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A RESOLUTION AUTHORIZING AN EXERCISE BY THE CITY OF JONESBORO OF RIGHTS UNDER SECTION 303 OF A CERTAIN TRUST INDENTURE ENTERED INTO BETWEEN THE CITY OF JONESBORO, ARKANSAS, AND THE MERCANTILE BANK, JONESBORO, ARKANSAS TRUSTEE
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BE IT RESOLVED by the City Council of the City of Jonesboro, Arkansas:
SECTION 1: That there be, and there is hereby authorized the execution and delivery of an Exercise by City of Jonesboro of Rights Under Section 303 of a Certain Trust Indenture Entered into Between the City of Jonesboro, Arkansas, and the Mercantile Bank, Jonesboro, Arkansas, Trustee, and the Mayor and City Clerk be, and they are hereby, authorized to execute and deliver the Exercise of Rights for and on behalf of the City of Jonesboro, Arkansas (the “Municipality”). The Exercise of Rights is approved in substantially the form submitted to this meeting, and the Mayor is hereby authorized to confer with the Mercantile Bank, Jonesboro, Arkansas, Trustee, in order to complete the Exercise of Rights 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 2: That the Mayor and City Clerk, be and they are hereby authorized and directed, for and on behalf of, the Municipality, to do all things, execute all instruments and otherwise take all action necessary to the realization of the Municipality’s obligations under the Exercise of Rights.
PASSED and ADOPTED this 18th day of July, 1983.