Notice is hereby given by the City of Cotter, Arkansas (the “City”) that the City proposes to issue its Sales and Use Tax and Water and Sewer Revenue Bond (the “bond”) in the maximum principal amount of $1,551,000 for the purpose of financing a portion of the costs of betterments and improvements to the City’s sewer system. The bond will be payable from (1) collections of 1% sales and use tax levied by the City under Ordinance No. 2020-05, adopted January 28, 2021, and (2) revenues derived from the operation of the City’s water and sewer system. A public hearing concerning the proposed issuance of the bond will be held by the City Council at 6:00 o’clock p.m. on the 5th day of October, 2023, at the regular meeting place of the Council, 115 McLean Avenue, Cotter, Arkansas. At the public hearing, all interested persons shall have an opportunity to be heard concerning the proposed issuance of the bond. Posted in Baxter Bulletin on September 18, 2023.
Following the Public Hearing, Council to consider passage of Ordinance 2023-05: An ordinance authorizing the acquisition, construction and equipping of betterments and improvements to the sewer system of the City of Cotter, Arkansas; authorizing the issuance of a sales and use tax and water and sewer revenue bond for the purpose of financing a portion of the cost of the construction; providing for the payment of the principal and interest on the bond; and prescribing other matters relating thereto.
