RES NO 04-02-1985 9 -2 -1955
CITY OF VAN BUREN, ARKANSAS
RESOLUTION NO. 2-4- 1985
A RESOLUTION AUTHORIZING THE VAN BUREN WATER AND SEWER DEPARTMENT
AND THE CITY OF VAN BUREN, ARKANSAS, TO BORROW MONEY FOR THE
REPAIR OF CERTAIN SEWER LINES.
0
WHEREAS, it is necessary that certain repairs be made to
the sewer line owned and maintained by the City of Van Buren,
Arkansas, by and through the Van Buren Water and Sewer Department;
and,
WHEREAS, said repairs are to a sewer line in and about the
area of South Third Street in Van Buren, Arkansas; and,
WHEREAS, up to approximately $100,000 in additional funds
are necessary in order to make said repairs and being that the
City of Van Buren, Arkansas, and the Van Buren Water and Sewer
Department at this time does not have the necessary funds
available; and,
WHEREAS, the Arkansas Statutes allow the Van Buren Water
and Sewer Department and the City of Van Buren, Arkansas, to borrow
money necessary to make said improvements and to be payable in
accordance with the terms of said Statute and upon the agreement
by the lending institution; and,
WHEREAS, the Van Buren Water and Sewer Commission by
Resolution dated April 9, 1985, have requested that the City Council
of the City of Van Buren, Arkansas, authorize and allow and
participate, if necessary, in the borrowing of up to $100,000 under
the terms of the Statute. A copy of said Resolution is attached
hereto.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF VAN BUREN, ARKANSAS:
THAT, the Van Buren Water and Sewer Department by and
through the Chairman of the Van Buren Water and Sewer Commission
and the City of Van Buren, Arkansas, by its Mayor, City Clerk and
Treasurer are hereby authorized to borrow up to the sum of
$100,000 from a lending institution for the purpose of repairing
the above described damaged line during such time as grant
applications to the State of Arkansas are being considered.
PASSED AND APPROVED this J day of /pi I-
1985.
CITY OF VAN BUREN, ARKANSAS
By
Ma or
AT TESTED
C Clerk
RESOLUTION
A RESOLUTION AUTHORIZING THE VAN BUREN WATER AND SEWER DEPARTMENT
TO BORROW MONEY AND TO SEEK THE APROVAL AND AUTHORIZATION OF THE
CITY COUNCIL OF THE CITY OF VAN BUREN, ARKANSAS, TO SUCH BORROWING.
0 WHEREAS, it is necessary that certain repairs be made to
the sewer line owned and maintained by the Van Buren Water and
Sewer Department on behalf of the City of Van Buren, Arkansas;
and,
WHEREAS, said repairs are to a sewer line in the South
Third Street area of Van Buren, Arkansas; and,
WHEREAS, approximately $100,000 in additional funds is
necessary in order to make said repairs and being that the City
of Van Buren and the Van Buren Water and Sewer Department at
this time does not have said funds available; and,
WHEREAS, the Arkansas Statutes allow the Van Buren Water
and Sewer Department with the approval of the City Council of
the City of Van Buren, Arkansas, to borrow the money necessary
to make said improvements and payable in accordance with the
terms of said Statute.
NOW, THEREFORE, BE IT RESOLVED, by the Water and Sewer
Commission of the City of Van Buren, Arkansas:
THAT, the Water and Sewer Department be hereby authorized
to borrow the sum of $100,000 from a lending institution for the
purpose of repairing the damaged sewer line and that this
Resolution shall be presented to the City Council of the City of
Van Buren, Arkansas, for its approval and authorization.
PASSED AND APPROVED this 9a- day of AA i 1985.
APPROVED:
L
7-HAI- Air
Van Buren Wate Sewer Commission
ATTEST:
4 1ai_ \itieA--'
Secretary