Notice is hereby given that a public hearing will be held before the City Council of the City of Jonesboro, Arkansas (the "City") on the issuance by the City of capital improvement revenue bonds in the maximum aggregate principal amount of $18,500,000 (the "Bonds"). The Bonds will be secured by franchise fees collected by the City from public utilities.
The Bonds will be issued (a) to finance all or a portion of the costs of acquiring, constructing, furnishing and equipping various capital improvements, including particularly, without limitation, street improvements, park trail connection improvements, a new clubhouse at the Jonesboro Shooting Sports Complex and the E911 Dispatch and Real Time Crime Center, (b) to pay expenses of issuing the Bonds and (c) to provide a debt service reserve. The debt service reserve, in the maximum principal amount of $1,850,000, may be in the form of a surety bond, debt service reserve insurance policy or like instrument (the "Reserve Obligation") or may be in cash.
Any persons interested may express their views, both orally and in writing, on the proposed issuance of the Bonds and the Reserve Obligation before the City Council, on November 7, 2023 at 4:30 p.m., at the regular meeting place of the Council, 300 S. Church Street, Jonesboro, Arkansas. At such hearing all objections and suggestions will be heard and considered, and the City Council will take such action as is deemed proper in the premises.