ORD NO 15-1977 ORDINANCE NO. (C I g 7
AN ORDINANCE AMENDING ORDINANCE NO. 51 -1976, ADOPTED
ON THE 15th DAY OF NOVEMBER, 1976, PERTAINING TO
POLLUTION CONTROL FACILITIES; PRESCRIBING OTHER MATTERS
PERTAINING THERETO; AND DECLARING AN EMERGENCY.
tir
WHEREAS, the City of Van Buren, Arkansas (the "City
adopted Ordinance No. 51 -1976, passed and approved on the 15th day
of November, 1976 "Ordinance No. 51- 1976 which Ordinance No. 51-
1976 authorizid the issuance of up to $1,700,000 in principal amount
of Pollution Control Revenue Bonds Diamond Shamrock Project, dated
December 1, 1976 (the "Bonds pursuant to the provisions of Act
No. 247 of the Acts of Arkansas of 1973, as amended; and
WHEREAS, at the time of the adoption of Ordinance No. 51 -1976
the estimated cost of the pollution control facilities (including
legal and other necessary expenses incidental to the construction
and the expenses of issuing the Bonds) was $1,700,000; and
WHEREAS, the estimated cost of the pollution control facilities
has been increased to $1,860,000, it is necessary to amend Ordinance
No. 51 -1976 to increase the principal amount of the Bonds to
$1,860,000; and
WHEREAS, due to the delay in the delivery of the Bonds it is
necessary to amend Ordinance No. 51 -1976 to change the date of the
Bonds from December 1, 1976 to June 1, 1977, and any other reference
to December 1, 1976;
Section 1. That Ordinance No. 51 -1976 be amended in that
where reference is made to $1,700,000 in aggregate principal amount
of Bonds, that it shall be amended to read $1,860,000 in aggregate
principal amount of Bonds; and
Section 2. That Ordinance No. 51 -1976 be amended in that where
reference is made to the date of the Bonds being December 1, 1976,
that it shall be amended to read June 1, 1977.
Section 3. That Ordinance Ido. 51 -1976, as amended hereby,
is continued in full force and effect.
Section 4. That there is hereby found and declared to be an
immediate need for the securing and developing of industry in order
to provide employment and payrolls, alleviate unemployment and other-
wise benefit the public health, safety and welfare of the City and
the inhabitants thereof, and the issuance of the Bonds authorized
hereby and the taking of the other action authorized by Ordinance
No. 51 -1976, as amended hereby, are immediately necessary for the
accomplishing of these public benefits and purposes. It is, therefore,
declared that an emergency exists and this Ordinance being necessary
for the immediate preservation of the public peace, health and
safety shall be in force and effect immediately upon and after its
passage.
PASSED: 1977.
APPROVED:
ATTEST:
419 i
/OS Mayor
City"
N
(SEAL)
CERTIFICATE
The undersigned, City Clerk of Van Buren, Arkansas, hereby
certifies that the foregoing pages are a true, correct and compared
copy of Ordinance No. /C of the City of Van Buren, Arkansas,
passed at a J� session of the City Council of Van Buren,
Arkansas, held o at the regular meeting place of the Council at
7 o'clock l e .m., on the day of r 1977, and
that the Ordinance is of record in Ordinance RecoBook No.
at Page ..2./ now in my possession.
GIVEN under my hand and the seal of the City this day of
____fr_t__, 1977.
s',..,— s
City Clerk
(SEAL)
a