HomeMy WebLinkAbout1994-07-02-R RESOLUTION NO.
• A RESOLUTION APPROVING THE ISSUANCE OF
REVENUE BONDS,SERIES 1994,BY THE INDEPENDENCE
COUNTY, ARKANSAS PUBLIC HEALTH, EDUCATION
AND HOUSING 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 and Capital
Improvement Revenue Bonds (Lyon College Project), Series 1994, in principal amount not to
exceed $6,000,000 (the 'Bonds"), by the Independence County, Arkansas Public Health,
Education and Housing 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 11, 1994; 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
$6,000,000 for the purposes of refunding existing indebtedness and financing capital
improvements at Lyon College, formerly known as 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 and the Revenue Bond Act of
1987 [Arkansas Code Annotated Sections 19-9-601 to -607 (1994)].
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 26th day of July, 1
3,�
Mayor
ATTEST:
City Clerk
(SEAL)
1
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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 7:00 p.m., on July 26, 1994.
Dated: July 26, 1994.
City Clerk
(SEAL)
(W
RBBO1 I A3/42
RLF060794