HomeMy WebLinkAboutOrdinance 3102.ORDINANCE NO. 3102
MICROFILMED
AN ORDINANCE AUTHORIZING THE ISSUANCE OF SALES AND USE
TAX CAPITAL IMPROVEMENT BONDS TO PROVIDE FUNDS TO PAY A
PORTION OF THE COST OF ACQUIRING, CONSTRUCTING AND
EQUIPPING ADDITIONS AND IMPROVEMENTS TO THE CITY'S
WASTEWATER COLLECTION AND TREATMENT FACILITIES;
AUTHORIZING THE EXECUTION AND DELIVERY OF A BOND
PURCHASE AGREEMENT PROVIDING FOR THE SALE OF THE BONDS;
AUTHORIZING THE EXECUTION AND DELIVERY OF A TRUST d)
INDENTURE SECURING THE BONDS; PRESCRIBING MATTEi2S
RELATED THERETO; AND DECLARING AN EMERGENCY W. G
WHEREAS, By Ordinance No. 3065 duly adopted by theoafd of n o
Directors (the "Board") of the City of Fayetteville, GArkansaSf
(the "City") on February 5, 1985 (the "Levying Ordnance'!),
there was submitted to the qualified electors of the City the`
question of issuing, under Amendment 62 to the Constitut-;!
Arkansas ("Amendment 62"), as implemented by Act 24 o'f -�Ot��
General Assembly of the State of Arkansas for the year 1985, a2'
superceded by Act 871 of the General Assembly of the State of
Arkansas for the year 1985 (the "Act"), sales and use, tax
capital improvement bonds in principal amount not to exceed
$28,000,000 (the "bonds") to provide funds to pay a portion of
the costs of acquiring, constructing and equipping additions and
improvements to the City's wastewater collection and treatment
facilities (the "Project"); and
WHEREAS, the Levying Ordinance also provided for the levy
and pledge of the proceeds of a 1% local sales and use tax (the
"Sales Tax") to secure repayment of the bonds; and
WHEREAS., at a special election held March 19, 1985, a
majority of the qualified electors of the City voting on the
question approved the issuance of the bonds and the levying and
pledging thereto of the proceeds of the Sales Tax; and
WHEREAS, the City, has determined to sell and issue its
$10,000,000 Sales and Use Tax Capital Improvement Bonds, 1985
Series A and $11,725,000 Subordinated Sales and Use Tax Capital
Improvement Bonds, 1985 Series B (collectively the "Series 1985
Bonds") and, as permitted under Amendment 62 and the Act; and
WHEREAS, the City has reserved in
defined) securing the Series 1985
subsequently issue additional bonds,
Bonds will not exceed $28,000,000
amount, for the purpose of providing
Project, if necessary; and
l�
the Indenture (hereinafter
Bonds certain rights to
which with the Series 1985
in aggregrate principal
financing to complete the
Lim 11VPAGE 004
WHEREAS, the City has made arrangements for the sale of the
Series 1985 Bonds to A. G. Edwards & Sons, Inc. of St. Louis,
Missouri (the "Purchaser") and in connection therewith has
prepared and distributed a Preliminary Official Statement, dated
July 9, 1985 (the "Preliminary Official Statement"); and
WHEREAS,
there has been submitted
to the
City by the
Purchaser
a Bond Purchase Agreement
(the "Bond
Purchase
Agreement")
providing for the purchase of
the Series
1985 Bonds;
and
WHEREAS,
a final Official Statement,
dated
July 18, 1985,
(the "Official
Statement") has been
prepared
and will be
distributed
in connection with the offer
and sale
of the Series
1985 Bonds;
and
WHEREAS, copies of the Preliminary Official Statement,
Official Statement, Bond Purchase Agreement, and Indenture have
been presented to and are before the Board at this meeting.
NOW
THEREFORE, BE IT
ORDAINED
by the Board of Directors of
the City
of Fayetteville,
Arkansas,
that:
Section 1. In addition to the terms defined in the preamble
to this Ordinance, the following words and terms used in this
Ordinance shall have the following meanings unless the context
clearly states another or different meaning or intent:
"Indenture" shall mean the Trust Indenture dated as of
August 15, 1985 between the City and the Trustee which provides
for the issuance of the Series 1985 Bonds.
"Pledged Receipts" means all proceeds derived by the City
from the local one percent (1%) sales and use tax levied and
collected by the City pursuant to the Levying ordinance and the
Act.
"Project" means the capital
improvement project
of the City
consisting
of a new wastewater
treatment facility
and certain
collection
lines described in the City's 201 Study,
dated as of
January 1,
1984, prepared for
the Environmental
Protection
Agency, to
be acquired, constructed and equipped in part with
proceeds of
the Series 1985 Bonds
as provided in the
Indenture.
"Purchaser" shall mean A. G. Edwards & Sons, Inc., of St.
Louis, Missouri.
"Trustee" shall mean McIlroy Bank & Trust, of Fayetteville,
Arkansas, together with its successor and any other corporation
which may at any time be substituted in its place pursuant to
the Indenture.
-2-
• um ll5f PAGE 005
Section 2. All actions heretofore taken by the City in
connection with the offer and sale of the Series 1985 Bonds,
including the preparation and distribution of the Preliminary
Official Statement, the preparation of the Official Statement
and preparation of the Indenture are hereby in all respects
ratified and approved.
Section 3. There is hereby authorized and directed the
acceptance of the offer by the Purchaser, pursuant to the Bond
Purchase Agreement, to purchase the Series 1985 Bonds at a price
of $21,238,518.75 (98,175% of the principal amount thereof),
plus accrued interest thereon from August 15, 1985 to the date
of delivery thereof. The Bond Purchase Agreement is hereby
approved in substantially the form exhibited at this meeting,
and the Mayor or the Assistant Mayor of the City is hereby
authorized to execute, acknowledge, and deliver the Bond
Purchase Agreement and the City Clerk is hereby authorized to
attest the same and to affix the seal of the City thereto. Any
changes to the Bond Purchase Agreement may be approved by any
officers of the City executing such document, their) execution
and delivery to constitute conclusive evidence of such'approval.
Section 4. To provide a portion of the funds for the
acquisition, constructing, and equipping of the Project there is
hereby authorized the issuance of two series of bonds of the
City under the Act, to be designated "City of Fayetteville,
Arkansas Sales and Use Tax Capital Improvement Bonds, 1985
Series A" in aggregate principal amount of $10,000,000 and "City
of Fayetteville, Arkansas Subordinated Sales and Use Tax
Capital Improvement Bonds, 1985 Series B" in aggregate principal
amount of $11,725,000. The Series 1985 Bonds shall be issued in
the forms and denominations set forth in the Indenture, shall be
dated as of August 15, 1985, shall be numbered as provided in
the Indenture; shall mature annually on August 15 of, each year
commencing August 15, 1986, as set forth in Schedule A hereto
(which schedule is incorporated herein by this reference); shall
bear interest payable semiannually on February 15 and August 15
of each year commencing February 15, 1986, at the rates set
forth in the Indenture and in Schedule A hereto; shall be
subject to redemption prior to maturity upon the terms and
conditions set forth in the Indenture; and shall be sold to the
Purchaser for the price specified in Section 3 of this;Ordinance.
Section 5, The Series 1985 Bonds shall be special
obligations of the City and, except to the extent payable from
bond proceeds or moneys from the investment thereof, shall be
payable solely from Pledged Receipts received by or on behalf of
the City, and delivered to the Trustee pursuant to the
Indenture. The Series 1985 Bonds and interest thereon shall not
constitute a debt or liability of the City within the meaning of
any constitutional or statutory limitation.
-3-
WEa1152PaGGE006
Section 6. The Series 1985 Bonds shall be executed on
behalf of the City by the facsimile signature of the Mayor and
the City Clerk of the City, in the manner provided in the
Indenture. If any of the officers who shall have signed or
sealed any of said bonds shall cease to be such officer of the
City, for bonds so signed and delivered as have been actually
authenticated by the Trustee or delivered by the City, such
bonds nevertheless shall be deemed authenticated, issued, and
delivered with the same force and effect as though the person or
persons who signed or sealed such bonds had not ceased to be an
officer or officers of the City, or any such bonds may be signed
and sealed on behalf of the City by such persons who, at the
actual date of the execution of such bonds, shall be the proper
officers of the City, although at the nominal date of such
bonds, any person so signing and sealing shall not have been
such officer of the City.
Section 7. The Indenture is hereby approved in
substantially the form exhibited at this meeting, and the Mayor
or the Assistant Mayor of the City is hereby authorized to
execute, acknowledge, and deliver the Trust Indenture and the
City Clerk is hereby authorized to attest the same and to affix
the seal of the City thereto. Any changes to the Indenture may
be approved by any officers of the City executing such document,
their execution and delivery to constitute conclusive evidence
of such approval.
Section 8. The Board hereby approves. the preparation of,
and ratifies and confirms the use by the Purchaser of the
Preliminary Official Statement and the Official Statement, and
the Mayor is hereby authorized and directed to execute and
deliver the Official Statement for and on behalf of the City.
Section 9. Rose Law Firm, a Professional Association, of
Little Rock, Arkansas, is"hereby confirmed as Bond Counsel with
respect to the issuance of the Series 1985 Bonds, the fees and
expenses of which firm shall be a cost of the Project.
Section 10. The City has previously collected certain funds
pursuant to a local 1% sales and use tax (the "Tax Funds").
There is hereby directed the deposit of all unexpended Tax Funds
into the project fund created pursuant to the Indenture. Tax
Funds so deposited shall be applied only for Project Costs (as
defined in the Indenture).
Section 11, The Mayor or Assistant Mayor and City Clerk of
the City are hereby empowered to execute and deliver the Series
1985 Bonds and all documents, certificates, and other
instruments which may be required under the terms of the
Indenture or Bond Purchase Agreement and which are appropriate
to effect the purposes of this Ordinance.
-4- uaEs1152PAGE007
Section 12. All ordinances or resolutions of the City in
conflict herewith are hereby repealed to the extent of such
conflict.
Adopted this 18th day of July, 1985.
ATTEST:
By: <5��
ty lerk
s.
CITY OF FAYETTEVILLE, ARKANSAS
By: (ZZ ;fW4
Mayor
-5
LIBIR 1152PAGE 008
Schedule A
$10,000,000
City of Fayetteville, Arkansas
Sales and Use Tax Capital Improvement Bonds
1985 Series A
Year
August 15
Maturi
Amount
Schedule
Rate of
Interest
1986r
$1,000,o00
5.25%
1987
1,060,000
5.75
1988
1,120,000
6.25
1989
11190,000
6.90
1990
1,265,000
7,15
1991
11350,000
7.45
1992
1,450,000
7.75
1993
1,565,000
7,90
$11,725,000
City of Fayetteville, Arkansas
Subordinated Sales and Use Tax Capital Improvement Bonds
1985 Series B
Maturity Schedule
Year
Rate
of
August 15
Amount
Interest
1986
$ 360,000
5,00%
1987
375,000
5,50
1988
395,000
6.00
1989
420,000
6.50
1990
445,000
7,00
1991
475,000
7.20
1992
510,000
7.40
1993
550,000
7,60
1994
21275,000
7.80
1995
2,455,000
8,00
1996
2,650,000
8,00
1997
815,000
8,00
CERTIFICATE OF RECORD
STATE OF ARKANSAS j S&
Washington County j
1, Alma L. Koilmeyer, Circuit Clerk and Ex•Officlo Recorder for•
Washington County, do hereby certify that the annexed
or ffice On the � day
going instrument was filed for record in ky oftA and the Sarno 1
19_at_ recordetpage�
duly recorded ins---
WWMS my hand and seal this._day 01_�--19— _6_ uM.1152 racy 009
Circuit Clerk and
v''sz Ex.otficioRecorded
Deputy oerk
`�
CERTIFICATE OF • ,, •l) .
wa-qiazlop
K4mxyejr.Cora(t0e2z74 fx-Officb Reml
f
ORDINANCE NO. 3 10 Z
AN ORDINANCE AUTHORIZING THE ISSUANCE OF SALES AND USE -
TAX CAPITAL IMPROVEMENT BONDS TO PROVIDE FUNDS TO PAY Plipo
PORTION OF THE COST OF ACQUIRING, CONSTRUCTING
EQUIPPING ADDITIONS AND IMPROVEMENTS TO THE CI�TE.•S G �+
WASTEWATER COLLECTION AND TREATMENT FACIL1Tf� S;
AUTHORIZING THE EXECUTION AND DELIVERY OF A 'pBOND, p
PURCHASE AGREEMENT PROVIDING FOR THE SALE OF THE BS;•;: y a
AUTHORIZING THE EXECUTION AND DELIVERY OF A Tfuj o o
INDENTURE SECURING THE BONDS; PRESCRIBING MATT",
RELATED THERETO; AND DECLARING AN EMERGENCY
9�
WHEREAS, By Ordinance No. 3065 duly adopted by the Board of
Directors (the "Board") of the City of Fayetteville, Arkansas
(the "City") on February 5, 1985 (the "Levying Ordinance"),
there was submitted to the qualified electors of the City the
question of issuing, under Amendment 62 to the Constitution of
Arkansas ("Amendment 62"), as implemented by Act 24 of the
General Assembly of the State of Arkansas for the year 1985, as
superceded by Act 871 of the General Assembly of the State of
Arkansas for the year 1985 (the "Act"), sales and use tax
capital improvement bonds in principal amount not to exceed
$28,000,000 (the "bonds") to provide funds to pay a portion of
the costs of acquiring, constructing and equipping additions and
improvements to the City's wastewater collection and treatment
facilities (the "Project"); and
WHEREAS, the
Levying Ordinance
also provided for the
levy
and pledge of the
proceeds of a 1%
local sales and use tax
(the
"Sales Tax") to secure repayment of
the bonds; and
WHEREAS, at a special election held March 19, 1985, a
majority of the qualified electors of the. City voting on the
question approved the issuance of the bonds and the levying and
pledging thereto of the proceeds of the Sales Tax; and
WHEREAS,
the City, has determined to sell and issue its
$10,000,000
Sales and Use Tax Capital Improvement
Bonds, 1985
Series A and $11,725,000 Subordinated Sales and Use
Tax Capital
Improvement
Bonds, 1985 Series B (collectively the
"Series 1985
Bonds") and,
as permitted under Amendment'62 and the
Act; and
i
WHEREAS,
the City has reserved in the Indenture
(hereinafter
defined) securing
the Series 1985 Bonds certain rights to
subsequently
issue additional bonds, which with the
Series 1985
Bonds will
not exceed $28,000,000 in aggregrate
principal'
amount, for
the purpose of providing financing to
complete the
Project, if
necessary; and
BoodASPA445
WHEREAS, the City has made arrangements for the sale of the
Series 1985 Bonds to A. G. Edwards & Sons, Inc. of St. Louis,
Missouri (the "Purchaser") and in connection therewith has
prepared and distributed a Preliminary Official Statement, dated
July 9, 1985 (the "Preliminary Official Statement"); and
WHEREAS, there has been submitted to the City by the
Purchaser a Bond Purchase Agreement (the "Bond Purchase
Agreement") providing for the purchase of the Series 1985 Bonds;
and
WHEREAS, a final Official Statement, dated July 18, 1985,
(the "Official Statement") has been prepared and will be
distributed in connection with the offer and sale of the Series
1985 Bonds; and
WHEREAS, copies of the Preliminary Official Statement,
Official Statement, Bond Purchase Agreement, and Indenture have
been presented to and are before the Board at this meeting.
NOW
THEREFORE, BE IT
ORDAINED
by the Board of Directors of
the City
of Fayetteville,
Arkansas,
that:
Section I. In addition to the terms defined in the preamble
to this Ordinance, the following words and terms used in this
Ordinance shall have the following meanings unless the. context
clearly states another or different meaning or intent:
"Indenture" shall mean the Trust Indenture dated as of
August 15, 1985 between the City and the Trustee which provides
for the issuance of the Series 1985 Bonds.
"Pledged Receipts" means all proceeds derived by the City
from the local one percent (1%) sales and use tax levied and
collected by the City pursuant to the Levying Ordinance and the
Act.
"Project" means the capital
improvement project
of the City
consisting
of a new wastewater
treatment facility
and certain
collection
lines described in the City's 201 Study,
dated as of
January 1,
1984, prepared for
the Environmental
Protection
Agency, to
be acquired, constructed and equipped in part with
proceeds of
the Series 1985.Bonds
as provided in the
Indenture.
"Purchaser" shall mean A. G. Edwards & Sons, Inc., of St.
Louis, Missouri.
"Trustee" shall mean McIlroy Bank & Trust, of Fayetteville,
Arkansas, together with its successor and any other corporation
which may at any time be substituted in its place pursuant to
the Indenture.
-2-
BOOK 1148PAGE646
Section 2. All actions heretofore taken by the City in
connection with the offer and sale of the Series 1985 Bonds,
including the preparation and distribution of the Preliminary
Official Statement, the preparation of the Official Statement
and preparation of the Indenture are hereby in all respects
ratified and approved.
Section 3. There is hereby authorized and directed the
acceptance of the offer by the Purchaser, pursuant to the Bond
Purchase Agreement, to purchase the Series 1985 Bonds at a price
of $:1L�' 8,518.75 (%,g5s of the principal amount thereof), plus
accrued interest thereon from August 15, 1985 to the date of
delivery thereof. The Bond Purchase Agreement is hereby
approved in substantially the form exhibited at this meeting,
and the Mayor or the Assistant Mayor of the City is hereby
authorized to execute, acknowledge, and deliver the Bond
Purchase Agreement and the City Clerk is hereby authorized to
attest the same and to affix the seal of the City thereto. Any
changes to the Bond Purchase Agreement may be approved by any
officers of the City executing such document, their execution
and delivery to constitute conclusive evidence of such approval.
Section 4. To provide a portion of the funds for the
acquisition, constructing, and equipping of the Project there is
hereby authorized the issuance of two series of bonds of the
City under the Act, to be designated "City of Fayetteville,
Arkansas Sales and Use Tax Capital Improvement Bonds, 1985
Series A" in aggregate principal amount of $10,000,000 and "City
of Fayetteville, Arkansas Subordinated Sales and Use Tax
Capital Improvement Bonds, 1985 Series B" in aggregate principal
amount of $11,725,000. The Series 1985 Bonds shall be issued in
the forms and denominations set forth in the Indenture, shall be
dated as of August 15, 1985, shall be numbered as provided in
the Indenture; shall mature annually on August 15 of each year
commencing August 15, 1986, as set forth in Schedule A hereto
(which schedule is incorporated herein by this reference); shall
bear interest payable semiannually on February 15 and August 15
of each year commencing February 15, 1986, at the rates set
forth in the Indenture and in Schedule A hereto; shall be
subject to redemption prior to maturity upon the terms and
conditions set forth in the Indenture; and shall be sold to the
Purchaser for the price specified in Section 3 of this Ordinance.
Section 5. The Series 1985 Bonds shall be special
obligations of the City and, except to the extent payable from
bond proceeds or moneys from the investment thereof, shall be
payable solely from Pledged Receipts received by or on behalf of
the City, and delivered to -the Trustee pursuant to the
Indenture. The Series 1985 Bonds and interest thereon shall not
constitute a debt or liability of the City within the meaning of
any constitutional or statutory limitation.
_3 BooK 1148P„GE647
Section 6. The Series 1985 Bonds shall be executed on
behalf of the City by the facsimile signature of the Mayor and
the City Clerk of the City, in the manner provided in the
Indenture. If any of the officers who shall have signed or
sealed any of said bonds shall cease to be such officer of the
City, for bonds so signed and delivered as have been actually
authenticated by the Trustee or delivered by the City, such
bonds nevertheless shall be deemed authenticated, issued, and
delivered with the same force and effect as though the person or
persons who signed or sealed such bonds had not ceased to be an
officer or officers of the City, or any such bonds may be signed
and sealed on behalf of the City by such persons who, at the
actual date of the execution of -such bonds, shall be the proper
officers of the City, although at the nominal date of such
bonds, any person so signing and sealing shall not have been
such officer of the City.
Section 7. The Indenture is hereby approved in
substantially the form exhibited at this meeting, and the Mayor
or the Assistant Mayor of the City is hereby authorized to
execute, acknowledge, and deliver the Trust Indenture and the
City Clerk is hereby authorized to attest the same and to affix
the seal of the City thereto. Any changes to the Indenture may
be approved by any officers of the City executing such document,
their execution and delivery to constitute conclusive evidence
of such approval.
Section 8. The Board hereby approves the preparation of,
and ratifies and confirms the use by the Purchaser of the
Preliminary Official Statement and the Official Statement, and
the Mayor is hereby authorized and directed to execute and
deliver the Official Statement for and on behalf of the City.
Section 9. Rose Law Firm, a Professional Association, of
Little Rock, Arkansas, is hereby confirmed as Bond Counsel with
respect to the issuance of the Series 1985 Bonds, the fees and
expenses of which firm shall be a cost of the Project.
Section 10. The City has previously collected certain funds
pursuant to a local 1% sales and use tax (the "Tax Funds").
There is.hereby directed the deposit of all unexpended Tax Funds
into the project fund created pursuant to the Indenture. Tax
Funds so deposited shall be applied only for Project Costs (as
defined in the Indenture).
Section 11. The Mayor or Assistant Mayor. and City Clerk of
the City are hereby empowered to execute and deliver the Series
1985 Bonds and all documents, certificates, and other
instruments which may be required under the terms of the
Indenture. or Bond Purchase Agreement and which are appropriate
to effect the purposes of this Ordinance.
_4 BooK114II' PAGE648
{
Section 12. All ordinances or resolutions of the City in
conflict herewith are hereby repealed to the extent of such
conflict.
Sec ion 13, It is hereby determined that t ere is an
i edi a need or ds to pro id for he cquisi ion,
co st ction an equipp'ng of d'tional wa water col ction
and eatment acilities r the ity. T efore, an ergency
is Glared t exist an his 0 d ance g necess for the
pub i heal safet a elf e f he C' y nd its
in abi nts shall be ful force nd effe t i ediate y upon
i ado io and appro al.
Adopted this y8'th day of July, 1985.
CITY OF FAYETTEVILLE, ARKANSAS
By
ZF `,� ` .n r F•4�iF AsAss�istant ay �9 Cir xma , i
,'s`s a .•.. 1 .
'. Cj?q erk
;..
80OK1148PAGE649
-5-
Sdhedule A
$10,000,000
City of Fayetteville, Arkansas
Sales and Use Tax Capital Improvement Bonds
1985 Series A
Year
August 15
Maturity Schedule
Amount
Rate of
Interest
1986
$1,000,000
5,25%
1987
1,060,000
5,75
1988
1,1201000
6,25
1989
11190,000
6,90
1990
1,265,000
7,15
1991
1,350,000
7,45
1992
1,450,000
7,75
1993
1,565,000
7.90
$11,725,000
City of Fayetteville, Arkansas
Subordinated Sales and Use Tax Capital Improvement Bonds
1985 Series B
Maturity Schedule
Year I Rate of
August 15 Amount Interest
1986 $ 360,000 5,00$
1987 375,000 5,50
1988 395400 6,00
1989 420r000 6,50
1990 445,000 7,00
1991 475,000 7,20
1992 510,000 7,40
1993 530,000 7,60
1994 2,275,000 7,80
1995 2,455,000 8100
1996 2,650,000 8,00
CERTIF 9ATE OF RECORD 815,000 CM101VICATE OF RLCORD
M ARKANSAS ] State of Arkansas
SS. City of Fayetteville ( SS
v: .hin;;den County ] � ,
I, Alma L. Kollmeyer, Circuit Clerk and Ex-Officio Recorder for
Washington County, do hereby certify that the annexed 'are• E Suzanne C. Kennedy, City Clerk and,
EP-Officio recorder for the Cityof Fa etteviile,
;omg i trument was filed for record in my office on the day do !iereby certify 1
/p ,o / Y that the annexed or fore. _ 19 tT_9� k_R1v1, and the s<t ••�e i<pC <if record in m P-
_record_%LILY at page MY and the same a
ni rT- omy d i 63 nc:rr• •i : i Mince f� Resolution book
ss my hand and seal this 2-day of 19_-
r KW • 3 0
Circuit Clerk and —6— BOOK, Witness my
hand OP6GE ft' to
E—G—/— Recorded - — Gday of
+c5 _-
Ornuty Clerk �k and e
e CITY of NOW THEREFORE. Be O Set Carlo In
of Ire
ltne IT ORDAINED by for BOara The lnOenlufYShall Oro could!
a On FtbfU&fy S. 1%S of Oieews Inc
clOf City 01 as of August 15. 1995. shall 0e'
IT e r1'CeV rira eir0inalKe"1. Fayetteville. Arkansas. numbered as PCOviae0 in Chet Quurs�vs Oa ocaall�l
-ell Wes iut ee to the thaIndenture; shall Mature aft.
0m sales and use s (e "Tam
e
ectp3 At the City Sactios 1. In aatflIgn to nua11Y on August 15 of
of each Funds"). TIs hereby
in9. In* terms definite In T Oi
mcin9 August reCled the 0lposid OI ell
endment e] to the Prefeent 10 this Ordinance. ISe19SOs
a set forth i eno empe0 Tax Funds 1010
CPrefermentty .on Of Arkansas the following Words and Schedule Ahereto (which Ine protect IVM Created
endment a]'•). as ' terms used in this Oedlnlnce SChlOule i9 incorporated
orporated Pursuant 10 Ian Indenture.
1e n00Y Act LOf Me Shall have Ine following harem by this reference). Tax Funds S00l Wfilep 5Nl1
e
Assembly of the meanings unless e context shall pear interest payable W applied only fProtect
State e of eInl Arkansas for the c arly states another or off semiannually an February COSTS (AS OttlM In In* III
ww as. as peew
rc"Od by lerenlmanlnPintent: Is end August 15 at each denture!.
! all Of me General "gndenturo' Shall mean the year commencing February Section IL The MIyOr Or
lylnt or ySlahr Of Trust Indenture dace as of 1A 19". at Tne rates set forth Assistant Mayor and City
AxAmAS August 15, 198s betweenan The in ?no Indenture and in Clerk W tC,ty an hereby
Me <ct ) Saes and Use ant City and The Trustee wh,Ch Schedule A Aerate; Snail Be emptsei to execute and
�t ' ol lrin[ipal amours [Spillages for me ssuance of wbien 10 redemption print deliver me Soles %55 Bonds
the Series T%S Bends. maturity upon me toms and aN documents. cerT,U
')«dS]f.OW.MO une "Pledged Receipts" am C naibenS Sear forth in and Omer instruments
leproviarmnist0 Means au pra(teos deiced the Indenture: • non be whit be required
day dyne poen0n of me costs 01 bCity Tram the«al slid m me Purchaser for me under theaioms of me lo
Cmppmc a oostriectdM into c ePercent (T%) Saes and price Specified m Section] Of denture Of Bona Purchase.
o x levied and Collected this Ordinance. � Agreement and w
s to me City's by the City pursuant to me SecnM 5. The series maS appropriate to efaenr sits w slaWA roe collection and. Levying Ordinance and the Boms Shan be special pVrpasesW mit Ordmaree.
enl fatuities une ACT. - mim udencn obligations W e City and. SOCl. Aoina
Trty „16t"); and - "PiO1nP means the cap, except fo me extent payable o eS01ulI0M M the City In
WHEREAS. the Levying Val Improvement proiecl of from bend proceeds or conflict Herewith are Hereby
b0inane arse provided for the City coWUlm9 of a new moneys from the invetmenl regaled to tan extent of
tit levy and pledoe at me wastewater treatment facil. thereof. shall for parable Such cWniC1.
1dden Ol a lX local sales icy end Certain collection solely from Pleagad Alined this TOM Oay Of
o use tux (The -Saes lines described in the City$ Receipts received by e n Jviv. 1995.
�-) to secure repayment ]ot Study. Oared as of behalf of the City, and CITY OF FAYETTEVILLE.
0 the bonds. one January 1. 1995, prepared Oeliveed to Trustee Trustour. ARKANSAS
WHEREASr at a special for the Envfrmmemal Pro's ant to the indenture, Tne AS: Marilyn Johnson
•ec6em held March 19. Mines, tectito Agency. 1, be ad Soren 1985 Bones and inter Assistant NOW
'materity, andshallWof Ire Qualified gutted. Constructed and t ThereSV [ . ATTEST:
-lectors of The City voting On equipped In part with pro- slltue a debt or haci,hly of By: Suzann*C. Kennedy
! question approved 1 e cellos Of the Series th
e e City within The meaning City Clerk
v
Of t bonds and Bonds as provided In the In of any Constitutional or sr
he levtuea
levying and pledging denture. Story limitation. Schedule
hereto of the processes of the "Purchaser" shalt mean Section The Series 1905 51o.m,m
iIeSTax; and A.G. EOwaet B fens. Inc.. Bends shall be executed on . City of Fayetteville.
WHEREAS, the City. has Of St. LOUTS. Missouri, behalf Of the City by The Isc Arkansas
Ieermined to Sell and issue "Trustee" shall men Amite signature of the Sales and Use Tax Capital
I$ 1I0.e00.00a Sales ono Use MCllroy Bank B Trust o1 Mayor ano the City Clerk of Improvement Bonds
"x Capital Improvement FayeneVulen
, Arkansas, the City, in ape Manner pro. 1985 Series
Imtls. 195S Series A and together with Its Su[CeSsOr vided In the Indenture. 11 Maturity Schedule
11J25,000 SVOordinated and any other corporation any of the officers who shall Year Hereof
ialles and UM Tax Capital wench may at any time he Said
have Signed or "a'" any of AugustlS Amount Interest.
serprevemenl Bends. 19B5 Substituted In M place put bonds mall cease to be '1956 $I'm.= S.]S% s B (CQUWively me mnomelndenwte.. sucn officer ex the City, for ever 1.oW.aao s.>S
ies 1945 Bons") and. as suseelion ]. All actions bones to vignea one 19e9 1,I]o.0.V a.]S
er ee under Amend heretofore taken by me City deliv eredas Sig b 1983 1,1m.CW a.%
<m EREAS,nd e Aft; Candity Connection wren me offer Vuauy authenticated by the logo 1,ge5.Ord 7.15
nWHER WHEREAS, IOI City has and sae Of the Series 19SS truffle or delivered by The 1991 1.S0.W0 ].]S
he ]SOA00 ].a5 rved in me Indenture aonds. IACludtng the City. Svcn ponds never t%] l.a hereinafter defined) secur preperanm and diStnbunan meess shall be deemed im LSIS,QAr is
•
g tSeriIAMS 15 Bonds of the Preliminary Official authenticated, issued, and SILn5,M0 altars ri9nts In subsequent statement, the preparation delivered with the
e issue ad0iuonal bonds, of the Official Statement one farce and effectos though city of Ferenevine,
Mich Withds the Series C losss preparation Of me Indenture toe per50n W "rates who SuBO/dArkansasnd Solesend
not ri hereby p all respfCts Signed Or fooled sucn bonds -
]4cipal O i 1, fair9t e Tariff" aM approved. had not eax0 to be an of Uel Tam Capital
nCi0a1 a Ian into Section ]. There is hereby ficn or Oflicee of the City. ImpiO vemmt Bonpi
al uaia of the
August s Amount
Interest
Such bonds.
19"
S WIM
S.W%
offer officers
1947
375.000
S.W
notion me
l9m
AGO
o
sts n Donn.
AnS.4100
.=
a.50
tiHaie one
1v%
45.CW
r.0o
n Have aeon
1%1
475,00o
7.20
e City.
19%
510,Wo
T.m
Ionisersa
1wa
1W
e m Suasion
1.:73.0000
i al
exhibited of
le"
2ASSrOW
COCCI
s the
Ta the Motor
a
1995
]A50.000
am
Mayor Olthe
1%r
ps.CW
a.00
in
eand to affix the seal of
the CITY fheret0. Any
Changes IO the Indenture j
ay be approved by any ef-
Imes of the C1tY executing
ro.
del eemenL their ecy. t
Iitn end delivery t0 <
lififlunt mCWSTVe evidence
of Such approval, i'
Section 9. The Board
oeeey approves the
County of Washington I
I• " " Hereby cettlf:
am the publisher of THE NORTHIVE%TARKANSASTINIES. a daily new
having a second class mailing privilege. and being not less than four p.
five columns each, published at a fixed place or business and at a (Ixed
Intervals continuously In the City of Fayetteville, Countyof Washington. At
for more than a period of twelve months. circulated and distributed f1
established place of business to subscribers and readers generally of all T
In the City and County for a definite price for each copy, or a fixed pr
annum, which price was fixed at what Is considered the value of the publl
based upon the news valueand service value It contains, that at least fifty f
of the subscribers thereto have paid cash for thelrsubscriptiom to thenew:
or Its agents or through recognized news dealers over a period of at le
months: and that the said newspaper publishes an average of more tha.
percent news matter.
that the legal notice hereto attached in the ma:
was published in the regular daily Issue of said newspaperfor
consecutive insertions as follows:
M
and the fourth Insertion onnt�the
��-^ daxuof ]9 _
See rnto and subscribed before me on this �cyn ^+ram day
(/ fill Public
fly Commission Expires:
9- �_qz._
Fees for Printing __ _ Sez'-l:l �s C5
Tora1 __...V3 //, .� _
STATEMENT FOR ADVERTISING
Nnrt4mrst Arkansas
(Leased Wire of DRAWER D
Associated Preaal FAYETTEVILLE, ARKANSAS
0twrs
ICirculation
Where It Pays
■■■■■■■■■■■■■■■■■
-
Amount
To 8alanca Account Randvad
t
18
19
20
21
22
23
24125
26
27
28
129
30
31
w a�
$
Ixcxn
ror�L
s
IXCxga
TOTAL
ALL ACCOUNTS DUE NOT LATER THAN IOrH OF MONTH. YOUR CREDIT IS VALU-
ABLE. PROTECT IT AND ACCOMMODATE US BY REMITTING PROMPTLY.
i