0790000j)97
RESOLUTION NO. 790 (#01-2020)
A RESOLUTION AUTHORIZING THE MAYOR AND CITY COUNCIL
OF THE CITY OF JACKSONVILLE, ARKANSAS, IN COOPERATION
WITH THE UNDERWRITER AND BOND COUNSEL, TO PROCEED
WITH MATTERS PRELIMINARY TO THE ISSUANCE OF NOT TO
EXCEED APPROXIMATELY $15,300,000 PRINCIPAL AMOUNT OF
WASTEWATER REFUNDING REVENUE BONDS, IN ONE OR MORE
SERIES OF BONDS, TO REFUND THE CITY OF JACKSONVILLE,
ARKANSAS WASTEWATER REFUNDING REVENUE BONDS, SERIES
2016B AND PRESCRIBING OTHER MATTERS RELATING THERETO.
WHEREAS, the Board of Commissioners of the Jacksonville Wastewater Commission
(the "Commission") has determined previously that it is in the best interest of the City of
Jacksonville (the "City") to issue one or more series of Wastewater Refunding Revenue Bonds
(the `Bonds") for the purpose of refunding the City of Jacksonville, Arkansas Wastewater
Refunding Revenue Bonds, Series 2016A and the City of Jacksonville, Arkansas Wastewater
Refunding Revenue Bonds, Series 2016B (collectively, the "Bonds to be Refunded"); funding a
debt service reserve; and paying the costs of issuing the Bonds; and
WHEREAS, in order to provide for the issuance and sale of the Bonds, the Commission
has recommended that the City authorize the planning for, documentation of, and marketing of
the Bonds; to ratify the selections of Stephens Inc., as Underwriter, and Wright, Lindsey &
Jennings LLP, as Bond Counsel, to provide for the preparation of a Preliminary Official
Statement and other related documents; and to evidence its intention to reimburse itself for
qualifying expenditures from the proceeds of the Bonds.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF JACKSONVILLE, ARKANSAS, AS FOLLOWS:
SECTION 1. Such preliminary actions as are determined to be necessary by the City are
hereby authorized for the planning for, documentation of, and marketing of not to exceed
approximately $15,300,000 in aggregate principal amount of Wastewater Refunding Revenue
Bonds to finance the costs of refunding the Bonds to be Refunded, to fund a debt service reserve
account, and to pay the costs of issuing the Bonds, provided, however, that at such time as the
Mayor and City Council shall determine to be in the best interests of the City, the final terms of
the sale of the Bonds shall be submitted for the approval by the City Council of the City, together
with the proposed forms of the documents necessary to the issuance of the Bonds including,
without limitation, the bond purchase agreement, authorizing ordinance, and such other
documents, agreements, contracts, certificates, and other writings as may be appropriate.
SECTION 2. The preparation of a Preliminary Official Statement and its distribution to
prospective purchasers of the Bonds are hereby approved. The Mayor is hereby authorized and
directed to cause the Preliminary Official Statement to be delivered for and in the name of the
City, with such provisions therein as shall be approved by the Mayor, who is authorized to
execute and deliver to the Underwriters a certificate, when requested by the Underwriters, to the
effect that the Preliminary Official Statement is deemed final for the purposes of Securities and
Exchange Commission Rule 15c2-12.
SECTION 3. The City Council hereby approves and ratifies the selections of Stephens
Inc., as Underwriter, and Wright, Lindsey & Jennings LLP, as Bond Counsel.
SECTION 4. The City Council hereby authorizes and directs the Mayor, the City Clerk,
and other officers and employees of the City to carry out or cause to be carried out all
appropriate actions, to execute such other certificates or documents to evidence authority as
authorized herein, and to take such other actions as they, in consultation with Bond Counsel,
shall consider necessary or advisable in connection with this Resolution in order to prepare for
the issuance, marketing, sale, and delivery of the Bonds.
SECTION 5. This Resolution shall be effective from and after the date of its adoption.
ADOPTED: FEBRUARY 20, 2020.
ATTEST:
Susan 1)3 itt, City Clerk
AS TO FORM:
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Friedman, City Attorney
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