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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)