HomeMy WebLinkAboutOrdinance 3018 N
FOR FSC FO
ORDINANChg?o soleMICRO
tVBSAPR Zy ��RO
AN ORDINANCE AUTHORIZING THE ISSUANCE 'SE,;' : 9 Z
INDUSTRIAL DEVELOPMENT REVENUE BONDS FOR ft, r $Aq, OO(� 1
PURPOSE OF PROVIDING PERMANENT FINANCING F® KOC ' vTy
INDUSTRIAL FACILITIES ; AUTHORIZING A TRUSTC(//TC 1EyFR qR
INDENTURE SECURING THE BONDS ; AUTHORIZING A � £/�/�
LOAN AGREEMENT BETWEEN THE CITY OF
FAYETTEVILLE , ARKANSAS AND ANDREW ARKANSAS
CORPORATION ; AUTHORIZING THE SALE OF THE
BONDS ; AUTHORIZING AND PRESCRIBING OTHER
MATTERS PERTAINING THERETO ; AND DECLARING AN
EMERGENCY _
WHEREAS , the City of Fayetteville , Arkansas ( the
" City " ) , is authorized and empowered under the provisions of Act
No . 9 of the First Extraordinary Session of the Sixty- Second
C\1 General Assembly of the State of Arkansas , approved January 21 ,
1960 , as amended ( the "Act " ) , to issue revenue bonds and to
expend the proceeds thereof to finance the acquisition ,
„1 construction and equipment of land , buildings or facilities
which can be used in securing or developing industry ; and
WHEREAS , it is proposed that the . City provide
permanent financing , through the issuance of revenue bonds under
the Act , of the costs of acquiring , constructing and equipping
certain industrial facilities consisting of lands , buildings ,
improvements , machinery , equipment and facilities ( the
"Project " ) , and that the City loan the proceeds of the bonds to
Andrew Arkansas Corporation , a Delaware . corporation ( the
" Company " ) to finance the Prdject ; .and
WHEREAS , pursuant to and in accordance with the
provisions of the Act , the City is now prepared to proceed with
financing the Project and to issue and sell $ 8 , 000 , 000 in
principal amount of its Industrial Development Revenue Bonds
( Andrew Arkansas Corporation Project ) , ( the "Bonds " ) , to provide
such financing ; and
WHEREAS , copies of the hereinafter described Trust
Indenture and Loan Agreement have been presented to and are
before this meeting ;
NOW , THEREFORE , BE IT ORDAINED by the Board of
Directors of the City of Fayetteville , Arkansas :
Section 1 . ( a ) The City hereby makes the following
findings with respect to the issuance of the Bonds and to the
Project :
4 ECO'I, 1v8PrGE102
f
( 1 ) The City has published notice of a public hearing
on the issuance of the Bonds . The notice specified :
( A ) The Project to be financed is the
acquisition of approximately 48 . 47 acres of
land on City Lake Road in the Fayetteville
Industrial Park at the City and the
construction and equipment of a steel
fabrication facility containing
approximately 50 , 000 square feet .
( B ) The maximum aggregate face amount of
Bonds to be issued with respect to the
Project is $ 8 , 000 , 000 .
( C ) The initial owner and operator of the
Project will be Andrew Arkansas Corporation ,
a Delaware corporation . The proceeds of the
Bonds will be loaned to the Company to
finance the Project , and the Company will be
required to repay the loan , with interest ,
at times and in amounts sufficient to
provide for payment of the principal of ,
premium , if any , and interest on the Bonds ,
as due .
( 2 ) The hearing was held at the time and place
specified in the notice .
( b ) The issuance of the Bonds for the purposes
specified in the notice is approved :
Section 2 . That the issuance of the Bonds is hereby
authorized . The Bonds shall be issued in the forms and
denominations , shall be dated , shall be numbered , shall mature .
( over a period not to exceed thirty ( 30 ) years ) , shall bear
interest ( at a rate or rates per annum ) and shall be subject to
redemption prior to maturity all upon the terms and conditions
recommended by the Company and to be set forth in the Trust
Indenture ( hereinafter authorized ) securing the Bonds .
Section 3 . That the Bonds be sold to First Union
National Bank , Charlotte , North Carolina ( the " Purchaser " ) , for
the purchase price of $ 8 , 000 , 000 .
Section 4 . To prescribe the terms and conditions upon
which the Bonds are to be executed , .authenticated , issued ,
accepted , held and secured , the Mayor is hereby authorized and
directed to execute and acknowledge a Trust Indenture by and
between the City and First Union National Bank , Charlotte rth
1 I39
'4
Carolina , as Trustee ( the "Trust Indenture " ) , and the City Clerk
is hereby authorized and directed to execute and acknowledge the
Trust Indenture and to affix the seal of the City thereto , and
the Mayor and City Clerk are hereby authorized and directed to
cause the Trust Indenture to be accepted , executed and
acknowledged by the Trustee . The Trust Indenture is hereby
approved in substantially the form submitted to this meeting ,
and the Mayor is hereby authorized to confer with the Company ,
the Trustee and the Purchaser in order to complete the Trust
Indenture in substantially the form submitted to this meeting
with such changes as shall be approved by such persons executing
the document , their execution to constitute conclusive evidence
of such approval .
Section 5 . That there be , and there is hereby
authorized the execution and delivery of a Loan Agreement by and
between the City and the Company , and the Mayor and City Clerk
be , and they are hereby , authorized to execute , acknowledge and
deliver the Loan Agreement for and on behalf of the City . The
Loan Agreement is hereby approved in substantially the . form
submitted to this meeting , and the Mayor is hereby authorized to
confer with the Company , the Trustee and the Purchaser in order
to complete the Loan Agreement in substantially the form
submitted to this meeting with such changes as shall be approved
by such persons executing the document , their execution to
constitute conclusive evidence of such approval .
Section 6 . That the Mayor and City Clerk , for and on
behalf of the City , be , and they are hereby , authorized and
directed to do any and all things necessary to effect the
execution and delivery of the Loan Agreement , the performance of
all obligations of the City under the Loan Agreement , the
execution and delivery of the Trust Indenture , the performance
of all obligations of the City under and pursuant to the Trust
Indenture , the issuance , execution , sale and delivery of the •
Bonds , and the performance of all acts of whatever nature
necessary to effect and carry out the authority conferred by
this Ordinance . That the Mayor and City Clerk be , and they are
hereby , further authorized and directed , for and on behalf of
the City , to execute all papers , documents , certificates and
other instruments that may be required for the carrying out of
such authority or to evidence the exercise thereof .
Section 7 . That the City is hereby involved with the
acquiring , constructing and equipping of industrial facilities ,
and pursuant to applicable laws of the State of Arkansas ,
including particularly the Act , competitive bidding is waived .
Section 8 . That the City Clerk is hereby authorized
and directed to file in the office of the City Clerk , as a part
ecor 112, SerA04
• r
of the minutes of the meeting at which this Ordinance is
adopted , for inspection by any interested person a copy of the
Trust Indenture and Loan Agreement and such documents shall be
on file for inspection by any interested person .
Section 9 . That the law firm of Friday , Eldredge &
Clark , Little Rock , Arkansas , be appointed to act as Bond
Counsel on behalf of the City in connection with the issuance
and sale of the Bonds _
Section 10 . 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 and provisions .
Section 11 . That all ordinances , resolutions and
parts thereof in conflict herewith are hereby repealed to the
extent of such conflict .
Section 12 . 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 City and the inhabitants thereof , and the
issuance of the Bonds authorized hereby and the taking of the
other action authorized hereby 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 : July 17 , 1984 .
APP, ( VED :
ATTEST :(Z� ( " zl�
Mayor
ity Cler
( SEAL )
.-
CERTIFICATE
The undersigned , City Clerk of the City of
Fayetteville , Arkansas , hereby certifies that the foregoing
pages are a true and perfect copy of Ordinance No . 3018
adopted at a regular session of the Board of Directors of the
City of Fayetteville , Arkansas , held at the regular meeting
place in the City at 7 : 30 0 ' clock _ . m . , on the 17th day of
July 1 1984 , and that the Ordinance is of record in
Ordinance Record Book No . at page now in my
possession .
GIVEN under my hand and seal on this 17th day of
July 1984 .
42Y Clerk
17
( SEAL ) y
� f
CERTIFICATE OF )214CORIJ
�ta'te of Arkansas
City of Fayetteville ( SS
IL Suzanne C. Kennedy, City Clerk and
'8x-Officio recorder for the City of Fayetteville,
CERTIFICATE OF kLCORD 'do hereby certify that the annexe! or fore_
going is of record inMY office and the same ap_
STATE OF ARKANSAS tPeurs in Ordinance
Washington County � SS• � st Resolution i)oott
I, Alma L. Kollmeyer, Circuit Clerk and Ex-Officio Record3r for rr��—� ^� r+�•---at p9geo N�ritness my
Washington County, do hereby certify that the annexed or fore- `RHHQ a iL
,Q
goin - turner. was filed for record in myAA�ffice on thaLk-day ay of
of 9�t 4—''clockAM, and the same is 19
duly recor ed in �l record_ -� $ at page ���`Z '�•� ;gAd �•g,�, t i����
Witness my hand and seat this 4�.day of 195.E
Circuit Clerk and ��Op r7rN
Of "o Retarded Buy, 11,28 f,,c_ b
13Y��Deputy Clar
SSU-ANCE O STR)L�L� ayw a liLTJIF { 4 4& . 'n•.
OEYELOFA�iNJ UL- arkp was hold at
Ot:'OS;F,OR STM ►URF03•HY pte aq Mace specifledln '
F_'!r,FROVq"OIN,O ,`�HRMA 3 ito nafice r . :
lIAl1C1N0 AOR INI
US ,R` L^llF .cll*�Ties • ' i(DI Tha,liwatea of ci iedBonds
uItNORIZ1110' A" t RUST . for the Wrpose! specified m'. STATE of ARKANSAS 7
NDE 01 RE'> SECURING theleelsaRp!d the* J}
IS BO NDi?AUTHORIZINO r i the' long$ the he a by Be.
Sof fess' Bond% nerebe County of Washln t6n
�LOANt AGREEMENT' BE- • .issued authorized. The Bondsanshall rn. g
T-W,- 'y N ?THE V- 1T-Y OR •f ININd (nthelrma antla•shall I sT1 r H
F. J\ ^Y E,-,T T ,EV- 1 4L E . IhatfoM, sMItW dated,`ahallt ■_lY.n- f1�- -
ARKANSAS AND .ANDREW • till mtmeeftd?•shall matu"i - hereby certify that I
ARKANSAS CORPORATION : . low a W not to *=beds I•
UTHORIZING THE SALE , merrryry <70) yan1, ansa besr� am the publisher of THE NORTHWE ARKANSAS TIMES, a daily newspaper
,0_,FT N E R ONO S 1 " Inteil•st (at ` rant or rat" par • having a second class mailing privilege, and being not less than four pages of
HORIZIto AND • PRE• annum) endintll be wbwto
SCRIBING OTHER MATTERS redemption Prior to maturity five columns each, published at a fixed place of business and at a fixed (dally)
PERTAINING THERETO; . au upon the Irma and conn- Intervals continuously in the Cit' of Fayetteville, County of Washington, Arkansas
AND D E C L A R I N G _A N tions recommended by iho
EMERGENCY. ' - Company and-to be aha form M for more than a period of twelve months, circulated and distributed from an
- 'WHEREAS, the CHr ;of ' 1 h e T r ifa t'A,n d • n t u r e• established place of business to subscribers and readers generally of all classes
.FC1t nwin', authorized (.n t ( hereinafter Isom orf:al) In the City and County for a definite price for each copy, or a fixed price per
seSectio the Bonds.
••mpowred ower in. Pro" ` Section g, That `hese Bonds be annum, which price was fixed at what Is considered the value of the publication,
'vistons of Act No.'9 of the,Firs1 Sold p •Fint_Union National based upon the news value and service value it contains. that at least fifty percent
, Extrardlnary Session of lite ) Bank , Charlotte,, . North
:sixty - second ; General Iearotina line '•:Purcnaaer••), 1 of the subscribers thereto have paid cash for their subscriptions to the newspaper
:Assemblyof the State -of
Ifor .the purchase - price . of or its agents or through recogr4zed news dealers over a period of at least six
Arkansas, �U,QW=• months; and that the said newspaper publishes an average of more than [ort
epprovi d Januaryz1, 1960, as anfe,nded (the section a. To prescrlbg.fhe P g y
`•Acr•), t0iaage revenue bow% terms and conditions upon percent news matter.
and to expand lie proceeds which the Bows aro -to be
4,"Wreol to finance the acquial• `executed, authenticated.
.tion, construction and agmP• flssusd, accepted, hold and i [anther certify that the legal notice hereto attached In the matter of
�
mentof land. auittliapsrfaclb t•ecuried, the Mayor is hrebY
'Nies which can be -used in lauthorized and acdirected til
,auring or developing In- }execute and WKMV aOpe a
fdusiry% and {Trust Indenture by dna be- •
r WHEREAS, It Is proposed tn the City and First Union
.that the City provide Penna- LweeNatlonal Bank, Charlotte,
ed
inf financltl¢ through the North Norm earollm, as Trustee tine % was published in the regular daily issue of said newspaper for
]issuance of revenue bonds un- ! ..Trushre Indenture"), and Tho consecutive insertions as follows:
[der Me Act, of the Costs of , City Clerk Is hereby authOrlZed
*{acquiring, corsiructlno and and directed 10 execute and Q
equipping certain Industrial tacknvwfSdpa the Trust .inden- The first Insertion on the day of 19
"tscunies comisling - of lands, t tura and to of is the seal of the
Abundings, improvement►• me- ICity thretd; and the Mayr
clattery, equipment and facile- o and City Clerk a• .hereby the second insertion on the day of 19
- fes (the "•ProiKr), and that f authorized and directed : to
.fho City loan in• proceeds Ofi causethe Trust Imhenturo to be
the bonds to Andrew Arkansas • accep-ted, ex•cufed any :Sc_ the third insertion on the day of 19
Corporation, a Delaware cor- r knowledged by the . Trustee.
Nporatfon (the ~Company") to : The Trust Indenture ts•hereby
,financema Project; and 1 approved Insubstantially the and the fourth insertion on the day rof 19
r WHEREAS, pursuant fo end : form Submitted to tnis 'meet-
"In accordance with the 'Fro' I Ing, •and tM ,Msyor a hereby //�''V��� f1 _ -
-`vision of the Act, the City .ls I authorized to Chahar, with the • �m`T
now prepared to proceed with t Company, the,Trustee and the
financing The Ptvjecf and to !
Purchaser In order to complete Sworn to and subscribed before me on this c-"""`-�L day of
')•sue and sell WOW,000 in the Trust, Indenturetin sub
principal amount Of Its Indus- t stantiaily ;me"forrtl tubmit(ed : VC
trial Development Revenue to, Ijtei meeting With such . f - 9Q `}
aBonda . IAndreW Arkansas matipea 'as •snNl ,b approved
'Corporation ProieeeS (Me by such Femora,executing the,
(,namcing;a �fo provide SuCn fl- dMumenl,..ihaV:ISYKg1ip1 ^tp'
y-nanclre: entl mnslltun- canduely evidenew
AREAS, cOples OTT
f t of Such allpraval Notary ubL'C
nailer tlestribed , Trus A, .sKtlon S. That there be, and ,
indenture •ntl Loan Agreement+ -fie is hereby auMoriieC fns My Commission Expires:
nave been presalteE fo end re ' execution ane -delivery-of a
'Defore Mismeetlrg: Loan Agreement by and be-
MM�� NOW, THEREFORE, BE ITS haaen thi City slid Ilii 'cam: 1
`iORDA1NED try the Board ofI pan and fha Mayor and City ' - --- "'—
Director-�r the City of Faye?- I Ctwk be, and they are hereby. ,
tevene.Arkansas: ' - authrlied -to •xeeute, ac-
Section 1. (a) The CITY I knowledge and deliverthe
;hereby makes the following Loan Agreemall for and on i
findings with respect to the I behalf of .the City. The Loan � � ,,11 lir. D
khaveme r the Bonds and to t Agreement Is hereby•opproved Fees for Print Ing -- _ -Srte—the Prolect: • In substantially the form Wb-
(1) The City has published ' mittedtothis maeting, and the I
$notice of a public hearing' m 1 Mayr Is hereby authorized to Cost of Proof —_- -S --.—
Other Issuance of the Boles. The + cpntrwith-the'COmPanY, the ,
ruf icespecifled: . - 71'ust" and;1he Purchaser In 0 .
Total
(A) The Project to be ii- I order to complete the Loan ` —__
nancro is .the -acquisition Of i Agreement in Substantially IM '
vapproximeMly •I01./Y"acres of form Submitted to this meeting ,
land on Citvi Lake Road in the , With such-changes as shelf to
FayettevilleIndustrialPark at approved by Such persons '
the City and the construction executing the document, their :
Land puiPmenl of a steel fabre. execution to constitute con- 't
creation fachity Containing ap. cluslve evidence of Such ap- -
sproxlmatety'17.000Square fees. i proval. I's ' . `
F ( B ) • The ' maximum all- ( Section a.xThal the Mayor
gr"bte lace amount of Bonds and City Chiefs. for and M
Lt to be issiled with respect to the I 11.r 1M GIJf1 De„Md they
Project is Sa,000,000- ) e" IiereDY. tJauTllorfsed and
(C) Thi Initial owner end ; acted-to do &AYi and all
operator Of the Project will be j. Ings tecassary'ello affect the
Andrew Arkansas Corporation. �� *cutbnta)d Aeliv&V of the
a^Delawaro' corporation.all,
( ' pan Agreement, int peHor-
procaeds of the Bows will be i� encs bl all obligations of the
.IMMd fo lho•ComPanY Io ti p, fly under .the Loan Agree.
hence the Project, and the :mint the execution and de-
Coq_psny will be required tolivery of the Trust, indenture,
•repay the loan,with interest, at, the PS O mSheeQO�;.pn�oblege.
tim"Iend lr,pnqur l)_cl tI tions of the dry_%RNr and
pursu
-ant to the Trust Iwen-
:� tuft, the Issuance, execlttion,
Ne and deflim" of the Bonds.
of whstevW4oatuceisar
Ma my
•
is eflectartd[Carry-!ad :111x•
Ify,coatMrad by this Or-
��r66Sthancei That 111fra Mayor and
r]ty tMrlc".tias"and tnw am
nsreby, rui_tAegwtnorized and
, ' dinctad fOr;and. on behalf Of
the Cl 7 .to .:eeim allye- and a
' - OocWllenfh cartlticefea; other InaI may to
and ,
' required for Ramie carrYlrq but of
0h authority or.30 evidence
Me exercise thereof.
•' Sg&lon 7. That„Me City Is
?hereby InvalYINO with the ac-
lquliing.- - [anstructlhil and
,equipping of {itdustrlal facui-
,ilas, and pursuant to applicable
mleyn of ffla.State of Arkansas.
@Including parifcull rly the Act,
competitive bidding Iswaived.
Section a. That the City Clerk
45 hereby authorleed and -
directed to file.ln the oRlci Of
the City Clark. M a part of the
.minutes of . the meeting at '
{.which this Ordinance Is
.adopted, for inspection by any
Interested parson a COPY of the
':Trust Indenture and Loan
'Agreementand . such docu-
ments Nall be oo file for In-
' spectlun by any interested
Section t. Thal the law firm
of Friday. Eldredge a Clerk.
' Little Rock. Arkansas, be ap
pointed
fOftitn ��!
on behalf City conllK
tion with to issuance and sale
' of the Bonds.
Section to. That the Pro-
I visions of this Ordfnetrca are
hereby dWsmd t0 be aepars-
I.�b1e, and if any section, phrase
or provision shall tar any
,..mason be deciered to to Inval'
old, such daclantton shell not
,.affect the valid" of the M,
meander ,of the sections.
r phrases and Provisions.
Sechlon 11. That all Ordi-
t lances. .reaolutiom and Psrfs '
thereat in conflict herewith are
hereby repeated to}he extent of,
• suchconfitct. -
Section 12. That there Is
hereby found and declared to
- be an . Immediate need for the
securing ' end developing Of
Industry In order to Proylde
employment and payr011L -81-
$*Vista unemployment and
Lftealth,
ise benefit ; Me . public
Safety .and welfare Of
y and the Inhabitants
; and the tswanCs Of the
authorized 'hereby and
tte-of to Other action
zed- hereby ars tmme-
necessary for tee ec-
, sWtng of mese pu�Y
r ltanefits '3nc puryoses. .11 is:s
therefore, declared that an
emergency exists and this Or-
dinance being necessary for
the Immediate preservation Of
rthe 'public peace. -health and
Yfety, shall 'be -in force and
l effect Immediately upon and
after its passage. - I
PASSED: Jury 17, 1984.
APPROVED:
Paul R. Noland
IAayor
ana E
M
cSuTenne C. acenretly
'City Clark
(SEAL) -
' I
EXCERPTS FROM MINUTES OF A MEETING OF THE
BOARD OF DIRECTORS OF THE CITY OF
FAYETTEVILLE , ARKANSAS, HELD July 17 1984
The Board of Directors of the City of Fayetteville ,
Arkansas , met in regular session at its regular meeting place
I
in Fayetteville 7 : 30
Arkansas , at p _. m . , on the 17th
day of July 19 89 . The following were present : Mayor
Paul R . Noland City Clerk Suzanne C . Kennedy ;
and Directors Ernest Lancaster , William Martin , Marion Orton , Frank Sharp ,
Ronald Bumpass , and Marilyn Johnson
Absent : None
1
The Mayor stated that consideration should be given to
an Ordinance authorizing a Trust Indenture , Loan Agreement and
the sale and issuance of Industrial Development Revenue
Bonds
This was a matter with which the Board was familiar and after a
discussion , Director Noland introduced an Ordinance
entitled : Ordinance No . 3018
AN ORDINANCE AUTHORIZING THE ISSUANCE OF INDUSTRIAL
DEVELOPMENT REVENUE BONDS FOR THE PURPOSE OF PROVID-
ING PERMANENT FINANCING FOR INDUSTRIAL FACILITIES ;
AUTHORIZING A TRUST INDENTURE SECURING THE BONDS ;
AUTHORIZING A LOAN AGREEMENT BETWEEN THE CITY OF
FAYETTEVILLE , ANKANSAS AND ANDREW ARKANSAS CORPORA-
TION ; AUTHORIZING THE SALE OF THE BONDS ; AUTHORIZING
AND PRESCRIBING OTHER MATTERS PERTAINING THERETO ;
AND DECLARING AN EMERGENCY ,
and the City Clerk read the Ordinance in full .
i
• i
i
- 2-
Director Johnson , seconded by Director
Bumpass moved that the rule requiring the
reading of an ordinance or resolution in full on three different I
days be suspended and that the Ordinance be placed on its second
reading . The Mayor put the question on the adoption of the motion
and the roll being called , the following voted aye :
Paul R . Noland Marion Orton
Ernest Lancaster Frank Sharp
William Martin Ronald Bumpass
i
Marilyn Johnson
and the following voted nay :
None
Thereupon the Mayor declared that at least two- thirds
of all members of the Board having voted in favor of the motion
to suspend the rule , the motion was carried and the rule suspended .
The Ordinance was then read by the City Clerk ,
Director Johnson seconded by Director
Bumpass then moved that the rule requiring the
reading of an ordinance in full on three different days be further
suspended and that the Ordinance be placed on its third reading .
The Mayor put the question on the adoption of the motion and the
roll being called the following voted aye : I
Paul R . Noland Marion Orton
1
Ernest Lancaster Frank Sharp
William Martin Ronald Bumpass
Marilyn Johnson
. 3-
and the following voted nay :
None
The Mayor declared that at least two- thirds of all members
elected to the Board having voted in favor of the motion to 'suspend
the rule , the motion was carried and the rule suspended . The
Ordinance was then read by the City Clerk .
Director seconded by Director
moved that . the Ordinance be adopted . The
question was put by the Mayor on the adoption of the motion and
the roll being called , the following voted aye :
Paul Noland
Marion Orton
Ernest Lancaster Frank Sharp
William Martin Ronald Bumpass
Marilyn Johnson
and the following voted nay :
None
Director seconded by Director
then moved that Section 12 the emergency
clause , be adopted , and on roll call the following voted aye :
Ordinance was adopted unanimously and included
the declarine of an emergency
and the following voted nay :
I
- 4 .
The Mayor thereupon declared the Ordinance and the emergency
clause adopted and signed the Ordinance , which was attested by the i
City Clerk and impressed with the seal of the City . The Ordinance
was given No . . 3018
1
(Matters not relating to an ordinance authorizing a Trust
Indenture , Loan Agreement and the sale and issuance of Industrial
Development Revenue Bonds are omitted . )
There being no further business , the Board adjourned .
Ma or
ATTEST :
I
L �
City Cler
( SEAL )
CERTIFICATE
The undersigned , City Clerk of Fayetteville '
I
Arkansas , hereby certifies that the foregoing pages numbered
1 to 4 , inclusive , are a true and correct copy of excerpts of
the minutes of a meeting of the Board of Directors of .
Fayetteville Arkansas at a regular session held at the regular
meeting place of the Board in the City at 7 : 30 o ' clock P . m . ,
on the 17th day of July 1984
, and the time and
place of the meeting was furnished to each person who made a
request therefor in accordance with the provisions of Act No . 93
of the Acts of Arkansas of 1967 .
( SEAL ) 74 City C r
I
I
I
I
i