0647 RESOLUTION NO. 647 ( #9 - 2010)
A RESOLUTION OF INTENT DESIGNATING AND AUTHORIZING JACKSONVILLE
II WATER COMMISSION, D/ B /A JACKSONVILLE WATER WORKS, TO IMPLEMENT
AND SUPPORT THE JACKSONVILLE WATER WORKS SYSTEM IMPROVEMENT
PROJECT, AGREEMENT NO, 00798-DWSRF-L; AND, FOR OTHER PURPOSES.
WHEREAS, the Jacksonville Water Commission, d /b /a Jacksonville Water Works,
(JWW) proposes to acquire, construct, and complete improvements to the City's Water
System (the "Project "), described to include but not be limited to upgrading Jacksonville
Water Work's SCADA system through installation of a new telemetry system, operating
system, and hardware, installation of approximately Twenty Thousand Linear Feet
(20,000 LF) of new Twenty-four inch (24 ") water line, Ten Thousand Linear Feet
(10,000 LF) of new Eighteen inch (18") water line, a master meter station, new altitude
valves at existing tanks, new connections to existing facilities, installation of
approximately Nineteen Thousand Six Hundred Linear Feet (19,600 LF) of new Eighteen
Inch (18") water line, approximately Nine Hundred Feet (900') of Twenty-four inch (24")
water line, a new altitude valve at an existing tank, new connections to existing facility,
construction of a new Three Million Gallon (3MG) composite elevated water storage tank
} along with approximately Seven Thousand Three Hundred Linear Feet (7,300 LF) of new
Twenty-four inch (24") water line, and new connections to existing facilities;
WHEREAS, estimated costs of the Project and relevant paying expenses are
approximately Twenty-five Million Dollars ($25,000,000.00). Because the Commission
does not have funds on hand to pay the costs of the Project and expenses, the
Commission proposes to obtain funds to accomplish the Project and to pay expenses
from tax- exempt bonds issued by the City of Jacksonville, Arkansas, sold through an
underwriter or to a bank or a govemmental entity (the "City Bonds "), and paid through
the operating revenues of the Jacksonville Water Works;
WHEREAS, the principal amount of the City Bonds allocated to the Project and
expenses will not exceed Twenty Five Million Dollars ($25,000,000.00), and the
proceeds of the City Bonds will be made available to the Commission through the
issuance by the City and sale to one (1) or more of the entities listed above of an
evidence of indebtedness of the City of Jacksonville, by and through the Jacksonville
Water Commission, in the form of a bond; and,
WHEREAS, the purpose of this Resolution is for the City Council to support the
Jacksonville Water Works in its request declaring its "official intent" for the Issuance of
the City Bonds described herein within the meaning of United States Treasury
Regulation §1.150 -2.
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RESOLUTION NO. 647 (#9 — 2010)
PAGE TWO
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CIlY OFJACKSONVILLE, ARKANSAS, THAT:
SECTION ONE: The Jacksonville City Council hereby supports the Water
Commission in its request and intent to advance its own funds to pay the costs of the
Project and expenses and to reimburse itself from the proceeds of the City Bonds for the
appropriate expenses and costs to do so.
SECTION TWO: A copy of both Resolutions with original signatures shall be
furnished by the Commission and the City Council to the Funding Entity. Said authority
shall be limited and controlled by the provisions of local ordinances, State law, and
Federal law.
SECTION THREE: Any and all Resolutions in conflict herewith are hereby
repealed to the extent of said conflict.
1 1 APPROVED AND ADOPTED THIS 6l' DAYOF MA Y, 2010.
CITYOFJAC ;- ONVILLE,AR NSAS
C 'R, AYOR
ATTEST:
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