0615
~2
ORDINANCE NO. 6 1. 5
P\r~ ORDlr~ANCE CONFIIU,;lING TIlE AUTHORITIES AN'D
PROVISIONS OF AN ORDINANCE PERTAINING TO THE
CONSTRUCTING AND EQUIPPING OF EXTENSIONS AND
MPROVl~r4ENTS fro TIlE cr'rY HOSPITAL AND 'rIlE
ISSTJANCE OF REVENtJE BC)NI)S FOR TI-IE I;'INANCING
TIIEREOF; PItESCRIBING OTIIER MATTERS PERTAINING
'I'fIERETO i AND DECLARING AN EMERGENCY.
WHEREAS, trle Ci.
Council adopted on May 15, 1980,
Ordinance No. 586, which authori
the constructing and equipping
of extens
and improvements to
City's general, acute care
hospital, Rebsamen Men10rial l'Iospi tal (tIle " Hospital U) and the
issuance of the City's Hospital Refunding and Construction Revenue
Bonds, Series 1980, for the financing thereof and which prescribed
various matters incidental theretoj and
WHEREAS, as provided by Ordinance No. 586, the Bonds
have been offered by the Underwriters, Stephens Inc., Little
Rock, Arkansas, and the interest rates and other details can
now be determined and approved;
NOW, THEREFORE, Be It Ordained By the City Council of
the City of Jacksonville, Arkansas:
Section 1. The issuance of the City of Jacksonville,
A,rkansas Ho
Refunding and Construction Revenue Bonds,
Series 1980,
principal arrtount of $9,"100,000 (the "Bondsn)
is hereby authori
and approved. The Bonds .shall bear interest,
mature and be subject to redemption prior to maturity as set forth
in the Bond Purchase Agreement (hereinafter approved). The Trustee
and, Paying Agerl't for the F30nds shall
First Jacksonville Bank,
Jacksonville, Arkansas.
Section 2. The Bonds shall be sold to the Underwriters,
Stephens Inc., Little Rock, Arkansas, at a price of 97% of the
principal amount thereof, pursuant to the terms of the Bond
Purchase Agreement, copies of which are presented to and before
the City Council at the time of con~ideration of this Ordinance.
The Bond Purchase Agreement is hereby approved in substantially
the form presented to
City Council and the Mayor and City
Clerk are authorized to execute
del
r the Bond Purchase
Agreement on behalf of the City.
lL'j'
T ,."
~
-2-
Section 3. Except as modified hereby or inconsistent
herewith, the provisions of Ordinance No. 586 are hereby con-
formed, incl particularly (but without limitation) those
provis taining to the approval of the execution and delivery
of the Trust Indenture, the Preliminary Official Statement and
the Official Statement (as identified and set forth in Ordinance
No. 586). The Mayor and the City Clerk are authorized to execute
and deliver such writings and to take such action as may be
necessary or appropriate to the exercise or implementation of
the powers and duties conferred hereby, or the purposes hereof,
or to eviderlce the existence or exercise thereof.
Section 4. The provisions of this Ordinance are
hereby declared to be separable, and if any section, phrase
or provision shall for any reason be declared to be invalid,
such declaration shall not affect the validity of the remainder
of the sections, phrases and provisions.
~
Section 5~ All ordinances, resolutions and parts
thereof in conflict herewith are hereby repealed to the extent
of such conflict.
Section 6. It has been found and it is hereby declared
t trH3 c:onstruction anc1 equipment of extensi011s and improvements
-to the Ho
tal is essential to the provision of adequate health
care for the inhabitants of the City and that there is an immediate
and urgent need for the constructing and equipping of these ex-
tensions arid imp:r."ovements. T11erefore, an emergency is declared
this Ord
ing necessary for the preservation of the
c peace,
and safety, shall be in effect upon its
passage and approval.
l\.,DOP'rED AND APPROVED this 6th day of O:tober
, 1980.
APPROVED:
A'r'rEST:
/~~~
(SEAL)
ORDI~L:~ tl1<ECTIVE IMlYlliUIA'l'tiliY. ETYI.tl{GENCY CLAUSE AJ:t'J.i'IXlill. (~ITY CW{K G~)