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A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF JONESBORO AURHORIZING THE ENTRY INTO AN AGREEMENT TO ISSUE BONDS FOR THE PURPOSE OF SECURING AND DEVELOPING INDUSTRY WITHIN THE CITY
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WHEREAS, the City of Jonesboro, Arkansas, is authorized under the provision of Act No.9 of the Special Session of the General Assembly of the State of Arkansas for the year 1960, as amended (the “Act”), to acquire, construct, and equip facilities to secure and develop industry, and to assist in the financing thereof by the issuance of bonds payable from the revenues derived from such facilities; and
WHEREAS, Kenney Manufacturing Company, a Rhode Island corporation, or alternatively G. Dickson Kenney of Rhode Island, has evidenced an interest in acquiring, improving and equipping industrial facilities within the City of Jonesboro if the permanent financing can be provided through the issuance of bonds under the authority of said Act; and
WHEREAS, the City of Jonesboro desires to assist Kenney Manufacturing Company of G. Dickson Kenney to construct and operate industrial facilities in the City of Jonesboro, and to aid in the financing thereof under the provisions of said Act 9; and
WHEREAS, it is desirable that the City of Jonesboro enter into an Agreement to Issue Bonds for such purpose;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Jonesboro, Arkansas, that:
(1) The Mayor and the City Clerk of the City of Jonesboro, Arkansas, be authorized to enter into an Agreement to Issue Bonds in substantially the form and substance as follows:
AGREEMENT TO ISSUE BONDS
THIS AGREEMENT is made as of August 19, 1985, by and between the City of Jonesboro, Arkansas, a municipal corporation under the law of the State of Arkansas (herein called “City”), and Kenney Manufacturing Company, a Rhode Island corporation, or alternatively G. Dickson Kenney of Rode Island (herein, together with any successor or assignee to its or his rights and duties hereunder, called “th...
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