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1585ORDINANCE NO. 1585(#07-2018) AN ORDINANCE AMENDING ORDINANCE NO: 158.3 (#05-2018) AUTHORIZING THE ISSUANCE AND SALE OF FOURTEEN MILLION TWO HUNDRED EIGHTY-.SEVE.N THOUSAND TWO HUNDRED SIXTY-THREE AND 94/100 DOLLARS ($14,287,263.94) OF A WATER CAPITAL IMPROVEMENT REVENUE REFUNDING BOND, SERIES 2018, BY THE CITY OF JACKSONVILLE, ARKANSAS; PRESCRIBING OTHER MINTERS RELATING THERETO; AND, DECLARING AN. EMERGENCY. WHEREAS, pursuant to the provisions of Ordinance No. 1583 (#05--20.18) of the City of Jacksonville, Arkansas (the "'City"}; adopted and approved on March 15, 2018, the City previously issued. its Water Capital Improvement Revenue Refunding Bond; Series. 2018, in the aggregate principal amount of Fourteen Million Two Hundred Eighty= seven Thousand Two Hundred Sixty-three and 9.4/100 Dollars ($1.4,287,253.94) (the - "Series 2018 Bond WHEREAS, subsequent to the adoption of Ordinance. N.o. 1583%(#05-2018) an error in the calculation of the. One Percent (I%) Servicing Fee. was discovered that requires a correction. in the: Servicing Fee: column of the Payment Schedule in. the Ordinance; WHEREAS, the Arkansas. Development Finance Authority, as servicer with respect to the Series 2018 Bond (the "authority"), and the Arkansas Natural Resources Commission (the ''Cornrnisslon'") have agreed. to accept a Corrected Payment Schedule for purposes of the Series 20.18 Bond; and, WHEREAS, this Ordinance is presented for the sole purposes of correcting the One Percent (1°!ti.} Servicing. Fee. Schedule only. No W, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OFJACKSONVILLE,. ARAANSA5 THAT - SECTION ONE: Ordinance No. 1583 (#05-2018`) is hereby amended for the sole purpose of correcting the One Percent (10Ia). Servicing Fee Payment. Schedule as it originally appears on Page 3 of Ordinance: No. 1583 .(#05-2018). SECTION TWO. The City hereby authorizes the substitution of the Corrected Payment Schedule in the City's Water Capital Improvement Revenue Refunding Bond, Series 2018, as follows: 00:0076, ORDINANCE NO. 1585(#07-2018) Page Two 1.000°/0 I Servicing Fee mm$71,435.06.��_._.. 67,698-00 63,931.00 _.� X0,136.0.0-----__- µ56,313.00 ....... 52;461.00 ..._. 48,580.Op --- -441670.00-------- __...40,731.00 36,:762:00 321753.00 — - 28;735:.44 �.. 24,676.06 mw 20,587.00 16;457.00 12,316:0.0 8;134.00 3,920.00 _ SECTION THREE. Except as set forth herein, all other terms and. obligations of Ordinance No. 1583 {#05-20`18). shall remain the same as set fortis therein. SECTION FOUR: it is necessary to accurately state the terms and obligation of the City and correct an error in the One Percent (1%). Servicing Fee Payment Schedule. It. `is, therefore, declared that an emergency exists and this: Ordinance, being necessary for the immediate preservation of the public peace, health and safety, shad take.effect 8nd be.in force from and after- its passage. ORDINANCE NO 15S5.(#07-2018) Page Three APPROVED AND ADOPTED THIS 19TH DA Y.CE APIRIt., 2018 Susa►7 Da vitt; ty ClerklTreasurer H0 r 7 000 ORDINANCE NO 1585 (#07-2018) Page Four CERTIFICATE The Undersigned, City Clerk/Treasurer of the City of Jacksonville, Arkansas .(the "City"), hereby certifies that the foregoing pages are a true and perfect copy of Ordinance No. 15.85 (x#07-201.8), adopted at: a regular session of the City Council, held at the regular meeting place of the City Council. at 7:00P.m., on the 19th day of April, 20 18. and that the. Ordinance is of record .and.now in my. possessio.n Given under my hand and seal. on this OtA day of April., 2018. Susan DNvitt, City ClerkjTreasurer