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Minutes for the special called City Council meeting on October 8, 1979
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SPECIAL CALLED MEETING, CITY COUNCIL OCTOBER 8, 1979
A special called meeting was held on Monday, October 8, 1979, at 5:00 p.m. for the purpose of a public hearing on Dana Corporation Act 9 Bond Issue. Present were Mayor, City Attorney, City Clerk and the following named aldermen: Park, Sanderson, Bridger and Province.
Mr. James Holland with the Friday Firm in Little Rock explained to council the bond issue and answered questions concerning same.
Mr. Stricklin offered the following ordinance:
AN ORDINANCE AUTHORIZING THE ISSUANCE OF INDUSTRIAL DEVELOPMENT REVENUE BONDS FOR THE PURPOSE OF PROVIDING PERMANENT FINANCING FOR INDUSTRIAL FACILITIES: AUTHORIZING A TRUST INDENTURE SECURING THE BONDS: AUTHORIZING A LEASE AND AGREEMENT BETWEEN THE CITY OF JONESBORO, ARKANSAS, AS LESSOR AND DANA CORPORATION, AS LESSEE: AUTHORIZING THE SALE OF THE BONDS AND THE EXECUTION OF A BOND PURCHASE AGREEMENT IN CONNECTION THEREWITH; AUTHORIZING AND PRESCRIBING OTHER MATTERS PERTAINING THERETO; AND DECLARING AN EMERGENCY
Mr. Park moved that the rules be suspended and the ordinance be placed on 2nd reading, seconded by Mr. Minx. All voted aye. Mr. Park then moved that the rules be further suspended and the ordinance be placed on 3rd and final reading, seconded by Mr. Sanderson. All voted aye. Mr. Sanderson then moved for the adoption of the ordinance, seconded by Mr. Park. All voted aye and the ordinance, was assigned #1699. The Emergency clause was adopted by unanimous vote of council on motion by Mr. Sanderson and seconded by Mr. Hinson.
The matters for the special meeting being concluded, the meeting adjourned.