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0302 M • 11 • • • • •. ORDINANCE NO. Jo cZ AN ORDINANCE AUTHORIZING THE ISSUANCE OF HOSPITAL REVENUE BONDS FOR FINANCING THE COST TO THE CITY OF CONSTRUCTING AND EQUIPPING NEW HOSPITAL IM- PROVEMENTS AND FACILITIES, AND THE PAYMENT OF EXPENSES CONNECTED THEREWITH;,AUTHORIZING A SUPPLEMENTAL TRUST INDENTURE SECURING THE BONDS; PRESCRIBING OTHER MATTERS RELATING THERETO AND DECLARING AN EMERGENCY. WHEREAS, the City of Jacksonville, Arkansas (the "City ") now owns a hospital (the Rebsamen Memorial Hospital, called "Hospital ") which serves the City and its inhabitants; and WHEREAS, it has previously been determined that the Hospital should be improved and expanded by the construction of additional facilities to provide nursing and medical care, at an estimated cost to the City of $1,000,000, including the total cost of construction, furnishing, equipping and the necessary architectural, legal and other expenses incidental to the construction of improve- ments and to the issuance of revenue bonds (the "construction "), all as described and set forth in plans, copies of which are on file in the office of the City Clerk; and WHEREAS, the City has authorized Hospital Revenue Bonds of the City in the total aggregate principal amount of One Million Dollars ($1,000,000), for the purpose of financing the construction and, in connection therewith, has authorized, and has executed and delivered, a Trust Indenture dated as of February 1, 1972 (the "Original Indenture"), all pursuant to the provisions of Act No. 175 of 1961, as amended ( "Act No. 175 "); and WHEREAS, the City has heretofore delivered Six Hundred Thousand Dollars ($600,000) in (unconverted) principal amount of bonds (the "Series A Bonds ") and, as authorized by the Original Indenture, the City now proposes to sell and deliver the additional Four Hundred Thousand Dollars ($400,000) in (unconverted) principal amount of bonds (the "Series B Bonds ") pursuant to the provisions of Section 101 of the Original Indenture; and WHEREAS, the City has issued temporary bonds of Series B, in the aggregate principal amount of $350,000, which are in the denomination of $50,000 each and mature February 1, 1974 (the "Temporary Bonds ") and it is necessary that the Temporary Bonds be refunded by the issuance of the (definitive) Series B Bonds; and WHEREAS, the purpose of issuance of the Series B Bonds is to accomplish the refunding of the Temporary Bonds and to finance the completion of the construction; and WHEREAS, the Series B Bonds have been sold to Stephens, Inc., Little Rock, Arkansas (the "purchaser "), at a price of par and accrued interest for bonds bearing interest at the rate of 6% per annum, being the best terms obtain- able, and the purchaser has, pursuant to the terms of the sale, elected to convert the $400,000 in principal amount to a series in the aggregate principal amount of $424,000, as set forth in detail hereinafter; and it has been found that the City will receive no less and pay no more than if the Series B Bonds had not been converted and that the conversion is in accordance with the terms of the sale; and WHEREAS, it is necessary in connection with the issuance of the Series B Bonds for the City to execute and deliver a Second Supplemental Trust Indenture (the "Supplemental Indenture "); NOW, THEREFORE, BE IT ORDAINED by the City Council of the City of Jacksonville, Arkansas: Section 1. There is hereby authorized and directed the accomplishing • of the construction, together with the refunding of the Temporary Bonds, as expeditiously as possible and the execution and delivery of necessary architectural, engineering, construction and other contracts for or pertaining thereto. Section 2. The sale of the Series B Bonds to the purchaser and the conversion thereof as described above are approved and confirmed. Section 3. City of Jacksonville, Arkansas Hospital Revenue Bonds, Series B, in the principal amount of $424,000 are hereby authorized and ordered issued, to provide financing for the cost to the City of the construction, togehter with the refunding of the Temporary Bonds, and, to prescribe the terms and conditions upon which the Series B Bonds are to be secured, executed, authen- 4. ticated, issued, accepted and held, the Mayor and City Clerk of the City are hereby authorized and directed to execute the Supplemental Indenture and to affix the seal of the City thereto, and to attest the Supplemental Indenture, and the Mayor and City Clerk are hereby authorized and directed to cause the Supplemental Indenture to be accepted and executed by the Trustee, which Supplemental Indenture is hereby made a part of this Ordinance and is to be in substantially the following form: SECOND SUPPLEMENTAL TRUST INDENTURE This SECOND SUPPLEMENTAL TRUST INDENTURE dated as of the first day of January, 1974, by and between the CITY OF JACKSONVILLE, ARKANSAS, a City of the first class, duly existing under the laws of the State of Arkansas (the "City "), as party of the first part, and FIRST JACKSONVILLE BANK, an institution o organized under and existing by virtue of the laws of the State of Arkansas, with its principal office, domicile and post office address in Jacksonville, Arkansas (the "Trustee "), as party of the second part; WITNESSETH: WHEREAS, the City and the Trustee have heretofore executed and delivered a Trust Indenture dated as of the first day of February, 1972, recorded in the office of the Circuit Clerk and Ex Officio Recorder of Pulaski County, Arkansas at Record Book 1397, page 373 (the "Original Indenture "), securing Hospital Revenue Bonds of the City authorized in the total aggregate principal amount of One Million Dollars ($1,000,000), authorized for the purpose of financing the construction and equipment of extensions (the "construction ") to the hospital of the City (the Rebsamen Memorial Hospital, called the "Hospital "); and WHEREAS, the City has heretofore delivered Six Hundred Thousand Dollars ($600,000) in (unconverted) principal amount of bonds (the "Series A Bonds ") and, as authorized by the Original Indenture, the City now proposes to sell and deliver the additional Four Hundred Thousand Dollars ($400,000) in (unconverted) principal amount of bonds (the "Series E Bonds ") pursuant to the provisions of Section 101 of the Original Indenture; and WHEREAS, the City has issued temporary bonds of Series B, in the aggregate principal amount of $350,000, which are secured by a First Supplemental Trust Indenture dated as of September 1, 1973 (the "First Supplemental Indenture ") are in the denomination of $50,000 each and mature February 1, 1974 (the "Temporary Bonds ") and it is necessary that the Temporary Bonds be refunded by the issuance of the (definitive) Series B Bonds; and • • WHEREAS, the purpose of issuance of the Series B Bonds is to accomplish the refunding of the Temporary B Bonds and to finance the completion of the construction; and WHEREAS, the purpose of this Second Supplemental Trust Indenture (the "Second Supplemental Indenture ") is to set forth the details of the Series B Bonds and to amend certain provisions of the Original Indenture; and . WHEREAS, the execution and delivery of this Second Supplemental Indenture and the issuance of the Series B Bonds have been in all respects duly and validly authorized by Ordinance No. of the City, adopted and approved on the day of , 19_; and WHEREAS, the Series B Bonds have been sold to Stephens, Inc., Little Rock, Arkansas (the "purchaser "), at a price of par and accrued interest for bonds bearing interest at the rate of 6% per annum, being the best terms obtain- able, and the purchaser has, pursuant to the terms of the sale, elected to convert the $400,000 in principal amount to a series in the aggregate principal amount of $424,000, bearing interest at lower rates, as set forth in detail herein- after; and it has been found that the City will receive no less and pay no more than if the Series B Bonds had not been converted and that the conversion is in accordance with the terms of the sale; and WHEREAS, the City is authorized by Act No. 175 of 1961, as amended ( "Act No. 175 "), to enter into this Second Supplemental Indenture and to issue the Series B Bonds; and WHEREAS, the Series B Bonds and interest coupons to be attached thereto and the Trustee's Certificate to be endorsed thereon are to be in sub- stantially the following form, with necessary and appropriate variations, omissions and insertions as permitted or required by the Original Indenture as amended and supplemented by this Second Supplemental Indenture, to -wit: (Form of Bond) UNITED STATES OF AMERICA STATE OF ARKANSAS CITY OF JACKSONVILLE COUNTY OF PULASKI % HOSPITAL REVENUE BOND, SERIES B No. $ KNOW ALL MEN BY THESE PRESENTS: That the City of Jacksonville, Arkansas (the "City "), acknowledges itself to owe and, for value received, hereby promises to pay to bearer, or if this Series B Bond be registered to the registered owner hereof, solely from the special fund provided as hereafter set forth, the principal sum of ONE THOUSAND DOLLARS in lawful money of the United States of America on the first day of February, 19 , and to pay solely from said special fund interest hereon at the rate of per cent ( %) per annum from date semiannually on the first days of February and August of each year, commencing August 1, 1974. Payment of interest, when registered as to interest, shall be by check or draft mailed to the registered owner at his address reflected on the registration book of the City. Payment of principal, and payment of interest when evidenced by coupons, shall be payable at the principal office of First Jacksonville Bank, Jacksonville, Arkansas (the "Trustee" and "Paying Agent "). This Series B Bond and the series of which it forms a part are dated January 1, 1974, designated "City of Jacksonville, Arkansas, Hospital Revenue Bonds, Series B ", numbered from one (1) to four hundred twenty -four (424), inclusive, in the aggregate principal amount of Four Hundred Twenty -Four Thousand Dollars ($424,000) all of like tenor and effect except as to number, rate of interest, maturity and right of prior redemption (the "Series B Bonds "), and are issued for the purpose of financing the cost to the City of constructing and equipping extensions to the City Hospital (the "Hospital "), including in connection therewith the refunding of temporary bonds previously issued, paying necessary expenses and making necessary expenditures incidental thereto and paying the expenses of the issuance of Series B Bonds (the "construction "). The Series B Bonds are part of an authorized issue of bonds in the total (unconverted) principal amount of $1,000,000 (the "bonds "), and the City has previously issued $600,000 in (unconverted) principal amount of bonds (designated the "Series A Bonds "). This Series B Bond and the series of which it forms a part are issued pursuant to and in full compliance with the Constitution and laws of the State of Arkansas, including particularly Act No. 175 of the Acts of Arkansas of 1961, as amended, and ordinances of the City, duly adopted and approved, which ordinances set forth in detail the terms and conditions upon which the Series B Bonds are issued (the "Authorizing Ordinance "). The bonds are not general obligations of the City, but are special obligations secured by a pledge of and payable solely from the gross revenues derived from the operation of the Hospital. An amount of Hospital revenues sufficient to pay the principal of and interest on the bonds has been duly pledged and set aside into the "Hospital Revenue Bond Fund," and the bonds do not constitute an indebtedness of the City within any constitutional or statutory limitation. All of the bonds are issued under and are equally and ratably secured by a Trust Indenture (as supplemented in connection with the issuance of the Series B Bonds), authorized by the Authorizing Ordinance, by and between the City and the Trustee, which Trust Indenture sets forth the terms and conditions governing the issuance of the bonds, the nature and extent of the security (which includes a lien on the properties described in the Trust Indenture), the pledge of revenues, and the rights and obligations of the City, the Trustee, and the holders and registered owners of the bonds. A copy of the Trust Indenture is recorded in the office of the Circuit Clerk and Ex Officio Recorder of Pulaski County, Arkansas, and reference may be had thereto by any interested person. Among other things, the City has covenanted in the Trust Indenture to impose and collect or cause to be imposed and collected such charges for the use of the facilities of the Hospital as will always produce sufficient revenues to provide for the payment of the principal of and interest on the bonds as the same become due and payable, and to provide for the payment of the reasonable expenses of operation and maintenance of the Hospital and adequately to maintain all funds required by the Trust Indenture. The Series B Bonds are subject to redemption prior to maturity, in whole or in part, with there to be no partial redemption of any Series B Bond, in inverse numerical order, at a price of the principal amount being redeemed plus accrued interest as follows; From surplus proceeds of the sale of the Series B Bonds not required for the construction on any interest paying date; from funds from any source on any interest paying date on and after February 1, 1979. Notice of the call for redemption shall be published one time in a newspaper published in the City of Little Rock, Arkansas, and having a general circulation throughout the State of Arkansas, with the publication to be at least fifteen (15) days prior to the redemption date. In addition, notice of redemption shall be mailed by registered or certified mail to the registered owner of any Series B Bond' registered as to principal addressed to such registered owner at his registered address and placed in the mail not less than fifteen (15) days prior to the date fixed for redemption. In the event that all of the Series B Bonds are registered as to principal, notice by registered or certified mail to the owner or owners thereof not less than fifteen (15) days prior to the date fixed for redemption shall be sufficient, and published notice of the call for redemption need not be given. Each notice shall specify the numbers and the maturities of the Series B Bonds being called and the date on which they shall be presented for payment. After the date specified in the call, the Series B Bonds so called will cease to bear interest, provided funds for their payment are on deposit with the Paying Agent et that time and, except for the purpose of payment, shall no longer be protected by the Trust Indenture and shall not be deemed to be out- standing under the provisions of the Trust Indenture. This Series B Bond may be registered as to principal alone or as to principal and interest and may be discharged from such registration, in the manner, with the effect and subject to the terms and conditions endorsed hereon and set forth in the Trust Indenture. Subject to the provisions for registration endorsed hereon and contained in the Trust Indenture, nothing contained in this Series B Bond or in the Trust Indenture shall have the effect of impairing the negotiability of this Series B Bond, This Series B Bond is issued with the intent that the laws of the State of Arkansas shall govern the construction hereof. The holder of this Series B Bond shall have no right to enforce the provisions of the Trust Indenture or to institute action to enforce the covenants therein or to take any action with respect to any event of default under the Trust Indenture or to institute, appear in or defend any suit or other proceeding with respect thereto, except as provided in the Trust Indenture. Modifications or alterations of the Trust Indenture or of any indenture supplemental thereto may be made only to the extent and in the circumstances permitted by the Trust Indenture. This Series B Bond shall not be valid until it shall have been authenticated by the Certificate hereon duly signed by the Trustee. IT IS HEREBY CERTIFIED, RECITED AND DECLARED that all acts, conditions and things required to exist, happen and be performed precedent to and in the issuance of this Series B Bond do exist, have happened and have been performed in due time, form and manner as required by law, that the indebtedness represented by this Series B Bond and the series of which it forms a part, together with all obligations of the City, does not exceed any constitutional or statutory limitation; and that the above referred to revenues pledged to the payment of the principal of and interest on this Series B Bond and the series of which it forms a part as the same become due and payable will be sufficient in amount for that purpose. IN WITNESS WHEREOF, the City of Jacksonville, Arkansas has caused this Series B Bond to be executed in its name by its Mayor and its City Clerk, thereunto duly authorized (with either the facsimile signature or manual signature of the Mayor and the manual signature of the City Clerk), and its corporate seal to be affixed hereto, and has caused the interest coupons hereto attached to be executed by the facsimile signature of its Mayor, all as of the first day of January, 1974. CITY OF JAC ONVILLE, ARKANSAS ATTEST: I / By / a r City Ck rk (SEAL) TRUSTEE'S CERTIFICATE OF AUTHENTICATION This Series B Bond is one of the bonds described herein aggregating $424,000 and dated January 1, 1974. FIRST JACKSONVILLE BANK JACKSONVILLE, ARKANSAS - By Authorized Signature (Form of Interest Coupon) No. $ February, On the first day of August, 19, the City of Jacksonville, Arkansas (unless the bond to which this coupon is attached shall have been previously . called for redemption or shall have become due as provided in the Trust Indenture referred to in the bond) will pay to bearer, solely out of the revenues pledged by the Trust Indenture, at the principal office of First Jacksonville Bank, Jacksonville, Arkansas, the sum of DOLLARS in such coin or currency as at the time of payment is legal tender for the payment of debts due the United States of America, being ( ) months interest then due on its Hospital Revenue Bond, Series B, dated January 1, 1974, and numbered • CITY OF CKS• MLLE, ARKANSAS By Ma or 0 0 • • • PROVISIONS 1'OR REGISTRATION AND RECONVERSION This bond may be registered as to principal on a registration book of the City, kept by the Trustee as Bond Registrar, upon presentation hereof to the Bond Registrar, which shall make mention of such registration in the registration blank below, and this bond may thereafter be transferred only upon an assignment o duly executed by the registered owner or his attorney or legal representative in such form as shall be satisfactory to the Bond Registrar, such transfer to be made on such book and endorsed by the Bond Registrar. Such transfer may be to bearer, and thereafter transferability by delivery shall be restored, but this bond shall again be subject to successive registrations and transfers as before. The principal of this bond, if registered, unless registered to bearer, shall be payable only to or upon the order of the registered owner or his legal representative. Interest accruing on • this bond will be paid only on presentation and surrender of the attached interest coupons as they respectively become due, and notwithstanding the registration of this bond as to principal, the appurtenant interest coupons shall remain payable to bearer and shall continue to be transferable by delivery; provided, that if upon registration of this bond, or at any time thereafter while this bond is registered in the name of the owner, the unmatured coupons attached evidencing interest to be thereafter paid hereon shall be surrendered to the Bond Registrar, statement to that effect will be endorsed hereon by the Bond Registrar and thereafter interest evidenced by such surrendered coupons will be paid by check or draft at the times provided herein to the registered owner of this bond by mail to the address shown on the registration book. This bond when so converted into a bond registered as to both principal and interest may be reconverted into a coupon bond at the written request of the registered owner and upon presentation at the office of said Bond Registrar. Upon such reconversion the coupons representing the interest to become due thereafter to the date of maturity will again be attached to this bond • . • 0 e. and a statement will be endorsed hereon by the bond registrar in the registration blank below whether it is then registered as to principal or payable to bearer. • • :Manner of :Signature of Date of Registration :Manic of Registered O.vner :Reristration :ilond Registrar • • • • • • • • • . • NOW, THEREFORE, KNOW ALL MEN BY THESE PRESENTS, THIS INDENTURE WITNESSETH: That the City, in consideration of the premises and of the sum of One Dollar ($1,00) in lawful money of the United States of America, to it duly paid by the Trustee, at or before the execution and delivery of these presents, and of the acceptance by the Trustee of the Trusts set forth in the Original Indenture and in this Second Supplemental Indenture, and for other good and valuable consideration, the receipt of which is hereby acknowledged by the parties hereto, does hereby grant, bargain, sell, convey, mortgage, assign and pledge unto the Trustee, and unto its successor or successors in trust, and to them and their assigns forever, for the securing of the performance of the obligations of the City set forth in the Indenture, all property of every kind and nature described in the Original Indenture and does hereby stipulate, cove- nant and agree with the Trustee and with the respective holders and registered owners, from time to time, of all of the bonds or coupons of any part thereof, and the Trustee does hereby stipulate, covenant and agree with the City for and on behalf of the respective holders and registered owners,:`from time to time, of all of the bonds or any part thereof as follows: • ARTICLE I AMENDMENTS AND SUPPLEMENTS TO ORIGINAL INDENTURE Section 101. Pursuant to the provisions of Section 101 of the Original Indenture, the details pertaining to the Series B Bonds are as follows: The Series B Bonds are designated "City of Jacksonville, Arkansas Hospital Revenue Bonds, Series B" (the "Series B Bonds ") and are in the principal amount of $424,000. The Series B Bonds are dated January 1, 1974 and interest thereon is payable semiannually on February 1 and August 1 of each year, commencing August 1, 1974. The Series B Bonds are in the denomination of $1,000 each. The Series B Bonds mature on February 1 of each year and interest on the Series B Bonds is payable as set forth in the following schedule (which schedule also sets forth the applicable bond numbers and interest rates): BOND INTEREST INTEREST YEAR NOS. PRINCIPAL RATES February 1 August 1 TOTAL 1974 • 12,898.96 12,898.96. 1975 1 -8 - 11 -B 11,000 11,056.25 10,795.00 32,851.25 1976 12 -8 - 23 -13 12,000 10,795.00 10,510.00 33,305.00 1977 24 -8 - 36 -8 13,000 4 -3/4% 10,510.00 10,201.25 33,711.25 1978 37 -8 - 50 -8 14,000 10,201.25 9,868.75 34,070.00 1979 51 -8 - 65 -B 15,000 9,868.75 9,512.50 34,381.25 1980 66 -8 - 81 -8 16,000 9,512.50 9,112.50 34,625.00 1981 82 -B - 97 -8 16,000 9,112.50 8,712.50 33,825.00 1982 98 -8 - 114 -8 17,000 5% 8,712.50 8,287.50 34,000.00 1983 115 -8 - 132 -8 18,000', 8,287.50 7,837.50 34,125.00 1984 133 -B - 151 -8 19,000 . 7,837.50 7,362.50 34,200.00 1985 152 -B - 172 -8 21,000 7,362.50 6,811.25 35,173.75 1986 173 -B - 194 -8 22,000 6,811.25 6,233.75 35,045.00 1987 195 -8 - 217 -B 23,000 5 -1/4% 6,233.75 5,630.00 34,863.75 1988 218 -8 - 241 -8 24,000 5,630.00 5,000.00 34,630.00 1989 242 -B - 267 -8 26,000 5,000.00 4,317.50 35,317.50 1990 268 -B - 295 -B 28,000 4,317.50 3,547.50 35,865.00 1991 296 -8 - 324 -8 29,000 3,547.50 2,750.00 35,297.50 1992 325 -8 - 355 -8 31,000 5 -1/2% 2,750.00 1,897.50 35,647.50 - 1993 356 -B - 388 -B 33,000 1,897.50 990.00 35,887.50 1994 389 =B - 429 -8 36,000 - 990.00 36,990.00 • • Interest on the Series B Bonds shall be evidenced by interest coupons. The principal of the Series B Bonds and the interest thereon, except as other- - wise provided in the case of registration, shall be payable to bearer upon presentation and surrender of the bonds and interest coupons at the principal office of the Trustee and Paying Agent. Payment of principal and interest shall be in any coin or currency of the United States of America which, on the respective dates of payment, is legal tender for the payment of debts due the United States of America. The Series B Bonds issued under the Indenture and the coupons attached thereto shall be substantially in the form hereinabove set forth with such appropriate variations, omissions and insertions as are permitted or required by the Indenture. Section 102. Pursuant to the provisions of Section 201 of the Original Indenture, the Series B Bonds shall be subject to redemption prior to maturity as specified in the Series B Bond form hereinabove set forth. Section 103. Section 402 (1) of the Original Indenture is hereby amended by striking the term "1972 Hospital Revenue Bond Fund" and inserting in lieu thereof the term "Hospital Revenue Bond Fund." Section 104. Section 402 (2) of the Original Indenture is amended by increasing the amount of the debt service reserve to $85,000. Section 105. Section 501 (a) of the Original Indenture is hereby amended to read as follows: (a) The Trustee shall take out of the total sale proceeds (i) the amount necessary to cover debt service requirements of the bonds until revenues are or will be available in sufficient amounts to take care of debt service requirements, as specified by letter of instructions from the City at the time of the delivery of each series; and (ii) any amount necessary to provide for the redemption of outstanding temporary bonds, as specified by letter of instructions from the City at the time of the delivery of each series; • Section 106. Section 1104 of the Original Indenture is hereby amended by adding at the conclusion thereof the following: "Indenture" - This Trust Indenture, as originally executed and delivered and as amended or supplemented as herein provided, including without limitation the Second Supplemental Trust Indenture dated January 1, 1974. • ACKNOWLEDGMENT STATE OF .ARKANSAS ) COUNTY OF PULASKI ) On this day of , 19, before me, a Notary Public, duly commissioned, qualified and acting, within and for the State and County aforesaid, appeared in person the within named and and respectively, of First Jacksonville Bank, Jacksonville, Arkansas, to me personally known, who stated that they were duly authorized in their respective capacities to execute the foregoing instrument for and in the name and behalf of the Bank, and further stated and acknowledged that they had so signed, executed and delivered the foregoing instrument for the consideration, uses and purposes therein mentioned and set forth. IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal this day of , 19 Notary Public My Commission expires: (SEAL) • • ARTICLE II MISCELLANEOUS Section 201. The provisions of the Original Indenture, as amended and supplemented by this Second Supplemental Indenture, shall continue in full force and effect and shall be fully applicable to the Series B Bonds, including, without limitation, the execution, authentication and delivery thereof and security therefor. The Series B Bonds shall rank on a parity of security with the Series A Bonds. Section 202. Upon the delivery of the Series B Bonds, and the surrender of the Temporary Bonds, the First Supplemental Indenture shall, without further action, be deemed to have been rescinded and to be of no effect. Section 203. This Second Supplemental Indenture may be simultaneously executed in several counterparts, each of which shall be an original and all of which shall constitute but one and the same instrument. A copy hereof shall be recorded in the office of the Circuit Clerk and Ex Officio Recorder of Pulaski County, Arkansas, and a copy shall be filed and remain on file with the Trustee. 1 IN WITNESS WHEREOF, the City of Jacksonville, Arkansas has caused these presents to be signed in its name and behalf by its Mayor and its corporate seal to be hereunto affixed and attested by its City Clerk, and to evidence its acceptance of the trusts hereby created, First Jacksonville Bank, Jacksonville, Arkansas, has caused these presents to be signed in its name and behalf by its and its corporate seal to be hereunto affixed and attested by its , all as of the day and year first above written. CITY OF JACKSONVILLE, ARKANSAS ATTEST: � By a _ i tAi -, ayo i PO' City Clerk (SEAL) �l - FIRST JACKSONVILLE BANK JACKSONVILLE, ARKANSAS By ATTEST: (title) (title) (SEAL) V " - _ ... _. _. ... .. __.. • ACKNOWLEDGMENT STATE OF ARKANSAS COUNTY OF PULASKI On this day of , 19, before me, a Notary Public duly commissioned, qualified and acting, within and for the County and State aforesaid, appeared in person the within named and , Mayor and City Clerk, respectively, of the City of Jacksonville, Arkansas, a municipality of the State of Arkansas, to me personally known, who stated that they were duly authorized in their respective capacities to execute the foregoing instrument for and in the name of the municipality, and further stated and acknowledged that they had signed, executed and delivered the foregoing instrument for the consideration, use and purposes therein mentioned and set forth. IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal this day of , 19 Notary Public My Commission expires: (SEAL) Section 4 . The Mayor and the City Clerk for and on behalf of the City are authorized and directed to do any and all things necessary to effect the execution and delivery of the Indenture, its execution and acceptance by the Trustee, the performance of all obligations of the City under the Indenture, the execution and delivery of the bonds, and the performance of all other acts of whatever nature necessary to effect and carry out the authority conferred by this Ordinance and the Indenture. The .Mayor and City Clerk are further authorized and directed for and on behalf of the City to execute all papers, documents, certificates and other instruments that may be required for the accomplishment of the authority conferred by this Ordinance and the Indenture and to evidence that authority and its exercise. Section S. That the City is here involved with the acquiring and constructing of a hospital extension, requiring highly specialized work and specialized types of equipment, and, therefore, competitive bidding has been and is hereby waived. This action is taken by the City Council pursuant to applicable laws of the State of Arkansas, including particularly Act No. 175. Section 6 . The provisions of this Ordinance are severable. If any provisions of this Ordinance shall for any reason be held invalid or inapplicable to any person or circumstance, such holding shall not affect the validity or applicability of the remainder of the Ordinance. Section 7. All Ordinances and Resolutions or parts thereof in conflict herewith are hereby repealed to the extent of such conflict. Section 8. It has been found and it is hereby declared that the need for adequate hospital facilities endangers the life, health and welfare of the inhabitants of the City, and the adequate facilities can be made available only by the issuance of the bonds authorized by this Ordinance. Therefore, an emergency is declared to exist and this Ordinance being immediately -, sn ^n ... � ,�^rRT'^ ,• ,- ,kel+d:.:"T+�i.�aV+rta.t: -"_ s'z�6 EM1'b.a. tiYM' +.MM�4ge1Y5�1`?NV M%tln`a;l!?Yi!+< �, v };- • necessary for the preservation of the public peace, health, and safety shall take effect and be in full force from and after its passage and approval. PASSED this day of ��� /� 19 ta- .CITY OF JAC SONVILLE, ARKANSAS /� ATTEST: I ' BY 4 y r City C1e (SEAL) • a CERTIFICATE The undersigned, City Clerk of the City of Jacksonville, Arkansas, hereby certifies that the foregoing is a true and compared copy of an Ordinance passed at a ragnlar session of the City Council of the City of Jacksonville, Arkansas, held at 7230 o'clock p .m., on the ghlay of DarArbor , 19 71 , and that the Ordinance is now of record in the official records of the City in Book No. 9 , page 74, in my possession as such City Clerk. GIVEN under my hand and the seal of the City this 20th day of , 19,23. t GJ7 2 Ci Clerk (SEAL) EXCERPTS FROM MINUTES OF A MEETING OF THE JACKSONVILLE, ARKANSAS CITY COUNCIL HELD December 20 , 1973 The City Council of the City of Jacksonville ; Arkansas , met in regular session at its regular meeting place in Jacksonville , Arkansas , at 7 :30 P .m. , on the 20th day of December , 1973. The following were present: Mayor JOHN R. HARDEN • City Clerk PLOY AVANTS ; and Aldermen ROME G. HILL HARRY DOUGHERTY WILLLW LE MIAN RICHARD ADAIR LARRY WILSON 0SCO !CNEICUTT Absent: None The Mayor stated that consideration should be given to an ordinance authorizing hospital revenue bonds This was a matter with which the Council was familiar and after a discussion, Alderman HILL introduced an ordinance entitled: AN ORDINANCE AUTHORIZING THE ISSUANCE OF HOSPITAL REVENUE BONDS FOR FINANCING THE COST TO THE CITY OF CONSTRUCTING AND EQUIPPING NEW HOSPITAL IMPROVE- . .MENTS AND FACILITIES, AND THE PAYMENT OF EXPENSES CONNECTED THEREWITH; AUTHORIZING A SUPPLEMENTAL TRUST INDENTURE SECURING THE BONDS; PRESCRIBING OTHER MATTERS RELATING THERETO AND DECLARING AN EMERGENCY. • Alderman Adair and Alderman Wilson and t OtiPpaDivdc read the ordinance in full. • i Page 2 Alderman TTTT. , seconded by Alderman nnwnnnrr , moved that the rule requiring the reading of an ordinance or resolution in full on three different days be suspended and that the ordinance be placed on its second reading. The Mayor put the question on the adoption of the motion and the roll being called, the following voted aye: Honeycutt and the following voted nay: None Thereupon the Mayor declared that at least two- thirds of all members of the Council having voted in favor of the motion to suspend the rule, the motion was carried and the rule suspended. The ordinance was then read by the Alderman TETTT. , seconded by Alderman LE MAN , then moved that the rule requiring the reading of an ordinance in full on three different days be further suspended and that the ordinance be placed on its third reading. The Mayor put the question on the adoption of the motion and the roll being called the following voted aye: AT Anrman • Hi31 g er y, Ts nn r-a n f y , t 1 .. and Honeycutt and the following voted nay: Nona The Mayor declared that at least two- thirds of all members elected to the Council having voted in favor of the motion to suspend the rule, the motion was carried and the rule suspended. The ordinance was then read by the Qarsarmattitx Mayor ■ Paga 3 • Alderman 11212 , seconded by Alderman , moved that the ordinance be adopted. The TIONEYOUTT question was put by the Mayor on the adoption of the motion and the roll being called, the following voted aye: Aldessso• Ni11 Dau Adair., Wllson, Honeycutt and the following voted nay: None Alderman Hill , seconded by Alderman Ar..e,.att , moved that Section 7 , the emergency clause, be adopted, and on roll call the following voted aye: • Adair. Nilson. Honeycutt and the following voted nay: None The Mayor thereupon declared the ordinance and the emergency clause adopted and signed the ordinance, which was attested by the City Clerk and impressed with the seal of the City. The ordinance was given No. 302 . (Matters not relating to an ordinance authorizing hospital revenue bonds are omitted.) There being no further business , the Coun•'1 adjourned tie dr M • yor ATTEST: City Cyirk (SEAL) • • • • CERTIFICATE The undersigned, City Clerk of the City of Jacksonville, Arkansas, hereby certifies that the foregoing pages numbered from 1 to 3, inclu- sive, are a true and correct copy of excerpts of the minutes of a meeting of the City Council of Jacksonville , Arkansas, at a regular session held at the regular meeting place of the Council in the City at 700 p .m. , on the a day of , 1973, and the time and place of the meeting was furnished to each person who made a request therefor in accordance with the provisions of Act No. 93 of the Acts of Arkansas of 1967. C. y.t4 City C1e9 (SEAL) • J 4