HomeMy WebLinkAboutOrdinance 1656 '(e�pMtve .idib aaeiBYtis b 1raR
(I It III A\CE No. IM —�w . rl<n •�) wNh ,
AN nN I IIS.\.Nr}: AUTHORIyd NO . A ,dTlla
n>M'i. 1, Ir -v i .st' RFF%iP:FN 1'liE I'll
PTCI UD +Rl\\l:A w Q r."
I'Il$MY t$ .\.' N d olid
I ; .,, ^-PATE of ARKANSAS 1 as.
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:'111 d.1 Tf1E -i'i{ NMK
1 ]]M'1.1L1.r ! Di+ermt dee County of Washington
FOPiH 7777ii A YxbE .ART' tel' et thn,tlm ood
H ' ORDIN a ORITJNO' haat
H6 E N y t"CRY agnN 396E (/�l
F :.\ID �: �Rece art sjol refill ad �
O Ht.r: W1 RELATIMc Ira- Bonaa.,o rcilanq. Tommi I _-_-. __- `yllll—.lt[1�_ --_ .__ __ - - ________ , hereby certify that I
1 \ SU DECLARING "Ajit - By of the bite I 11P8 i" m the Cener Ma a er of E NORTHWEST ARKANSAS TIMES,
iI
GI - '. >; %Or, aM MYrnence aped- ( r 9 1
iiEl. rr f9:n\ Is4:n In me.,$Mrn Of IR: a�(� and In reliance men •t daily newspaper having a second class mailing privilege, and being not
If the fry nr F:r rRn illn, ' KIN IYe ^r the tint, land the shut
lit -,;, a rrnam « the other rings m mi 'ss than four pages of five columns each, published at a fixed place of
urn 1. 11
Ib+t iMre he an{ p list
y th,, ' 'usiness and at a fixed (daily) intervals continuously in the City of
h , authnnped the <><rutinn''.Xd1M., aunntranb' ant herw<e nowror" pa nFayetteville, County of Washington, Arkansas for more than a period
lr' ser nrleAAn.. rIOf11Ytaunder if twelve months, circulated and distributed from an established place of
end beaver on v Dlrr'rt or RN1ib- WINla" �n .nn waehinftnn rvrumma, And he aha rite rosiness to subscribers and readers generally of all classes in the City
"` xvh'4nue0c °1e h"„"' °"d andeSc Count for a definite rice for each co<!i,tamiaay ma content. n nrwnrr ,� , .n,e •INeplmrenteaY P Py. or a fixed price per annum,
,etfi rth. and the Blain? and x> dart hertby, sh.ah rtfol "nit which price was fixed at what is considered the value of the publication,
m end Ihe\' en hrmlp , 1vlM1"Iryed to Rett ' �ay�y, Nrrha, the
r\N r, artnont and deliver .said Trurtw�bld the holders or sit or the based upon the news value and service value it contains, that at least fifty
it act for and CO beha}f 'of the 'cur' mdsull r l da a the District Ito- 3ercent of the subscribers thereto have aid cash for their subscriptions
'nr torn And raknts dI'dhe 6anl rbn clud!nf the f thl-A" Bens) P P
I a,'1. whorl n nb, In noted and Nell i. Wild nine henaht d as to the newspaper or its agents or through recognized news dealers over a
it n re Il de art atlall be i n tpas the,'eer' :Mod all oats there-
^ - wc , I, net. mrmmnn ntluriy .qa with- period of at least six months ; and that the said newspaper publishers an
ur,IrRAL T ort nnduaon, title f�Kutil.of The City average of more than forty percent news matter.
IMI `V %TPA0r a apefll hig that lir neawnaE�Ya lie nts
RI , and Ira mat17 as to l payable°e n thef date I smenaaee I further certify that the legal notice hereto attached in the matter of
i � r or Renton and Witsh,nrtar wdhout 11i nr demand or wl tl
AIUa 'a\ ithe "DiNtild 'i : abate.^trot nr st and l thirdless oft
wTrNESSETH: - an.. rornnmo r
ngencies nial, and not- ' ,
WHEREAT the Dlsu{t't withstanding any clrNmsmnxe or co- /� 1 //,r I,.,
hove heretarore asset into OuggenreN that my now exist or that . . . ------------
!___-Y!----—___.-_--__________-___—
datad January 16. UW ( 166 hereafter an" or tate mice.
trot"), +psotWinn Y ua V to IN wrrNESS \t'HEREOF, the City has
M rope the >D41t1� tm+ t}antied m I>` sianad in its was published in the regular daily issue of said newspaper for
which: r and a iLv Mhe!t s its Mayor
specified _ corpor+te seal to he herell as consecutive insertions as follows:
Into attestlot W =used t*
Oftt* Cfart "nto
hien In tta 'iurrra elmaa i f ' -- __ - 6
mn m ealllhm. Chat fta�x� M The first insertion on theQ-.______-_- day of X,1:1-r---___- 19___1
an •mired and a tf~11e aaol
dad BMW b
Bowie iM41d u .ae�teb te'o- - -- - the second insertion on the ._____ _____________. day of --- _------------ ---- 19—__.-
tar em
am gm
am tlYl2MOAMMlodr
ae`e°s Baa., cedes A. the third insertion on the _----___---- day of ----------------------- 19_—_.__
d wtoomllrIweed iu the
d Om (with
ssrv' oat- -- ---- da of -- -------------._ lie_-_--..
dab d Qavuon and the fourth insertion on the _. ._.___ `----
h : >
Wy4 a wfs is ove-
t 1•tpnvr-
ra --�–
would
�taa�m ed
aaatr.d wrls�uto athose Sworn to and subscribed before me on this ----------- day of
a.Blel.d u e ut the nytr!ft
to ter ua poymat Of all al.
bees YII
Y" DiW vow On ----- ____-____._ ---- _ 19- /-
�Y aaI aaaction pro-
o0sgg*elen
a/rn pro
Fara
Gros AMaaOa } prinetpel -- /j/r
74
�lOater IAai'wtprwemml _- -.-__ �CG _,
d Ifs, Itomm• ____- -.__
ow rale No y Public
bW Interest��ae . ;omtmeapinf
# r WW ma- My Commission Expires :
BOaam • . •'1968
lf" pita
bond _ ------ - /- ------
�9
q
'tRa, ,trod.
.. . glib S8 • S9
soh Fees for Printing
r e
Wate
'And Cost of Proof _ ------ $----_---____-_----.___
Ar-
(u Total
l$ of
lot
�:Mt
(at CAM V 14m)
haw soupy Imo • a At vn-
anrlWpf am Caroted - gmstruct.
MintaaaM, gIrai,A and sn-
sian Balear Walt
arealaa In i ^ 1847 I
mens"): �d the
spay a this
of the eransi r re u{ Bisuta lm aIn
the pmce d lfrrae{saamselasteranes
n mita thereto for Ne "n }e Weir
ms
terand provident: and '
WHEREAS Me Cantrod Is eadon
ria a> a supplement n Ne 196: bntMol
sod S we, of indemenlation Of the pre
violent of the 1967 A94Iareent for Me
Mnafd of We Parties hereto and for the
Tmste t and the Mbers a Ne 1969 - -
Monde to insure adequate revenues for rotary, all as or the 44111 day ht FW
payment of Ne principal M and bile t Diary, 1969.
on the 1969 Bonds in acrnrdmtt with CITY OF FAYEITEVII.I.E
the provisions thereof and In accord. By C. O. Melon Jr.. Mayor
ance with liveornmel Indenture. as sup ATTEST': Aleridn Moore. City Cert
plemented by a Flint Supplemental Trust (SEAL)
Indenture dated as of Demmmr 1. Die. BEAVER WATER DI NGM OF
AOUNTI AND WAfYffNCTON
screening Isng Me details pertaining to Into By Chair
I?96 Weir
b and Ne nature and enfant U: e.Tacrela
m their seta nus, ore h First Or
ATTEF(SEMA : ficrclarv,
mental Tryst the
he hon ec will 15EAld
be pe fi the dMe C hereof Clerks
and TRUbT'to t APPROVAL
E Ne Offices c Ne Circuit Clerks end Inerrant(2)t to I provisions M Part-
Ex Owston Corortlen of Benton and {rape hereby
of the 196b and approves
N• Me
ex ehitedc (burettes, Arkwill end sol lee hereby nd data b ant heforNe
executed rapt eY which illi 4 on tele execution end tlntvery Of ire brc{oinj
In the office of the Secretary of the
Supplemental NATIO .
District and in We office of the Tender; FIRST NATIONAL RANK
NOW, TBEREFirt in mnslderatiod FAYEITEVIII.E, ARKANSAS
TRU91•EE
of Me mutual benefits heretofore do-
By
raved and this
M hereafter derived W, the Serlioe. 2. That Ne Mayor and aCity
uthor.
Out Il b Nb Contract insuring
of
wills Clerk and
and eM1ey arc hereby. author
out Iitwater s Me Msuthe it an nets jird antl r do all for and on behalf nof
iquatenhabitants
asset supply b Me City and its the City M an all ner"an, execute all Ion
inhand safety
ty and for Ne public nevmenb and oNerwbe n k all action
other , safety end cable co and on, necessary to Me realization of the City's
Cheer coed and valuable hereby
teatime-
stilus and u er discharge of the Clb'a
Me receipt or xhlM is M1erMy seknaw� oblerum s under tM Coronet.
lodged by the partaes nitrate, the City Secalen 3. her Ne provisions to m s t
and the Mai l agree as follows: arable "ce arc any
se declared phrase
to M tet
III In addition b We payments spite- •none me It any wcMas n. M declared Dro '
stied in Me 1969 Contract. Ne Cltv shall to W atoll. for any pawn. M hot not
to M theUla, elute declaration Noll Dat ''.
pare N• District erltly fro mrevenues affect the sections, phras of Me est". e[ of
derived yste Ne •peg th of an to s Ne tion4. That
all
rd Dances;".
utility antero Irvin{ the municipally Section 1. swI all o flict hes and parts
owned and operated utility tconsika of ordinancesreat In conflict tet nM are
which in an case n Fayetteville in connate hereby [spatted to the extent of each
of water and sewer facilities, is the rete wSecti .
or Bentonville consists of water and Rection S. 'Mat Men ie hereby (head
electric fxcllitles, In the rase of Rogers and the ared
n of an immediate rated
rendsU of water facilities; and in the for the securing or In oder to water
case of Speingdtle mnsisb of water fit- the a or a City In order a insure
Ne adequate and welt of fee Woke
forlie0, the amounts g on the dates set and I Hnha and wand of We City
ford+ in ire following schedule:ateOf and Its delivery
Of Inhabitants, and lM execution
9e$24 Annual Payment Date o[ Payment ' and aellvery of the Contract aherefPd
24 ,189 May 15, 1969 It this refire, d 1l essential therefor.
%,IN NovemberMai
15. 1970 It is therefore, declared Nal an erose
24,196 Moly 15, 1970henry "Isle and this ate tt brie{
24,196 NOvemDer lS, 1910 ' hatchets" for the immediate pwel-
24,196 May 13, 1.91 tarn Of Int public health, safety endnd web
^_4196 November la, 19711 tare shall
htly be In [and and Mkt effect ion.
^_4,196 May 15. 1972 mediately upon end atter its passage.
?4,1116 November 15, 1972 • PAeeED: February U. 1100
APPROVED:
TDr some ithe tress payments and elm- C. C. Melton. Jr., Mayor
Isar Nymenis nein{ made by N! other '' ATTEFD: Marilyn Moore,
City Clem
citi"do sods vvilfor he h isuDistrict
tide b n I 14 ji
when
Nada for Wer
DIS Bo d pr the one ',
wren due m the 1999 Bonita for of the
Drc by ands period from Ne date of ler
thea Bonds (Derember 1, 1997 until '
their maators rDeto M e1. solely
and .
the Datrict f are to ur used soled' by ;
the the above
for that purpose. In bednirtil
-
to ire above payments 10 well be nM
swab' M provide for the payment of
' fees c the with
tee and Paying Agent in
connection wIM the 1969 emee and the
true es its Wt upon demand by the
TrudMe It well heither to the Beatrice
Or directly 1p the
Tmsun rata rot rent
of surra fees (with the variedn it arms.Nal
Me pe ntam may ht as arr it itand
sae, th round oft involved
amounts among it dna
to e, M dIt all
of the
an that Nr total
b M paid sic all of the chiles Involved
Pal equal the felt rt( MatTNeIN and
Pay 2l City
(n T11e ph and We Ds will under.
eland Nat pamher an renes will . Us-
extent
anN on the
pier ed December
Of 1, Prue
and Wt Ne rapormd amount of Ne pro
usedM y i pa all of bonds will M
used R pay' in full all io Me outstandingaMr.
man Apnea is he On'
with Ne per
mane, bonds IDs OIC and the Pinnal
will a Luteancovenant and agrCt that all
f, i g revue and (from a contract spec-
h'InR My"mento (from NP Ol1MIlOn Of
ORDINANCE NO . ...ZL- �P
AN ORDINANCE AUTHORIZING A CONTRACT BY
AND BETWEEN THE CITY AND BEAVER WATER
DISTRICT OF BENTON AND WASHINGTON COUNTIES ,
ARKANSAS IN SUBSTANTIALLY THE FORM AND WITH
SUBSTANTIALLY THE CONTENTS SET FORTH IN AND
MADE A PART OF THIS ORDINANCE ; AUTHORIZING
THE EXECUTION AND DELIVERY OF SAID CONTRACT;
PRESCRIBING OTHER MATTERS RELATING THERETO :
AND DECLARING AN EMERGENCY .
BE IT ORDAINED by the Board of Directors of the City of Fayetteville ,
Arkansas :
Section I . That there be , and there is hereby , authorized
the execution and delivery of a Contract by and between the City of
Fayetteville , Arkansas (the " City " ) and Beaver Water District of Benton
and Washington Counties , Arkansas , in substantially the form and with
substantially the contents hereafter set forth , and the Mayor and City
Clerk be , and they are hereby , authorized to execute , acknowledge and
deliver said Contract for and on behalf of the City . The form and contents
of the said Contract , which are hereby approved and which are made a
part hereof , shall be substantially as follows :
tiUCrc
UF1
EST_' -\l 1979.
SUPPLEMENTAL CONTRACT
THIS CONTRACT entered into by and between the City of
Fayetteville , Arkansas (the " City " ) and Beaver Water District of
Benton and Washington Counties , Arkansas (the " District " ) ;
WITNESSETH:
WHEREAS the District and the City have heretofore entered into
a Contract , dated January 16 , 1963 (the " 1963 Contract " ) , specifying
annual payments to be made by the City to the District which , together
with annual payments specified in similar contracts entered into by and
between the District and other cities (all cities involved , including the
City referred to in this Contract , are Fayetteville , Rogers , Springdale
and Bentonville , Arkansas ) are sufficient to enable the District to adequately
provide for the payment of the principal of and interest on the out9tanding
Water Revenue Improvement Bonds , Series A , of the District originally
issued in the principal amount of $ 411 , 000 (with $ 364 , 000 in
principal amount being outstanding as of the date of execution hereof) ; and
WHEREAS the 1963 Contract provides , among other things , that
when the District constructed additional improvements , the District and
the City (along with the other cities named above) would enter into
supplemental contracts increasing the required payments to those amounts
sufficient to enable the District to provide for the payment of all outstanding
bonds ; and
WHEREAS the District has now undertaken an additional con-
struction program and in connection therewith proposes to issue $ 1 , 800 , 000
in principal amount of Water Revenue Improvement Temporary Bonds of 1968 ,
dated December 1 , 1968 , bearing interest at the rate of S 1/4 % per annum ,
with interest payable semiannually on June 1 and December 1 of each year ,
Page 2
commencing June 1 , 1969 and with all principal maturing December 1 ,
1973 (the " 1968 Bonds " ) , with the 1968 Bonds to be paid out of the proceeds
of a permanent bond issue to be delivered on or prior to December 1 , 1973 ,
which permanent bonds will rank on a parity of security with the outstanding
Series A Bonds of the District and which will be issued under and equally
and ratably secured by the provisions of an outstanding Trust Indenture by
and between the District and First National Bank , Fayetteville , Arkansas
(the " Trustee " ) dated December 1 , 1962 (the " original Indenture " ) and of
record in the offices of the Circuit Clerks and Ex Officio Recorders of
Benton and Washington Counties , Arkansas (in Benton County , Arkansas
at Book 229 Page 329 and in Washington County , Arkansas at Book 291
Page 124 ) ; and
WHEREAS the District and the City (along with the other cities
involved) have entered into a Memorandum of Understanding and Contract
for Constructing , Maintenance , Operation and Expansion of Beaver Water
Supply Facilities executed in June , 1967 (the " 1967 Agreement" ) :
WHEREAS executed copies of the 1963 Contract ; the 1967 Agreement
and the original Indenture are on file in the office of the Secretary of the
District and in the office of the Trustee and reference is made thereto for
the details of their terms and provisions ; and
WHEREAS this Contract is entered into as a supplement to the
1963 Contract and by way of implementation of the provisions of the 1967
Agreement for the benefit of the parties hereto and for the Trustee and
the holders of the 1968 Bonds to insure adequate revenues for payment of
the principal of and interest on the 1968 Bonds in accordance with the
provisions thereof and in accordance with the original Indenture , as supple-
N
Page 3
mented by a First Supplemental Trust Indenture dated as of December 1 ,
1968 , specifying the details pertaining to the 1968 Bonds and the nature
and extent of their security , which. First Supplemental Trust Indenture
has been or will be prior to the delivery hereof recorded in the offices
of the Circuit Clerks and Ex Officio Recorders of Benton and Washington
Counties , Arkansas , and an executed copy of which will be on file in
the office of the Secretary of the District and in the office of the Trustee ;
NOW , THEREFORE , in consideration of the mutual benefits
heretofore derived and to be hereafter derived by the parties to this
Contract (including , without limitation , the insuring of an adequate water
supply to the City and its inhabitants necessary for the public health ,
safety and welfare ) , and for other good and valuable consideration , the
receipt of which is hereby acknowledged by the parties hereto , the City
and the District agree as follows :
Page 4
( 1 ) In addition to the payments specified in the 1963 Contract , the
City shall pay to the District , solely from revenues derived from the operation
of the City ' s utility system (being the municipally owned and operated utility
facilities which in the case of Fayetteville consists of water and sewer faci-
lities , in the case of Bentonville consists of water and electric facilities , in
,
the case of Rogers consists of water facilities and in the case of Springdale
consists of water facilities) , the amounts on the dates set forth in the following
schedule:
SEMI-ANNUAL PAYMENT DATE OF PAYMENT
$ 24 , 186 May 15 , 1969
24 , 186 November 15 , 1969
24 , 186 May 15 , 1970
24 , 186 November 15 , 1970
24 , 186 May 151 1971
24 , 186 November 15 , 1971,
24 , 186 May 151 1972
24 , 186 November 15 , 1972
The sum of the above payments and similar, payments being made by the other
cities involved will be sufficient to provide funds for the Distruct to pay interest
when due on the 1968 Bonds for the entire five-year period from the date of the
1968 Bonds (December 1 , 1968) until their maturity (December 1 , 1973) and the
payments are to be used solely by the District for that purpose . In addition to
the above payments it will be necessary to provide for the payment of fees of the
Trustee and Paying Agent in connection with the 1968 Bonds and the City agrees
that upon demand by the Trustee it will pay either to the District or directly to
the Trustee 40 . 95 per cent of such fees (with the understanding that the percentage may
be varied if necessary to round off amounts among it and the other cities involved so
that the total to be paid by all of the cities involved will equal the fees of the
Trustee and Paying Agent) .
(2) The City and the District understand that permanent bonds will
be issued on or prior to December 1 , 1973 and that the required amount of
Page 5
the proceeds of the permanent bonds will be used to pay in full all of the out-
standing 1968 Bonds . In connection with the permanent bonds the City and
the District hereby covenant and agree that they will execute and deliver a
Contract specifying payments (from the operation of their respective utility
facilities as heretofore described in this Contract) sufficient to enable the
District (along with similar payments to be received by the District from the
other cities involved) to provide for the payment of the principal of and interest
on the permanent bonds as , the same become due and containing such other
provisions as the City and the District deem desirable ' or appropriate at the
time not inconsistent with the above covenant . It is understood and agreed
that the holders of the 1968 Bonds are acquiring and will hold the 1968 Bonds
in reliance upon the commitment of the City (and the other cities involved) to
make the required payments specified in ( 1 ) above and in reliance upon the
covenant of the City (and the similar covenant of the other cities involved)
set forth above in this paragraph (2) .
Page 6
( 3 ) It is understood and agreed that pursuant to the provisions
of Paragraph (8) of the 1963 Contract that the contractual obligations of
the City hereunder shall rank on a parity of security with the contractual
obligations of the City under the 1963 Contract .
(4 ) The 1963 Contract , as supplemented hereby , shall continue
in full force and effect and the City , the District , the Trustee and the
holders of all of theoutstanding Bonds of the District (including the holders
of the 1 .968 Bonds ) shall be entitled to the benefit of all provisions thereof
and of all rights thereunder , including particularly and without limitation ,
the covenant of the City specifying that the required payments (from utility
facility revenues ) are certainly payable on the dates specified without notice
or demand or without abatement or setoff and regardless of any contingencies
whatsoever and notwithstanding any circumstances or occurrences that may
now exist or that may hereafter arise or take place .
IN WITNESS WHEREOF , the City has caused this Contract to
be signed in its name and on its behalf by its Mayor and its corporate
seal to be herewith affixed and attested by its City Clerk and the District
has caused this Contract to be signed in its name and on its behalf by its
Chairman , and its seal to be hereunto affixed and attested by its Secretary ,
all as of the �day of 1969 .
CI OF FAYETTEVILLE
By V
Mayor
ATTEST:
City tlerk
(SEAL)
TRUSTEE ' S APPROVAL
Pursuant to the provisions of Paragraph (2 ) of the 1963
Contract , the Trustee hereby consents to and approves the execution
and delivery of the foregoing Supplemental Contract ,
FIRST NATIONAL BANK
FAYETTEVILLE , ARKANSAS - TRUSTEE
By
Section 2 . That the Mayor and City Clerk be , and
they are hereby , authorized and directed for and on behalf of the City
to do all things , execute all instruments and otherwise take all action
necessary to the realization of the City ' s rights and to the discharge of
the City ' s obligations under the Contract .
Section 3 . That the provisions of this ordinance are hereby
declared to be separable and if any section , phrase or provision shall ,
for any reason,- be declared to be invalid , such declaration shall not
affect the validity of the remainder of the sections , phrases or provisions .
Section 4 . That all ordinances and parts of ordinances in
conflict herewith are hereby repealed to the extent of such conflict .
Section 5 . That there is hereby found and declared to be an
immediate need for the securing of an adequate water supply for the City
in order to insure the adequate protection of the public health , safety
and welfare of the City and its inhabitants , and the execution and delivery
of the Contract approved by this ordinance is essential therefor . It is ,
therefore , declared that an emergency exists and this ordinance being
necessary for the immediate preservation of the public health , safety
and welfare shall be in force and take effect immediately upon and after
its passage .
PASSED : � 6
APPROVED :
Mayo
ATTEST :
City C erk
1 4
CERTIFICATE
The undersigned , City Clerk of Fayetteville , Arkansas ,
hereby certifies that the foregoing pages numbered 1 to inclusive ,
are a true and compared copy of an ordinance passed at a IVi/!
session of the Board of Directors of Fayetteville , Arkansas , held at the
regular meeting place of the Board in the City of Fayetteville at 7, 3 o
o ' clock M . on the day of 1969 ,
and that said ordinance is of record in Ordinance Record Book
Page 3 � 7 . , now in my possession .
GIVEN under my hand and seal this day of
�
1969 .
City Jerk
(SEAL)
