HomeMy WebLinkAboutOrdinance 2465 ORDINANCE NO . �` TOS 1978 SEP 2 REOORD
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AN ORDINANCE AMENDING ORDINANCE NO . 2449 ' f} �A p�O NryARK
ONETHETSTHFDAYYOFTJULYLE19A$KAPERTAININGT RCUIT CL RK R
INDUSTRIAL DEVELOPMENT REVENUE BONDS ; PRE-
SCRIBING OTHER MATTERS PERTAINING THERETO ;
AND DECLARING AN EMERGENCY .
WHEREAS , the City has heretofore by Ordinance No . 2449 ,
adopted July 5 , 1978 ( " Ordinance No . 244911 ) taken the necessary
action to authorize an industrial project to be operated by
American Air Filter Company , Inc . , a Delaware corporation ( the
" Company" ) , and the issuance of Industrial Development Revenue
Bonds - American Air Filter Project ( the " Bonds " ) for the purpose of
financing the Project as described in Ordinance No . 2449 ; and
WHEREAS , at the time of the adoption of Ordinance No . 2449
the estimated amount necessary was $ 3 , 200 , 000 and , accordingly ,
Series 1978 Bonds were authorized in that amount ; and
WHEREAS , it has developed that an additional amount will
be needed to accomplish the Project and - related expenses and ex-
penditures and the purpose of this Ordinance is to authorize
Series 1978 Bonds in the principal amount of not to exceed $ 4 , 000 , 000 ,
with the action hereby taken being in furtherance and in implementation
of the authority heretofore conferred by Ordinance No . 2449 ;
NOW , THEREFORE , BE IT ORDAINED by the Board of Directors
of the City of Fayetteville , Arkansas :
Section 1 . That Section 1 of Ordinance No . 2449 be
amended to read as follows :
" That the issuance of the Bonds pursuant to the provisions
of the Indenture is hereby authorized . Series 1978 Bonds are hereby -
authorized in the principal amount of not to exceed $ 4 , 000 , 000 ,
with the exact amount to be that specified in writing signed by
an authorized representative of the Issuer and an authorized
representative of the Company and delivered to the Trustee at or
prior to the delivery of the Series 1978 Bonds , The Indenture
provides for the issuance of Additional Bonds upon compliance
with the terms pertaining thereto set forth in the Indenture .
To prescribe the terms and conditions upon which the Bonds
MICROFILMED? we ® 973 488
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are to be executed , authenticated , issued , accepted , held
and secured , the Mayor is hereby authorized and directed to
execute and acknowledge the Indenture , and the City Clerk is
hereby authorized and directed to execute and acknowledge the
Indenture and to affix the seal of the Issuer thereto , and the
Mayor and City Clerk are hereby authorized and directed to cause
the Indenture to be accepted , executed and acknowledged by the
Turstee . The Indenture , which constitutes and is hereby made a
part of this Ordinance , shall be in substantially the following
form , to wit : ,,
® 973 489
Section 2 . 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
section , phrases and provisions .
Section 3 . That all ordinances , resolutions and parts
thereof in conflict hereby are hereby repealed to the extent of
such conflict ,
Section 4 , That Ordinance No . 2449 , as amended hereby ,
shall continue in full force and effect .
Section 5 , That there is hereby found and declared to
be an immediate need for the securing and developing of industry
in order to provide employment and payrolls , alleviate unemployment
and otherwise benefit the public health , safety and welfare of
the Issuer and the inhabitants thereof , and the issuance of the
Bonds authorized by Ordinance No . 2449 , ' as amended hereby , and the
taking of the other action authorized are immediately necessary
for the accomplishing of these public benefits and purposes . It
is , therefore , declared that an emergency exists and this
Ordinance being necessary for the immediate preservation of the
public peace , health and safety shall be in force and effect
immediately upon and after its passage .
PASSED : S 1978 .
APPROVED :
ATTEST :
AYE
MayorRr
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CERTIFICATE
The undersigned , City Clerk of the City of Fayetteville ,
Arkansas , hereby certifies that the foregoing pages are a true
and compared copy of an Ordinance passed at a &eikL session
of the Board of Board of Directors held at the regular meeting
place of the Board of Directors at �. � o ' clock iO . m . , on the
day of , 1978 , and that the Ordinance is of
record in Ordinance Record Book No . y , Page SOX now in
my possession .
GIVEN under my hand and the seal of the City this /e;? A/day
of �21� , 1978 .
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City -Clerk `
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CERTIFICATE OF RECORD
State of Arkansas
City of Fayetteville SS
I• Suzanne C. Kennedy, Cit:. ^rh
Ex-Officio recorder for the Cit
do herebyand
certify Hurt the y f ' °ye;Gaville
going is of record in anf.
Dears in myoffice l " " fap.
Ordinance and tteap
� Resoluti;:a
at page I O
CEkTIFICATE OF RECORD hand and seal thisWitness my
1 ATS OF ARKr !:.%S ] —� --d;;V Of
SS.
washin.^trc County ] -
I , Alan L. Kollmeyer, Circuit Clerk and Ex-Officio Recorder for City Clerk ar_-- til �; ,�,-;
Washington county, do hereby certify that the annexed or fore. f r
;oing instrumrntwas filed for recorli in my office on the ay
of 19!&/at IockAM, and the sc:ae i
duly reco ded r record 973 at peg_
WAness my hand and seal thiSC24day of 40 19�_
Circuit Clerk and
Ex-Officio Recorded
f pepubt Ge[k
e� 973 491
