
City of Batesville, Arkansas:
Section 1. The offering of the Bonds is hereby
authorized. The bonds may be offered, in the total principal
amount not to exceed $6, 500, 000, at one time or in series from time
to time.
Section 2 . The Mayor and the Batesville Utilities
Commission are authorized to cooperate with T. J. Raney & Sons in
the preparation of a preliminary official statement and in
executing such writing and taking such actions as may be
appropriate to the offering of the Bonds or any portion thereof.
Friday, Eldredge & Clark is likewise authorized to cooperate and
assist in the offering of the Bonds and matters related thereto.
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 . All resolutions and parts thereof in conflict
herewith are hereby repealed to the extent of such conflict.
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Section 4. This Resolution is in force upon its adoption
and approval.
Adopted: October 18, 1991.
Mayor
ATTEST:
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City Clerk
(SEAL)
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CERTIFICATE
The undersigned, City Clerk of the City of Batesville,
Arkansas, hereby certifies that the foregoing pages are a true and
perfect copy of Resolution No.(/— L—,/ , adopted at a session
of the City Council of the City of Batesville, Arkansas, held at
the regijlar meeting place in said City at o'clock /''.m. , on
the day of Q� �e, 1991, and that the Resolution is of record
in Book No. Page now in my possession.
L GIVEN under by hand and seal on this day of
4)GG hrt , 19 91.
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City Clerk
(SEAL)