0420 RESOLUTION N0. 420 (43 -90)_
A RESOLUTION AUTHORIZING A MEMORANDUM OF INTENT BY AND BETWEEN
THE CITY OF JACKSONVILLE, ARKANSAS, AND REGAL WARE, INC. PERTAIN—
ING TO THE ISSUANCE OF INDUSTRIAL DEVELOPMENT REVENUE BONDS FOR
FINANCING THE CO5T5 OF ACQUIRING, CONSTRUCTING AND EQUIPPING
INDUSTRIAL FACILITIES; AND PRESCRIBING OTHER MATTERS RELATING
1HERE10.
BE IT RESOLVED by the City Council of the City of Jackson—
ville, Arkansas:
Section 1. 'That there be, and there is hereby authorized
the execution and delivery of a Memorandum of Intent by and
between the City of Jacksonville, Arkansas (the "Municipality "),
and Regal Ware, inc., a Wisconsin corporation (the "Company "),
and the Mayor and the City Clerk be, and they are hereby, author—
ized to execute and deliver the Memorandum of Intent for and on
behalf of the Municipality. The Memorandum of Intent is approved
in substantially the form submitted to this meeting, the Mayor is
hereby authorized to confer with the Company in order to complete
the Mernorandurn of Intent in substantially the form submitted to
this meeting with such changes as shall be approved by such
Persons executing the document, their execution to constitute
conclusive evidence of such approval.
Section 2. That the Mayor and City Clerk be, and they are
hereby authorized and directed, for and on behalf of the Munici—
pality, to do all things, execute all instruments and otherwise
take all action necessary to the realization of the Municipali—
ty's obligations under the Memorandum of Intent.
PASSED, ( 7 (_l(/Lai / , 1990.
ATTEST: APPROVED:
V 1/ /*.i—et C4-14,1.42../
City Clerk Mayor
(SEAL)