HomeMy WebLinkAbout1992-07-01-R DRAFT 7/6/92
RESOLUTION NO. 111A
A RESOLUTION APPROVING THE ISSUANCE OF REVENUE
BONDS, SERIES 1992 , 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 Revenue Bonds (Arkansas College
Project) , Series 1992 , in principal amount not to exceed $4 , 000 , 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 June 29 , 1992 ; 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 $4 , 000 , 000 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.
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 July,. 1992 .
�yor
ATTEST:
City Clerk
(S E A L)
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 ').,Q) p.m. , on July 14 , 1992 .
Dated: July 14 , 1992 .
,0
City Clerk
(S E A L)
2- R88006A3.05
070692