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AN ORDINANCE AUTHORIZING AND PROVIDING FOR THE ISSUANCE UNDER THE MUNICIPALITIES AND COUNTIES INDUSTRIAL DEVELOPMENT REVENUE BOND LAW, SECTION 14-164-201 ET SEQ., ARKANSAS CODE ANNOTATED, AS AMENDED, AND THE REVENUE BOND ACT OF 1987, SECTION 19-9-601 ET SEQ., ARKANSAS CODE ANNOTATED, AS AMENDED, BY THE CITY OF JONESBORO, ARKANSAS, OF ITS INDUSTRIAL DEVELOPMENT REFUNDING REVENUE BONDS (ANHEUSER-BUSCH PROJECT) SERIES 2002 IN THE AGGREGATE PRINCIPAL AMOUNT OF NOT TO EXCEED $6,200,000, FOR THE PURPOSE OF FINANCING A PORTION OF THE COST OF REFUNDING THE ISSUER’S INDUSTRIAL DEVELOPMENT REFUNDING REVENUE BONDS (ANHEUSER-BUSCH COMPANIES, INC. PROJECT) SERIES 1992; AUTHORIZING THE EXECUTION AND DELIVERY BY THE CITY OF JONESBORO, ARKANSAS OF A LOAN AGREEMENT, INDENTURE OF TRUST, TAX REGULATORY AGREEMENT, BOND PURCHASE AGREEMENT, OFFICIAL STATEMENT AND SUCH BONDS IN CONNECTION THEREWITH; AND AUTHORIZING OTHER ACTIONS IN CONNECTION THEREWITH.
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WHEREAS, the City of Jonesboro, Arkansas (the “Issuer”) is authorized and empowered by the provisions of the Municipalities and Counties Industrial Development Revenue Bond Law, Section 14-164-201 et seq., Arkansas Code Annotated, as amended, and the Revenue Bond Act of 1987, Section 19-9-601 et seq., Arkansas Code Annotated, as amended (collectively, the “Act”), to issue its revenue bonds for the purpose of financing land, buildings or facilities of any and every nature whatsoever that can be used in securing or developing industry within or near the Issuer upon such terms as the City Council of the Issuer shall deem advisable and as shall not conflict with the provisions of the Act and to refund any of such bonds; and
WHEREAS, in order to accomplish the purpose of the Act, the Issuer determined it necessary and advisable to issue its Industrial Development Revenue Bonds (Anheuser-Busch Companies, Inc. Project) Series 1982 in the aggregate principal amount of $6,200,000 (the “1982 Bonds”) to finance the costs of the acquisi...
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