ORD NO 14-1976 o'.
ORDINANCE NO. I 1 1 P
AN ORDINANCE AUTHORIZING A SALE AGREEMENT BY
AND BETWEEN THE CITY OF VAN BUREN, ARKANSAS AND
BEKAERT STEEL WIRE CORPORATION, IN SUBSTANTIALLY
THE FORM AND WITH SUBSTANTIALLY THE CONTENTS SET
FORTH IN AND MADE A PART OF THIS ORDINANCE;
AUTHORIZING THE EXECUTION AND DELIVERY OF THE
SALE AGREEMENT; PRESCRIBING OTHER MATTERS RELATING
THERETO; AND DECLARING AN EMERGENCY,
BE IT ORDAINED by the City Council of the City of Van Buren,
Arkansas:
Section 1. That there be, and there is hereby authorized the
execution and delivery of a Sale Agreement (the "Sale Agreement between
the City of Van Buren, Arkansas (the "City and Bekaert Steel Wire
Corporation, a New York corporation ("Bekaert"), in substantially the form
and with substantially the contents hereinafter set forth, and the Mayor
and City Clerk be, and they are hereby authorized to execute, acknowledge
and deliver the Sale Agreement for and on behalf of the City. The form
and contents of the Sale Agreement, which are hereby approved and which
are made a part hereof, shall be substantially as follows:
Section 2. That the Mayor and City Clerk be, and they are hereby,
authorized and directed, for and on behalf of the City, to do all things,
execute all instruments and otherwise take all action necessary to the
realization of the City's rights and to the discharge of the City's obligation
under the Sale Agreement.
Section 3. That the provisions of this Ordinance are hereby declared
to be severable, and if any section, phrase or provision shall, for any reason,
be declared to he invalid, such declaration shall not affect the validity of the
remainder of the sections, phrases and provisions.
Section 4. That all ordinances and parts thereof in conflict here-
with are hereby repealed to the extent of such conflict.
Section 5. That there is hereby found and declared to be an
immediate need for the securing and developing of industry in order to provide
additional employment and increased payrolls, alleviate unemployment
and provide other benefits incidental to the operation of a substantial
industry, and the execution and delivery of the Sale Agreement authorized by
this Ordinance are necessary for the accomplishment 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
health, safety and welfare, shall be in force and take effect immediately
upon and after its passage.
PASSED: O 1976.
APPROVED:
0 ATTEST: _Al
Mayor
City Clerk
(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. 1 L i 1iVe of the City of Van Buren, Arkansas, passed at a
S1 CC LAt session of the City Council of Van Buren, Arkansas, held
at the regular meeting place of the Council at /130 o'clock p .m. on
the O day of 1976, and that the Ordinance is of
record in Ordinance Record Book No. X at Page s� now
in my possession.
GIVEN under my hand and the seal of the City this a2. day of
1976.
City Clerk
(SEAL)
e