The Docket · Government Meeting · DKT-2026-004423

On the agenda: Van Buren meeting — Data Center (Oct 26)

Past ⚠ Agenda Watch Van Buren, Arkansas · Monday, October 26, 2026 — 1 day ago

About this record

The published agenda for the October 26, 2026 meeting contains: "Data Center", "DATA Center", "Data center", "data center". The meeting has passed. The agenda stays here as a permanent public record.

WhenMonday, October 26, 2026
Check the agenda document for the meeting time.

WhereVan Buren, Arkansas

BodyZoning Ordinance Amendment for Data Centers

Money$200,000.00 was at stake

On the record“Data Center”“DATA Center”“Data center”“data center”“DATA CENTER”

The agenda — from the public record

Government public record — the text of the published document (large document; partial archive — read the original for the complete record), archived October 21, 2026. Gold highlighting of key terms is ours, not the original’s. Read the original document ↗

185 pages · scroll to read

Page 1 of 185

CITY COUNCIL MEETING
MONDAY – OCTOBER 26, 2026
CITY COUNCIL ROOM – 1003 BROADWAY STREET
__________________________________________________________________
AGENDA

1. Invocation
2. Roll Call
3. Consent Agenda:
•
•
•
•
•
•

Minutes from Monday, September 28, 2026, City Council Meeting
Appointment-Housing Authority Board of Commissioners-Darrel Peters
Resolution – Updating Online Banking
Ordinance – Amending Ordinance 02-2026 In-House Asphalt
Financial Statements
Department Reports: Police – Fire – Building – Street – Planning – Ambulance – Code
Enforcement – Van Buren Municipal Utilities

4. Ordinance - Authorizing the Issuance of Sales and Use Tax Bonds
5. Resolution – Entering into Contract with MAHG Architect, Inc
6. Resolution – Code Enforcement Tax Lien
7. Ordinance – Amending the Zoning Chapter of the Van Buren Municipal Code-Data Centers
8. Ordinance – Adopting a Zoning Ordinance Amendment Establishing Regulations for Short
Term Rentals
9. Miscellaneous and General Discussion:
•
10. Adjournment

Rebecca Colley-VBHS Junior-Local Gov’t

Page 2 of 185

City of Van Buren, Arkansas
Minutes of the Regular Meeting of the City Council
Monday, September 28, 2026
Van Buren Municipal Complex
CALL TO ORDER 5:30PM
The Regular Meeting of the Van Buren City Council was called to order by Mayor Joseph P.
Hurst at 5:30PM. Van Buren Police Chief Jonathan Wear led the invocation. Mayor Joseph P.
Hurst led the Pledge of Allegiance.

PRESENTATIONS - AWARDS
None

ROLL CALL 5:31PM
Present: Council Member Madison Simmons, Council Member Kody Morris, Council Member
Tonia Fry, Council Member Mike Kneeland, Mayor Joseph P. Hurst, Chief Deputy City ClerkTreasurer Erica Mowder
Absent: Council Member Tyler Wood
Open Positions: Council Member Matt Dodson

SPECIAL ANNOUNCEMENTS
None

CONSENT AGENDA 5:33PM
After determining there were no reported objections or unfinished business, Council Member
Mike Kneeland moved to approve the consent agenda which consisted of:
Minutes from Regular Meeting of the City Council August 22, 2026
Street Closure Request – Event – The Vault 10-6-2026
Appointment to Planning Commission – Jeramy Ransom
Resolution 09-01-2026 Temporary Revocable License Simmons
Ordinance 29-2026 Amending Ordinance 01-2026 In-House Concrete Purchase
Financial Statements

Page 3 of 185

Department Reports:
Police
Fire
Building

Public Works/Planning
Ambulance
Code Enforcement

Motion was seconded by Council Member Tonia Fry. Consent Agenda approved with a vote of
four yeas and zero nays. Mayor Hurst declared the consent agenda passed.

NEW BUSINESS 5:33PM
Resolution 09-02-2026 Enter into Contract for Construction Management
Services/Project Oversight for King Opera House Annex Project
Chief Deputy City Clerk-Treasurer Erica Mowder read the resolution in its entirety.
Mayor Joseph P. Hurst stated that he was excited to get to work with Beshears and that they
have a good track record of working in the community.
Rusty with Beshears was present but did not have any comments to add.
Mayor Joseph P. Hurst stated that there will be more council meetings regarding the project.
Motion to approve Resolution 09-02-2026 was made by Council Member Madison Simmons.
Seconded by Council Member Tonia Fry. Mayor Joseph P. Hurst asked Chief Deputy City ClerkTreasurer Erica Mowder to call roll.
Resolution 09-06-2026 Enter into Contract for Construction Management Services/Project
Oversight for King Opera House Annex Project was adopted with four yeas and zero nays.
Mayor Hurst declared the resolution passed and signed the same in open council, duly attested
by Chief Deputy City Clerk-Treasurer Mowder.

Ordinance Authorizing Issuance of Sales and Use Tax Bonds – DISCUSSION ONLY
Mayor Joseph P. Hurst stated that this item would not be voted on with this meeting. Due to
the bond market our consultants are recommending that we hit the pause button on executing
the purchase agreement.
Kevin Faught detailed the fluctuations of the bond market over the last few weeks. Kevin
stated that his office is monitoring the rates, waiting for them to stabilize and that when the
market conditions are more favorable the council may need to meet in a special meeting to
approve this sale.

Page 4 of 185

Council Member Mike Kneeland asked if there was a projected timeframe on when things
would settle down. Kevin said that he could not.
Council Member Tonia Fry asked if rates go down, would council be called in quickly. Kevin said
he hopes there would be a day or two of notice.
Council Member Kody Morris asked how this would impact the construction deadline. Mayor
Joseph P. Hurst stated that the city is continuing to work with the design team which will take a
while.

Ordinance 30-2026 Authorizing Private Club Permit Application for Peyton
Bullington
Chief Deputy City Clerk-Treasurer Erica Mowder read the resolution in its entirety. Council
Member Madison Simmons moved that the rules be suspended, and the ordinance be placed
on its second reading. The motion was seconded by Council Member Mike Kneeland, followed
by a unanimous vote by the council. The clerk read the ordinance the second time by title only.
Council Member Tonia Fry moved that the rules be further suspended, and the ordinance
placed on the third and final reading. The motion was seconded by Council Member Mike
Kneeland, followed by a unanimous vote by the council. The clerk then read the ordinance for
the third and final time by title only.
Mayor Joseph P. Hurst introduced Peyton Bullington. Mr. Bullington noted current locations in
Fort Smith and in Ozark. They are traditional Mexican restaurants open 11AM to 9PM, seven
days a week. There would be no outdoor events or loud music with a family-friendly
environment and a standard drink menu.
Motion to approve Ordinance 30-2026 was made by Council Member Tonia Fry. Seconded by
Council Member Mike Kneeland. Mayor Joseph P. Hurst asked Chief Deputy City ClerkTreasurer Erica Mowder to call roll.
Ordinance 30-2026 Authorizing Private Club Permit Application for Peyton Bullington was
adopted with four yeas and zero nays. Mayor Hurst declared the ordinance passed and signed
the same in open council, duly attested by Chief Deputy City Clerk-Treasurer Mowder.

Ordinance 31-2026 Annual Millage Tax Renewal
Chief Deputy City Clerk-Treasurer Erica Mowder read the resolution in its entirety. Council
Member Madison Simmons moved that the rules be suspended, and the ordinance be placed
on its second reading. The motion was seconded by Council Member Kody Morris, followed by
a unanimous vote by the council. The clerk read the ordinance the second time by title only.
Council Member Madison Simmons moved that the rules be further suspended, and the
ordinance placed on the third and final reading. The motion was seconded by Council Member

Page 5 of 185

Kody Morris, followed by a unanimous vote by the council. The clerk then read the ordinance
for the third and final time by title only.
Mayor Joseph P. Hurst stated that this is ordinance is something that must be done every year,
it is not a new tax, it is renewing the current millage tax.
Motion to approve Ordinance 31-2026 was made by Council Member Mike Kneeland. Seconded
by Council Member Tonia Fry. Mayor Joseph P. Hurst asked Chief Deputy City Clerk-Treasurer
Erica Mowder to call roll.
Ordinance 31-2026 Annual Millage Tax Renewal was adopted with four yeas and zero nays.
Motion to pass the emergency clause was made by Council Member Tonia Fry. Seconded by
Council Member Mike Kneeland. Mayor Joseph P. Hurst asked Chief Deputy City Clerk-Treasurer
Erica Mowder to call roll.
The emergency clause was passed with four yeas and zero nays.
Mayor Hurst declared the ordinance passed and signed the same in open council, duly attested
by Chief Deputy City Clerk-Treasurer Mowder.

MISCELLANOUS and GENERAL DISCUSSION 5:52PM
Bruce Hellar was present to discuss water flow issues at his property at 7 Westward Street.
There had been flooding issues at the back of his property in the past, and the city had done
some work. He is having problems again at the front of the property. The water has been
tested confirming it is not water provided by the city. Mayor Joseph P. Hurst said he would
review the previous files and get back with Bruce.
Charlene McDonough from the library was present and provided a flyer detailing the 2026
summer reading program for the Crawford County Library System. The statistics for Van Buren
have almost doubled since last year.

EXECUTIVE SESSION
Mayor Hurst explained that the City Council would be dismissing to go into Executive Session
and the audience was free to stay or could consider the meeting over.
City Council was dismissed and Executive Session began at 5:57PM.
City Council re-entered the council room and Executive Session was stopped at 6:10PM.

Page 6 of 185

Resolution 09-03-2026 Appoint New City Council Member – Matthew Hicks
Chief Deputy City Clerk-Treasurer Erica Mowder read the resolution in its entirety. Mayor
Joseph P. Hurst stated that Matthew Hicks is a great person, very involved in the community
and will be a great addition to the council.
Motion to approve Resolution 09-03-2026 Appoint New City Council Member Matthew Hicks
was made by Council Member Madison Simmons. Seconded by Council Member Tonia Fry.
Mayor Joseph P. Hurst asked Chief Deputy City Clerk-Treasurer Erica Mowder to call roll.
Resolution 09-03-2026 Appoint New City Council Member Matthew Hicks was adopted with
four yeas and zero nays. Mayor Hurst declared the resolution passed and signed the same in
open council, duly attested by Chief Deputy City Clerk-Treasurer Mowder.

MISCELLANEOUS 6:11PM
Council Member Tonia Fry wanted to brag on a young man from our community who, as part of his
Eagle Scout Project, installed two benches and 4 bird feeders at Lake Louemma with the help of David
Martin. His name is Samuel Morrison and she suggests everyone take a walk around the lake and see
what he did.

ADJOURNMENT 6:12PM
Council Member Madison Simmons made a motion to adjourn, seconded by Council Member
Tonia Fry. The motion passed with four yeas and zero nays. The Regular Meeting of the Van
Buren City Council Meeting was adjourned at 6:12PM.

ATTESTED:

APPROVED:

___________________________
Shawnna M. Reynolds
City Clerk-Treasurer

________________________
Joseph P. Hurst
Mayor

Page 7 of 185

CITY OF VAN BUREN, ARKANSAS
RESOLUTION NO. ___ - ___ - 2026
BE IT ENACTED BY THE CITY COUNCIL, FOR THE CITY OF VAN BUREN,
ARKANSAS, A RESOLUTION TO BE ENTITLED:
A RESOLUTION RELATING TO ONLINE BANKING
ACCESS FOR ALL FUNDS FOR THE CITY OF VAN
BUREN.
WHEREAS, The City Clerk-Treasurer’s office has current online banking access for all
funds and;
WHEREAS, The City Clerk-Treasurer’s office has need to acquire access to newly added
funds, as needed;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF VAN BUREN, ARKANSAS, THAT:
SECTION 1: Effective upon passage of this resolution, online access is authorized for all
necessary funds held by the City of Van Buren.
IN WITNESS WHEREOF, the City of Van Buren, Arkansas, by its City Council,
did pass, approve, and adopt, by a vote of ___ for and ___ against, the foregoing Resolution
at its regular meeting held on the 26th day of October 2026.
________________________________
Joseph P. Hurst
Mayor
ATTESTED:

APPROVED AS TO FORM:

_________________________________
Shawnna Reynolds
City Clerk/Treasurer

________________________________
Jacob Howell
City Attorney

Page 8 of 185

CITY OF VAN BUREN, ARKANSAS
ORDINANCE NO ___ - 2026
BE IT ENACTED BY THE CITY COUNCIL, FOR THE CITY OF VAN BUREN,
ARKANSAS, AN ORDINANCE TO BE ENTITLED:
AN ORDINANCE TO AMEND ORDINANCE 02-2026 TO
WAIVE COMPETITIVE BIDDING AND AUTHORIZE
ASHPALT PURCHASES FOR IN-HOUSE STREET REPAIR
PROJECTS, DECLARING AN EMERGENCY, AND FOR
OTHER PURPOSES
WHEREAS, the City of Van Buren desires to continue repairing streets within the City of
Van Buren; and
WHEREAS, the Van Buren City Council approved funds in the 2026 budget for in-house
street repair projects; and
WHEREAS, pursuant to A.C.A. 14-58-303(b)2(B), the Van Buren City Council has
determined that exceptional circumstances exist which render the competitive
bidding process to not be practical or feasible; and
WHEREAS, the City of Van Buren desires to purchase asphalt from APAC Central, Inc. and
was previously approved for up to the amount of $200,000.00 with Ordinance
02-2026 for said projects; and
WHEREAS, the cost of asphalt for 2026 in-house street repair projects is requested to be
increased from $200,000.00 to $300,000.00 and Ordinance 02-2026 is requested
to be amended.
NOW, THEREFORE, BE IT ORDIANED BY THE CITY COUNCIL OF THE CITY
OF VAN BUREN, ARKANSAS, THAT:
SECTION 1: The Street Department of the City of Van Buren, Arkansas has an immediate need
to purchase additional asphalt for in-house street repair projects.
SECTION 2: The City Council, in accordance with the terms of A.C.A. 14-58-303(b)2)(B),
hereby waives the requirement of competitive bidding and directs the Mayor and
City Clerk-Treasurer to purchase asphalt for in-house street repair projects.
SECTION 3: Due to the immediate need to purchase asphalt for in-house street repair projects an
emergency is declared to exist, and this ordinance being necessary for the
preservation of public health, safety, and welfare, it shall take effect from and after
its passage and approval.

Page 9 of 185

SECTION 4: The Mayor and City Clerk-Treasurer are hereby authorized by the City Council for
the City of Van Buren to pay all invoices, not to exceed $300,000.00 to APAC
Central Inc. from Capital Improvement and Street Funds relating to these projects,
and to execute all documents necessary to effectuate this Ordinance.
IN WITNESS WHEREOF, the City of Van Buren, Arkansas, by its City Council, did
pass, approve, and adopt, by a vote of ___ for and ___ against, the foregoing Resolution at its
regular meeting held on the 26th day of October 2026.
________________________________
Joseph P. Hurst
Mayor
ATTESTED:

APPROVED AS TO FORM:

_________________________________
Shawnna Reynolds
City Clerk/Treasurer

________________________________
Jacob Howell
City Attorney

Page 10 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF REVENUES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

10 -General Fund

ORIGINAL
BUDGET

REVENUES

CURRENT
BUDGET

MONTHLY
REVENUE

YEAR-TO-DATE
REVENUE

LAST YEAR
YEAR-TO-DATE

REVENUE
RECEIVABLE

%
RECEIVED

____________________________________________________________________________________________________________________________________

INTEREST
4000
Interest Earned
TOTAL INTEREST

425,000
425,000

1,732.95
1,732.95

342,441.06
342,441.06

410,100.93
410,100.93

82,558.94
82,558.94

80.57
80.57

345,000
710,000

21,791.19
71,628.24

270,741.23
429,761.59

273,671.96
352,642.13

74,258.77
280,238.41

78.48
60.53

TAXES
4100
4105

State General Turnback
Property Tax (CG)

4110
4111

Sales Tax Proceeds
City Alcohol Tax

8,400,000
65,000

738,254.17
5,513.46

6,544,398.95
50,310.88

6,618,431.38
51,105.41

1,855,601.05
14,689.12

77.91
77.40

4116
4117

Co. Sales Tax PD
Co. Sales Tax FD

492,000
492,000

46,751.36
46,751.36

408,043.03
408,043.03

402,188.27
402,188.27

83,956.97
83,956.97

82.94
82.94

4118
4120

75% County Sales Tax
Franchise Tax

2,952,000
2,240,000

280,508.17
218,472.77

2,448,258.34
1,722,883.27

2,413,129.59
1,722,014.89

503,741.66
517,116.73

82.94
76.91

15,696,000

1,429,670.72

12,282,440.32

12,235,371.90

3,413,559.68

78.25

DONATIONS
4217
ALL Donations

25,000

2,000.00

17,000.00

16,000.00

8,000.00

68.00

TOTAL DONATIONS

25,000

2,000.00

17,000.00

16,000.00

8,000.00

68.00

2,000

500.00

1,750.00

2,868.00

250.00

87.50

2,000

500.00

1,750.00

2,868.00

250.00

87.50

TOTAL TAXES

REVENUE
4260
Lot Sales-Cemetery
TOTAL REVENUE
COURT
4300

Court Fines

330,000

30,179.05

241,207.37

211,433.72

88,792.63

73.09

4301
4302

Jail Fees
Probation

45,000
70,000

4,721.38
3,226.67

36,797.97
23,405.69

35,843.73
22,631.08

8,202.03
46,594.31

81.77
33.44

4303
4305

Sex Offender Fee-Out of Town
Civil Small Claims

500
110,000

0.00
3,725.00

0.00
49,515.00

0.00
75,383.80

500.00
60,485.00

0.00
45.01

4310
4320

Administrative Justice Fund
Court Automation Fund

500,000
20,000

16,736.80
981.46

180,767.04
9,204.18

323,742.42
8,937.16

319,232.96
10,795.82

36.15
46.02

1,075,500

59,570.36

540,897.25

677,971.91

534,602.75

50.29

TOTAL COURT
GRANTS
4401

STEP Grant

0.00

4402
4407

School Resource Officer Progra
Vest Grant

750,000
6,000

0.00
2,303.87

660,000.00
4,897.28

332,500.00
0.00

90,000.00
1,102.72

88.00
81.62

4413
4428

Act 833
State Grant Funds

170,000
0

170,000
0 (

52,711.64
30,000.00)

141,689.74
0.00

138,254.83
75,603.87

28,310.26
0.00

83.35
0.00

4431
4433

Federal Grant Funds
Historic Dist CLG Grant

800,000
30,000

0.00
30,000.00

734,536.94
39,108.00

30,830.65
0.00 (

65,463.06
9,108.00)

91.82
130.36

0
1,756,000

613.33
55,628.84

48,012.14
1,628,244.10

0.00 (
577,189.35

48,012.14)
127,755.90

0.00
92.72

4434
PD Grant Revenue
TOTAL GRANTS

Page 11 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF REVENUES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

10 -General Fund

ORIGINAL
BUDGET

REVENUES

CURRENT
BUDGET

MONTHLY
REVENUE

YEAR-TO-DATE
REVENUE

LAST YEAR
YEAR-TO-DATE

REVENUE
RECEIVABLE

%
RECEIVED

____________________________________________________________________________________________________________________________________
PERMITS/FEES
4500
Business License

130,000

225.00

85,892.50

44,107.50

66.07

200
1,200

40.00
100.00

240.00
465.00

160.00 (
1,100.00

40.00)
735.00

120.00
38.75

1,500
105,000

0.00
16,629.75

930.00
124,454.77

1,085.00
88,153.79 (

570.00
19,454.77)

62.00
118.53

Rezone/Variance/Conditional
Erosion Control

3,000
3,300

0.00
75.00

2,400.00
850.00

1,315.00
1,550.00

600.00
2,450.00

80.00
25.76

4508
4510

ACIEA Tax-Act 474
Pet Licenses

6,500
5,700

1,392.00
400.00

4,777.90
4,025.00

2,585.30
2,760.00

1,722.10
1,675.00

73.51
70.61

4515
4516

Garage Sales
Bonds-Subdivison

5,000
500

345.00
0.00

2,610.00
250.00

3,030.00
300.00

2,390.00
250.00

52.20
50.00

4517
4519

Bond Fees
Accident/Fingerprint

7,500
14,000

620.00
452.00

3,040.00
5,342.00

2,860.00
6,198.00

4,460.00
8,658.00

40.53
38.16

234,000
517,400

19,825.00
40,103.75

177,625.00
412,902.17

176,835.00
393,714.59

56,375.00
104,497.83

75.91
79.80

0.00
0.00

15,000.00
0.00

0.00
0.00

4501
4502

Certificate of Appropriateness
Review Plat Fees

4504
4505

Sign Fees-Bldg Dept
Inspection Fees

4506
4507

4533
Yard Waste-Revenue
TOTAL PERMITS/FEES

105,782.50

REIMBURSEMENT REVENUE
4601
4602

Insurance Reimbursement-PD
Insurance Reimbursement-FD

15,000
0

0.00
0.00

4603
4606

Property Clean Up
County Court Reimbursement

2,000
400,000

1,554.68
33,333.34

3,478.09
299,999.98

0.00 (
300,000.01

1,478.09)
100,000.02

173.90
75.00

227,160
644,160

3,908.82
38,796.84

164,549.83
468,027.90

170,836.02
470,836.03

62,610.17
176,132.10

72.44
72.66

75,000
2,500

11,279.37
135.00

108,991.62
750.00

99,237.05 (
766.07

33,991.62)
1,750.00

145.32
30.00

500
150

0.00
0.00

500.00
150.00

0.00
0.00

4611
Employee Portion-Ins
TOTAL REIMBURSEMENT REVENUE
MISCELLANEOUS
4700
4704

Misc. Admin.
Warrant Service Fees

4706
4707

Child Protection Program
Interpreter Fee

4708
4710

Court Miscellaneous
Oil & Gas Lease

10,000
3,500

464.17
141.49

5,296.25
1,720.54

8,468.56
1,453.47

4,703.75
1,779.46

52.96
49.16

4711
4712

Restitution
Misc. - P.D.

5,000
51,000

0.00
6,529.19

475.00
42,831.38

0.00
58,330.29

4,525.00
8,168.62

9.50
83.98

4713
4721

Misc.-F.D.
Credit Card Processing Fee

72,000
1,500

224.38
0.00

7,422.94
0.00

6,677.66
0.00

64,577.06
1,500.00

10.31
0.00

4722
4724

Haz Mat Tech
DC-VBSD Expense Recovery

11,675
16,100

0.00
1,187.56

0.00
11,144.43

11,618.50
11,606.04

11,675.00
4,955.57

0.00
69.22

4731
4790

Misc.-Parks & Rec.
Keep Van Buren Beautiful

25,000
3,500

411.10
0.00

16,263.26
0.00

10,000.00
0.00

8,736.74
3,500.00

65.05
0.00

4791
4792

Misc.-Capital Improvements
VB Housing Authority-Pilot

105,000
1,200

950,341.04
0.00

40,045.26 (
0.00

845,341.04)
1,200.00

905.09
0.00

4796

Levee Payment

2,500

0.00

2,500.00

0.00

Page 12 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF REVENUES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

10 -General Fund

REVENUES

ORIGINAL
BUDGET

CURRENT
BUDGET

MONTHLY
REVENUE

YEAR-TO-DATE
REVENUE

LAST YEAR
YEAR-TO-DATE

REVENUE
RECEIVABLE

%
RECEIVED

____________________________________________________________________________________________________________________________________
4797
Sales & Use Tax Rebate
10,000
10,000
0.00
8,596.20
3,022.57
1,403.80
85.96
TOTAL MISCELLANEOUS
TRANSFERS IN
4801
Transfer In FROM Other Funds
TOTAL TRANSFERS IN
TOTAL REVENUES

396,125

970,713.30

1,153,832.66

251,225.47 (

757,707.66)

291.28

0.00

655,550.00

625,000.00 (

655,550.00)

0.00

655,550.00

625,000.00 (

655,550.00)

0.00

20,537,185
============

2,598,716.76
=============

17,503,085.46
=============

3,034,099.54
=============

85.23
=======

15,660,278.18
=============

Page 13 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF EXPENDITURES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

10 -General Fund
City Attorney
ORIGINAL
BUDGET

EXPENDITURES

CURRENT
BUDGET

MONTHLY
EXPENDITURE

YEAR-TO-DATE
EXPENDITURE

LAST YEAR
YEAR-TO-DATE

BALANCE
REMAINING

%
EXPENDED

____________________________________________________________________________________________________________________________________
5-10-4010-00 Salaries
5-10-4015-00 Longevity (LONG)

61,000
520

5,046.24
15.00

45,416.16
120.00

41,934.42
75.00

15,583.84
400.00

74.45
23.08

5-10-4017-00 Christmas Bonus
5-10-4020-00 FICA Expense

100
3,900

0.00
150.34

0.00
2,554.82

0.00
2,486.46

100.00
1,345.18

0.00
65.51

5-10-4021-00 Medicare Expense
5-10-4025-00 SUTA

1,000
60

35.15
0.00

597.37
14.00

581.52
12.87

402.63
46.00

59.74
23.33

5-10-4030-00 Group Insurance
5-10-4035-00 Retirement

23,100
9,350

1,921.78
404.69

17,296.02
6,877.45

17,296.02
6,732.90

5,803.98
2,472.55

74.87
73.56

5-10-4040-00 Computer Service & Supply
5-10-4110-00 Workers Comp

1,000
0

0.00
0.00

0.00
385.83

1,000.00
0.00

0.00
0.00

5-10-4121-00 Advertising
5-10-4122-00 Attorney Fees

200
85,000

0.00
5,588.00

0.00
53,380.00

0.00
32,557.75

200.00
31,620.00

0.00
62.80

5-10-4130-00 Postage
5-10-5045-00 Utilities & Telephones

100
4,200

0.00
0.00

0.00
3,596.83

100.00
4,200.00

0.00
0.00

5-10-5062-00 Office Supplies
5-10-5070-00 Miscellaneous

5,600
500

236.33
0.00

3,181.16
0.00

7,168.04
0.00

2,418.84
500.00

56.81
0.00

5-10-5096-00 Rental Expense
5-10-6000-00 Travel & Convention

18,000
500

1,500.00
0.00

13,500.00
0.00

9,000.00
0.00

4,500.00
500.00

75.00
0.00

TOTAL City Attorney

214,130

14,897.53

142,936.98

121,827.64

71,193.02

66.75

============

=============

=======

Page 14 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF EXPENDITURES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

10 -General Fund
Administration
ORIGINAL
BUDGET

EXPENDITURES

CURRENT
BUDGET

MONTHLY
EXPENDITURE

YEAR-TO-DATE
EXPENDITURE

LAST YEAR
YEAR-TO-DATE

BALANCE
REMAINING

%
EXPENDED

____________________________________________________________________________________________________________________________________
5-11-4010-00 Salaries
5-11-4012-00 Employee Payout

380,000
0

32,158.48
0.00

290,126.32
0.00

89,873.68
0.00

76.35
0.00

850
300

105.00
0.00

885.00
0.00

35.00)
300.00

104.12
0.00

5-11-4020-00 FICA Expense
5-11-4021-00 Medicare Expense

20,000
5,000

995.69
232.87

16,844.89
3,939.69

17,199.66
4,022.36

3,155.11
1,060.31

84.22
78.79

5-11-4025-00 SUTA
5-11-4030-00 Group Insurance

200
300,000

0.00
23,571.08

56.00
213,760.62

58.71
215,098.24

144.00
86,239.38

28.00
71.25

5-11-4035-00 Retirement
5-11-4040-00 Computer Service, Supply &

64,000
110,000

2,736.87
7,712.92

46,517.67
95,504.94

47,857.56
76,537.66

17,482.33
14,495.06

72.68
86.82

5-11-4050-00 Mayor's Car Expenses
5-11-4050-01 City Clerk-Car Expense

10,000
3,000

833.32
250.00

7,499.88
2,250.00

2,500.12
750.00

75.00
75.00

5-11-4070-00 Contributions
5-11-4110-00 Worker's Comp Insurance

40,000
0

0.00
0.00

20,000.00
0.00

20,163.88
815.97

20,000.00
0.00

50.00
0.00

5-11-4111-00 Property Insurance
5-11-4121-00 Advertising S.W. & Courier

57,587
10,000

0.00
866.28

57,586.31
7,811.33

52,442.97
3,302.22

0.69
2,188.67

100.00
78.11

5-11-4130-00 Postage
5-11-5045-00 Utilities & Telephones

6,000
33,000

2,250.63
3,504.23

3,880.22
21,137.27

1,446.83
26,302.42

2,119.78
11,862.73

64.67
64.05

5-11-5048-00 Cellular Telephones
5-11-5055-02 Property Cleanup

5,000
10,000

350.64
9,130.00

3,978.89
9,350.00

3,524.45
15,105.00

1,021.11
650.00

79.58
93.50

5-11-5062-00 Office Supplies
5-11-5070-00 Miscellaneous

13,750
63,000

208.95
36.35

6,525.58
49,937.93

6,244.98
20,719.54

7,224.42
13,062.07

47.46
79.27

5-11-5071-00 Credit Card Processing Fee
5-11-5090-00 Dues & Subscriptions

1,800
66,500

0.00
175.00

2,378.78
44,604.49

1,145.07 (
14,023.43

578.78)
21,895.51

132.15
67.07

5-11-5091-00 Economic Development
5-11-5095-00 Travel/Training

25,000
6,500

0.00
0.00

25,000.00
525.00

25,000.00
6,500.00

0.00
0.00

5-11-9010-00 Fixed Assets
5-11-9020-00 Transfer Out General

1,000
0

0.00
0.00

1,000.00
0.00

0.00
0.00

5-11-4015-00 Longevity (L2 and LONG)
5-11-4017-00 Christmas Bonus

TOTAL Administration

282,027.60
0.00
705.00 (
0.00

1,232,487

85,118.31

904,575.81

844,018.43

327,911.19

73.39

============

=============

=======

Page 15 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF EXPENDITURES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

10 -General Fund
Police Department
ORIGINAL
BUDGET

EXPENDITURES

CURRENT
BUDGET

MONTHLY
EXPENDITURE

YEAR-TO-DATE
EXPENDITURE

LAST YEAR
YEAR-TO-DATE

BALANCE
REMAINING

%
EXPENDED

____________________________________________________________________________________________________________________________________
5-12-4010-00 Salaries
5-12-4011-00 Overtime

3,200,296
60,000

267,299.82
5,099.05

2,393,754.55
55,266.83

5-12-4012-00 Employee Payout
5-12-4013-00 FTO Expense

50,000
2,000

3.39
900.00

18,261.44
5,250.00

5-12-4015-00 Longevity (LONG)
5-12-4017-00 Christmas Bonus

35,000
6,000

2,530.00
0.00

5-12-4019-00 Incentive Pay
5-12-4020-00 FICA Expense

80,000
198,420

5-12-4021-00 Medicare Expense
5-12-4025-00 SUTA

46,500
2,000

5-12-4030-00 Group Insurance
5-12-4035-00 Retirement

806,541.45
4,733.17

74.80
92.11

6,867.91
1,650.00 (

31,738.56
3,250.00)

36.52
262.50

23,360.00
0.00

23,060.00
0.00

11,640.00
6,000.00

66.74
0.00

7,712.50
8,470.33

72,662.50
144,462.77

67,987.50
137,606.13

7,337.50
53,957.23

90.83
72.81

46,500
2,000

1,980.97
0.00

33,788.82
886.11

32,181.92
885.66

12,711.18
1,113.89

72.66
44.31

745,200
736,100

63,289.01
64,278.68

582,162.84
595,446.88

551,882.55
527,568.75

163,037.16
140,653.12

78.12
80.89

5-12-4040-00 Computer Service,Supply &
5-12-4110-00 Workers Comp.

195,000
53,760

19,362.27
0.00

221,201.90
53,757.11

173,764.75 (
53,048.53

26,201.90)
2.89

113.44
99.99

5-12-4111-00 Property Insurance
5-12-4121-00 Advertising

17,299
1,500

0.00
0.00

17,298.21
0.00

15,725.65
208.95

0.79
1,500.00

100.00
0.00

5-12-4130-00 Postage
5-12-4141-00 Sanitation

1,250
1,800

0.00
104.74

500.69
1,218.18

740.85
1,253.19

749.31
581.82

40.06
67.68

5-12-5030-00 Vehicle Repairs/Maint.
5-12-5035-00 Vehicle Gasoline

85,000
115,000

3,503.68
14,858.95

73,995.11
106,663.16

71,560.15
85,906.32

11,004.89
8,336.84

87.05
92.75

5-12-5042-00 Uniforms & Accessories Exp
5-12-5042-01 2nd Year Plus- Uniform All

30,000
50,000

1,118.34
3,485.70

30,483.76
43,623.77

19,972.38 (
39,109.41

483.76)
6,376.23

101.61
87.25

5-12-5045-00 Utilities & Telephones
5-12-5048-00 Cellular Telephones

60,000
21,000

6,035.90
1,992.75

44,654.71
19,600.94

52,716.25
16,501.46

15,345.29
1,399.06

74.42
93.34

5-12-5055-00 Building Maintenance
5-12-5058-00 Lease/Rentals

25,000
0

1,001.62
0.00

28,966.52
0.00

22,446.41 (
0.00

3,966.52)
0.00

115.87
0.00

5-12-5061-00 Restitution
5-12-5062-00 Office Supplies

0
23,000

0.00
753.20

0.00
17,082.49

0.00
11,591.16

0.00
5,917.51

0.00
74.27

5-12-5070-00 Miscellaneous
5-12-5075-00 Vehicle Insurance

12,000
15,000

332.85
0.00

6,194.52
11,673.31

8,315.92
12,394.58

5,805.48
3,326.69

51.62
77.82

5-12-5080-00 Prisoner Care-Jail
5-12-5082-00 Crawford County 911

215,000
69,660

23,200.00
34,827.00

132,960.00
104,248.82

178,297.50
34,827.00 (

82,040.00
34,588.82)

61.84
149.65

5-12-5085-60 ARPA Expense
5-12-5090-00 Dues & Subscription

0
25,000

0.00
183.50

0.00
23,030.40

239,762.11
20,458.70

0.00
1,969.60

0.00
92.12

5-12-5095-00 Travel/Training
5-12-5170-00 Firing Range

24,500
1,000

1,643.67
0.00

27,296.64
518.65

15,449.38 (
1,021.89

2,796.64)
481.35

111.41
51.87

5-12-5182-00 Child Protection Exp
5-12-6005-00 Chemical Analysis

2,000
2,500

0.00
310.00

0.00
1,796.00

0.00
2,482.75

2,000.00
704.00

0.00
71.84

5-12-6010-00 Police Equipment
5-12-6032-00 Police K-9-Miscellaneous

100,000
1,500

2,921.05
0.00

80,103.91
131.00

109,776.98
2,791.00

19,896.09
1,369.00

80.10
8.73

5-12-6035-00 Special Response Team
5-12-6036-18 Sales Tax Expense

4,000
215,000

0.00
0.00

212.43
312.00

1,724.23
39,346.63

3,787.57
214,688.00

5.31
0.15

282.00

42,640.71

42,640.71)

0.00

5-12-6040-00 PD Grant Expense

2,163,753.91
45,949.08

0.00 (

Page 16 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF EXPENDITURES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

10 -General Fund
Police Department

EXPENDITURES

ORIGINAL
BUDGET

CURRENT
BUDGET

MONTHLY
EXPENDITURE

YEAR-TO-DATE
EXPENDITURE

LAST YEAR
YEAR-TO-DATE

BALANCE
REMAINING

%
EXPENDED

____________________________________________________________________________________________________________________________________
TOTAL Police Department

6,528,285
============

537,480.97
=============

5,015,467.68
=============

4,790,587.54
=============

1,512,817.32
=============

76.83
=======

Page 17 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF EXPENDITURES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

10 -General Fund
Fire Department
ORIGINAL
BUDGET

EXPENDITURES

CURRENT
BUDGET

MONTHLY
EXPENDITURE

YEAR-TO-DATE
EXPENDITURE

LAST YEAR
YEAR-TO-DATE

BALANCE
REMAINING

%
EXPENDED

____________________________________________________________________________________________________________________________________
5-13-4010-00 Salaries
5-13-4010-01 Firemen-FLSA Overtime

2,800,000
54,000

229,270.22
4,888.84

2,086,409.64
47,161.50

2,008,738.20
44,435.32

713,590.36
6,838.50

74.51
87.34

5-13-4011-00 Overtime
5-13-4012-00 Employee Payout

100,000
30,000

2,163.11
0.00

63,944.13
2,649.66

80,941.46
4,945.46

36,055.87
27,350.34

63.94
8.83

5-13-4015-00 Longevity (LONG)
5-13-4017-00 Christmas Bonus

36,000
5,200

3,265.00
0.00

28,812.50
0.00

27,030.00
0.00

7,187.50
5,200.00

80.03
0.00

5-13-4018-00 Hazmat
5-13-4019-00 Incentive Pay

21,000
86,700

1,480.00
6,912.50

13,320.00
63,075.00

13,260.00
61,897.50

7,680.00
23,625.00

63.43
72.75

5-13-4021-00 Medicare Expense
5-13-4024-00 Uniform Allowance

45,000
55,000

1,681.49
11,475.00

30,858.56
34,875.00

31,919.85
34,232.64

14,141.44
20,125.00

68.57
63.41

5-13-4025-00 SUTA
5-13-4030-00 Group Insurance

2,000
706,000

0.00
57,824.05

731.31
522,898.07

788.68
523,418.18

1,268.69
183,101.93

36.57
74.06

5-13-4031-00 Medical Expenses
5-13-4035-00 Retirement-Employers Contr

5,000
840,000

170.00
60,755.02

1,878.49
654,361.49

4,072.89
637,629.42

3,121.51
185,638.51

37.57
77.90

5-13-4040-00 Computer Services, Supply
5-13-4110-00 Workers Comp.

36,800
89,000

3,020.85
0.00

19,248.72
88,991.45

18,635.48
78,484.76

17,551.28
8.55

52.31
99.99

5-13-4111-00 Property Insurance
5-13-4130-00 Postage

19,503
250

0.00
19.27

19,502.38
51.79

17,219.89
0.00

0.62
198.21

100.00
20.72

5-13-4141-00 Sanitation
5-13-5030-00 Vehicle Repairs/Maint.

9,500
26,000

2,597.99
76.85

7,518.93
5,755.71

7,616.74
5,280.08

1,981.07
20,244.29

79.15
22.14

5-13-5035-00 Fuel
5-13-5042-00 Uniforms & Accessories Exp

33,000
3,500

4,215.27
60.88

30,132.96
155.90

21,458.11
1,528.67

2,867.04
3,344.10

91.31
4.45

5-13-5045-00 Utilities & Telephones
5-13-5048-00 Cellular Telephones

60,000
8,000

7,881.01
666.30

52,688.02
6,514.95

52,053.37
5,794.18

7,311.98
1,485.05

87.81
81.44

5-13-5055-00 Building Maintenance
5-13-5062-00 Office Supplies

20,000
2,000

805.96
67.90

21,252.49
844.72

118,532.99 (
1,327.01

1,252.49)
1,155.28

106.26
42.24

5-13-5070-00 Miscellaneous
5-13-5075-00 Vehicle Insurance

6,000
40,000

3,104.27
0.00

5,983.58
38,986.51

6,388.80
33,148.78

16.42
1,013.49

99.73
97.47

5-13-5090-00 Dues & Subscriptions
5-13-5095-00 Schools/Training

2,000
18,000

0.00
36.20

225.00
5,877.02

2,041.82
12,132.41

1,775.00
12,122.98

11.25
32.65

5-13-6000-00 Travel & Convention
5-13-6010-00 Fire Equip Exp

2,500
23,000

0.00
448.09

3,349.07
12,569.97

236.48 (
25,466.16

849.07)
10,430.03

133.96
54.65

5-13-6012-00 Fire Apparatus
5-13-6014-00 Fire Prevention/Inspect/In

35,000
4,000

165.54
3,525.90

33,087.39
4,496.11

28,376.58
4,543.55 (

1,912.61
496.11)

94.54
112.40

5-13-6036-19 Sales Tax Expense
5-13-6195-00 Radio Equipment Repair

464,000
8,000

193.39
0.00

410,978.46
3,559.15

109,160.25
2,018.53

53,021.54
4,440.85

88.57
44.49

5-13-6202-00 Fire Safety House
5-13-6210-00 Act 833 Expense

350
170,000

0.00
575.51

0.00
75,321.97

0.00
383,775.06

350.00
94,678.03

0.00
44.31

0.00

51,600.00

0.00

5,866,303
============

407,346.41
=============

4,398,067.60
=============

4,460,129.30
=============

1,468,235.40
=============

74.97
=======

5-13-6211-00 Loan Payment-Fire Truck
TOTAL Fire Department

Page 18 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF EXPENDITURES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

10 -General Fund
District Court
ORIGINAL
BUDGET

EXPENDITURES

CURRENT
BUDGET

MONTHLY
EXPENDITURE

YEAR-TO-DATE
EXPENDITURE

LAST YEAR
YEAR-TO-DATE

BALANCE
REMAINING

%
EXPENDED

____________________________________________________________________________________________________________________________________
5-14-4010-00 Salaries
5-14-4010-01 Salaries-Judge

488,000
0

40,756.00
0.00

368,285.69
0.00

306,259.93
27,538.36

119,714.31
0.00

75.47
0.00

5-14-4011-00 Overtime
5-14-4012-00 Employee Payout

3,500
5,000

0.00
0.00

0.00
2,650.56

0.00
0.00

3,500.00
2,349.44

0.00
53.01

5-14-4015-00 Longevity (LONG and ML)
5-14-4017-00 Christmas Bonus

2,200
1,200

65.00
0.00

700.00
0.00

480.00
0.00

1,500.00
1,200.00

31.82
0.00

5-14-4019-00 Incentive Pay
5-14-4020-00 FICA Expense

900
30,500

75.00
1,270.44

375.00
21,303.24

0.00
18,380.99

525.00
9,196.76

41.67
69.85

5-14-4021-00 Medicare Expense
5-14-4025-00 SUTA

7,250
500

297.11
0.00

4,982.18
184.93

4,298.65
159.11

2,267.82
315.07

68.72
36.99

5-14-4030-00 Group Insurance
5-14-4035-00 Retirement

120,000
76,000

10,199.43
3,217.28

93,276.31
53,431.27

82,346.39
46,684.95

26,723.69
22,568.73

77.73
70.30

5-14-4040-00 Computer Service,Supply &
5-14-4110-00 Workers Comp

50,000
300

3,810.24
0.00

31,897.57
0.00

32,660.23
610.97

18,102.43
300.00

63.80
0.00

5-14-4130-00 Postage
5-14-5035-00 Vehicle Maintenance

3,500
750

0.00
0.00

2,559.19
0.00

2,553.67
0.00

940.81
750.00

73.12
0.00

5-14-5045-00 Utilities & Telephones
5-14-5055-00 Building Improvements

50,100
25,000

4,614.81
244.29

37,269.57
17,987.29

36,628.44
11,888.10

12,830.43
7,012.71

74.39
71.95

5-14-5062-00 Office Supplies/Equipment
5-14-5062-01 Court Automation Expense

22,625
12,000

2,350.70
4,878.57

13,441.26
7,513.55

16,093.09
1,326.86

9,183.74
4,486.45

59.41
62.61

500
300

0.00
0.00

35.62
193.50

318.78
0.00

464.38
106.50

7.12
64.50

5-14-5090-00 Dues & Subscriptions
5-14-6000-00 Travel/Training

2,000
15,000

0.00
252.04

1,400.00
5,342.43

1,200.00
5,948.10

600.00
9,657.57

70.00
35.62

5-14-7035-00 Security
5-14-7036-00 DWI Court

9,500
8,000

2,085.42
700.73

5,914.32
10,210.78

22,947.89
3,899.21 (

3,585.68
2,210.78)

62.26
127.63

5-14-7037-00 Probation Court
5-14-7038-00 District Court Grant Expen

8,000
113,866

891.23
0.00

5,431.46
2,872.00

5,128.66
11,816.13

2,568.54
110,994.00

67.89
2.52

5-14-7100-00 Administrative Justice Fun

500,000

11,206.74

149,217.89

363,516.33

350,782.11

29.84

1,556,491
============

86,915.03
=============

836,475.61
=============

1,002,684.84
=============

720,015.39
=============

53.74
=======

5-14-5070-00 Miscellaneous
5-14-5075-00 Vehicle Insurance

TOTAL District Court

Page 19 of 185

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C I T Y
O F
V A N
B U R E N
STATEMENT OF EXPENDITURES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

10 -General Fund
Library
ORIGINAL
BUDGET

EXPENDITURES

CURRENT
BUDGET

MONTHLY
EXPENDITURE

YEAR-TO-DATE
EXPENDITURE

LAST YEAR
YEAR-TO-DATE

BALANCE
REMAINING

%
EXPENDED

____________________________________________________________________________________________________________________________________
5-15-5045-01 Utilities & Telephones-Lib
5-15-5055-01 Building Maintenance-Libra

50,000
24,000

4,061.40
796.69

33,313.61
13,142.96

27,506.16
29,928.75

16,686.39
10,857.04

66.63
54.76

5-15-5056-01 Cleaning Supplies-Library
5-15-5070-01 Miscellaneous-Library

3,000
500

0.00
0.00

734.39
0.00

764.57
397.07

2,265.61
500.00

24.48
0.00

5-15-7035-01 Janitorial Services

10,000

0.00

10,000.00

0.00

100.00

87,500
============

4,858.09
=============

57,190.96
=============

68,596.55
=============

30,309.04
=============

65.36
=======

TOTAL Library

Page 20 of 185

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C I T Y
O F
V A N
B U R E N
STATEMENT OF EXPENDITURES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

10 -General Fund
Senior Inn
ORIGINAL
BUDGET

EXPENDITURES

CURRENT
BUDGET

MONTHLY
EXPENDITURE

YEAR-TO-DATE
EXPENDITURE

LAST YEAR
YEAR-TO-DATE

BALANCE
REMAINING

%
EXPENDED

____________________________________________________________________________________________________________________________________
5-16-5045-00 Utilities- Senior Inn
5-16-5055-00 Building Maint. Senior Inn

30,000
3,000

2,683.81
675.09

21,679.70
5,966.87

5-16-5062-00 Senior Inn Supplies

1,000

0.00

34,000
============

3,358.90
=============

TOTAL Senior Inn

20,907.09
2,687.72 (

8,320.30
2,966.87)

72.27
198.90

226.58

367.08

773.42

22.66

27,873.15
=============

23,961.89
=============

6,126.85
=============

81.98
=======

Page 21 of 185

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C I T Y
O F
V A N
B U R E N
STATEMENT OF EXPENDITURES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

10 -General Fund
Old Town Merchants Assoc.
ORIGINAL
BUDGET

EXPENDITURES

CURRENT
BUDGET

MONTHLY
EXPENDITURE

YEAR-TO-DATE
EXPENDITURE

LAST YEAR
YEAR-TO-DATE

BALANCE
REMAINING

%
EXPENDED

____________________________________________________________________________________________________________________________________
5-17-5045-00 Utilities & Telephone
5-17-5055-00 Building Maintenance-OTM
5-17-5062-00 Supplies
TOTAL Old Town Merchants Assoc.

2,000
4,000

87.80
350.00

1,459.19
2,800.00

500

0.00

504.81

6,500
============

437.80
=============

4,764.00
=============

1,466.56
2,938.73
0.00 (
4,405.29
=============

540.81
1,200.00

72.96
70.00

4.81)

100.96

1,736.00
=============

73.29
=======

Page 22 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF EXPENDITURES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

10 -General Fund
Code Enforcement
ORIGINAL
BUDGET

EXPENDITURES

CURRENT
BUDGET

MONTHLY
EXPENDITURE

YEAR-TO-DATE
EXPENDITURE

LAST YEAR
YEAR-TO-DATE

BALANCE
REMAINING

%
EXPENDED

____________________________________________________________________________________________________________________________________
5-24-4010-00 Salaries
5-24-4012-00 Employee Payout

187,000
5,000

15,705.02
0.00

141,345.18
0.00

133,576.98
0.00

45,654.82
5,000.00

75.59
0.00

5-24-4013-00 KVBB
5-24-4015-00 Longevity (LONG)

13,000
3,200

2,000.00
270.00

9,250.00
2,385.00

10,550.00
2,340.00

3,750.00
815.00

71.15
74.53

5-24-4017-00 Christmas Bonus
5-24-4020-00 FICA Expense

400
11,000

0.00
474.03

0.00
8,328.49

0.00
8,427.17

400.00
2,671.51

0.00
75.71

5-24-4021-00 Medicare Expense
5-24-4025-00 SUTA

2,500
120

110.86
0.00

1,947.82
56.13

1,970.88
54.87

552.18
63.87

77.91
46.78

5-24-4030-00 Group Insurance
5-24-4035-00 Retirement

55,500
28,645

4,584.28
1,223.68

41,258.52
21,469.74

37,444.77
21,657.54

14,241.48
7,175.26

74.34
74.95

5-24-4040-00 Computer Service & Supply
5-24-4110-00 Workers Comp

3,200
1,851

0.00
0.00

2,401.46
1,850.30

2,024.21
2,620.00

798.54
0.70

75.05
99.96

5-24-4130-00 Postage
5-24-5030-00 Vehicle Repairs/Maintenanc

750
7,000

0.00
12.55

297.58
15,548.48

488.72
9,932.73 (

452.42
8,548.48)

39.68
222.12

5-24-5035-00 Vehicle Gasoline
5-24-5042-00 Uniforms and Accessories

7,000
3,400

802.61
0.00

5,712.15
1,448.42

4,752.32
3,469.31

1,287.85
1,951.58

81.60
42.60

5-24-5048-00 Cellular Telephones
5-24-5062-00 Office Supplies/Equipment

3,000
2,800

325.55
111.17

3,131.57
770.17

2,230.40 (
1,538.89

131.57)
2,029.83

104.39
27.51

5-24-5070-00 Miscellaneous
5-24-5075-00 Vehicle Insurance

1,200
1,800

32.00
0.00

393.26
990.77

365.05
839.52

806.74
809.23

32.77
55.04

5-24-5095-00 Travel/Training
5-24-6021-00 ACO-Electric

500
6,300

0.00
1,680.59

425.00
4,961.23

0.00
4,503.80

75.00
1,338.77

85.00
78.75

5-24-6023-00 ACO-Water
5-24-6024-00 ACO Shelter Maintenance

2,000
5,000

226.88
240.00

1,317.95
1,286.39

1,471.85
1,764.42

682.05
3,713.61

65.90
25.73

5-24-6026-00 ACO Landfill/Permits
5-24-6034-00 ACO-Animal Control Equipme

1,000
1,000

0.00
287.90

594.45
287.90

568.02
508.67

405.55
712.10

59.45
28.79

5-24-6036-00 ACO Veterinarian Expense
5-24-9010-00 Fixed Assets

1,000
53,000

0.00
0.00

209.50
45,823.50

0.00
23,000.00

790.50
7,176.50

20.95
86.46

TOTAL Code Enforcement

408,166

28,087.12

313,490.96

276,100.12

94,675.04

76.80

============

=============

=======

Page 23 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF EXPENDITURES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

10 -General Fund
Building Department
ORIGINAL
BUDGET

EXPENDITURES

CURRENT
BUDGET

MONTHLY
EXPENDITURE

YEAR-TO-DATE
EXPENDITURE

LAST YEAR
YEAR-TO-DATE

BALANCE
REMAINING

%
EXPENDED

____________________________________________________________________________________________________________________________________
5-25-4010-00 Salaries
5-25-4012-00 Employee Payout

97,921
0

8,159.98
0.00

73,439.82
0.00

71,300.70
0.00

24,481.18
0.00

75.00
0.00

5-25-4015-00 Longevity (LONG and L2)
5-25-4017-00 Christmas Bonus

1,500
200

155.00
0.00

1,365.00
0.00

1,275.00
0.00

135.00
200.00

91.00
0.00

5-25-4020-00 FICA Expense
5-25-4021-00 Medicare Expense

8,000
1,400

246.08
57.55

4,181.56
977.93

4,289.52
1,003.20

3,818.44
422.07

52.27
69.85

5-25-4025-00 SUTA
5-25-4030-00 Group Insurance

120
23,062

0.00
1,921.78

28.00
17,296.02

26.87
11,981.25

92.00
5,765.98

23.33
75.00

5-25-4035-00 Retirement
5-25-4040-00 Computer Service,Supply &

14,570
750

636.92
0.00

10,823.08
0.00

11,118.66
19.70

3,746.92
750.00

74.28
0.00

5-25-4110-00 Workers Comp
5-25-4125-00 Act 474

435
6,500

0.00
244.53

434.97
3,204.26

1,374.67
2,461.98

0.03
3,295.74

99.99
49.30

5-25-4126-00 Bldg. Permits Ded. to Side
5-25-4130-00 Postage

12,000
250

332.55
0.00

9,888.32
0.00

6,341.26
4.19

2,111.68
250.00

82.40
0.00

5-25-5030-00 Vehicle Repairs/Mtnce.
5-25-5035-00 Fuel

3,500
3,500

8.37
302.86

7,747.16
2,296.93

4,515.35 (
2,132.61

4,247.16)
1,203.07

221.35
65.63

5-25-5045-00 Utilities & Telephones
5-25-5048-00 Cellular Telephones

200
1,500

158.09
107.82

1,422.81
1,050.96

1,108.72 (
823.42

1,222.81)
449.04

711.41
70.06

5-25-5062-00 Office Supplies
5-25-5070-00 Miscellaneous

3,750
250

57.54
0.00

870.99
20.00

559.95
105.00

2,879.01
230.00

23.23
8.00

5-25-5075-00 Vehicle Insurance
5-25-5090-00 Dues & Subscriptions

500
800

0.00
0.00

388.65
185.00

388.65
339.09

111.35
615.00

77.73
23.13

5-25-6000-00 Travel & Convention

250

0.00

255.00

5.00)

102.00

180,958
============

12,389.07
=============

135,876.46
=============

45,081.54
=============

75.09
=======

TOTAL Building Department

0.00 (
121,169.79
=============

Page 24 of 185

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C I T Y
O F
V A N
B U R E N
STATEMENT OF EXPENDITURES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

10 -General Fund
Levee
ORIGINAL
BUDGET

EXPENDITURES

CURRENT
BUDGET

MONTHLY
EXPENDITURE

YEAR-TO-DATE
EXPENDITURE

LAST YEAR
YEAR-TO-DATE

BALANCE
REMAINING

%
EXPENDED

____________________________________________________________________________________________________________________________________
5-27-5070-00 Miscellaneous - Levee Exp.
5-27-7035-00 Contract Labor

0
1,950

0.00
0.00

0.00
1,400.00

0.00
550.00

0.00
71.79

TOTAL Levee

1,950

0.00

1,400.00

550.00

71.79

============

=============

=======

Page 25 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF EXPENDITURES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

10 -General Fund
Planning Department NEW
ORIGINAL
BUDGET

EXPENDITURES

CURRENT
BUDGET

MONTHLY
EXPENDITURE

YEAR-TO-DATE
EXPENDITURE

LAST YEAR
YEAR-TO-DATE

BALANCE
REMAINING

%
EXPENDED

____________________________________________________________________________________________________________________________________
5-28-4010-00 Salaries
5-28-4012-00 Employee Payout

122,467
25,000

7,804.16
0.00

81,870.39
0.00

88,773.75
0.00

40,596.61
25,000.00

66.85
0.00

5-28-4015-00 Longevity (L2)
5-28-4017-00 Christmas Bonus

500
200

25.00
0.00

375.00
0.00

125.00
200.00

75.00
0.00

5-28-4020-00 FICA Expense
5-28-4021-00 Medicare Expense

7,000
2,000

273.57
63.98

4,783.63
1,118.71

5,367.33
1,255.32

2,216.37
881.29

68.34
55.94

5-28-4025-00 SUTA
5-28-4030-00 Group Insurance

120
23,100

0.00
590.53

28.00
11,971.02

26.87
17,296.02

92.00
11,128.98

23.33
51.82

5-28-4035-00 Retirement
5-28-4040-00 Computer Service & Supplie

18,765
1,000

291.21
0.00

11,135.98
0.00

14,071.30
19.70

7,629.02
1,000.00

59.34
0.00

5-28-4050-00 Vehicle Allowance
5-28-4053-00 Engineering Services

3,000
10,000

0.00
0.00

1,500.00
11,440.00

2,250.00
2,843.75 (

1,500.00
1,440.00)

50.00
114.40

5-28-4110-00 Worker's Compensation
5-28-4121-00 Advertising

435
3,000

0.00
260.00

434.96
2,117.50

1,374.67
1,250.00

0.04
882.50

99.99
70.58

5-28-4122-00 Historic Dist
5-28-4130-00 Postage

30,000
750

0.00
0.00

42,002.96
277.54

11,666.50 (
179.48

12,002.96)
472.46

140.01
37.01

850
500

83.88
0.00

754.92
300.00

700.67
450.00

95.08
200.00

88.81
60.00

5-28-5062-00 Office Supplies & Equipmen
5-28-5070-00 Miscellaneous

6,000
500

429.95
25.00

3,530.72
39.04

2,937.14
70.00

2,469.28
460.96

58.85
7.81

5-28-5090-00 Dues & Subscriptions
5-28-5095-00 Travel/Training

2,700
3,250

0.00
0.00

304.50
0.00

150.00
0.00

2,395.50
3,250.00

11.28
0.00

750

0.00

750.00

0.00

261,887
============

9,847.28
=============

173,984.87
=============

151,057.50
=============

87,902.13
=============

66.44
=======

Grant Expen

5-28-5045-00 Utilities & Telephone
5-28-5048-00 Cell Phone Allowance

5-28-5096-00 Filing Fees
TOTAL Planning Department NEW

Page 26 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF EXPENDITURES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

10 -General Fund
Parks & Recreation
ORIGINAL
BUDGET

EXPENDITURES

CURRENT
BUDGET

MONTHLY
EXPENDITURE

YEAR-TO-DATE
EXPENDITURE

LAST YEAR
YEAR-TO-DATE

BALANCE
REMAINING

%
EXPENDED

____________________________________________________________________________________________________________________________________
5-31-4010-00 Salaries
5-31-4010-01 Contract Labor - Temp Empl

188,985
72,000

17,991.66
3,660.30

163,688.94
51,352.70

138,956.40
70,584.32

25,296.06
20,647.30

86.61
71.32

5-31-4011-00 Overtime
5-31-4012-00 Employee Payout

15,000
5,000

1,756.47
0.00

9,765.42
0.00

9,287.24
0.00

5,234.58
5,000.00

65.10
0.00

5-31-4015-00 Longevity (L2 and LONG)
5-31-4017-00 Christmas Bonus

2,300
400

210.00
0.00

1,830.00
0.00

1,755.00
0.00

470.00
400.00

79.57
0.00

5-31-4020-00 FICA Expense
5-31-4021-00 Medicare Expense

14,000
3,000

620.31
145.07

9,962.69
2,329.91

8,899.34
2,081.18

4,037.31
670.09

71.16
77.66

5-31-4025-00 SUTA
5-31-4030-00 Group Insurance

150
37,240

0.00
4,434.09

70.00
39,316.28

54.87
27,925.56 (

80.00
2,076.28)

46.67
105.58

5-31-4035-00 Retirement
5-31-4110-00 Worker's Comp

30,000
3,110

1,563.25
0.00

25,089.01
3,109.03

22,238.61
3,968.75

4,910.99
0.97

83.63
99.97

5-31-4111-01 Property Insurance
5-31-4130-01 Postage

17,963
40

0.00
0.00

17,512.57
0.00

16,145.20
0.00

450.43
40.00

97.49
0.00

5-31-4141-00 Sanitation/Parks
5-31-5030-00 Vehicle Repairs/Maint.

7,000
13,000

2,878.29
69.54

8,180.93
9,921.38

5,316.67 (
7,323.83

1,180.93)
3,078.62

116.87
76.32

5-31-5035-00 Fuel
5-31-5042-00 Uniforms & Accessories

18,500
2,000

1,312.28
0.00

17,233.44
333.20

11,269.44
271.92

1,266.56
1,666.80

93.15
16.66

5-31-5045-00 Utilities & Telephone
5-31-5048-00 Cellular Telephones

94,000
2,500

8,925.68
197.33

57,835.33
2,096.01

83,875.77
1,885.05

36,164.67
403.99

61.53
83.84

5-31-5055-00 Bldg. & Equip. Maint
5-31-5062-00 Supplies-Parks

20,500
34,500

3,026.21
719.99

18,311.88
23,274.63

16,913.07
22,400.85

2,188.12
11,225.37

89.33
67.46

5-31-5063-01 Chemicals & Fertilizer
5-31-5063-03 Irrigation

8,000
500

0.00
0.00

3,069.63
104.75

4,788.66
0.00

4,930.37
395.25

38.37
20.95

5-31-5070-00 Miscellaneous
5-31-5075-00 Vehicle Insurance

2,000
6,000

93.71
0.00

2,188.33
7,176.62

2,102.28 (
5,348.58 (

188.33)
1,176.62)

109.42
119.61

5-31-5076-00 Parks Dept Equip 33
5-31-6010-00 Small Tools

10,400
1,000

0.00
0.00

18,668.71
928.85

0.00 (
584.82

8,268.71)
71.15

179.51
92.89

5-31-7035-00 Contract Mowing
5-31-7072-01 Equipment Rental

6,000
400

0.00
0.00

5,275.00
110.25

7,425.00
293.25

725.00
289.75

87.92
27.56

5-31-7074-00 Storage Facility Rent

57,500

4,350.00

39,423.60

18,076.40

68.56

672,988
============

51,954.18
=============

538,159.09
=============

511,119.26
=============

134,828.91
=============

79.97
=======

TOTAL Parks & Recreation

Page 27 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF EXPENDITURES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

10 -General Fund
Property Maintenance
ORIGINAL
BUDGET

EXPENDITURES

CURRENT
BUDGET

MONTHLY
EXPENDITURE

YEAR-TO-DATE
EXPENDITURE

LAST YEAR
YEAR-TO-DATE

BALANCE
REMAINING

%
EXPENDED

____________________________________________________________________________________________________________________________________
5-32-4010-00 Salaries
5-32-4010-01 Contract Labor

120,900
0

7,710.04
0.00

69,390.36
5,174.40

73,369.89
0.00 (

51,509.64
5,174.40)

57.39
0.00

5-32-4011-00 Overtime
5-32-4012-00 Employee Payouts

0
5,000

89.86
0.00

0.00 (
0.00

89.86)
5,000.00

0.00
0.00

5-32-4015-00 Longevity (LONG)
5-32-4017-00 Christmas Bonus

700
300

55.00
0.00

465.00
0.00

375.00
0.00

235.00
300.00

66.43
0.00

5-32-4020-00 FICA Expense
5-32-4021-00 Medicare Expense

7,000
2,000

240.06
56.15

4,079.22
954.07

4,193.58
980.76

2,920.78
1,045.93

58.27
47.70

5-32-4025-00 SUTA
5-32-4030-00 Group Insurance

120
21,300

0.00
1,181.06

28.00
10,629.54

26.87
10,629.54

92.00
10,670.46

23.33
49.90

5-32-4031-00 Medical Expenses
5-32-4035-00 Retirement

1,000
18,500

0.00
594.80

0.00
10,107.04

0.00
10,378.38

1,000.00
8,392.96

0.00
54.63

5-32-4110-00 Workers Comp
5-32-4141-01 Sanitation

1,402
3,500

0.00
1,286.74

1,401.13
2,633.26

1,910.30
2,406.67

0.87
866.74

99.94
75.24

5-32-5030-00 Vehicle Repair/Maint.
5-32-5030-01 Mowing Equipment Maint

3,500
4,100

0.00
70.53

5,547.89
3,900.19

1,687.88 (
3,379.08

2,047.89)
199.81

158.51
95.13

5-32-5035-00 Fuel
5-32-5042-00 Uniforms & Accessories

2,500
1,400

0.00
0.00

1,386.65
714.59

0.00
122.91

1,113.35
685.41

55.47
51.04

5-32-5045-03 Utilities & Telephone
5-32-5055-00 Building Maint

8,400
11,000

553.44
4,846.96

3,108.60
13,415.44

4,669.73
11,490.36 (

5,291.40
2,415.44)

37.01
121.96

5-32-5055-11 Leased Property Expenses
5-32-5055-12 Recycling Dumpters

1,500
15,000

47.32
1,150.00

353.34
10,125.00

158.78
11,550.00

1,146.66
4,875.00

23.56
67.50

5-32-5056-00 Cleaning Supplies
5-32-5062-00 Office Supplies and Materi

5,500
500

0.00
0.00

1,389.24
65.89

702.01
446.12

4,110.76
434.11

25.26
13.18

5-32-5063-03 Irrigation
5-32-5070-00 Miscellaneous

500
3,500

0.00
839.22

0.00
7,387.58

108.17
3,324.67 (

500.00
3,887.58)

0.00
211.07

500
50

0.00
0.00

344.68
0.00

357.88
0.00

155.32
50.00

68.94
0.00

5-32-5075-00 Vehicle Insurance
5-32-5090-00 Due & Subscription
TOTAL Property Maintenance

239,672

18,721.18

152,690.97

142,268.58

86,981.03

63.71

============

=============

=======

Page 28 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF EXPENDITURES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

10 -General Fund
Yard Waste
ORIGINAL
BUDGET

EXPENDITURES

CURRENT
BUDGET

MONTHLY
EXPENDITURE

YEAR-TO-DATE
EXPENDITURE

LAST YEAR
YEAR-TO-DATE

BALANCE
REMAINING

%
EXPENDED

____________________________________________________________________________________________________________________________________
5-33-4010-00 Salaries
5-33-4011-00 Overtime

83,400
17,000

7,049.50
498.41

63,445.50
8,401.76

60,064.74
11,093.32

19,954.50
8,598.24

76.07
49.42

5-33-4012-00 Employee Payout
5-33-4015-00 Longevity (LONG)

5,000
1,500

0.00
130.00

0.00
1,140.00

0.00
1,050.00

5,000.00
360.00

0.00
76.00

5-33-4017-00 Christmas Bonus
5-33-4020-00 FICA Expense

300
6,100

0.00
237.69

0.00
4,222.53

0.00
4,384.35

300.00
1,877.47

0.00
69.22

5-33-4021-00 Medicare Expense
5-33-4025-00 SUTA

2,000
60

55.58
0.00

987.48
28.00

1,025.37
26.87

1,012.52
32.00

49.37
46.67

5-33-4030-00 Group Insurance
5-33-4035-00 Retirement

14,500
15,000

1,181.06
594.46

10,629.54
10,599.83

10,629.54
11,062.28

3,870.46
4,400.17

73.31
70.67

5-33-4110-00 Workers Comp
5-33-4141-00 Sanitation

1,200
1,400

0.00
0.00

1,197.41
0.00

2,034.14
0.00

2.59
1,400.00

99.78
0.00

5-33-5030-00 Vehicle/Equip Repair & Mai
5-33-5035-00 Fuel

4,500
15,000

305.20
2,484.91

3,526.04
22,776.86

2,478.10
8,625.29 (

973.96
7,776.86)

78.36
151.85

5-33-5042-00 Uniforms & Accessories
5-33-5045-00 Utilities & Telephone

1,600
1,100

0.00
86.95

0.00
782.55

1,600.00
317.45

0.00
71.14

5-33-5052-00 Tree Removal
5-33-5052-01 Compost Site

2,000
5,000

0.00
0.00

1,118.69
1,602.73

2,000.00
5,000.00

0.00
0.00

5-33-5062-00 Material and Supplies
5-33-5070-00 Miscellaneous

1,000
3,000

0.00
0.00

0.00
67.59

141.86
19.70

1,000.00
2,932.41

0.00
2.25

5-33-5075-00 Vehicle Insurance
5-33-5090-00 Due & Subscription

600
1,500

0.00
0.00

545.77
0.00

54.23
1,500.00

90.96
0.00

5-33-5095-00 School & Training
5-33-6010-00 Small Tools

750
2,300

0.00
0.00

406.00
107.96

500.00
205.37

344.00
2,192.04

54.13
4.69

5-33-6010-03 Truck Rental
5-33-9010-00 Fixed Assets

7,500
50,000

1,500.00
0.00

0.00
0.00

6,000.00
50,000.00

20.00
0.00

TOTAL Yard Waste

243,310

14,123.76

130,364.82

117,390.67

112,945.18

53.58

============

=============

=======

Page 29 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF EXPENDITURES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

10 -General Fund
Cemetery

EXPENDITURES

ORIGINAL
BUDGET

CURRENT
BUDGET

MONTHLY
EXPENDITURE

YEAR-TO-DATE
EXPENDITURE

LAST YEAR
YEAR-TO-DATE

BALANCE
REMAINING

%
EXPENDED

____________________________________________________________________________________________________________________________________
5-51-5045-00 Utilities & Telephone
5-51-5062-00 Materials & Supplies

650
0

54.57
0.00

474.78
0.00

448.60
0.00

175.22
0.00

73.04
0.00

5-51-5070-00 Miscellaneous-Cemetery
5-51-5090-00 Historic Preservation

1,750
0

0.00
0.00

662.49
0.00

300.00
0.00

1,087.51
0.00

37.86
0.00

TOTAL Cemetery

2,400

54.57

1,137.27

748.60

1,262.73

47.39

============

=============

=======

Page 30 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF EXPENDITURES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

10 -General Fund
King Opera House

EXPENDITURES

ORIGINAL
BUDGET

CURRENT
BUDGET

MONTHLY
EXPENDITURE

YEAR-TO-DATE
EXPENDITURE

LAST YEAR
YEAR-TO-DATE

BALANCE
REMAINING

%
EXPENDED

____________________________________________________________________________________________________________________________________
5-54-4110-00 Ins./Surety Bond
5-54-4141-00 Sanitation

0
2,500

0.00
933.12

0.00
2,825.22

0.00
1,931.19 (

5-54-4160-00 Return/Cleaning Fees
5-54-5045-00 Utilities & Telephone

0
14,500

0.00
1,891.00

0.00
12,847.92

5-54-5055-00 Building Maint./Repairs
5-54-5055-02 Security System

13,500
0

884.48
0.00

500
500

6,000
0

5-54-5062-00 Supplies
5-54-5070-00 Miscellaneous
5-54-5200-00 Contracts
5-54-9010-00 Fixed Assets-KOH
TOTAL King Opera House

0.00
325.22)

0.00
113.01

0.00
9,990.93

0.00
1,652.08

0.00
88.61

11,817.39
0.00

15,073.72
2,484.56

1,682.61
0.00

87.54
0.00

0.00
0.00

465.78
0.00

438.19
2.99

34.22
500.00

93.16
0.00

0.00
0.00

6,000.00
0.00

0.00
0.00

100.00
0.00

37,500

3,708.60

33,956.31

35,921.58

3,543.69

90.55

============

=============

=======

Page 31 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF EXPENDITURES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

10 -General Fund
Capital Improvement
ORIGINAL
BUDGET

EXPENDITURES

CURRENT
BUDGET

MONTHLY
EXPENDITURE

YEAR-TO-DATE
EXPENDITURE

LAST YEAR
YEAR-TO-DATE

BALANCE
REMAINING

%
EXPENDED

____________________________________________________________________________________________________________________________________
5-91-5203-11 Capital Imp.-Administratio
5-91-5203-12 Capital Improvement-PD

35,000
55,000

0.00
0.00

20,000.00
49,632.27

10,581.90
161,203.71

15,000.00
5,367.73

57.14
90.24

5-91-5203-13 Capital Imp-Fire Dept.
5-91-5203-18 Capital Imp-Levee

70,000
6,000

26,063.91
0.00

45,258.32
0.00

20,000.00
0.00

24,741.68
6,000.00

64.65
0.00

5-91-5203-19 C I -Storm Disaster Recove
5-91-5203-20 Capital Imp. Street - Inho

25,000
0

0.00
0.00

129,034.88
77,209.87

25,000.00
0.00

0.00
0.00

5-91-5203-21 Capital Imp.-Street & Drai 2,000,000
5-91-5203-22 Capital Imp.-Water & Sewer
240,000

2,000,000
240,000

447,078.98
20,000.00

2,438,497.41
160,000.00

416,639.81 (
180,000.00

438,497.41)
80,000.00

121.92
66.67

5-91-5203-31 Capital Imp.-Parks & Rec.
5-91-5203-33 Capital Imp.-Senior Inn

45,000
1,000

0.00
0.00

22,827.30
0.00

74,850.15
0.00

22,172.70
1,000.00

50.73
0.00

5-91-5203-34 Intermodal Port Expenses
5-91-5203-41 Capital Improvements-Libra

20,000
50,000

0.00
0.00

19,370.00
0.00

16,868.00
9,158.97

630.00
50,000.00

96.85
0.00

5-91-5203-51 Capital Imp. - Cemetery
5-91-5203-54 Capital Improvement-KOH

15,000
0

0.00
8,005.00

10,015.76
8,005.00

4,984.24
8,005.00)

66.77
0.00

5-91-5203-55 Capital Improvements-Sidew
5-91-5203-60 Partnership

390,000
0

0.00
0.00

390,000.00
0.00

0.00
0.00

TOTAL Capital Improvement

TOTAL EXPENDITURES

REVENUE OVER/(UNDER) EXPENDITURES

*** END OF REPORT ***

0.00
0.00 (
14,895.32
0.00

2,952,000

501,147.89

2,773,606.06

1,110,442.61

178,393.94

93.96

============

=============

=======

20,526,527
============

1,780,446.69
=============

15,642,018.60
=============

13,783,830.19
=============

4,884,508.40
=============

0.00
=======

10,658

818,270.07

1,861,066.86

1,876,447.99 ( 1,850,408.86)7,461.69

============

=============

=======

Page 32 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF REVENUES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

20 -Street Fund

ORIGINAL
BUDGET

REVENUES

CURRENT
BUDGET

MONTHLY
REVENUE

YEAR-TO-DATE
REVENUE

LAST YEAR
YEAR-TO-DATE

REVENUE
RECEIVABLE

%
RECEIVED

____________________________________________________________________________________________________________________________________

INTEREST
4000
Interest Earned
TOTAL INTEREST

125,000
125,000

0.00
0.00

72,958.46
72,958.46

126,350.60
126,350.60

52,041.54
52,041.54

58.37
58.37

1,950,000
520,000

171,580.33
53,721.21

1,471,872.49
322,322.86

1,484,145.16
264,483.73

478,127.51
197,677.14

75.48
61.99

2,470,000

225,301.54

1,794,195.35

1,748,628.89

675,804.65

72.64

2,500

150.00

2,550.00

2,600.00 (

50.00)

102.00

2,500

150.00

2,550.00

2,600.00 (

50.00)

102.00

19,000

0.00

7,200.00

8,100.00

11,800.00

37.89

19,000

0.00

7,200.00

8,100.00

11,800.00

37.89

5,000

3,051.42

27,252.32

111,039.15 (

22,252.32)

545.05

0
0

0.00
0.00

0
5,000

6,666.68
9,718.10

14,615.53
41,867.85

14,615.53)
36,867.85)

0.00
837.36

0
0

0.00
0.00

TAXES
4100
4105

State Turnback-Street
Property Tax

TOTAL TAXES
PERMITS/FEES
4507
Street Cut
TOTAL PERMITS/FEES
REIMBURSEMENT REVENUE
4611
Employee Portion-Insurance
TOTAL REIMBURSEMENT REVENUE
MISCELLANEOUS
4720
Misc. - Street
4728
4729

State Funds
Federal Funds

4797
Sales & Use Tax Rebate
TOTAL MISCELLANEOUS

0.00
0.00
442.62 (
111,481.77 (

TRANSFERS IN
4801
Transfer In FROM Other Funds
TOTAL TRANSFERS IN
TOTAL REVENUES

0.00
0.00

2,621,500

235,169.64

1,918,771.66

1,997,161.26

702,728.34

73.19

============

=============

=======

Page 33 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF EXPENDITURES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

20 -Street Fund
Street Department
ORIGINAL
BUDGET

EXPENDITURES

CURRENT
BUDGET

MONTHLY
EXPENDITURE

YEAR-TO-DATE
EXPENDITURE

LAST YEAR
YEAR-TO-DATE

BALANCE
REMAINING

%
EXPENDED

____________________________________________________________________________________________________________________________________
5-21-4010-00 Salaries
5-21-4011-00 Overtime

590,000
18,000

47,999.30
2,196.11

410,150.33
21,793.11

394,643.07
16,551.77 (

179,849.67
3,793.11)

69.52
121.07

5-21-4012-00 Employee Payout
5-21-4013-00 Temporary Employees

25,000
41,000

0.00
3,631.37

5,161.73
21,579.41

66.74
27,397.62

19,838.27
19,420.59

20.65
52.63

5-21-4015-00 Longevity (L2)
5-21-4017-00 Christmas Bonus

8,000
1,500

520.00
0.00

4,777.50
0.00

4,620.00
0.00

3,222.50
1,500.00

59.72
0.00

5-21-4019-00 Incentive Pay
5-21-4020-00 FICA Expense

850
34,000

75.00
1,544.88

675.00
25,166.44

675.00
24,955.27

175.00
8,833.56

79.41
74.02

5-21-4021-00 Medicare Expense
5-21-4025-00 SUTA

8,500
400

361.30
0.00

5,885.75
178.97

5,836.36
185.76

2,614.25
221.03

69.24
44.74

5-21-4030-00 Group Insurance
5-21-4031-00 Drug Screen/Medical Exp

138,000
500

10,199.43
255.00

94,767.98
528.00

99,982.83
50.00 (

43,232.02
28.00)

68.67
105.60

5-21-4035-00 Retirement
5-21-4040-00 Computer Supply & Equipmen

85,500
19,510

3,903.60
1,598.63

63,152.72
8,370.91

63,775.83
5,700.10

22,347.28
11,139.09

73.86
42.91

5-21-4110-00 Workers Comp.
5-21-4111-00 Property Insurance

17,163
14,562

0.00
0.00

17,162.10
14,561.72

16,943.91
13,316.08

0.90
0.28

99.99
100.00

5-21-4121-00 Advertising & Publications
5-21-4122-00 AR One Call

50
4,000

0.00
29.45

0.00
858.64

0.00
637.01

50.00
3,141.36

0.00
21.47

5-21-4123-00 CDL License Renewal
5-21-4124-00 Street Bond Refunds

300
3,200

0.00
0.00

52.63
0.00

300.00
3,200.00

0.00
0.00

5-21-4130-00 Postage
5-21-4141-00 Sanitation

50
3,800

0.00
809.07

0.00
2,387.03

0.00
2,018.62

50.00
1,412.97

0.00
62.82

5-21-5032-00 Vehicle Repair & Maintenan
5-21-5033-00 Equipment Repair & Main

25,000
56,300

553.91
1,835.53

15,741.64
42,643.31

18,482.11
47,505.03

9,258.36
13,656.69

62.97
75.74

5-21-5035-00 Fuel
5-21-5042-00 Uniforms & PPE

25,000
7,000

2,484.92
40.97

25,554.96
4,320.63

11,168.65 (
5,187.40

554.96)
2,679.37

102.22
61.72

5-21-5044-00 Utilities -Telephone-Secur
5-21-5050-00 Street/Drain Repair & Main

27,000
580,000

2,205.19
42,437.69

16,576.09
551,183.18

10,423.91
28,816.82

61.39
95.03

5-21-5050-01 Snow Removal
5-21-5050-04 Bridges

25,000
5,000

0.00
0.00

41,668.61
0.00

22,347.19 (
0.00

16,668.61)
5,000.00

166.67
0.00

5-21-5050-05 Patching
5-21-5050-06 Railroad Crossing Maintena

15,000
5,000

8,882.20
0.00

15,648.54
5,000.00

12,962.78 (
0.00

648.54)
0.00

104.32
100.00

5-21-5052-00 Tree Trim
5-21-5053-00 Sidewalk Maint.

4,500
8,000

0.00
0.00

850.00
4,338.52

4,200.00
5,927.33

3,650.00
3,661.48

18.89
54.23

5-21-5054-00 Street Light Repair & Main
5-21-5054-01 Traffic Sign Maint.

300,000
11,000

30,034.66
267.82

223,340.09
10,435.63

213,106.37
74,502.79

76,659.91
564.37

74.45
94.87

5-21-5054-02 Traffic Signal Maint.
5-21-5054-03 School Beacons

35,000
4,500

35,000
4,500 (

425.00
357.42)

24,474.90
1,930.90

16,369.27
2,274.80

10,525.10
2,569.10

69.93
42.91

5-21-5055-00 Building Maintenance
5-21-5056-00 ARKUPS Expense

5,000
8,522

0.00
710.20

2,903.84
6,468.75

1,411.87
3,381.90

2,096.16
2,053.25

58.08
75.91

5-21-5058-00 Street Cut Expense
5-21-5059-00 Accident-Project Expense

5,000
5,000

0.00
0.00 (

0.00
5,677.50)

0.00
0.00

5,000.00
10,677.50

0.00
113.55-

5-21-5062-00 Office Supplies/Equip

3,200

0.00

761.41

1,045.61

2,438.59

23.79

22,077.44
3,186,476.07

Page 34 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF EXPENDITURES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

20 -Street Fund
Street Department
ORIGINAL
BUDGET

EXPENDITURES

CURRENT
BUDGET

MONTHLY
EXPENDITURE

YEAR-TO-DATE
EXPENDITURE

LAST YEAR
YEAR-TO-DATE

BALANCE
REMAINING

%
EXPENDED

____________________________________________________________________________________________________________________________________
5-21-5066-00 Shop Supplies-Spray Chemic
30,000
30,000
2,475.88
12,387.64
22,502.05
17,612.36
41.29
5-21-5070-00 Miscellaneous
5-21-5075-00 Vehicle Insurance

6,000
15,000

25.52
0.00

10,629.70
15,701.41

696.43 (
13,584.30 (

4,629.70)
701.41)

177.16
104.68

5-21-5090-00 Dues & Subscriptions
5-21-5095-00 Travel/Training

2,400
3,500

0.00
245.64

668.94
2,304.48

1,020.00
240.00

1,731.06
1,195.52

27.87
65.84

5-21-5200-26 Contract Serv.(Map & Cad)E
5-21-6001-00 Outside Engineer Svc & Con

17,000
10,000

500.00
1,983.75

13,118.07
7,555.22

15,474.55
218.75

3,881.93
2,444.78

77.17
75.55

5-21-6010-02 Small Tools-Comsumables
5-21-6012-00 Equipment Rental

2,200
8,000

0.00
374.44

1,113.17
4,458.43

1,065.40
0.00

1,086.83
3,541.57

50.60
55.73

315,000
0

11.00
0.00

288,489.78
0.00

241,702.81
47,879.83

26,510.22
0.00

91.58
0.00

5-21-9010-00 Fixed Assets
5-21-9020-00 Transfer OUT To Other Fund
TOTAL Street Department

TOTAL EXPENDITURES

REVENUE OVER/(UNDER) EXPENDITURES

*** END OF REPORT ***

2,583,007

168,260.04

2,041,747.68

4,670,219.33

541,259.32

79.05

============

=============

=======

2,583,007
============

168,260.04
=============

2,041,747.68
=============

4,670,219.33
=============

541,259.32
=============

0.00
=======

38,493

============

66,909.60 (
=============

122,976.02)( 2,673,058.07)
=============

=============

161,469.02

319.48-

=============

=======

Page 35 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF REVENUES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

22 -Street Dept Equipment

REVENUES

ORIGINAL
BUDGET

CURRENT
BUDGET

MONTHLY
REVENUE

YEAR-TO-DATE
REVENUE

LAST YEAR
YEAR-TO-DATE

REVENUE
RECEIVABLE

%
RECEIVED

____________________________________________________________________________________________________________________________________

INTEREST
4000
Interest Earned
TOTAL INTEREST

0
0

0.00
0.00

669.72
669.72

631.57 (
631.57 (

669.72)
669.72)

0.00
0.00

0
0

0.00
0.00

358.67
358.67

48,609.20 (
48,609.20 (

358.67)
358.67)

0.00
0.00

MISCELLANEOUS
4712
Street Dept Equip Revenue
TOTAL MISCELLANEOUS
TOTAL REVENUES

0.00

1,028.39

============

=============

49,240.77 (
=============

1,028.39)

0.00

=============

=======

Page 36 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF EXPENDITURES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

22 -Street Dept Equipment
Street Department
ORIGINAL
BUDGET

EXPENDITURES

CURRENT
BUDGET

MONTHLY
EXPENDITURE

YEAR-TO-DATE
EXPENDITURE

LAST YEAR
YEAR-TO-DATE

BALANCE
REMAINING

%
EXPENDED

____________________________________________________________________________________________________________________________________
5-22-5070-00 Street Dept Equip Expense
TOTAL Street Department

TOTAL EXPENDITURES

REVENUE OVER/(UNDER) EXPENDITURES

*** END OF REPORT ***

2,239.57

30,712.63

0
============

2,239.57
=============

30,712.63
=============

21,340.39 (

30,712.63)

0.00

21,340.39 (
30,712.63)
0.00
============= ============= =======

2,239.57

30,712.63

30,712.63)

0.00

============

=============

21,340.39 (

=============

=======

0
============

0 (
2,239.57)(
29,684.24)
27,900.38
============ ============= ============= =============

29,684.24
=============

0.00
=======

Page 37 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF REVENUES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

24 -Christmas Fund

REVENUES

ORIGINAL
BUDGET

CURRENT
BUDGET

MONTHLY
REVENUE

YEAR-TO-DATE
REVENUE

LAST YEAR
YEAR-TO-DATE

REVENUE
RECEIVABLE

%
RECEIVED

____________________________________________________________________________________________________________________________________

INTEREST
4000
Interest Earned
TOTAL INTEREST

0
0

0.00
0.00

25.33
25.33

72.22 (
72.22 (

25.33)
25.33)

0.00
0.00

0
0

2,000.00
2,000.00

8,511.27
8,511.27

21,894.42 (
21,894.42 (

8,511.27)
8,511.27)

0.00
0.00

MISCELLANEOUS
4712
Christmas Fund Revenue
TOTAL MISCELLANEOUS
TOTAL REVENUES

2,000.00

8,536.60

============

=============

21,966.64 (
=============

8,536.60)

0.00

=============

=======

Page 38 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF EXPENDITURES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

24 -Christmas Fund
Code Enforcement

EXPENDITURES

ORIGINAL
BUDGET

CURRENT
BUDGET

MONTHLY
EXPENDITURE

YEAR-TO-DATE
EXPENDITURE

LAST YEAR
YEAR-TO-DATE

BALANCE
REMAINING

%
EXPENDED

____________________________________________________________________________________________________________________________________
5-24-5070-00 Christmas Fund Expense
TOTAL Code Enforcement

TOTAL EXPENDITURES

REVENUE OVER/(UNDER) EXPENDITURES

*** END OF REPORT ***

174.48

1,814.57

0
============

174.48
=============

1,814.57
=============

23,519.40 (

1,814.57)

0.00

23,519.40 (
1,814.57)
0.00
============= ============= =======

174.48

1,814.57

============

=============

23,519.40 (

0
============

1,825.52
=============

6,722.03 (
1,552.76)(
6,722.03)
0.00
============= ============= ============= =======

=============

1,814.57)

0.00

=============

=======

Page 39 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF REVENUES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

30 -Payroll Fund

REVENUES

ORIGINAL
BUDGET

CURRENT
BUDGET

MONTHLY
REVENUE

YEAR-TO-DATE
REVENUE

LAST YEAR
YEAR-TO-DATE

REVENUE
RECEIVABLE

%
RECEIVED

____________________________________________________________________________________________________________________________________

INTEREST
4000
Interest
TOTAL INTEREST

0
0

0.00
0.00

4,238.68
4,238.68

0
0

0.00
0.00

8,352.52 (
8,352.52 (

4,238.68)
4,238.68)

0.00
0.00

MISCELLANEOUS
4730
Misc
TOTAL MISCELLANEOUS
TOTAL REVENUES

0.00

4,238.68

============

=============

0.00
0.00
8,352.52 (
=============

4,238.68)

0.00

=============

=======

Page 40 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF EXPENDITURES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

30 -Payroll Fund
Transfers

EXPENDITURES

ORIGINAL
BUDGET

CURRENT
BUDGET

MONTHLY
EXPENDITURE

YEAR-TO-DATE
EXPENDITURE

LAST YEAR
YEAR-TO-DATE

BALANCE
REMAINING

%
EXPENDED

____________________________________________________________________________________________________________________________________
5-30-5070-00 Miscellaneous-Expense
5-30-9020-00 Transfer Out
TOTAL Transfers

TOTAL EXPENDITURES

REVENUE OVER/(UNDER) EXPENDITURES

*** END OF REPORT ***

0
0

0.00
0.00

74.41 (
0.00

0.18)(
0.00

74.41)
0.00

0.00
0.00

74.41 (

0.18)(

74.41)

0.00

=============

=======

0.00

============

=============

0
============

0.00
=============

74.41 (
0.18)(
74.41)
0.00
============= ============= ============= =======

0.00

4,164.27

============

=============

8,352.70 (
=============

4,164.27)

0.00

=============

=======

Page 41 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF REVENUES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

35 -City/Federal Forfeiture

ORIGINAL
BUDGET

REVENUES

CURRENT
BUDGET

MONTHLY
REVENUE

YEAR-TO-DATE
REVENUE

LAST YEAR
YEAR-TO-DATE

REVENUE
RECEIVABLE

%
RECEIVED

____________________________________________________________________________________________________________________________________

INTEREST
4000
Interest
TOTAL INTEREST

0
0

0.00
0.00

613.64
613.64

99.79 (
99.79 (

613.64)
613.64)

0.00
0.00

0
0

0.00
0.00

0.00

TRANSFERS IN
4801
Transfer In

0.00

40,566.50

0.00 (

40,566.50)

0.00

TOTAL TRANSFERS IN

0.00

40,566.50

0.00 (

40,566.50)

0.00

0
============

0.00
=============

41,180.14
=============

GRANTS
4407
4408

Sign Rental
Forfieture Revenue

TOTAL GRANTS

TOTAL REVENUES

99.79 (
41,180.14)
0.00
============= ============= =======

Page 42 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF EXPENDITURES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

35 -City/Federal Forfeiture
Police Department

EXPENDITURES

ORIGINAL
BUDGET

CURRENT
BUDGET

MONTHLY
EXPENDITURE

YEAR-TO-DATE
EXPENDITURE

LAST YEAR
YEAR-TO-DATE

BALANCE
REMAINING

%
EXPENDED

____________________________________________________________________________________________________________________________________
5-12-5070-35 Miscellaneous
TOTAL Police Department

TOTAL EXPENDITURES

REVENUE OVER/(UNDER) EXPENDITURES

*** END OF REPORT ***

0.00

650.04

0
============

0.00
=============

650.04
=============

1,145.00 (

650.04)

0.00

1,145.00 (
650.04)
0.00
============= ============= =======

0.00

650.04

============

=============

1,145.00 (

0
============

0.00
=============

40,530.10 (
1,045.21)(
40,530.10)
0.00
============= ============= ============= =======

=============

650.04)

0.00

=============

=======

Page 43 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF REVENUES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

36 -State Forfeiture

REVENUES

ORIGINAL
BUDGET

CURRENT
BUDGET

MONTHLY
REVENUE

YEAR-TO-DATE
REVENUE

LAST YEAR
YEAR-TO-DATE

REVENUE
RECEIVABLE

%
RECEIVED

____________________________________________________________________________________________________________________________________

INTEREST
4000
Interest
TOTAL INTEREST

0
0

0.00
0.00

271.92
271.92

0
0

0.00
0.00

365.27 (
365.27 (

271.92)
271.92)

0.00
0.00

GRANTS
4408
State Forfeiture
TOTAL GRANTS
TOTAL REVENUES

0.00

271.92

============

=============

2,015.00
2,015.00
2,380.27 (
=============

271.92)

0.00

=============

=======

Page 44 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF EXPENDITURES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

36 -State Forfeiture
Police Department

EXPENDITURES

ORIGINAL
BUDGET

CURRENT
BUDGET

MONTHLY
EXPENDITURE

YEAR-TO-DATE
EXPENDITURE

LAST YEAR
YEAR-TO-DATE

BALANCE
REMAINING

%
EXPENDED

____________________________________________________________________________________________________________________________________
5-12-5070-36 Miscellaneous
TOTAL Police Department

TOTAL EXPENDITURES

REVENUE OVER/(UNDER) EXPENDITURES

*** END OF REPORT ***

0.00

873.72

0.00

0
============

0.00
=============

873.72
=============

0.00
=============

0.00
=======

0.00

873.72

0.00

============

=============

=======

0
============

0.00
=============

271.92
=============

1,506.55 (
271.92)
0.00
============= ============= =======

Page 45 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF REVENUES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

55 -Sidewalk Constr. Fund

REVENUES

ORIGINAL
BUDGET

CURRENT
BUDGET

MONTHLY
REVENUE

YEAR-TO-DATE
REVENUE

LAST YEAR
YEAR-TO-DATE

REVENUE
RECEIVABLE

%
RECEIVED

____________________________________________________________________________________________________________________________________

INTEREST
4000
Interest Earned
TOTAL INTEREST

0
0

0.00
0.00

3,412.55
3,412.55

4,188.93 (
4,188.93 (

3,412.55)
3,412.55)

0.00
0.00

0
0

7,700.00
7,700.00

11,480.00
11,480.00

14,750.00 (
14,750.00 (

11,480.00)
11,480.00)

0.00
0.00

0
0

332.55
332.55

9,888.32
9,888.32

6,341.26 (
6,341.26 (

9,888.32)
9,888.32)

0.00
0.00

MISCELLANEOUS
4700
Misc-Sidewalk
TOTAL MISCELLANEOUS
TRANSFERS IN
4801
Transfer In
TOTAL TRANSFERS IN
TOTAL REVENUES

8,032.55

24,780.87

============

=============

25,280.19 (
=============

24,780.87)

0.00

=============

=======

Page 46 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF EXPENDITURES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

55 -Sidewalk Constr. Fund
Sidewalk
ORIGINAL
BUDGET

EXPENDITURES

CURRENT
BUDGET

MONTHLY
EXPENDITURE

YEAR-TO-DATE
EXPENDITURE

LAST YEAR
YEAR-TO-DATE

BALANCE
REMAINING

%
EXPENDED

____________________________________________________________________________________________________________________________________
5-50-5050-00 Contract Construction
5-50-5051-00 Sidewalk Constr./Inhouse P

0
0

0.00
0.00

0.00
19,646.59

0.00
0.00

5-50-5070-00 Misc. Sidewalk

0.00

0
============

0.00
=============

19,646.59
=============

0.00
=============

0.00
=======

0.00

19,646.59

0.00

============

=============

=======

0
============

8,032.55
=============

24,780.87
=============

5,633.60 (
24,780.87)
0.00
============= ============= =======

TOTAL Sidewalk

TOTAL EXPENDITURES

REVENUE OVER/(UNDER) EXPENDITURES

*** END OF REPORT ***

Page 47 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF REVENUES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

60 -LOPFI

ORIGINAL
BUDGET

REVENUES

CURRENT
BUDGET

MONTHLY
REVENUE

YEAR-TO-DATE
REVENUE

LAST YEAR
YEAR-TO-DATE

REVENUE
RECEIVABLE

%
RECEIVED

____________________________________________________________________________________________________________________________________

INTEREST
4000
Interest
TOTAL INTEREST

0
0

0.00
0.00

2,810.15
2,810.15

4,519.00 (
4,519.00 (

2,810.15)
2,810.15)

0.00
0.00

REVENUE
4258
4259

City Share Fire Dept Ret.
City Share Police Dept Ret

0
0

0.00
0.00

538,941.33
491,255.71

536,712.74 (
485,145.89 (

538,941.33)
491,255.71)

0.00
0.00

4260
4261

Empl Contr PD Ret
Empl Contr FD Ret

0
0

0.00
0.00

70,589.90
204,982.65

70,750.28 (
212,448.68 (

70,589.90)
204,982.65)

0.00
0.00

0
0

0.00
0.00

0.00
1,305,769.59

0.00
0.00
1,305,057.59 ( 1,305,769.59)

0.00
0.00

4801
Transfer In from General Fund
TOTAL TRANSFERS IN

0
0

0.00
0.00

78,855.00
78,855.00

TOTAL REVENUES

0.00

1,387,434.74

1,410,847.59 ( 1,387,434.74)

============

=============

4262
Turnback
TOTAL REVENUE
TRANSFERS IN

101,271.00 (
101,271.00 (

78,855.00)
78,855.00)

=============

0.00
0.00
0.00
=======

Page 48 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF EXPENDITURES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

60 -LOPFI
LOPFI
ORIGINAL
BUDGET

EXPENDITURES

CURRENT
BUDGET

MONTHLY
EXPENDITURE

YEAR-TO-DATE
EXPENDITURE

LAST YEAR
YEAR-TO-DATE

BALANCE
REMAINING

%
EXPENDED

____________________________________________________________________________________________________________________________________
5-60-4035-00 LOPFI-Retirement
5-60-4060-00 LOPFI-Retirement-Fire Dept

0
0

0.00
0.00

0.00
615,672.94

0.00
636,319.27 (

0.00
615,672.94)

0.00
0.00

5-60-4061-00 LOPFI-Retirement-PD
5-60-9020-00 Transfer Out-LOPFI

0
0

0.00
0.00

454,657.82
655,500.00

397,276.59 (
625,000.00 (

454,657.82)
655,500.00)

0.00
0.00

TOTAL LOPFI

TOTAL EXPENDITURES

REVENUE OVER/(UNDER) EXPENDITURES

*** END OF REPORT ***

0.00

1,725,830.76

1,658,595.86 ( 1,725,830.76)

============

=============

0
============

0.00
=============

1,725,830.76
=============

1,658,595.86 ( 1,725,830.76)
0.00
============= ============= =======

============

0.00 (
=============

338,396.02)(
=============

=============

0.00
=======

247,748.27)

338,396.02

0.00

=============

=======

Page 49 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF REVENUES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

77 -VB Boys & Girls Club

REVENUES

ORIGINAL
BUDGET

CURRENT
BUDGET

MONTHLY
REVENUE

YEAR-TO-DATE
REVENUE

LAST YEAR
YEAR-TO-DATE

REVENUE
RECEIVABLE

%
RECEIVED

____________________________________________________________________________________________________________________________________

GRANTS
4431
Federal Funds-Grant
TOTAL GRANTS
TOTAL REVENUES

0
0

0.00
0.00

0.00

============

=============

=======

Page 50 of 185

10-02-2026 12:36 PM

C I T Y
O F
V A N
B U R E N
STATEMENT OF EXPENDITURES - BUDGET VS. ACTUAL
AS OF:

SEPTEMBER

PAGE:

30TH, 2026

77 -VB Boys & Girls Club
VB Boys & Girls Club

EXPENDITURES

ORIGINAL
BUDGET

CURRENT
BUDGET

MONTHLY
EXPENDITURE

YEAR-TO-DATE
EXPENDITURE

LAST YEAR
YEAR-TO-DATE

BALANCE
REMAINING

%
EXPENDED

____________________________________________________________________________________________________________________________________
5-77-7035-00 Contract Labor

0.00

TOTAL VB Boys & Girls Club

0
============

0.00
=============

0.00
=======

TOTAL EXPENDITURES

REVENUE OVER/(UNDER) EXPENDITURES

*** END OF REPORT ***

0.00

============

=============

=======

0
============

0.00
=============

0.00
=======

Page 51 of 185

City of Van Buren, Arkansas
Planning Department
1003 Broadway • Van Buren, Arkansas 72956
VAN BUREN CITY COUNCIL MEMORANDUM
TO:
FROM:
SUBJECT:
DATE:
CC:

VAN BUREN CITY COUNCIL
WALLY BAILEY, PLANNING DIRECTOR
PUBLIC WORKS/PLANNING DEPARTMENT REPORT
OCTOBER 19, 2026
MAYOR JOE HURST

1. The Street Department’s completed projects for the past month are attached.
2. The Planning Commission met at the Municipal Complex on October 06, 2026. The following items of
business were addressed:

Preliminary Plat Review—Mourning Wood Lots 1-9 (Rena Place Lot 1); Goodwin Engineering
For Mourning Wood, LLC. APPROVED.

ii.

Ordinance Amendment Concerning Data Centers. APPROVED RECOMMENDATION TO CITY
COUNCIL.

Page 52 of 185

Street Department Projects from Sept 21, 2026 to Oct 18, 2026
PROJECT LOCATION

PROJECT DESCRIPTION

Various Locations
Shop
Compost/Yard Waste Facility
Various Locations
Various Locations
Various Locations
Various Locations
Lee Creek Park Rd (133)
1227 Flat Rock Creek Dr (D281)
Town Ditch (D282)
Senior Center (D283)
Sandstone Dr (D284)
Highland @ Cedar Creek (D285)
Vista Hills Cir (1998)
Lee Creek Park (D286)
15 Crape Myrtle (D287)
2111 Poplar (D288)
1st Street (2018)

Traffic Signals/Signage
Various Duties
Various Duties
Yard Waste Pick Up
Pothole Patching
Brush Hogging
Street Sweeping
Cut/Remove Hanging Tree Limbs & Deep Patch
Clean Out Concrete Ditch
Clean Out Concrete Ditch Channel
Clean Out Concrete Ditch
Clean Out Concrete Ditch
Clean Silt and Debris on Bridge
Street Repair/Overlay
Clean Out Ditch
Clean Out Ditch
Clean Out Ditch
Asphalt Repairs

Page 53 of 185

CITY OF VAN BUREN MUNICIPAL UTILITIES
COMMISSION
AGENDA
Tuesday, October 20, 2026
12:00 Noon
City of Van Buren Municipal Utilities Conference Room
2806 Bryan Road, Van Buren, Arkansas
1.

Call to Order

Minutes of September 15, 2026, Commission Meeting

Financial Reports

Commission Engineer and Capital Improvements in progress Report
a)
b)
c)
d)
e)
f)
g)

Capital Improvement Plan and New Business Discussion:
a)

b)
c)
d)
e)
7.

Lee Creek and I-40 Crossing Water Line Emergency Replacement
Water Tank Recoating and Mixing: Lovers Lane, Crestview, Dora
Downtown Water Line Improvements Phase I
Downtown Water Line Improvements Phase II
Parkview Drive/Woodrow Street Gravity Sewer Improvements
South 28th Street Interceptor Sewer (I-540 Crossing)
Arkansas Department of Transportation (ArDOT) Job 040872 Highway 59

On-Call Utility Repair and Construction Services Contract
Requesting Commission’s authorization to advertise 2027 Contract for
competitive bidding. The current contract was effective January 1, 2024, and was
limited to a three (3) year period which expires December 31, 2026.
Future Water and Sewer Improvement Projects
Professional Services Agreement(s) for Project Design.
Attachment: “VBMU CIP 2027-2030 Discussion”
Commission Resolution 10-1-2026 Adjusting Charges and Rates for Residential
Sanitation Collection Services. Recommending the Commission’s consideration
for approval.
VBMU 2027 Preliminary Budget and potential Consumer Price Index related
Water & Sewer Rate adjustments.
Van Buren South Waste Water Treatment Plant Property

General Information and Open Discussion:
a)
b)
c)
d)

VBMU website and email transition from “.org” to “.gov”
Crawford County JPs Discuss Water Plant Article (Attached)
DATA Centers
Fort Smith Water Lake Level and Production Report July 2026

Page 54 of 185

VBMU COMMISSION MEETING MINUTES

September 15, 2026
The regular Meeting of the City of Van Buren Municipal Utilities (VBMU) Commission was
held on September 15, 2026, at 12:00 P.M. in the VBMU Conference Room. Those in attendance
were, Chairman Todd Young. Commissioners Keith Hefner, Blaine Bell. Commission Attorney
Sean Brister. Commission Engineer Larry Weir, VBMU Staff: Director of Utilities Steve
Dufresne, Administrative Assistant Kathy Geppert, Assistant Director of Utilities Chris
Coombes, Director of Supply & Treatment James Dunn, Pretreatment Coordinator, Nathan
Gregory, Director of Meter Services Brett Painter, Director of Operations & Maintenance Rick
Davis, Director of Customer Service Tonya Griffiths, Visitors: Hawkins-Weir Engineers Barry
McCormick and Wes Lemonier. Absent Commissioners Jim Williamson and Tracy Burba.
1.

Commissioner: Todd Young called the meeting to order.

Minutes of August 18, 2026, Commission Meeting: A Motion to approve made by
Commissioner Bell and Seconded by Commissioner Hefner Motion Carried.

Financial Reports: After review and discussion, a Motion to accept made by
Commissioner Hefner and seconded by Commissioner Bell. Motion Carried.

Commission Engineer and Capital Improvements Report (Report attached):
a)
Lee Creek and I-40 Crossing Water Line Emergency Replacement:
b)
Water Tank Recoating and Mixing: Lovers Lane, Crestview, Dora
c)
Downtown Water Line Improvements: Phase I
d)
Downtown Water Line Improvements: Phase II
e)
Parkview Drive/Woodrow Street Gravity Sewer Improvements:
f)
South 28th Street Interceptor Sewer (I-540 Crossing):
g)
Arkansas Department of Transportation (ARDOT) Job 040872 HWY 59:

Capital Improvement Plan Discussion:
a)
Sewer Capital Improvements Project 8
Baldwin/North 23rd Street Emergency Sewer Line Emergency Replacement 460’
b)
Water Capital Improvement Project 11
Water Meter Automatic Read Base Station Phase I
Requesting authorization to proceed with purchase. After discussion a Motion to
approve made by Commissioner Hefner and seconded by Commissioner Bell.
Motion Carried.
c)
North 27th/Holmes Lane Emergency Water Line Replacement: Replacing
approximately 200 Linear feet of 1” line with 2” PVC pipe.

General Information for Commission and Open Discussion
a)
b)
c)
d)

Fort Smith Water Lake Level and Production Report July 2026
VBMU Photos
News Media Articles.
Lead and Copper Test Results and reporting discussion

Page 55 of 185

VBMU COMMISSION MEETING MINUTES

There being no further business, meeting was adjourned by Commission Chairman Young.

Respectfully Submitted:
_______________________
Kathy D. Geppert, Secretary

________________________________________________
Todd Young, Chairman

Page 56 of 185

Van Buren Municipal Utilities Commission
Report by C. Larry Weir, P.E.
Commission Engineer Report
September 15, 2026
Item 4
a) Water Line Emergency Replacement: Lee Creek and I-40

Crossing
The engineer, HWEI, reports that the Notice to Proceed for this
project was issued on September 2, 2026. The Contractor,
Crawford Construction Company, mobilized to the site and
construction has begun.
b) Water Tank Recoating and Mixing/ Lovers Lane, Crestview, Dora
The engineer, HWEI, reports that contract construction on the
Dora Tank and Lovers Lane Tank began on September 8, 2026.
The contractor is Dixie Painting and Sandblasting, LLC.
c) Downtown Water Line Improvements, Phase I
The engineer, HWEI, reports that the construction of this project
continues and the progress of the work is on schedule.
d) Downtown Water Line Improvements, Phase II
Pre-Final Plans have been completed by the engineer, HWEI, and
are under review by the Department, VBMU.
e) Parkview Drive/ Woodrow Street Gravity Sewer Improvements
The engineer, HWEI, reports that the contracted construction is in
progress. The Contractor is nearing completion of improvements
along Woodrow Street and should begin site restoration in this
area in the coming weeks.
f) South 28th Street Interceptor Sewer (I540 Crossing)
The engineer, HWEI, reports that the construction of this project is
underway, and the work is on schedule.
Relevant project information regarding the engineering issues in progress for the preparation
of this report for the Commission was provided by
Wes Lemonier, P.E. of Hawkins-Weir Engineers, Inc.

Page 57 of 185

Van Buren Municipal Utilities Commission
g) Arkansas Department of Transportation (ArDOT) Job 040872
Highway 59
Survey for this project is complete and the engineer, HWEI, has
begun the developing of the preliminary plans and specifications.

Relevant project information regarding the engineering issues in progress for the preparation
of this report for the Commission was provided by
Wes Lemonier, P.E. of Hawkins-Weir Engineers, Inc.

Page 58 of 185

City of Van Buren Municipal Utilities
Accounts Payable September 2026
General Fund Payables
General Fund Direct Payables
Water Capital Improvement Payables
Water Capital Improvement Direct Payables
Water Loan Project Payables
Sewer Capital Improvement Payables
Sewer Capital Improvement Direct Payables
Sewer Loan Project Payables
Total Payables

$873,559.20
$107,999.03
$127,504.83
$2,177.88
$1,350.00
$177,337.50
$135,201.00
$1,425,129.44

Page 59 of 185

City of Van Buren Municipal Utilities
TREASURER'S REPORT
September 30, 2026

Operating Funds:
Funds On Hand
General Fund
Service Deposit Fund

$25,506
$3,706,720
$155,350

Operating FundsTotal:
General Fund Payables:
Operating Funds Balance:

$3,887,577
$873,559
$3,014,018

Capital Improvement Funds:
Water Capital Improvement Fund
Sewer Capital Improvement Fund

$2,094,169
$1,369,241

Capital Improvement Funds Total:
Water Capital Improvement Payables:
Sewer Capital Improvement Payables:
Capital Improvement Funds Balance:

$3,463,410
$127,505
$177,338
$3,158,567

Capital Improvement Program:
Water Capital Improvements:
Sewer Capital Improvements:
Equipment Replacement:
Total:

Estimated
Remaining Expenditures
$1,072,165
$156,563
$45,000
$1,273,728

YTD Expended
$932,992
$1,436,956
$171,968
$2,541,916

Water Capital Improvement Fund Balance after Estimated Remaining Expenditures:
Sewer Capital Improvement Fund Balance after Estimated Remaining Expenditures:
Department of Agriculture
Loan Funded Projects:
Water Capital Improvements
Sewer Capital Improvements
Restricted Assets:

Expended
$1,461,806
$1,998,088

Estimated Balance
$6,826,030
$3,563,505

Water Improvement Loan Funds
Sewer Improvement Loan Funds
2016 Debt Service Fund

$281,944
$228,955
$740,011

$894,499
$1,035,340

Page 60 of 185

MONTH-TO-DATE

City of Van Buren Municipal Utilities
STATEMENT OF REVENUES
AS OF:
September 30, 2026

BUDGET
WATER
4101 Meter Sales
4105 Other Systems Water Taps
4107 Service Charges
4108 Water Taps and Connection Fees
4116 Safe Drinking Act Fee
4117 Fire Protection Revenue
4119 Misc. Meter Related Revenue
4128 Penalties-Water
4134 Repairs to Other Systems
4137 Accounting Services
4139 Delinquent Back-On Charges
4140 Misc. Revenue
4143 Cash Over/Under
4147 Rental Radio Tower Property

ACTUAL

VARIANCE
VARIANCE
PERCENT PRIOR YEAR PERCENT

$933,224
$333
$3,917
$1,417
$0
$1,131
$333
$12,610
$14,833
$8,333
$0
$3,333
$0
$300

$940,290
$0
$4,499
$0
($101)
$1,120
$276
$7,581
$12,246
$8,373
$0
$1,753
$0
$300

$979,764

$976,336

-0.35%

$931,136

4.85%

$532,143
$1,667
$0
$2,400
$583
$6,490

$544,322
$39,330
$0
$2,966
$0
$4,635

2.24%
95.76%

6.03%

-40.02%

$513,358
$1,053
$0
$2,117
$1,200
$4,669

TOTAL SEWER

$543,283

$591,253

8.11%

$522,396

13.18%

SANITATION
4301 Sanitation Charges
4328 Sanitation - Penalties
4340 Leaf & Limb Charges

$127,512
$2,667
$19,758

$129,155
$2,391
$19,723

1.27%
-11.55%
-0.18%

$126,730
$2,582
$19,683

1.91%
-7.41%
0.20%

$149,936

$151,268

0.88%

$148,994

1.53%

TOTAL OPERATING REVENUE

$1,672,983

$1,718,857

2.67% $1,602,527

7.26%

NON-OPERATING REVENUE
8101 Interest Income
7149 Sales Tax Receipts
7112 Grants/Reimbursements
7113 Misc. Loss or Gain
TOTAL NON-OPERATING REV

$14,583
$20,000
$0
$0
$34,583

$16,470
$20,000
$0
$164
$36,633

11.45%

$17,945
$20,000
$0
$328
$38,273

-8.22%

$1,707,566

$1,755,490

2.73% $1,640,799

6.99%

TOTAL WATER
SEWER
4201 Sewer Service Charges
4203 Sewer Sur-Charges
4205 Pretreatment Program Permits
4207 Sewer Turn On Fees
4208 Sewer Taps and Connection Fees
4228 Penalties - Sewer

TOTAL SANITATION

TOTAL REVENUE

0.75%
12.94%

-1.01%
-66.33%
-21.12%
0.47%
-90.15%

19.09%

$903,449
4.08%
$0
$4,126
9.04%
$1,150 -100.00%
($125)
$1,124
-0.43%
$0
$7,726
-1.87%
$2,156 467.93%
$9,676
-13.47%
$0
$1,550
13.10%
$5
$300

40.14%
-0.72%

Page 61 of 185

YEAR-TO-DATE

City of Van Buren Municipal Utilities
STATEMENT OF REVENUES
AS OF:
September 30, 2026

YEAR-TO-DATE YEAR-TO-DATE VARIANCE
BUDGET
ACTUAL
PERCENT PRIOR YEAR
WATER
4101 Meter Sales
4105 Other Systems Water Taps
4107 Service Charges
4108 Water Taps and Connection Fees
4116 Safe Drinking Act Fee
4117 Fire Protection Revenue
4119 Misc. Meter Related Revenue
4128 Penalties-Water
4134 Repairs to Other Systems
4137 Accounting Services
4139 Delinquent Back-On Charges
4140 Misc. Revenue
4143 Cash Over/Under
4147 Rental Radio Tower Property

$7,713,133
$1,825
$33,582
$8,625
($351)
$10,165
$4,160
$71,037
$160,705
$84,642

-3.32%
722.72%
-4.28%
62.30%

20.56%

$34,115
$30
$2,700

10.70%

$7,884,734

-6.10%

$8,124,367

-2.95%

$5,023,725
$15,000
$57,799
$18,240
$5,250
$44,250

$4,888,262
$214,876
$57,802
$18,090
$1,600
$44,033

-2.77%
93.02%
-0.83%
-228.13%
-0.49%

$4,849,403
0.80%
$16,117 1233.20%
$56,160
2.92%
$18,906
-4.32%
$5,160
-68.99%
$44,423
-0.88%

TOTAL SEWER

$5,164,264

$5,224,663

1.16%

$4,990,169

4.70%

SANITATION
4301 Sanitation Charges
4328 Sanitation - Penalties
4340 Leaf & Limb Charges

$1,154,384
$24,000
$177,818

$1,155,947
$24,261
$177,610

0.14%
1.08%
-0.12%

$1,132,653
$24,109
$176,945

2.06%
0.63%
0.38%

TOTAL SANITATION

$1,356,201

$1,357,818

0.12%

$1,333,708

1.81%

TOTAL OPERATING REVENUE

$14,886,406

$14,467,215

-2.90% $14,448,244

0.13%

$131,250
$180,000

$311,250

$142,758
$180,000
$452,402
$35,835
$810,995

$15,197,656

$15,278,211

TOTAL WATER
SEWER
4201 Sewer Service Charges
4203 Sewer Sur-Charges
4205 Pretreatment Program Permits
4207 Sewer Turn On Fees
4208 Sewer Taps and Connection Fees
4228 Penalties - Sewer

NON-OPERATING REVENUE
8101 Interest Income
7149 Sales Tax Receipts
7112 Grants/Reimbursements
7113 Misc. Loss or Gain
TOTAL NON-OPERATING REV
TOTAL REVENUE

$7,988,782
$3,000
$35,250
$12,750

$7,457,207
$15,015
$32,145
$13,998
($990)
$10,063
$822
$75,512
$165,400
$75,082

-7.13%
80.02%
-9.66%
8.92%

$2,700

$37,766
$14
$2,700

$8,365,941

VARIANCE
PERCENT

$10,178
$3,000
$71,780
$133,502
$75,000
$30,000

-1.14%
4.94%
19.29%
0.11%

8.06%

-1.00%
6.30%
2.92%
-11.29%

$159,778
$180,000
$9,053
$63,754
$412,586

-10.65%

0.53% $14,860,830

2.81%

Page 62 of 185

MONTH-TO-DATE

HUMAN RESOURCES
WATER PURCHASED
UTILITIES
VEHICLE EXPENSE
REPAIRS
MISCELLANEOUS
SUPPLIES
PROFESSIONAL FEES
SANITATION HAULER CHARGES
DEPRECIATION EXPENSE
POSTAGE
OUTSIDE LAB
SLUDGE REMOVAL
LEAF AND LIMB

City of Van Buren Municipal Utilities
STATEMENT OF EXPENDITURES
AS OF:
September 30, 2026

VARIANCE
VARIANCE
BUDGET
ACTUAL
PERCENT PRIOR YEAR
PERCENT
$294,628
$304,592
3.27%
$284,907
6.91%
$493,259
$528,933
6.74%
$496,195
6.60%
$58,163
$59,207
1.76%
$59,409
-0.34%
$15,946
$13,433
-18.70%
$19,325
-30.49%
$93,167
$284,740
67.28%
$91,099
212.56%
$37,686
$36,794
-2.42%
$44,436
-17.20%
$65,717
$51,717
-27.07%
$62,181
-16.83%
$4,917
$300 -1538.89%
$563
-46.67%
$115,000
$116,999
1.71%
$115,078
1.67%
$193,246
$193,246
$195,764
-1.29%
$13,708
$12,945
-5.90%
$12,581
2.89%
$5,623
$13,854
59.42%
$9,075
52.66%
$4,167
$825
$19,758
$19,723
$19,683
0.20%

TOTAL OPERATING EXPENSES
DEBT SERVICE

$1,414,983
$3,689

$1,636,483
$3,689

13.54%

$1,411,120
$5,152

15.97%
-28.39%

TOTAL EXPENSES

$1,418,672

$1,640,172

13.50%

$1,416,272

15.81%

Page 63 of 185

YEAR-TO-DATE

City of Van Buren Municipal Utilities
STATEMENT OF EXPENDITURES
AS OF:
September 30, 2026

YEAR-TO-DATE YEAR-TO-DATE VARIANCE
VARIANCE
BUDGET
ACTUAL
PERCENT PRIOR YEAR
PERCENT
$2,651,661
$2,670,242
0.70%
$2,425,852
10.07%
$4,466,470
$4,336,319
-3.00%
$4,507,427
-3.80%
$523,470
$515,083
-1.63%
$513,898
0.23%
$143,513
$175,641
18.29%
$147,441
19.13%
$838,500
$969,868
13.54%
$1,079,251
-10.14%
$339,172
$347,676
2.45%
$397,037
-12.43%
$591,450
$650,113
9.02%
$603,999
7.63%
$34,250
$71,282
51.95%
$69,146
3.09%
$1,035,000
$1,051,595
1.58%
$1,028,056
2.29%
$1,739,214
$1,739,214
0.00%
$1,761,876
-1.29%
$123,375
$110,919
-11.23%
$114,347
-3.00%
$50,603
$76,911
34.21%
$55,200
39.33%
$37,500
$5,908 -534.79%
$31,743
-81.39%
$177,818
$177,610
-0.12%
$176,945
0.38%

TOTAL OPERATING EXPENSES
DEBT SERVICE

$12,751,995
$33,203

$12,898,379
$33,203

1.13%

$12,912,217
$46,367

-0.11%
-28.39%

TOTAL EXPENSES

$12,785,197

$12,931,582

1.13%

$12,958,585

-0.21%

Page 64 of 185

Revenue and Expense Summary By Classes
September 30, 2026
WATER:
Revenue
O&M Expense
Depreciation
Debt Service
NET
Plus Depreciation

Current Month
$976,336
($831,420)
($86,258)
$0
$58,658

Previous Year
Current Month
$931,136
($758,098)
($87,520)
$0
$85,519

Year To Date
$7,884,734
($6,799,436)
($776,322)
$0
$308,977
$144,916

$1,085,299

Previous Year
Year To Date
$8,124,367
($7,046,377)
($787,676)
$0
$290,314
$173,039

$1,077,990

SEWER:
Revenue
O&M Expense
Depreciation
Debt Service
NET
Plus Depreciation

$591,253
($459,202)
($107,390)
($3,689)
$20,972

Revenue
O&M Expense
Depreciation
NET
Plus Depreciation

$151,268
($151,358)
($855)
($944)

$5,224,663
($2,983,276)
($966,509)
($33,203)
$1,241,675
$128,361

$522,396
($307,727)
($107,390)
($5,152)
$102,128
$2,208,184

$4,990,169
($2,763,026)
($966,509)
($46,367)
$1,214,267
$209,517

$2,180,776

SANITATION:
$1,357,818
($1,365,146)
($7,691)
($15,019)
($90)

O&M Net
Grants/Reimbursements
Misc. Loss/Gains
Interest Income
City Sales Tax

$78,685

**Sub Total Net**
Debt Principal
Depreciation

($7,328)

$1,333,708
($1,340,938)
($7,691)
($14,921)
($538)

($7,230)

$186,254

$164
$16,470
$20,000

$1,535,633
$452,402
$35,835
$142,758
$180,000

$328
$17,945
$20,000

$1,489,659
$9,053
$63,754
$159,778
$180,000

$115,318
($57,917)
$194,502

$2,346,628
($521,250)
$1,750,522

$224,527
($53,333)
$195,764

$1,902,245
($506,250)
$1,761,876

Net Cashflow:
CUSTOMERS:

$251,904
Water
Sewer
Sanitation

$148,994
($149,532)
($855)
($1,392)

9,799
8,973
7,889

Allocation of Administration Expense = 46% Water, 44% Sewer, 10% Sanitation

$3,575,900

$366,958
9,762
8,932
7,873

$3,157,871

Page 65 of 185

City of Van Buren Water Purchased and Water Billed Report

January
February
March
April
May
June
July
August
September
October
November
December
TOTAL
UNACCOUNTED
AVG MGD
TOTAL CCF

2022
2022
Purchased
Billed
141,404,912
109,263,816
125,963,200
102,935,915
134,299,660
103,765,414
130,600,800
111,529,714
134,019,160
106,862,920
142,240,428
118,579,909
192,497,052
144,144,696
172,410,260
154,248,254
189,879,800
129,082,166
161,541,820
138,345,953
168,209,492
113,229,757
129,264,124
104,537,538
1,822,330,708 1,436,526,052
21%
4.99
2,436,271

2023
2023
2024
2024
Purchased
Billed
Purchased
Billed
139,695,732
118,200,852
170,195,432
105,066,413
139,404,012
111,681,043
149,990,456
119,125,871
144,296,680
103,851,144
133,630,948
108,171,596
143,111,100
122,787,157
145,017,752
108,146,634
145,365,572
115,661,539
130,955,352
121,244,480
145,853,268
127,152,058
164,813,572
121,423,060
153,583,100
125,857,475
170,064,532
131,671,397
169,043,512
121,567,465
159,354,668
144,432,179
151,407,168
139,925,872
174,810,592
135,923,554
158,369,552
119,050,173
143,029,568
122,398,676
138,429,368
110,518,469
141,487,940
128,726,766
138,105,484
107,371,529
142,641,365
110,248,209
1,766,664,548 1,423,624,776 1,825,992,177 1,456,578,835
19%
20%
4.84
5.00
2,361,851
2,441,166

WATER PURCHASED DATES
normally 29th - 30th
WATER BILLED DATES (approximate)
ZONE 1
8th - 8th
ZONE 2
15th-15th
ZONE 3
1st - 1st
ZONE 4
8th - 8th

example
July 29 - Aug 30
July 8 - Aug 8
July 15 - Aug 15
July 1 - Aug 1
July 8 - Aug 8

2025
2025
2026
Purchased
Billed
Purchased
151,385,476
101,389,680
138,436,848
146,008,104
120,000,423
127,807,020
127,455,460
107,828,808
129,348,648
134,369,972
93,967,099
129,695,720
159,504,268
109,616,763
130,083,184
150,933,684
115,524,276
144,545,016
159,857,324
122,049,600
155,273,580
151,956,948
131,892,285
169,288,108
146,577,332
119,221,040
156,294,600
139,592,508
120,474,204
146,798,740
118,920,839
148,126,440
97,201,489
1,762,566,256 1,358,086,506 1,280,772,724
23%
25%
4.83
4.69
2,356,372
1,712,263

2026
Billed
98,517,830
118,735,757
87,464,439
99,828,939
98,026,917
100,479,242
106,428,295
132,511,248
123,050,862

965,043,529

PEAK DAY PURCHASE Million Gallons per Day (MGD)
January
5.57
August
6.60
February
6.08
September
6.38
March
5.69
August
April
5.32
September
May
5.50
October
June
5.34
November
July
5.84
December

29%
7%
32%
23%
25%
30%
31%
22%
21%

Page 66 of 185

September 2026
Vehicle Report
VEHICLE/EQUIPMENT
#1 - 1995 John Deer Tractor
#7 - 2024 Vermeer Vacuum Extractor
#13 - 2011 Sewer Line Hydrocleaner
#14 - 2006 Case 580 M Backhoe
#3 - 2023 Caterpillar 305 Excavator
#31 - 2019 Caterpillar Excavator
Maintenance Crew Trailers/Equipment
Plant Crew Trailers/Equipment

DEPT.
10 20 30
15 25 35
25
15 25
15 25
15 25
15 25
10 20 30

#92 - 2021 Chevrolet 2WD- Plant Crew
#81 - 2019 Ford 4WD - Plant Crew
#93 - 2020 Chevrolet 4WD - Assistant Director
#95 - 2021 Ram 1 Ton - Line Maintenance
#75 - 2014 Ford 2WD - Meter Crew
#84 - 2020 Ram 1 Ton - Line Maintenance
#54 - 2008 GMC Dump Truck
#97 - 2025 International Dump Truck
#02 - 2026 Ram 4WD - Dirictor of Meter Services
#72 - 2012 Chevrolet 4WD - Plant Crew
#85 - 2021 Ram 1 Ton - Line Maintenance
#94 - 2020 Chevrolet 4WD - Director of Utilities
#79 - 2019 Ram 2WD - Pretreatment
#83 - 2020 Ram 4WD - Meter Crew
#82 - 2020 Ford 4WD - Meter Crew
#03 - 2026 Ram 4WD - Meter Crew
#86 - 2022 Chevrolet 2WD- Plant Crew
#04 - 2026 Ram 4WD - Plant Crew
#98 - 2024 Ram 1 Ton - Line Maintenance
#78 - 2019 Ram 2WD - Meter Crew
#80 - 2019 Ram 4WD - Meter Crew
#96 - 2024 Ford F550 - Sewer CCTV
#88 - 2020 Chevrolet 4WD - Director of O&M
#89 - 2019 Chevrolet 4WD - Dir. of Supply & Treatmnt
#90 - 2022 Freightliner Sewer Combo Truck
#91 - 2020 Chevrolet 2WD - Locator

10 20 30
10 20 30
45
15 25
35
10 20 30
15 25
15 25
35
10 20 30
15 25
45
10 20 30 40
35
35
35
10 20 30
10 20 30
15 25
35
35
25
15 25
10 20 30 40
104.08
15 25

Subtotal
DIESEL for Equipment
Total

VEHICLE MONTHLY
MILES
MILES
GALLONS

105,225
88,494
48,763
62,889
126,709
36,296
26,968
4,530
7039
115,348
38,414
57,427
52,252
87,140
58,167
6,960
53,537
9,390
42,248
121,184
129,517
3,839
76,586
82,682
15,341
75,638

1,707
980
440
688
831
219
193
150
1131
557
252
2,048
276
465
838
1,519
307
1,843
810
1,741
1,363
0
1,405
1,141
137
990

20,324

FUEL

REPAIRS

$146.53

$491.52

106
106
36
101
83
42
39
32
70
55
43
109
24
58
153
125
19
147
175
143
130
0
100
81
66
86

$446.38
$411.06
$144.84
$512.37
$374.38
$213.93
$199.83
$175.56
$271.11
$212.35
$203.61
$449.59
$100.43
$228.85
$624.81
$561.15
$76.97
$553.64
$885.02
$543.62
$523.71
$0.00
$428.99
$326.86
$335.57
$368.78

$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$101.67
$73.72
$2,084.83
$0.00
$0.00
$72.77
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$50.69
$0.00
$581.27
$1,347.90

2,161

$9,319.94

2,161

$9,319.94

$4,804.37

Page 67 of 185

1
2
3
4
5
6
7
8
9
10
11
12
13

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16

1
2
3
4
5
6
7

2026
City of Van Buren Municipal Utilities
Capital Improvement Plan
SEWER PROJECTS
Terry & Todd/Rickey Pump Station Interceptor Line
Parkview Drive/Woodrow Sewer Line - Loan Funded
28th Gravity Interceptor - Loan Funded
North WWTP Bar Screen Emergency Rehabilitation
South Plant WWTP Aeration Basin Baffle Emergency Replacement
South 3rd Street Sewer Line Emergency Replacement 130'
North 35th Street Sewer Line Emergency Replacement 200'
Baldwin/N.23rd Street Sewer Line Emergency Replacement 460'
Rudy Road Circle Sewer Line Emergency Replacement 280'
North WWTP Screw Pump Replacement
South 59 (IND PARK) Pump Station Pump(s) Replacement
South WWTP Sludge/EQ Basin Aerator(s) Replacement
ARDOT Job 040872 HWY 59 Project - Sewer Line Relocation
SEWER PROJECTS TOTAL
WATER PROJECTS
Water Meter & Equipment Replacement
Rena Road Tank Recoatin/Mixing 2025
Lovers Lane & Fir Drive Emergency Water Line Relocation Phase I
Lovers Lane & Fir Drive Emergency Water Line Relocation Phase II
Lee Creek/I-40 Emergency Water Line Replacement
Downtown Water System Improvements Phase I- Loan Funded
Downtown Water System Improvements Phase II- Loan Funded
Lovers Lane Tank Recoating/Mixing - Loan Funded
Dora Tank Recoating/Mixing - Loan Funded
Crestview Tank Recoating/Mixing - Loan Funded
Water Meter Automatic Read Base Station Phase I
Pointer Trail Pump Station - Backup Pump/Motor
Prospect Pump Station - Backup Pump/Motor
Lead Service Line Baseline Inventory
ARDOTJob 040872 HWY 59 Project - Water Line Relocation
Water Master Plan Update - ADH Requirement
WATER PROJECTS TOTAL
EQUIPMENT REPLACEMENTS/ADDITIONS
Front Office Security Windows/Barriers
Vehicle Addition - Meter Services Department
Vehicle Replacement - Unit 87 - Meter Services
Vehicle Replacement - Unit 76 - Supply & Treatment
Equipment Addition - Pavement Roller
Equipment Replacement - Lawn Mower
Trench Safety Shoring
EQUIPMENT TOTAL
TOTAL PROJECTS AND EQUIPMENT

Estimated
Construction/
Purchase
$2,596,990
$3,016,500
$3,871,000
$210,000
$82,450
$40,000
$46,175
$120,000
$83,450
$500,000
$40,000
$85,000
$297,500
$10,989,065

$400,000
$608,000
$75,000
$40,000
$790,000
$3,193,500
$1,800,000
$470,000
$360,000
$900,000
$146,000
$60,000
$70,000

Estimated
Engineering/
Miscellaneous
$389,549
$418,500
$559,000

Approved
Construction/
Purchase
$1,543,591
$2,464,253
$1,426,100
$210,000
$82,450
$37,300
$46,175
$120,000

Change
Orders &
EXP *+/$99,475
$693,741
$15,222

$60,000

$1,427,049

$75,000
$15,000
$7,000
$135,000
$556,500
$310,500
$160,000
$122,950
$287,050

Construction/
Purchase
Expended
$1,652,174
$693,741
$927,592
$225,222
$82,450

Engineering/
Miscellaneous
Expended
$280,767
$211,075
$165,680

Total Project Estimated
Expended
Outstanding

$43,966

$37,878

$81,844
$0
$28,437
$34,803
$4,601,329

$28,437

$5,958,305

$3,653,582

$343,101
$695,777
$75,000
$40,000
$581,524
$3,432,549

$48,458
$14,526
$7,325

$343,101
$740,214
$90,070
$47,355
$1,003,730
$35,265
$0
$0
$0

$511,457
$360,667
$746,163
$146,000

$30,000
$42,000
$42,000
$42,000
$42,000
$11,500
$15,000
$224,500
$20,423,565

$79,021
$14,457
$7,484
$62,257
$263,532
$30,046
$38,664
$34,474
$56,096

$11,435
$101,706

$297,500
$9,210,000

$34,803
$730,203

$1,669,000

$6,932,238

$30,000
$42,000
$42,000
$42,000
$42,000
$11,500
$209,500
$13,100,043

$2,259,735

($2,881)
($2,881)
($2,881)
($22)
$1,133

$39,119
$39,119
$39,119
$41,978
$12,633
$171,968
$6,085,286

$699,170

$1,958,310
$904,816
$1,093,272
$225,222
$82,450
$37,300
$46,175
$108,700

$343,101
$819,235
$104,526
$54,838
$62,257
$1,267,262
$65,311
$38,664
$34,474
$56,096
$0

$74,305
$2,671,677
$891,828
$0
$0
$0
$0
$0
$83,450
$478,156
$40,000
$56,563
$262,697
$4,558,676

$56,899
$0
$0
$0
$654,267
$2,721,787
$2,045,189
$632,793
$449,143
$977,117
$146,000
$60,000
$70,000

$11,435
$101,706
$0
$2,958,905

$195,794
$0
$8,008,988

$0
$39,119
$39,119
$39,119
$41,978
$12,633
$0
$171,968
$7,732,202

$30,000
$0
$0
$0
$0
$0
$15,000
$45,000
$12,612,664

Page 68 of 185

VBMU Water Capital Improvement Plan - Long Range

1 Water Meter & Equipment Replacement - 2026
2 Rena Road Tank Recoatin/Mixing
3 Lovers Lane & Fir Drive Emergency Water Line Relocation Phase I&II
4 Lee Creek/I-40 Emergency Water Line Replacement
5 Downtown Water System Improvements Phase I- Loan Funded
6 Downtown Water System Improvements Phase II- Loan Funded
7 Lovers Lane Tank Recoating/Mixing - Loan Funded
8 Dora Tank Recoating/Mixing - Loan Funded
9 Crestview Tank Recoating/Mixing - Loan Funded
10 Water Meter Automatic Read Base Station Phase I
11 Pointer Trail Pump Station - Backup Pump/Motor
12 Prospect Pump Station - Backup Pump/Motor
13 Lead Service Line Baseline Inventory
14 Water Master Plan Update - ADH Requirement
15 ARDOTJob 040872 HWY 59 Project - Water Line Relocation
16 Downtown Water System Improvements Phase III
MP FP19
17 Alma Hwy/16th to 28th Line Improvements MP CL20
18 Knox Street Master Meter FCV/Improvements MP CL47
19 Legacy Blvd to East Northridge Dr MPCL42
20 North Highway 59 (East side of Road) 19 Crystal View/Sandstone Line Extension for Loop Feed - MP CL37/38
MP CL46
20 North HWY 59 (East side of Road) MP CL 44
21 East Union Town Rd to Northbrook Reservoir MP CL 43
22 East Union Town Road (East of 59 to CL44) 23 Pointer Trail Reservoir - Recoating
24 Prospect Reservoir - Recoating/Mixing
MP CL49
25 North 16th Street Line Extension N.
Hills
Blvd/
Kitty
Hawk
Line
Improvements
MP FP3
26
MP CL2
27 Water System GIS and Mapping MP CL45
28 Oliver Springs Rd Ext/N.59 Reservoir to Rudy Rd. 2018 Master Plan
29 Fire Protection Improvements 2018 Master Plan
30 Domestic Service Improvements 2018 Master Plan
31 Capital Improvements WATER CIP PROJECTS TOTAL
ESTIMATED OUTSTANDING WATER LONG-RANGE NEEDS

WATER LONG-RANGE CAPITAL IMPROVEMENT PLAN

Estimated
Cost
$400,000
$683,000
$137,000
$925,000
$3,193,500
$2,110,500
$630,000
$482,950
$1,187,050
$146,000
$60,000
$70,000
$0
$0
$297,500
$1,500,000
$2,275,500
$145,500
$350,000
$136,000
$1,108,000
$315,000
$784,000
$2,507,000
$1,200,000
$1,200,000
$510,000
$574,000
$1,000,000
$3,367,000
$7,751,750
$9,912,600
$37,546,600
$82,505,450

Target
Expended Completion
$343,101 Ongoing
$819,235 2025-2026
$159,365 2026
$62,257
2026
$1,267,262 2026 - 2027
$65,311
2026 - 2027
$38,664
2026
$34,474
2026
$56,096
2027
$0
2026
$0
2026
$0
2026
$11,435
2026 - 2028
$0
2026 - 2027
$101,706 2026 - 2030
2027 - 2029
2027 - 2029
2027 - 2029
2027 - 2029
2029 - 2031
2029 - 2031
2029 - 2031
2029 - 2031
2029 - 2031
2033
2033

$2,958,905
$79,546,545

PAGE TWO

Page 69 of 185

VBMU Sewer Capital Improvement Plan - Long Range

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24

1
2
3
4
5
6
7
8
9

Estimated
Cost
$2,032,615
Terry & Todd/Rickey Interceptor Line
$3,435,000
Parkview Drive/Woodrow Sewer Line - Loan Funded
$4,430,000
28th Gravity Interceptor - Loan Funded
$210,000
North WWTP Bar Screen Emergency Repair
South Plant WWTP Aeration Basin Baffle Emergency Replacement $82,450
South 3rd Street Sewer Line Emergency Replacement 130'
$40,000
North 35th Street Sewer Line Emergency Replacement 200'
$46,175
Baldwin Street Sewer Line Emergency Replacement 460'
$120,000
Rudy Road Circle Sewer Line Emergency Replacement 280'
$0
$560,000
North WWTP Screw Pump Replacement
$85,000
South WWTP Sludge/EQ Basin Aerator(s) Replacement
$40,000
South 59 (IND PARK) Pump Station Pump(s) Replacement
$297,500
ARDOT Job 040872 HWY 59 Project - Sewer Line Relocation
Parkview Sewer Phase II (24th St to Alma Blvd 1,500')
North Hills Blvd. Sewer Line (Azure to Pointer Tr. 1,900')
North WWTP Improvements
$3,000,000
$1,000,000
South WWTP Improvements
$3,230,000
Pointer Trail Phase I-II SSES
$2,590,000
South 28th St. Interceptor Phase II-III (Kibler Road) SSES
Pevehouse Phase I (PS & FM)
$6,760,000
Pevehouse Phase II-III
$3,920,000
$7,590,000
S. 4th St. Interceptor Phase II-VII
$11,350,000
SSES - Sewer System Improvements
$12,850,000
SSES - Sewer System Improvements
$63,668,740
SEWER CIP PROJECTS TOTAL
ESTIMATED OUTSTANDING SEWER LONG-RANGE NEEDS
CONSENT ADMINISTRATIVE ORDER REQUIRED
Capital Improvement and SSES/CMOM ITEMS
Manhole Inspections
Chemical Root Control
Flow Monitoring
Clean, Inspect, CCTV Sewer Lines
Parkview Drive/Woodrow Gravity Sewer Line
City Park Pump Station Replacement
City Park Gravity Sewer Line
Replacement or Rehabilitiation - 100 Priority Manholes
Priority Sewer Line Repairs/Replacement - 6,600'

Estimated
Cost
$500,000
$500,000
$80,000
$1,000,000
$4,128,741
$2,120,000
$920,000
$1,000,000
$1,400,000
$11,648,741

Expended
$1,958,310
$904,816
$1,093,272
$225,222
$82,450
$37,300
$46,175
$108,700
$0
$81,844
$28,437
$0
$34,803

Target
Completion
2026
2026
2026
2026
2026
2026
2026
2026
2026
2026
2026
2026
2026 - 2030
2027 - 2029
2027 - 2029
2028 - 2031
2028 - 2031
2028 - 2031
2028 - 2031

$4,601,329
$59,067,411
Milestone
$230,259
$84,241
$532,819
$223,000
$904,816

$407,839
$1,095,033
$3,478,007

2015 - 2035
2015 - 2035
2015 - 2035
2015 - 2035
2023 - 2026
2027 - 2030
2033 - 2035
2018 - 2032
2021 - 2035

ESTIMATED OUTSTANDING CAO LONG-RANGE NEEDS

$8,170,734

SEWER LONG-RANGE CAPITAL IMPROVEMENT PLAN

PAGE THREE

Page 70 of 185

VBMU Equipment Capital Improvement Plan - Long Range
1 Front Office Security Windows/Barriers
2 Vehicle Addition - Meter Services Department
3 Vehicle Replacement - Unit 87 - Meter Services
4 Vehicle Replacement - Unit 76 Supply & Treatment
5 Equipment Addition - Pavement Roller
6 Equipment Replacement - Lawn Mower
7 Trench Safety Shoring
8 Large Format Plotter (Map Printer/Copier/Scanner)
9 Vehicle Replacement - Unit 54 - 2008 Dump Truck
10 Vehicle Replacement - Unit 75 Meter Services
11 Vehicle Replacement - Unit 78 Meter Services
12 Equipment Replacement - Unit 6 - Sewer Line Hydrocleaner
13 Vehicle Replacement - Unit 83 Meter Services
14 Equipment Replacement - Portable Generator
15 Vehicle Replacement - Unit 80 Meter Services
16 Vehicle Replacement - Unit 72 Supply & Treatment
17 Equipment Replacement - Backhoe Excavator - Unit 14
18 Replacement Copier/Printer
19 Lovers Lane & Fir Drive Emergency Water Line Relocation
20 Vehicle Replacement - Unit 92 Supply & Treatment
21 Vehicle Replacement - Unit 82 Meter Services
22 Vehicle Replacement - Unit 89 Supply & Treatment
23 Vehicle Replacement - Unit 91 Line Operations & Maintenance
EQUIPMENT TOTAL
ESTIMATED OUTSTANDING EQUIPMENT LONG-RANGE NEEDS

Estimated
Cost
$30,000
$42,000
$42,000
$42,000
$42,000
$11,500
$15,000
$10,000
$89,000
$50,000
$50,000
$80,000
$50,000
$95,000
$50,000
$50,000
$87,000
$12,000
$70,000
$50,000
$50,000
$50,000
$50,000
$1,117,500

Target
Expended Completion
2026
$0
2026
$39,119
2026
$39,119
2026
$39,119
2026
$41,978
2026
$12,633
2026
$0
2027
2027
2027
2027
2027
2028
2028
2028
2028
2029 - 2030
2029 - 2030
2029 - 2030
2029 - 2030
2029 - 2030
2029 - 2030
2029 - 2030
$171,968
$945,532

SUMMARY OF ESTIMATED OUTSTANDING LONG-RANGE NEEDS
WATER CIP
$79,546,545
SEWER CIP
$67,238,144
EQUIPMENT REPLACEMENTS/ADDITIONS
$945,532
TOTAL

EQUIPMENT LONG-RANGE CAPITAL IMPROVEMENT PLAN

$147,730,221

PAGE

FOUR

Page 71 of 185

VBMU WATER INFRASTRUCTURE
Reservoir
Gallons
Address
1 Parkview Groundstorage
1,500,000 1602 Parkview
2 Pernot Groundstorage
500,000
1001 Pernot
3 Prospect Groundstorage
3,000,000 320 Prospect
4 Prospect Concrete (NOT IN SERVICE)
1,500,000 320 Prospect
5 Pointer Trail Elevated
250,000
1712 Bunker Hill
6 Northbrook/Hwy 59 North Standpipe
450,000
1100 NorthBrook Dr.
7 Industrial Park Elevated
1,000,000 300 S.35th St.
8 Parkridge Aquaglass Standpipe
250,000
2600 Parkway Lane
9 Rena Road Groundstorage
700,000
2204 Park Ave
10 Loverslane Elevated
150,000
Lovers Lane
11 Crestview Groundstorage
1,500,000 801 Kimberly Dr.
12 Dora Standpipe
100,000
1517 Holt Summit
*PLANNED FOR REACOATING AND ADDING MIXING SYSTEMS

Constructed
1956
1973
1963
1948
1990
1991
1990
1995
1995
2000
1997
2004

Formal Inspect
2024
2024
2025

Recoated
2020
2017
2012

2024
2024
2024
2024
2026
2017
2017
2019

2010
2020
2014
2023
*2026
*2026
*2027
*2026

Water Pump Stations
1 Prospect - Generator
2 Arkansas & Knox (NOT IN SERVICE)
3 Mt Vista
4 Hwy 59 North - Generator
5 Pointer Trail
6 Park Ridge
7 Dora - Generator

GPM
1500
1500
450
890
1000
200
100

Address
320 Prospect
407 Knox
89 Vista Hill Blvd
2248 Lori Lane
115 1/2 Pointer Trail
2204 Park Ave
3743 Dora Road

Constructed
1973
1980
1961
1991
1990
1995
2004

Rehab
2016

VFD
YES

BACKUP

1997
1996
2010

YES
YES
YES
YES
YES

YES
YES

Master Meter
1 Arkansas & Knox (NOT IN SERVICE)
2 1st Street
3 North 20th Street
4 Broadway
5 Rudy Road
6 Pointer Trail
7 Prospect
8 Rena Road

Size
6"
4"
6"
8"
2"
6"
10"
8"

Address
407 Knox
100 BLK North 1st St
600 BLK North 20th St
204 South 1st Street
2031 Rudy Road
115 1/2 Pointer Trail
320 Prospect
306 Rena Road

Constructed
1955
1942
1956
2013

Replaced

FCV

2025
2019
2019
2026
2023
2018
2024

NO
YES
YES
NO
VFD
YES
YES

FS POINT
002
003
004
005
006
007
008
009

Miles of water lines +/Fire hydrants +/Blow off assemblies +/Water service lines/meters +/CCC Program Backflow Prevention Assemblies +/Pressure Planes
Billing/Meter Reading Zones

WATER INFRASTRUCTURE

145
1,050
1,900
35
9,788
320
7
4

1990
1990
1990

MIXING
Passive

Passive

Mechanical

YES
YES

Page 72 of 185

VBMU SEWER INFRASTRUCTURE
Waste Water Treatment Facilities
1 South WWTP
2 North WWTP
3 Lee Creek Industrial Park WWTP
4 South Biosolids Land Application Site
5 Yoestown Biosolids Land Application Site

NPDES #
AR0021482
AR0040967
AR0037567
5211-WR-3
5316-W

MGD
4.00
2.00
0.04

Address
1401 Port Road
1945 Welnitz Drive
1200 Lee Creek Rd.
2844 S.HWY 59
2598 Yoestown Rd

Waste Water Pump Station
1 South 4th Street
2 South 28th Street
3 South Highway 59
4 Rickey Addition
5 Watson Ridge
6 North 28th Street
7 City Park
8 Oliver Springs I
9 Powderhorn
10 Legacy Valley
11 Vista North
12 Dora Rest Area
13 Pevehouse
14 Forest Oaks
15 Parkridge Transfer

WWTP
SOUTH
SOUTH
SOUTH
SOUTH
SOUTH
SOUTH
SOUTH
NORTH
NORTH
NORTH
NORTH
NORTH
NORTH
NORTH
NORTH

GPM
4000
4000
1500
150
100
127
400
62
132
300
100
160
2800
200

Address
Constructed
1210 South 4th St.
2009
409 South 28th St.
2013
1900 South 28th St.
1977
3500 Industrial Park Rd. 2021
224 North 44th St.
2004
2739 Marianne Lane
1986
1411 City Park Rd
2001
1963 Kilgore Lane
1997
2340 Vail Drive
2003
2321 Oliver Springs Rd. 2010
1004 Grandview
1985
1848 Bekaert Drive
1978
2127 Pevehouse Rd.
1994
1629 Twin Oaks Drive 2004
2210 Lee Creek Drive 1995

Miles of sewer lines +/Manholes +/Sewer connections/service lines +/Pretreatment Permitted Industries

SEWER INFRASTRUCTURE

135
2,650
8,900
8

Constructed
1963
1984
1975
1990
2019

Rehab Permit Exp.
2009 11/30/2025
2004 1/31/2031
6/30/2029
7/31/2025
1/31/2024
Rehab

2020

2022

Page 73 of 185

UTILITIES
OG & E
ARKANSAS VALLEY ELECTRIC
AVE WAVE NP INTERNET
ATT CELL/SP INTERNET
DOBSON PHONE/INTERNET HQ
WASTE MANAGEMENT - HQ/NP/SP
AOG
ADVANTAGE SECURITY
WEBSITE
JANITORIAL SERVICES
BILLING
DATA FORMS - BILLING SERVICES
PITNEY - POSTAGE
PROPERTY/VEHICLE INSURANCE
ADH SAFE DRINKING WATER FEE
FUEL CREDIT CARD
ARKANSAS ONE CALL - UTILITY LOCATIONS
FEDEX/UPS
SAMS CLUB CREDIT CARD
VISA CREDIT CARD
DAMAGE CLAIMS
COPIER - CONTRACT
MISCELLANEOUS
BOOTS - UNIFORMS
TRAINING/MEMBERSHIPS/LICENSING
DIRECT PAYABLES TOTAL

$873,559.20
$107,999.03
$127,504.83
$2,177.88
$1,350.00
$177,337.50
$135,201.00
$1,425,129.44

$39,660.84
$14,869.25
$86.95
$1,228.56
$942.64
$1,834.39
$22.54
$180.90

$62,082.97 UTILITIES
57%
of DIRECT

$3,256.90
$12,944.57

$3,885.60
$9,173.41
$402.15
$613.18
$298.41
$15,649.47
$313.90
$850.50
$273.17
$1,511.70
$107,999.03

$12,944.57 BILLING
12%
of DIRECT

Page 74 of 185

10-09-2026 10:07 AM

A/P PAYMENT REGISTER

PACKET:

08694 September GFund Payables 2026

VENDOR SET:

PAGE:

VENDOR SEQUENCE

VENDOR

ITEM NO#

DESCRIPTION

BANK

CHECK

STAT

DUE

GROSS

PAYMENT

DISC DT

BALANCE

DISCOUNT

OUTSTANDING

------------------------------------------------------------------------------------------------------------------------------------

99-1007

AAA Business System

I 519961

Sept IT Service

10/20/2026

1,922.76

1,922.76CR

1,922.76

REG. CHECK

1,922.76

1,922.76CR

1,922.76

0.00

------------------------------------------------------------------------------------------------------------------------------------

99-0024

APAC - CENTRAL, INC.

I 7002529533

Asphalt Street Repair

10/20/2026

643.90

643.90CR

643.90

I 7002541459

Street Repairs

10/20/2026

323.69

323.69CR

323.69

REG. CHECK

967.59

967.59CR

967.59

0.00

------------------------------------------------------------------------------------------------------------------------------------

99-1074

Apex Generators & Electric

I 2896

Legacy p/s

10/20/2026

391.46

391.46CR

391.46

REG. CHECK

391.46

391.46CR

391.46

0.00

------------------------------------------------------------------------------------------------------------------------------------

99-0025

Auto Repair & Truck ACC VB

I 87468963

Unit #83Air Conditioner

10/20/2026

72.77

72.77CR

72.77

I 87469257

Unit #85 Brakes & AC

10/20/2026

2,084.83

2,084.83CR

2,084.83

REG. CHECK

2,157.60

2,157.60CR

2,157.60

0.00

------------------------------------------------------------------------------------------------------------------------------------

99-0033

Bob Settles Sales

I 133029

Power Washer Head #7

10/20/2026

491.52

491.52CR

491.52

REG. CHECK

491.52

491.52CR

491.52

0.00

------------------------------------------------------------------------------------------------------------------------------------

Page 75 of 185

10-09-2026 10:07 AM

A/P PAYMENT REGISTER

PACKET:

08694 September GFund Payables 2026

VENDOR SET:

PAGE:

VENDOR SEQUENCE

VENDOR

ITEM NO#

DESCRIPTION

BANK

CHECK

STAT

DUE

GROSS

PAYMENT

DISC DT

BALANCE

DISCOUNT

OUTSTANDING

------------------------------------------------------------------------------------------------------------------------------------

99-1048

CARDS River Valley LLC

I 7889 Cust Sept

7889 Trash Customers

10/20/2026

116,999.44

116,999.44CR

116,999.44

REG. CHECK

116,999.44
116,999.44

116,999.44CR

0.00

------------------------------------------------------------------------------------------------------------------------------------

99-0196

City of Van Buren

I Sept Limb &

Leaf

Limbs & Leaf 7889

10/20/2026

19,722.50

19,722.50CR

19,722.50

REG. CHECK

19,722.50
19,722.50

19,722.50CR

0.00

------------------------------------------------------------------------------------------------------------------------------------

99-0946

Clayton's

I 14106

Consulting & Wel

Staff Guage Lee Creek

10/20/2026

1,029.30

1,029.30CR

1,029.30

REG. CHECK

1,029.30

1,029.30CR

1,029.30

0.00

------------------------------------------------------------------------------------------------------------------------------------

99-0760

CLEAN

I 48,82,71,68,110

Uniforms

10/20/2026

2,101.29

2,101.29CR

2,101.29

REG. CHECK

2,101.29

2,101.29CR

2,101.29

0.00

------------------------------------------------------------------------------------------------------------------------------------

99-1049

Consolidated Pipe Inc.

I AR2042019

Wires for Meters

10/20/2026

5,292.00

5,292.00CR

5,292.00

REG. CHECK

5,292.00

5,292.00CR

5,292.00

0.00

------------------------------------------------------------------------------------------------------------------------------------

Page 76 of 185

10-09-2026 10:07 AM

A/P PAYMENT REGISTER

PACKET:

08694 September GFund Payables 2026

VENDOR SET:

PAGE:

VENDOR SEQUENCE

VENDOR

ITEM NO#

DESCRIPTION

BANK

CHECK

STAT

DUE

GROSS

PAYMENT

DISC DT

BALANCE

DISCOUNT

OUTSTANDING

------------------------------------------------------------------------------------------------------------------------------------

99-0480

Coombes Trucking

I 26-7050

Fill Dirt

10/20/2026

490.00

490.00CR

490.00

REG. CHECK

490.00

490.00CR

490.00

0.00

------------------------------------------------------------------------------------------------------------------------------------

99-0162

Core & Main

I Z724495,160,525,54 Water & Meter Supplies

10/20/2026

16,465.82

16,465.82CR

16,465.82

I Z759217

(27) Dual Port Mxu

10/20/2026

7,370.13

7,370.13CR

7,370.13

REG. CHECK

23,835.95
23,835.95

23,835.95CR

0.00

------------------------------------------------------------------------------------------------------------------------------------

99-0932

Cove Environmental LLC

I 73-3-26

So. Pl Bio Monitoring

10/20/2026

1,500.00

1,500.00CR

1,500.00

I 73-4-26

So. Pl Bio

10/20/2026

1,500.00

1,500.00CR

1,500.00

REG. CHECK

3,000.00

3,000.00CR

3,000.00

0.00

------------------------------------------------------------------------------------------------------------------------------------

99-0868

Crawford Construction

I 267045

Move Areator @ N & S Plan

10/20/2026

800.00

800.00CR

800.00

REG. CHECK

800.00

800.00CR

800.00

0.00

------------------------------------------------------------------------------------------------------------------------------------

99-0052

Data Testing, Inc.

I 74,57,59,60,61,63, No. So. And Pretreat

9/10/2026

6,608.00

6,608.00CR

6,608.00

REG. CHECK

6,608.00

6,608.00CR

6,608.00

0.00

------------------------------------------------------------------------------------------------------------------------------------

Page 77 of 185

10-09-2026 10:07 AM

A/P PAYMENT REGISTER

PACKET:

08694 September GFund Payables 2026

VENDOR SET:

PAGE:

VENDOR SEQUENCE

VENDOR

ITEM NO#

DESCRIPTION

BANK

CHECK

STAT

DUE

GROSS

PAYMENT

DISC DT

BALANCE

DISCOUNT

OUTSTANDING

------------------------------------------------------------------------------------------------------------------------------------

99-0995

Eurofins Enviro Testing Sou

I 30210, 30280

Samples

10/20/2026

3,658.00

3,658.00CR

3,658.00

REG. CHECK

3,658.00

3,658.00CR

3,658.00

0.00

------------------------------------------------------------------------------------------------------------------------------------

99-0070

Farmers Cooperative

I 564478/6

Ant Killer

10/20/2026

29.19

29.19CR

29.19

REG. CHECK

29.19

29.19CR

29.19

0.00

------------------------------------------------------------------------------------------------------------------------------------

99-0078

Fort Smith Water Departme

I Sept Water 2026

ccf208950 gals156294600

10/20/2026

528,932.72

528,932.72CR

528,932.72

REG. CHECK

528,932.72
528,932.72

528,932.72CR

0.00

------------------------------------------------------------------------------------------------------------------------------------

99-0393

Goodwin & Goodwin

I 26-6960

ER Water Leak

10/20/2026

12,200.00

12,200.00CR

12,200.00

I 26-6992

Street Repairs

10/20/2026

2,655.00

2,655.00CR

2,655.00

I 26-6993

Road Repair

10/20/2026

22,000.00

22,000.00CR

22,000.00

I 26-7002

Concrete Work

10/20/2026

3,000.00

3,000.00CR

3,000.00

I 26-7023

Water Line Improvements

10/20/2026

18,050.00

18,050.00CR

18,050.00

I 26-7044

Concrete Water St Repairs

10/20/2026

662.50

662.50CR

662.50

REG. CHECK

58,567.50
58,567.50

58,567.50CR

0.00

------------------------------------------------------------------------------------------------------------------------------------

Page 78 of 185

10-09-2026 10:07 AM

A/P PAYMENT REGISTER

PACKET:

08694 September GFund Payables 2026

VENDOR SET:

PAGE:

VENDOR SEQUENCE

VENDOR

ITEM NO#

DESCRIPTION

BANK

CHECK

STAT

DUE

GROSS

PAYMENT

DISC DT

BALANCE

DISCOUNT

OUTSTANDING

------------------------------------------------------------------------------------------------------------------------------------

99-0085

Grainger

I 1599067160

Control Valve Rena

10/20/2026

225.16

225.16CR

225.16

I 1599411496

Walkie Talkies traffic

10/20/2026

90.57

90.57CR

90.57

I 1599703122

Drill Combo For No. Plant

10/20/2026

321.94

321.94CR

321.94

I 9066600447

Pump Bekaert

10/20/2026

2,094.63

2,094.63CR

2,094.63

REG. CHECK

2,732.30

2,732.30CR

2,732.30

0.00

------------------------------------------------------------------------------------------------------------------------------------

99-0193

Henard Utility Products

I 1080336,337,338

3 Way Ball Valve

10/20/2026

581.27

581.27CR

581.27

REG. CHECK

581.27

581.27CR

581.27

0.00

------------------------------------------------------------------------------------------------------------------------------------

99-0606

Hugg & Hall

I 7297740

Rent Generator Mt Vista

10/20/2026

4,702.88

4,702.88CR

4,702.88

REG. CHECK

4,702.88

4,702.88CR

4,702.88

0.00

------------------------------------------------------------------------------------------------------------------------------------

99-0764

Imperial, Inc.

I 1333325125

Coffee

10/20/2026

145.36

145.36CR

145.36

REG. CHECK

145.36

145.36CR

145.36

0.00

------------------------------------------------------------------------------------------------------------------------------------

Page 79 of 185

10-09-2026 10:07 AM

A/P PAYMENT REGISTER

PACKET:

08694 September GFund Payables 2026

VENDOR SET:

PAGE:

VENDOR SEQUENCE

VENDOR

ITEM NO#

DESCRIPTION

BANK

CHECK

STAT

DUE

GROSS

PAYMENT

DISC DT

BALANCE

DISCOUNT

OUTSTANDING

------------------------------------------------------------------------------------------------------------------------------------

99-0093

JDS Supply Co. LLC

I 233877

Vest

10/20/2026

258.98

258.98CR

258.98

REG. CHECK

258.98

258.98CR

258.98

0.00

------------------------------------------------------------------------------------------------------------------------------------

99-0094

Jim Grizzle Tire Co., Inc

I 103168

Unit #2 Oil Change

10/20/2026

101.67

101.67CR

101.67

I 224669

Unit#91Oil Change (4)Tire

10/20/2026

1,297.26

1,297.26CR

1,297.26

REG. CHECK

1,398.93

1,398.93CR

1,398.93

0.00

------------------------------------------------------------------------------------------------------------------------------------

99-0790

JPS Industries , Inc.

I 0926-6

So. Plant Repairs

10/20/2026

4,250.00

4,250.00CR

4,250.00

REG. CHECK

4,250.00

4,250.00CR

4,250.00

0.00

------------------------------------------------------------------------------------------------------------------------------------

99-0800

Marmic Fire & Safety Co. In

I D777758

Inspection

10/20/2026

1,037.05

1,037.05CR

1,037.05

REG. CHECK

1,037.05

1,037.05CR

1,037.05

0.00

------------------------------------------------------------------------------------------------------------------------------------

99-1102

Matlock Electric Company In

I 6,7,12,11,08,10,9

Generator Service

10/20/2026

6,212.39

6,212.39CR

6,212.39

REG. CHECK

6,212.39

6,212.39CR

6,212.39

0.00

------------------------------------------------------------------------------------------------------------------------------------

Page 80 of 185

10-09-2026 10:07 AM

A/P PAYMENT REGISTER

PACKET:

08694 September GFund Payables 2026

VENDOR SET:

PAGE:

VENDOR SEQUENCE

VENDOR

ITEM NO#

DESCRIPTION

BANK

CHECK

STAT

DUE

GROSS

PAYMENT

DISC DT

BALANCE

DISCOUNT

OUTSTANDING

------------------------------------------------------------------------------------------------------------------------------------

99-0839

McBrayer Engineering, Inc.

I 1859

Bekaert Flow Meter

10/20/2026

250.00

250.00CR

250.00

I 1860

Mt Vista Pump

10/20/2026

4,916.00

4,916.00CR

4,916.00

REG. CHECK

5,166.00

5,166.00CR

5,166.00

0.00

------------------------------------------------------------------------------------------------------------------------------------

99-0934

M I C Sales Inc,

I 66285

BEKAERTFLOW MEASURE

10/20/2026

1,985.51

1,985.51CR

1,985.51

I 66316, 66314

level transmitter & contr

10/20/2026

2,960.35

2,960.35CR

2,960.35

REG. CHECK

4,945.86

4,945.86CR

4,945.86

0.00

------------------------------------------------------------------------------------------------------------------------------------

99-0887

O'Reilly Automotive Stores,

I 5286-102838

Freon Unit #91 & Supplies

10/20/2026

64.73

64.73CR

64.73

I 5286-103231

DEF For Vehicles

10/20/2026

109.37

109.37CR

109.37

I 5286-103868

Unit #88 Wipers

10/20/2026

50.69

50.69CR

50.69

REG. CHECK

224.79

224.79CR

224.79

0.00

------------------------------------------------------------------------------------------------------------------------------------

99-0398

I 40642

Rapid Lube

Unit #72 Oil Change

10/20/2026

73.72

73.72CR

73.72

REG. CHECK

73.72

73.72CR

73.72

0.00

------------------------------------------------------------------------------------------------------------------------------------

Page 81 of 185

10-09-2026 10:07 AM

A/P PAYMENT REGISTER

PACKET:

08694 September GFund Payables 2026

VENDOR SET:

PAGE:

VENDOR SEQUENCE

VENDOR

ITEM NO#

DESCRIPTION

BANK

CHECK

STAT

DUE

GROSS

PAYMENT

DISC DT

BALANCE

DISCOUNT

OUTSTANDING

------------------------------------------------------------------------------------------------------------------------------------

99-0147

River Valley Winwater Wor

I 059430 01

Water & Meter Supplies

10/20/2026

8,519.39

8,519.39CR

8,519.39

REG. CHECK

8,519.39

8,519.39CR

8,519.39

0.00

------------------------------------------------------------------------------------------------------------------------------------

99-0005

Robertson Electrical and Me

I MORI-5271

Recondition New Bearings

10/20/2026

5,292.00

5,292.00CR

5,292.00

I MORI5270

So. Pl Areators

10/20/2026

5,457.38

5,457.38CR

5,457.38

REG. CHECK

10,749.38
10,749.38

10,749.38CR

0.00

------------------------------------------------------------------------------------------------------------------------------------

99-0150

S & S Super Stop

I 95,15,06,72,810

Gas & Supplies

10/20/2026

255.38

255.38CR

255.38

REG. CHECK

255.38

255.38CR

255.38

0.00

------------------------------------------------------------------------------------------------------------------------------------

99-0623

Swaim Office Products

I 272505

copy paper 3-boxes

10/20/2026

143.83

143.83CR

143.83

I 272577

Offfice Supplies

10/20/2026

179.59

179.59CR

179.59

REG. CHECK

323.42

323.42CR

323.42

0.00

------------------------------------------------------------------------------------------------------------------------------------

99-0848

Thomas Electric CO Inc.

I 26-20692

Parkridge Dump Station Pu

10/20/2026

565.00

565.00CR

565.00

I 26-20693

TS Receptacles So. PL.

10/20/2026

200.00
200.00

200.00CR

Page 82 of 185

10-09-2026 10:07 AM

A/P PAYMENT REGISTER

PACKET:

08694 September GFund Payables 2026

VENDOR SET:

PAGE:

VENDOR SEQUENCE

VENDOR

ITEM NO#

DESCRIPTION

BANK

CHECK

STAT

DUE

GROSS

PAYMENT

DISC DT

BALANCE

DISCOUNT

OUTSTANDING

-----------------------------------------------------------------------------------------------------------------------------------99-0848

Thomas Electric CO Inc.

I 26-20694

(CONT)

Beakert Pulsar

10/20/2026

940.00

940.00CR

940.00

I 26-20699

Mt Vista T/s Drive

10/20/2026

940.00

940.00CR

940.00

I 26-20700

Replace Pulsar S0. 28th

10/20/2026

2,967.93

2,967.93CR

2,967.93

I 26-20748

No. Pl Repair to UV

10/20/2026

385.00

385.00CR

385.00

I 26-20750

Rena Rd Master Meter

10/20/2026

745.00

745.00CR

745.00

I 26-20756

T/S Bekaert

10/20/2026

930.00

930.00CR

930.00

I 2620745

Drive Motor Prospect PS

10/20/2026

16,718.43

16,718.43CR

16,718.43

REG. CHECK

24,391.36
24,391.36

24,391.36CR

0.00

------------------------------------------------------------------------------------------------------------------------------------

99-0640

Truman E Crawford

I 12980

Bekaert Pump Out

10/20/2026

575.00

575.00CR

575.00

REG. CHECK

575.00

575.00CR

575.00

0.00

------------------------------------------------------------------------------------------------------------------------------------

99-0270

USA Blue Book HD Supply Fac

I 01154025

Furnace So. Plant

10/20/2026

3,433.08

3,433.08CR

3,433.08

I INV0110622

Bull Head

10/20/2026

957.89

957.89CR

957.89

I INV01157158

Supplies

10/20/2026

932.85

932.85CR

932.85

REG. CHECK

5,323.82

5,323.82CR

5,323.82

0.00

------------------------------------------------------------------------------------------------------------------------------------

Page 83 of 185

10-09-2026 10:07 AM

A/P PAYMENT REGISTER

PACKET:

08694 September GFund Payables 2026

VENDOR SET:

PAGE:

VENDOR SEQUENCE

VENDOR

ITEM NO#

DESCRIPTION

BANK

CHECK

STAT

DUE

GROSS

PAYMENT

DISC DT

BALANCE

DISCOUNT

OUTSTANDING

------------------------------------------------------------------------------------------------------------------------------------

99-0985

Water Tech, Inc

I 188779

(4) Scent Blocks So. PL

10/20/2026

3,058.29

3,058.29CR

3,058.29

I 188908

Mag North Plant

10/20/2026

4,660.20

4,660.20CR

4,660.20

I 188909

Hydro Peroxide

10/20/2026

6,598.45

6,598.45CR

6,598.45

I 190382

Mag No. Plant

10/20/2026

4,430.02

4,430.02CR

4,430.02

REG. CHECK

18,746.96
18,746.96

18,746.96CR

0.00

------------------------------------------------------------------------------------------------------------------------------------

99-0707

Wholesale Electric Supply

I S011303621.001

Wire for Areators So Pl

10/20/2026

2,511.63

2,511.63CR

2,511.63

REG. CHECK

2,511.63

2,511.63CR

2,511.63

0.00

------------------------------------------------------------------------------------------------------------------------------------

99-0172

Yeager Hardware

I 26-7038

Ice Chest for Samples

10/20/2026

35.25

35.25CR

35.25

I 728265

Lumber for sidewalk

10/20/2026

12.33

12.33CR

12.33

I 728357

TAPE,WRENCH,TUBING

10/20/2026

154.55

154.55CR

154.55

I 728643

Battery for Pretreat

10/20/2026

79.25

79.25CR

79.25

I 728849

Cleaning Supplies

10/20/2026

42.96

42.96CR

42.96

I 728893

WtrFittingsRepair 7 N27th

10/20/2026

32.53

32.53CR

32.53

I 729048,729054

Bekaert Concrete Anchors

10/20/2026

19.32
19.32

19.32CR

Page 84 of 185

10-09-2026 10:07 AM

A/P PAYMENT REGISTER

PACKET:

08694 September GFund Payables 2026

VENDOR SET:

PAGE:

VENDOR SEQUENCE

VENDOR

ITEM NO#

DESCRIPTION

BANK

CHECK

STAT

DUE

GROSS

PAYMENT

DISC DT

BALANCE

DISCOUNT

OUTSTANDING

-----------------------------------------------------------------------------------------------------------------------------------99-0172

Yeager Hardware

I 729051

(CONT)

Hand Spade

10/20/2026

9.89

9.89CR

9.89

I 729112

5 Gal Water Jug

10/20/2026

38.55

38.55CR

38.55

I 729235

Form Board

10/20/2026

183.54

183.54CR

183.54

I 729339

Tools Maint Crew

10/20/2026

79.28

79.28CR

79.28

I 729393

Mic install Front Office

9/25/2026

13.38

13.38CR

13.38

I 729625

Utility knife, claw tool

10/20/2026

34.13

34.13CR

34.13

I 729660

Water Samples

10/20/2026

32.09

32.09CR

32.09

I 729786

#75 tools

10/20/2026

24.22

24.22CR

24.22

I 729795

Electrical Tape

10/20/2026

15.37

15.37CR

15.37

REG. CHECK

806.64

806.64CR

806.64

0.00

------------------------------------------------------------------------------------------------------------------------------------

Page 85 of 185

10-09-2026 10:07 AM

A/P PAYMENT REGISTER

PACKET:

08694 September GFund Payables 2026

VENDOR SET:

===================================================

R E P O R T

F U N D

FUND NO#

PAGE:

T O T A L S

===================================================

D I S T R I B U T I O N

FUND NAME

AMOUNT

---------------------------------------------------------100

General Fund

880,929.33CR

** TOTALS **

880,929.33CR

====================================================================================================================================

TOTAL CHECKS TO PRINT:

---- TYPE OF CHECK TOTALS ----

NUMBER

GROSS

PAYMENT

BALANCE

DISCOUNT

0.00

HAND CHECKS

DRAFTS

REG-CHECKS

880,929.33

0.00

EFT

NON-CHECKS

ALL CHECKS

880,929.33CR

880,929.33

880,929.33
880,929.33

880,929.33CR

OUTSTANDING

0.00

------------------------------------------------------------------------------------------------------------------------------------

ERRORS:

WARNINGS:

Page 86 of 185

10-08-2026 11:03 AM

A/P PAYMENT REGISTER

PACKET:

08695 Sept WTR CIP 2026

VENDOR SET:

PAGE:

VENDOR SEQUENCE

VENDOR

ITEM NO#

DESCRIPTION

BANK

CHECK

STAT

DUE

GROSS

PAYMENT

DISC DT

BALANCE

DISCOUNT

OUTSTANDING

------------------------------------------------------------------------------------------------------------------------------------

99-0162

Core & Main

I Z653427,98294

(200) 3/4" Meters

10/20/2026

36,382.50

36,382.50CR

36,382.50

I Z694926

(27) MXU's

10/20/2026

7,370.13

7,370.13CR

7,370.13

REG. CHECK

43,752.63
43,752.63

43,752.63CR

0.00

------------------------------------------------------------------------------------------------------------------------------------

99-0868

Crawford Construction

I Pay Request #1 26

I 40 & Lee Creek

10/20/2026

58,596.00

58,596.00CR

58,596.00

REG. CHECK

58,596.00
58,596.00

58,596.00CR

0.00

------------------------------------------------------------------------------------------------------------------------------------

99-0090

Hawkins-Weir Engineers

I 260954

HWY 59 Utility Reloc

10/20/2026

11,955.00

11,955.00CR

11,955.00

I 260956

I-40 Lee Creek

10/20/2026

5,831.07

5,831.07CR

5,831.07

REG. CHECK

17,786.07
17,786.07

17,786.07CR

0.00

------------------------------------------------------------------------------------------------------------------------------------

Page 87 of 185

10-08-2026 11:03 AM

A/P PAYMENT REGISTER

PACKET:

08695 Sept WTR CIP 2026

VENDOR SET:

===================================================

R E P O R T

F U N D

FUND NO#

PAGE:

T O T A L S

===================================================

D I S T R I B U T I O N

FUND NAME

AMOUNT

---------------------------------------------------------100

General Fund

120,134.70CR

** TOTALS **

120,134.70CR

====================================================================================================================================

TOTAL CHECKS TO PRINT:

---- TYPE OF CHECK TOTALS ----

NUMBER

GROSS

PAYMENT

BALANCE

DISCOUNT

0.00

HAND CHECKS

DRAFTS

REG-CHECKS

120,134.70

0.00

EFT

NON-CHECKS

ALL CHECKS

120,134.70CR

120,134.70

120,134.70
120,134.70

120,134.70CR

OUTSTANDING

0.00

------------------------------------------------------------------------------------------------------------------------------------

ERRORS:

WARNINGS:

Page 88 of 185

10-09-2026 09:41 AM

VENDOR

A C C O U N T S
O P E N

P A Y A B L E

I T E M

PAGE:

R E P O R T

D E T A I L

TYPE ---ID--BANK

ITEM DT/

DUE DT/ PAY DT/ 1099 -------- DESCRIPTION ---------

GROSS/

POST DT

DISC DT

BALANCE

CHECK#

-DISTRIBUTION-

------------------------------------------------------------------------------------------------------------------------------------

99-1

Miscellaneous Vendor

INV

Ordinance 8/26

9/03/26

============ TOTALS:

GROSS:

2,177.88

0/00/00

9/03/26
260728

PAYMENTS:

USA Today Co. :

2,177.88

PO:

2,177.88- DISCS:

0.00

ADJS:

0.00

BAL:

0.00

======

Page 89 of 185

10-08-2026 11:47 AM

A/P PAYMENT REGISTER

PACKET:

08698 SEPT SWR CIP 2026

VENDOR SET:

PAGE:

VENDOR SEQUENCE

VENDOR

ITEM NO#

DESCRIPTION

BANK

CHECK

STAT

DUE

GROSS

PAYMENT

DISC DT

BALANCE

DISCOUNT

OUTSTANDING

------------------------------------------------------------------------------------------------------------------------------------

99-0393

Goodwin & Goodwin

I SWR-801

Manhole Repair 35&Cherry

CONTR

10/20/2026

46,175.00

46,175.00CR

46,175.00

I SWR-802

2200 Blk Baldwin

CONTR

10/20/2026

108,700.00

108,700.00CR

108,700.00

REG. CHECK

154,875.00
154,875.00

154,875.00CR

0.00

------------------------------------------------------------------------------------------------------------------------------------

99-0090

Hawkins-Weir Engineers

I 260892

Ricky P/S Interceptor

CONTR

10/20/2026

10,507.50

10,507.50CR

10,507.50

I 260954-B

HWY 59 Utility Reloc

CONTR

10/20/2026

11,955.00

11,955.00CR

11,955.00

REG. CHECK

22,462.50
22,462.50

22,462.50CR

0.00

------------------------------------------------------------------------------------------------------------------------------------

Page 90 of 185

10-08-2026 11:47 AM

A/P PAYMENT REGISTER

PACKET:

08698 SEPT SWR CIP 2026

VENDOR SET:

===================================================

R E P O R T

F U N D

FUND NO#

PAGE:

T O T A L S

===================================================

D I S T R I B U T I O N

FUND NAME

AMOUNT

---------------------------------------------------------100

General Fund

177,337.50CR

** TOTALS **

177,337.50CR

====================================================================================================================================

TOTAL CHECKS TO PRINT:

---- TYPE OF CHECK TOTALS ----

NUMBER

GROSS

PAYMENT

BALANCE

DISCOUNT

0.00

HAND CHECKS

DRAFTS

REG-CHECKS

177,337.50

0.00

EFT

NON-CHECKS

ALL CHECKS

177,337.50CR

177,337.50

177,337.50
177,337.50

177,337.50CR

OUTSTANDING

0.00

------------------------------------------------------------------------------------------------------------------------------------

ERRORS:

WARNINGS:

Page 91 of 185

10-09-2026 09:54 AM

VENDOR

A C C O U N T S
O P E N

P A Y A B L E

I T E M

PAGE:

R E P O R T

D E T A I L

TYPE ---ID--BANK

ITEM DT/

DUE DT/ PAY DT/ 1099 -------- DESCRIPTION ---------

GROSS/

POST DT

DISC DT

BALANCE

CHECK#

-DISTRIBUTION-

------------------------------------------------------------------------------------------------------------------------------------

99-0090

Hawkins-Weir Engineers

INV

28th St Intercept

9/28/26

SWRL1

9/28/26

CrestveiwNRD24-070

9/28/26

WTRL2

9/28/26

Dora Tank PA737

9/28/26

WTRL2

9/28/26

Lovers Lane PA736

9/28/26

WTRL2

9/28/26

============ TOTALS:

99-0868

GROSS:

0/00/00

9/28/26

100010

0/00/00

9/28/26

Hawkins-Weir Engineers

450.00
0.00

Hawkins-Weir Engineers

300.00

9/28/26

PO:

130008

15,915.00

0.00

PO:

130008

0/00/00

14,565.00

PO:

130008

0/00/00

Hawkins-Weir Engineers

0.00

Hawkins-Weir Engineers

600.00

PAYMENTS:

PO:

15,915.00- DISCS:

0.00

ADJS:

0.00

BAL:

0.00

======

0.00

======

Crawford Construction

INV

28th Intercept NRD

9/28/26

SWRL1

9/28/26

============ TOTALS:

GROSS:

120,636.00

0/00/00

9/28/26

100009

PAYMENTS:

Crawford Construction

120,636.00

PO:

120,636.00- DISCS:

0.00

ADJS:

0.00

BAL:

Page 92 of 185

CITY OF VAN BUREN MUNICIPAL UTILITIES COMMISSION
RESOLUTION 10-1-2026
A RESOLUTION ADJUSTING CHARGES AND RATES FOR
RESIDENTIAL SANITATION COLLECTION SERVICES
WHEREAS, the City of Van Buren, Arkansas has implemented a mandatory
residential solid waste management system and recycling program
pursuant to Ordinance No. 10-2009; and,
WHEREAS, the City must recover through charges and rates charged to the
customers of the system; and
WHEREAS, Ordinance No. 16-2024 establishing Residential Sanitation Services
charges and rates ordains that, Beginning on January 1, 2026, and
on January 1st of each following year, at the written request of the
Contractor, with at least forty-five ( 45) days' notice; the monthly
rate charged for each Residential Unit may be adjusted based on
increased percentage calculated by using the U.S. Consumer Price
Index for Water, Sewer, and Trash Collection Services ( CPI-WST)
as published by the Federal Reserve Bank of St. Louis increase for
the previous twelve ( 12) month period; provided that the rate
adjustment shall not exceed four percent (4%).
WHEREAS, The Residential Sanitation Contractor has demonstrated that the
CPI-WST increase for the previous twelve (12) month period at the
time of calculation is 4.76% and has requested a 4.0% increase to the
current Monthly Rates for Residential Sanitation Collection rate and
Extra Cart charges.
WHEREAS, the City of Van Buren Municipal Utilities Commission, after a
necessary and complete review has adjusted the charges and rates
established by Ordinance 16-2024 by 4.00%.
NOW THEREFORE, be it resolved that the City of Van Buren Municipal
Utilities Commission approves the adjusted charges and rates as
listed in “Exhibit A” for users of the City of Van Buren Residential
Sanitation Collection Services for services billed on or after
January 1, 2027.
PASSED AND APPROVED THIS

day of

_______________________________
Todd Young, Chairman

Attest:

, 2026.
Kathy Geppert, Secretary

Page 93 of 185

CITY OF VAN BUREN MUNICIPAL UTILITIES COMMISSION
RESOLUTION 10-1-2026

Exhibit A

UPDATED PER ORDINANCE 16-2024
City of Van Buren Residential Sanitation Collection Services Charges and Rates
for services billed on or after January 1, 2027
Residential Unit Residential Sanitation Collection rate per month
PAID TO CONTRACTOR
Extra Residential Solid Waste Container charge per month
PAID TO CONTRACTOR
Extra Residential Recycling Container charge per month
PAID TO CONTRACTOR

$14.52
$7.28
$7.28

Residential Unit Residential Sanitation Collection rate per month
$18.50
Extra Residential Solid Waste Container charge per month
$7.28
Extra Residential Recycling Container charge per month
$7.28
Bulk Waste Item Collection Charges (as described in the Residential Sanitation Agreement)
Furniture Large:
Per item per collection
$50.00
Furniture Small:
Per item per collection
$25.00
Bed:
Per item per collection
$40.00
Fixtures:
Per item per collection
$10.00
Appliances:
Per item per collection
$50.00
Toys:
Per item per collection
$10.00
Lawn mowers:
Per item per collection
$15.00
BBQ Grills:
Per item per collection
$25.00
Flooring:
Per item per collection
$50.00
Special:
Total cost agreed upon by the customer and Contractor
Beginning on January 1, 2026, and on January 1st of each following year, at the written request
of the Contractor, with at least forty-five (45) days’ notice; the monthly rate charged for each
Residential Unit may be adjusted based on increased percentage calculated by using the U.S.
Consumer Price Index for Water, Sewer, and Trash Collection Services (CPI-WST) as
published by the Federal Reserve Bank of St. Louis increase for the previous twelve (12) month
period; provided that the rate adjustment shall not exceed four percent (4%).

Page 94 of 185

October 1st, 2026
Attn: Steve Dufresne
VMBU
2806 Bryan, Rd
Van Buren, AR 72956
Dear Steve Dufresne:
Pursuant to the Sanitation Services Contract between Ecowaste Solutions and the City of Van Buren for
residential disposal services, Ecowaste Solutions is notifying you of a rate increase. Per (pg. 8) (Section
4.04) of our contract, Ecowaste Solutions is entitled to an increase beginning January 1st, 2027. Ecowaste
Solutions is proud to continue to provide you with the most professional, reliable, and affordable services
available. It is our goal to ensure that we handle the transportation and disposal of your waste safely and
in accordance with federal, state, and local regulations.
We strive to control our costs to provide you with a competitive rate. As you are aware, business
operating costs, regardless of the industry, have continued to increase over the past few years. This
is true for Ecowaste Solutions as well, despite our efforts to reduce such costs. In our continuing
effort to provide you with the best possible service.
Enclosed with this letter is documentation from the Federal Reserve Bank of St. Louis, reflecting the
4.8% fluctuation.
The annual rate adjustment is based on CPI-U for garbage and trash, not to exceed 4% annually Per (pg. 8)
(Section 4.04 of our contract. The published CPI-U is 4.8%, resulting in a 4% rate adjustment effective
January 1st, 2027.
Ecowaste Solutions appreciates the partnership we have formed with the residents/City of Van
Buren, and we pride ourselves on providing excellent service to the citizens of City of Van Buren.
Ecowaste Solutions is committed to the safety of our employees, customers, and the communities
we serve and does everything possible to keep everyone safe, while being efficient and cost
effective. If you have any questions, please do not hesitate to contact me.
Sincerely,

Kody Yandell
Regional Municipal Manager
479-973-9295
[email protected]

Page 95 of 185

JPs discuss benefits of water
plant
County doesn’t have funds for new facility, judge says
•

River Valley Democrat-Gazette

•

24 Sep 2026

•

SHANE MONACO

(River Valley Democrat-Gazette/Shane Monaco)Crawford County
Judge Chris Keith (left) and Justice of the Peace Mark Shaffer take part in the Crawford County
Quorum Court meeting Monday. Visit rivervalleydemocratgazette.com/rvphotos for today’s photo
gallery.

VAN BUREN — The possibility of a water treatment plant owned and operated
by Crawford County was once again up for discussion at Monday’s Quorum
Court study session.
The justices of the peace discussed the hurdles and benefits of building the
county’s own water treatment plant, a project the county has considered many
times over the past few decades. The Quorum Court’s regular study session was
held prior to its meeting Monday.
Justice of the Peace Morgan Morgan asked if the county could start looking into
an alternative water source to Fort Smith.
“We, as citizens, are going to end up having to pay for the failures of another
utility, and if we could have our own, with our own price structure and our own
people running it, that would be better and more beneficial for our county,”
Morgan said.
County Judge Chris Keith said the county has been exploring alternate water
sources for about 70 years, but one of the biggest hurdles has been the expense
of building a water treatment plant.
Keith said the county, by itself, doesn’t have the money to build a water
treatment plant even with the existing grants it could seek.

Page 96 of 185

The grants the county could pursue have a need-based requirement for the
entities wanting funding, and Crawford County doesn’t yet have the required
need, Keith said.
“We know it is coming, but we don’t have it yet, and that is a big sticker on the
grants,” Keith said.
Morgan said the need of Crawford County residents should be easy to show
because county residents are being charged more for less service.
The goal of the new water treatment plant would be to have Crawford County
become independent of Fort Smith’s water services for the sake of the county’s
residents, Morgan said.
“The biggest thing is for the citizenry and being at the behest of Fort Smith
utilities who cannot even find their way out of a cardboard box and who tends
to charge us more and more for less and less,” Morgan said.
Justice of the Peace Kevin Arnold said the county has several economic impact
studies from the impact of the county’s new port and questioned if those could
be used as proof of a need.
The port he was referencing is a new slackwater harbor on the Arkansas River,
which is expected to cost about $18 million and be completed in the spring or
summer of 2027.
Keith said most of the grants the county could pursue only look at an area’s
current need, and not the expected growth over the next few years.
Chris Morris, Highway 71 Water District No. 1 board vice president, said it was
likely that a new water treatment plant would cost about $250 million to
construct.
Morris said he thought it would be a good idea for the county to regionalize its
water services, merging the several local contract water users into a single
entity for a combined bargaining power.
Morgan agreed with Morris and said Fort Smith is passing down all the
expenses and charges it is dealing with, such as issues with the Environmental
Protection Agency, to customers.
Fort Smith entered into a consent decree with the Justice Department, the EPA
and the Arkansas Division of Environmental Quality in 2015. The city agreed to
repair and upgrade its sewer system after decades of sewage runoff into local
waterways, including the Arkansas River. The city agreed to spend more than
$200 million over 12 years to upgrade its sewer collection and treatment. The
original decree deadline was Jan. 2, 2027. In July 2026, the city was granted an
extension until June 30, 2038. The EPA requires Fort Smith to annually submit
an up-to-date financial management plan for consent decree work.
While having its own water treatment plan might be desired by Crawford
County, it would need a lot of local buyin, Morris said.
“The only way that is remotely affordable is probably if Van Buren and Alma
also participate,” Morris said. If a water treatment plant was constructed in

Page 97 of 185

Crawford County, it could work to sell water to surrounding areas as well,
Morris said.
Keith said one of the areas that may need this water in coming years would be
North- west Arkansas.
Morris said if Crawford County wanted to capitalize on the need to the north, it
needed to start soon since a water treatment plant would take between five and
seven years to complete.
“It is a conversation that has been had and we will continue to have,” Keith
said. “I know it is going to be very much a need for our community and our
county.”

Page 98 of 185

City of Van Buren Municipal Utilities Director of Utilities Memorandum

To:
From:
Date:
Subject:

City of Van Buren Municpal Utilities Commission
Mayor Joseph Hurst
Steve Dufresne, Director of Utilities
4/21/2026 updated 9/28/2026
Van Buren – Fort Smith Water Supply and Purchase Agreement
History and Information

Van Buren - Fort Smith Water Supply and Purchase Agreements and Contracts
1936-1969: Van Buren and Fort Smith entered into Agreements for Fort Smith to furnish and sell
water to Van Buren, to supplement water from Van Buren’s Lee Creek Facility, at rates set by Fort
Smith, with no volume restrictions, except for restrictions imposed on all water users during drought
conditions. After 1969 the majority of Van Buren’s water was purchased from Fort Smith and Van
Buren’s Impoundment and Treatment Facility was used to supplement water purchased from Fort
Smith until it was taken out of service in the 1980’s as part of the 1983 Agreement with Fort Smith.
Van Buren’s Water Treatment Facility was demolished in 1992-1993.
1936-1938:
First Van Buren/Fort Smith Water Purchase Agreement
(effective August 1, 1936). Van Buren had been purchasing water from Fort Smith for “some time”
prior to the Agreement date to supplement water produced at Van Buren's Lee Creek Water
Impoundment and Treatment Facility.
1939-1949:
No Agreement located - possibly continuance of previous Agreement
1950-1953:
Agreement to furnish and sell water
1954-1955:
No Agreement located - possibly continuance of previous Agreement
1956-1959:
Agreement to furnish and sell water. Fort Smith can disconnect service if Van Buren
causes hazardous condition.
1960-1980:
Agreement to furnish and sell water. Fort Smith can disconnect service if Van Buren
causes hazardous condition
1967: Van Buren agrees to transfer funds received from US Corp of Engineers to Fort Smith in lieu of
construction for Fort Smith water treatment/transmission facilities, Van Buren to maintain its present
water treatment facilities for emergency use.
1969 (November 1969) - “until such time as Pine Mountain Dam, or any additional source of water
supply not presently in use in the Fort Smith or Van Buren water supply system is completed.”:
Terminates the 1960 Agreement - Van Buren's Treatment Facility was to be temporarily taken out of
service by Corps of Engineers for repairs to the Dam due to flooding. Van Buren agrees to provide Fort
Smith with right and option to use Van Buren's Dam as a Diversion Dam for Fort Smith potential Pine
Mountain Dam Project in exchange for set water rates through 1972 and future water supply from Fort
Smith's Pine Mountain Dam.

Van Buren – Fort Smith Water Supply and Purchase Agreement History and Information

Page 99 of 185

City of Van Buren Municipal Utilities Director of Utilities Memorandum
1975-1977: Agreement to furnish and sell water with volume restrictions -Van Buren limited to 4.2
Million Gallons per Day (MGD) of water. Fort Smith and Van Buren were experiencing water shortages
and in the process of cooperatively studying additional sources of supply and long-term solutions
including a potential regional Water Impoundment and Treatment Facility to be jointly owned by Fort
Smith, Van Buren, and the U.S. Department of the Army (Sunbelt Regional Water District).
1978-1982:
No Agreement located - possibly continuance of previous Agreement
1983-2001: Cooperative Water Supply Agreement referred to as the "1983 Agreement"
The provisions of the parties’ Agreement set forth herein reflect the full and complete agreement of the
parties. All discussions, representations and warranties made by either of the parties to the other
during negotiations leading up to this Agreement are hereby merged into this Agreement. The
provisions of this Agreement may not be altered by the parties except by written addition hereto
approved by the governing bodies of the parties.
The desire of the 1983 Agreement was for Van Buren and Fort Smith to set forth a cooperative
arrangement whereby the Fort Smith Lee Creek Impoundment and Treatment Facility would be
constructed and operated for the mutual benefit of the citizens and inhabitants of Fort Smith, Van
Buren, and surrounding areas. The parties agreed and recognized that area needs call for a long-term
approach to water management. Van Buren contributed approximately 170 acres of property and
flowage easements as well as joint use easements for water transmission lines through Van Buren to
Fort Smith to facilitate the development of the Lee Creek Impoundment and Treatment Facility,
including the area where Van Buren's Water Impoundment had been located since 1893. The parties
agreed that Van Buren shall be treated as an ordinary, customary user of the Fort Smith Water System
and shall not be treated as a "surplus user", and that, To the extent that Fort Smith water system is able
to supply water to its ordinary, customary users (its own citizens and users located within its corporate
limits and Van Buren - with there being no distinction between the same) Van Buren will be supplied
water in a quantity sufficient to meet its present and all future customer needs. The parties also agreed
on rate setting procedures for water supplied to Van Buren.
2002-2021: 2001 Settlement and Release Agreement, Addendum to the 1983 Agreement, and
related Supplements and Addendums. The Settlement and Release Agreement was the result of a rate
dispute and legal claim filed by Van Buren in 2001 and included agreements regarding: dismissing the
lawsuit, setting agreed upon Arbitration procedures, reconciling rates Van Buren paid for water 19992001, setting rates Van Buren to pay for water 2002-2003, setting Rate Study and True-up
requirements and methods for 2004-2021, ratifying and readopting the terms of the 1983 Agreement,
and setting a 4.8 MGD minimum purchase requirement for Van Buren 2004-2021. 2004-2021: "Trueup" Rate Study Models prepared by Fort Smith (consultant) in accordance with the Settlement and
Release Agreement. Van Buren paid, or Fort Smith credited, differences of Actual billed vs. True-up
Rate Model Allocated results.
2022 - Present:
The 2001 Settlement and Release Agreement, Addendum to the 1983
Agreement, and related Supplements and Addendums period ended December 31, 2021: Water supply
and rate setting procedures reverted back to the 1983 Agreement.

Van Buren – Fort Smith Water Supply and Purchase Agreement History and Information

Page 100 of 185

City of Van Buren Municipal Utilities Director of Utilities Memorandum
Misconception that Van Buren does not pay an equitable or fair share
for water purchased from Fort Smith:
1.
The rate per CCF charged to Van Buren by Fort Smith may be adjusted by an AWWA approved
method cost of service analysis (Rate Study) performed by a Professional Engineering Firm mutually
acceptable to both parties, limited to the costs of Impoundment, Treatment, and Transmission, and
associated operations, maintenance, and improvements, of water delivered to Van Buren's eight (8)
Master Meters resulting in Van Buren paying a fair and equitable rate for water. No special
assessments, surcharges, meter charges, etc., should be applied to Van Buren, unless such charges are
to be used for water impoundment, transmission and/or treatment purposes and also applied to all
Fort Smith’s customers. The rate charged to Van Buren should not include costs associated with
delivering water south of the Arkansas River or Fort Smith's Water Distribution and Metering System.
2.
Fort Smith is not required to sell water to Van Buren at a rate which produces revenues
less than Fort Smith's actual cost of producing the water so sold to Van Buren as identified by an
AWWA approved method cost of service analysis (Rate Study) performed by a Professional Engineering
Firm mutually acceptable to both parties.
3.
A Comprehensive Water Rate Study will include a calculated water rate per CCF result for each
Fort Smith Water user class: Residential, Commercial, Industrial, Wholesale, etc.
As Fort Smith is currently exempt from the Oversight of Retail Water Providers Act- Arkansas
Code 14-234-801 through 807, by 14-234-807(5): Fort Smith may elect to defer implementation of
calculated rates for user classes other than Van Buren and adjust only the Wholesale Water Rate
charged to Van Buren (with the exception that Van Buren’s rate should not be adjusted in a method
that subsidizes the rate charged to any other user class). This method would likely not be
recommended because, although it would result in Van Buren paying the actual cost of its water
purchased; other user classes would not be billed for the actual cost of water used, resulting in Fort
Smith not meeting the overall Revenue Requirement, Debt Coverage, and Cost of Service as set by the
Rate Study.
Fort Smith water user rates should not subsidize Van Buren water purchase rate.
Van Buren water purchase rate should not subsidize Fort Smith water user rates.
4.
2004-2021*: True-up Rate Models prepared by Fort Smith (consultant) in accordance
with the Settlement and Release Agreement resulted in Van Buren paying the actual cost of
Impoundment, Treatment, and Transmission, and associated operations, maintenance, and
improvements, of water delivered to Van Buren's Master Meters regardless of rates charged by Fort
Smith (Van Buren paid, or Fort Smith credited, differences of Actual billed vs. True-up Rate Model
Allocated results). No other Fort Smith Water user class, including other Wholesale users, were
charged additional costs or credited additional charges allocated by the True-up results. Fort Smith did
not increase water rates for any user class between 2011-2024.
2015-2021 True-up calculations included Van Buren paying for a minimum of 4.8 MGD of water
(Settlement and Release Agreement), Van Buren used an average of 4.5 MGD of water during the same
period = Van Buren paid for approximately 766 Million Gallons of water above its actual usage.

Van Buren – Fort Smith Water Supply and Purchase Agreement History and Information

Page 101 of 185

City of Van Buren Municipal Utilities Director of Utilities Memorandum
5.
With the Fort Smith 2024 Rate Study Wholesale Rate of $2.52 per CCF (effective August 2024)
including a Peaking Factor (2%**) greater than Van Buren's actual Peaking Factor (1.46%) and a 2%
Rate of Return Factor Surcharge for Wholesale water users: Van Buren is currently paying a fair and
equitable rate equal to or greater than its share of the cost of Impoundment, Treatment, and
Transmission, and associated operations, maintenance, and improvements, of Fort Smith Water
delivered to Van Buren Master Meters.
*2004-2021 Fort Smith True-up Rate Study Model
Revenue Requirement: Cash Basis = O&M costs with 1.46% Peaking Factor, Debt Service, Revenue
Financed Capital Improvements
**2024 Fort Smith Rate Study Model
Revenue Requirement: Utility Basis = O&M costs with 2.00% Peaking Factor (verbal from rate
presentation) , Depreciation, 2% Rate of Return Factor Surcharge for Wholesale users
Misconception that Van Buren residents pay less for water than Fort Smith residents:
1.
Water:
The average Van Buren residential water user (4,000 gallons/5.35 ccf) currently
pays around 74% more than a Fort Smith residential water user:
Van Buren: $40.10 Fort Smith: $23.04 (Sales Tax not included)
2.
Sewer:
The average Van Buren residential sewer user (4,000 gallons/5.35 ccf) currently
pays around 40% less than a Fort Smith residential sewer user:
Van Buren: $32.07 Fort Smith: $53.22
3.
Municipal Utility Services:
The average Van Buren residential municipal utility user (4,000
gallons/5.35 ccf) currently pays 2% less than a Fort Smith residential municipal utility user for water,
sewer, and weekly residential sanitation services:
Van Buren: $90.51 ($2.98/day)
Fort Smith: $92.55( $3.04/day)
(Sales Tax not included)
AVERAGE RESIDENTIAL MUNICIPAL UTILITY BILL @ 4,000 GALLONS
(SALES TAX NOT INCLUDED)
Fort Smith
WATER
$17.04
WATER BASE
$6.00
SDWF
$0.40
SEWER
$48.40
SEWER BASE
$4.82
SANITATION
$15.89
TOTAL
$92.55

Van Buren
$31.64
$8.46
$0.40
$28.44
$3.63
$17.94
$90.51

Van Buren – Fort Smith Water Supply and Purchase Agreement History and Information

Page 102 of 185

City of Van Buren Municipal Utilities Director of Utilities Memorandum
VAN BUREN - FORT SMITH WATER PURCHASED DATA 2011-2025
ORDINANCE
TRUE-UP
VB PAID*
RATE
RESULT
VB PAID
post-true up

Fort Smith

CCF

pre-true up

& Minimum

Water Revenue

allocation

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021

$1.44
$1.44
$1.44
$1.44
$1.44
$1.44
$1.44
$1.44
$1.44
$1.44
$1.44

$1.36
$1.27
$1.44
$1.51
$1.39
$1.37
$1.41
$1.42
$1.57
$1.67
$1.59

$4,049,359
$3,935,003
$3,424,263
$3,248,372
$3,274,315
$3,285,042
$3,286,373
$3,217,085
$3,197,139
$3,320,643
$3,351,728

$3,851,591
$3,483,400
$3,414,001
$3,401,420
$3,345,426
$3,256,878
$3,399,042
$3,410,177
$3,762,198
$3,990,832
$3,819,520

$28,013,720
$27,763,735
$25,684,295
$24,225,410
$25,199,139
$25,239,685
$24,627,677
$25,285,946
$24,534,094
$24,020,777
$25,477,095

14%
13%
13%
14%
13%
13%
14%
13%
15%
17%
15%

2022

$1.44

$28,182,021

13%

2023

$1.44

$3,487,292

$26,628,995

13%

2024

$2.52

$4,619,975

$32,246,155

14%

2025

$2.52

$5,978,446

$40,249,141
VB
MAX MGD
PURCHASED
8.10
7.49
7.36
6.81
6.38
6.02
6.83
7.85
6.94
6.46
6.22
7.52
6.96
6.84
7.03

15%
VB PEAK
DEMAND
FACTOR
1.43%
1.36%
1.56%
1.49%
1.42%
1.35%
1.51%
1.73%
1.57%
1.39%
1.36%
1.51%
1.44%
1.37%
1.46%

YEAR

$3,576,822

VB
VB
AVG MGD
% of TOTAL PURCHASED
24%
5.65
24%
5.49
22%
4.72
22%
4.56
21%
4.49
21%
4.47
22%
4.53
21%
4.53
22%
4.41
23%
4.64
22%
4.59
22%
4.99
22%
4.84
22%
5.00
22%
4.83

FS
VB
YEAR
TOTAL CCF
CCF
2011
11,509,392
2,760,252
2012
11,289,861
2,672,789
2013
10,376,028
2,318,107
9,801,051
2,195,961
2014
10,308,392
2,213,977
2015
2016
10,328,015
2,201,867
2017
10,091,366
2,225,351
2018
10,351,063
2,174,234
2019
10,038,108
2,160,383
2020
9,932,243
2,246,149
2021
10,486,593
2,267,736
2022
11,150,362
2,436,271
2023
10,762,865
2,361,851
2024
11,116,833
2,441,166
2025
10,684,364
2,356,372
2011-2021 Data from True-up Rate Model
*2015-2021 True-up Model included a Van Buren minimum water purchase of 4.8 Million Gallons per Day
2022-2025 Van Buren Data from Van Buren Reports - Fort Smith Data from Fort Smith CAFR
Fort Smith 2024 Rate Study Water Revenue Requirement**:
$39,536,900 Van Buren Allocation: 15%
**(Wholesale Water Rate Study Briefing Presentation Page 11)
Fort Smith Water Rate Increase August 2024:
71%
increase in Van Buren's cost of water purchased

VB
UNACCOUNTED
14%
14%
17%
21%
19%
21%
20%
17%
17%
18%
18%
21%
19%
20%
23%

2023 to 2025
FS REV INCREASE

$13,620,146

VB EXP INCREASE
VB %

$2,491,154
18%

Van Buren – Fort Smith Water Supply and Purchase Agreement History and Information

Page 103 of 185

City of Van Buren Municipal Utilities Director of Utilities Memorandum
Arkansas Constitution
Article 12 - Municipal and Private Corporations
Section 5 - Political subdivisions not to become stockholders in or lend credit to private
corporations Universal Citation: AR Const art 12 § 5
No county, city, town or other municipal corporation, shall become a stockholder in any company,
association, or corporation; or obtain or appropriate money for, or loan its credit to, any corporation,
association, institution or individual.
Arkansas Code14-42-108. Prohibited actions by municipal officials or employees — Penalty.
(a) (1) It is unlawful for any official or employee of any municipal corporation of this state to receive or
accept any water, gas, electric current, or other article or service from the municipal corporation, or any
public utility operating therein, without paying for it at the same rate and in the same manner that the
general public in the municipal corporation pays therefor.
(2)(A) This section does not affect rights to free or other special services given to certain municipal
officials and employees under the terms of franchises in effect with public utilities in this state.
(B) This section does not apply to any city official or employee of any municipal corporation of this
state as to free streetcar transportation.
(b)(1) It is unlawful for any city official or employee of any municipal corporation in this state to
furnish or give to any person, concerns, or corporations any property belonging to the municipal
corporation, or service from any public utility owned or operated by the municipal corporation,
unless payment is made therefor to the municipal corporation at the usual and regular rates, and
in the usual manner, except as provided in subsection (a) of this section.
(2) The waterworks commission of cities of the first class may make donations of money from the
revenue of municipal waterworks systems to the local United Way campaign or other citywide
nonsectarian, incorporated charitable organizations.
(c)(1) Any person violating this section is guilty of a violation and upon conviction shall be fined in any
sum not less than ten dollars ($10.00) nor more than two hundred fifty dollars ($250).(2) Conviction
under subdivision (c)(1) of this section shall ipso facto remove the official or employee from the
municipal office or position held by him or her and shall render him or her ineligible to thereafter hold
any office or position under, or in connection with, the municipal corporation.

Van Buren – Fort Smith Water Supply and Purchase Agreement History and Information

Page 104 of 185

MONTHLY REPORT
September 2026

Page 105 of 185

VAN BUREN POLICE DEPARTMENT
Date Range: 09/01/2026 00:00 TO 09/30/2026 23:59
2026
MONTHLY
TOTAL

LAST MONTH
YEAR TO DATE

CURRENT
YEAR TO DATE

ACTIVITY
Number of Reports Taken:

341

2,313

2,654

Number of Cases Assigned to an Investigator:

119

725

844

Total Adult Arrest:

638

723

Total Juvenile Arrest:

124

136

Traffic/Criminal Tickets Issued & Warrants Issued:

167

1,611

1,778

Training Hours Attended:

91.00

3,915.00

4,006.00

Total Reserve Hours Worked:

12.00

237.00

249.00

Freedom of Information Act Requests
begin May 2026

3,406.71

29,640.48

33,047.19

Fuel Usage (gallons):

OVERTIME HOURS
Patrol:

84.00

547.50

631.50

CID / Narcotics:

24.50

268.75

293.25

Service:

0.00

9.50

SRO

13.00

51.50

64.50

Page 106 of 185

COMMUNITY RELATIONS
Community Meeting or Presentations:

Citizen Police Academy/Summer Youth Program:

Media Releases or Public Safety Announcements:

Social Media Posts:

K9 Searches & Demonstrations

SCHOOL RESOURCE AUG 2026 - MAY 2027
Student Contacts

462

Parent Contacts

Staff Contacts

327

Investigations Conducted

Police Reports

Group Presentations

Total In Attendance

956

Page 107 of 185

CITY OF VAN BUREN, ARKANSAS
ORDINANCE NO. _______-2026
BE IT ENACTED BY THE CITY COUNCIL, FOR THE CITY OF VAN BUREN,
ARKANSAS, AN ORDINANCE TO BE ENTITLED:
AN ORDINANCE AUTHORIZING THE ISSUANCE OF
SALES AND USE TAX BONDS FOR THE PURPOSE
OF FINANCING ALL OR A PORTION OF THE
COST OF CAPITAL IMPROVEMENTS; PLEDGING
SALES AND USE TAXES AGGREGATING 1% TO
PAY THE PRINCIPAL OF AND INTEREST ON THE
BONDS; PRESCRIBING OTHER MATTERS RELATING
THERETO; AND DECLARING AN EMERGENCY.
WHEREAS, there was submitted to the qualified electors of the City of Van Buren, Arkansas
(the "City") at a special election held March 3, 2026, the questions of issuing, under
Amendment No. 62 to the Constitution of the State of Arkansas (the "State") and
under Title 14, Chapter 164, Subchapter 3 of the Arkansas Code of 1987 Annotated
(the "Authorizing Legislation"), (a) capital improvement bonds in the maximum
aggregate principal amount of $36,800,000 for the purpose of financing all or a
portion of the costs of new park and recreational facilities, including particularly,
without limitation, a community center with swimming facilities, pickleball,
basketball and volleyball courts, a walking track and meeting rooms and any
furnishings, equipment and parking, landscaping, signage, drainage, lighting, street
and utility improvements related thereto (the "Park and Recreational
Improvements") and (b) capital improvement bonds in the maximum aggregate
principal amount of $8,200,000 for the purpose of financing all or a portion of the
costs of new facilities and apparatus for the fire department, including particularly,
without limitation, a fire station and any furnishings, equipment and parking,
landscaping, signage, drainage, lighting, street and utility improvements related
thereto (the "Fire Improvements"); and
WHEREAS, a majority of the electors voting on the questions approved the issuance of such
bonds; and
WHEREAS, the City Council has determined to proceed with the Park and Recreational
Improvements and the Fire Improvements (collectively, the "Improvements") and
to issue capital improvement bonds designated as "City of Van Buren, Arkansas
Sales and Use Tax Bonds, Series 2026" (the "bonds") in the aggregate principal
amount of $_________ allocated as follows: $_________ for the Park and
Recreational Improvements and $_________ for the Fire Improvements; and

Page 108 of 185

WHEREAS, the City has made arrangements for the sale of the bonds to Stephens Inc. (the
"Purchaser"), at a price of $_________ (principal amount _____ $_________ net
original issue _______ and less $_________ of underwriter's discount) (the
"Purchase Price"), pursuant to a Bond Purchase Agreement between the Purchaser
and the City (the "Purchase Agreement"), which has been presented to and is before
this meeting; and
WHEREAS, the Preliminary Official Statement, dated October 19, 2026, offering the bonds for
sale (the "Preliminary Official Statement"), has been presented to and is before this
meeting; and
WHEREAS, the Continuing Disclosure Agreement between the City and Citizens Bank & Trust
Co., Van Buren, Arkansas (the "Disclosure Agreement"), providing for the
disclosure obligations of the City with respect to the bonds, has been presented to
and is before this meeting;
NOW, THEREFORE, BE IT ORDAINED AND ENACTED BY THE CITY
COUNCIL OF THE CITY OF VAN BUREN, ARKANSAS, THAT:
Section 1.

The Improvements shall be accomplished, and the Mayor and City Clerk are hereby
authorized to take all action necessary in connection therewith and to execute all
required contracts and documents.

Section 2.

The offer of the Purchaser for the purchase of the bonds from the City at the
Purchase Price, subject to the terms and provisions hereafter in this Ordinance set
forth in detail, is hereby accepted and the Purchase Agreement, in substantially the
form submitted to this meeting, is approved and the bonds are hereby sold to the
Purchaser. The Mayor is hereby authorized and directed to execute and deliver the
Purchase Agreement on behalf of the City and to take all action required on the part
of the City to fulfill its obligations under the Purchase Agreement.

Section 3.

The Preliminary Official Statement is hereby approved and the previous use of the
Preliminary Official Statement by the Purchaser in connection with the sale of the
bonds is hereby in all respects approved and confirmed, and the Mayor is hereby
authorized and directed, for and on behalf of the City, to execute the Preliminary
Official Statement and the final Official Statement in the name of the City for use
in connection with the sale of such bonds as set forth in the Purchase Agreement.

Section 4.

Under the authority of the Constitution and laws of the State, including particularly
Amendment No. 62 to the Constitution of the State and the Authorizing Legislation,
the bonds are hereby authorized and ordered issued in the total principal amount of
$_________, the proceeds of the sale of which are necessary to provide funds for
financing all or a portion of the costs of the Improvements, funding a debt service
reserve and paying expenses incidental thereto and expenses of issuing the bonds.

Page 109 of 185

The bonds shall bear interest at the rates and shall mature on December 1 in the
amounts and in the years as follows:
Year

Principal Amount

Interest Rate

The bonds shall be issuable only as fully registered bonds without coupons in the
denomination of $5,000 or any integral multiple thereof. Unless the City shall
otherwise direct, the bonds shall be numbered from 1 upward in order of issuance.
Each bond shall have a CUSIP number but the failure of a CUSIP number to appear
on any bond shall not affect its validity.
The bonds shall be registered initially in the name of Cede & Co., as nominee for
The Depository Trust Company ("DTC"), which shall be considered to be the
registered owner of the bonds for all purposes under this Ordinance, including,
without limitation, payment by the City of principal of, redemption price, premium,
if any, and interest on the bonds, and receipt of notices and exercise of rights of
registered owners. There shall be one certificated, typewritten bond for each stated
maturity date which shall be immobilized in the custody of or on behalf of DTC
with the beneficial owners having no right to receive the bonds in the form of
physical securities or certificates. DTC and its participants shall be responsible for
maintenance of records of the ownership of beneficial interests in the bonds by
book-entry on the system maintained and operated by DTC and its participants, and
transfers of ownership of beneficial interests shall be made only by DTC and its
participants, by book-entry, the City having no responsibility therefor. DTC is
expected to maintain records of the positions of participants in the bonds, and the
participants and persons acting through participants are expected to maintain
records of the purchasers of beneficial interests in the bonds. The bonds as such
shall not be transferable or exchangeable, except for transfer to another securities
depository or to another nominee of a securities depository, without further action
by the City.
If any securities depository determines not to continue to act as a securities
depository for the bonds for use in a book-entry system, the City may establish a
securities depository/book-entry system relationship with another securities
depository. If the City does not or is unable to do so, or upon request of the
beneficial owners of all outstanding bonds, the City and the Trustee (hereinafter
identified), after the Trustee has made provision for notification of the beneficial
owners by the then securities depository, shall permit withdrawal of the bonds from
the securities depository, and authenticate and deliver bond certificates in fully
registered form (in denominations of $5,000 or integral multiples thereof) to the

Page 110 of 185

assigns of the securities depository or its nominee, all at the cost and expense
(including costs of printing definitive bonds) of the City, if the City fails to maintain
a securities depository/book-entry system, or of the beneficial owners, if they
request termination of the system.
Prior to issuance of the bonds, the City shall have executed and delivered to DTC
a written agreement (the "Representation Letter") setting forth (or incorporating
therein by reference) certain undertakings and responsibilities of the City with
respect to the bonds so long as the bonds or a portion thereof are registered in the
name of Cede & Co. (or a substitute nominee) and held by DTC. Notwithstanding
such execution and delivery of the Representation Letter, the terms thereof shall
not in any way limit the provisions of this Section or in any other way impose upon
the City any obligation whatsoever with respect to persons having interests in the
bonds other than the registered owners, as shown on the registration books kept by
the Trustee. The Trustee shall take all action necessary for all representations of
the City in the Representation Letter with respect to the Trustee to at all times be
complied with.
The authorized officers of the Trustee and the City shall do or perform such acts
and execute all such certificates, documents and other instruments as they or any of
them deem necessary or advisable to facilitate the efficient use of a securities
depository for all or any portion of the bonds; provided that neither the Trustee nor
the City may assume any obligations to such securities depository or beneficial
owners of bonds that are inconsistent with their obligations to any registered owner
under this Ordinance.
Each bond shall be dated as of its date of delivery to the Purchaser. Interest on the
bonds shall be payable on June 1, 2027 and semiannually thereafter on June 1 and
December 1 of each year. Payment of each installment of interest shall be made by
the Trustee to the person in whose name the bond is registered on the registration
books of the City maintained by Citizens Bank & Trust Co., Van Buren, Arkansas,
as Trustee and Paying Agent (the "Trustee"), at the close of business on the fifteenth
day of the month (whether or not a business day) next preceding each interest
payment date (the "Record Date"), irrespective of any transfer or exchange of any
such bond subsequent to such Record Date and prior to such interest payment date,
by check or draft to such owner at his address on such registration books. Principal
of the bonds shall be payable at the corporate trust office of the Trustee.
Each bond shall bear interest from the payment date next preceding the date on
which it is authenticated unless it is authenticated on an interest payment date, in
which event it shall bear interest from such date, or unless it is authenticated prior
to the first interest payment date, in which event it shall bear interest from its dated
date, or unless it is authenticated during the period from the Record Date to the next
interest payment date, in which case it shall bear interest from such interest payment
date, or unless at the time of authentication thereof interest is in default thereon, in
which event it shall bear interest from the date to which interest has been paid.

Page 111 of 185

Only such bonds as shall have endorsed thereon a Certificate of Authentication
substantially in the form set forth in Section 6 hereof (the "Certificate") duly
executed by the Trustee shall be entitled to any right or benefit under this
Ordinance. No bond shall be valid and obligatory for any purpose unless and until
the Certificate shall have been duly executed by the Trustee, and the Certificate of
the Trustee upon any such bond shall be conclusive evidence that such bond has
been authenticated and delivered under this Ordinance. The Certificate on any bond
shall be deemed to have been executed if signed by an authorized officer of the
Trustee, but it shall not be necessary that the same officer sign the Certificate on all
of the bonds.
In case any bond shall become mutilated or be destroyed or lost, the City shall, if
not then prohibited by law, cause to be executed and the Trustee may authenticate
and deliver a new bond of like date, maturity and tenor in exchange and substitution
for and upon cancellation of such mutilated bond, or in lieu of and in substitution
for such bond destroyed or lost, upon the owner paying the reasonable expenses
and charges of the City and Trustee in connection therewith, and, in the case of a
bond destroyed or lost, his filing with the Trustee evidence satisfactory to it that
such bond was destroyed or lost, and of his ownership thereof, and furnishing the
City and Trustee with indemnity satisfactory to them. The Trustee is hereby
authorized to authenticate any such new bond. In the event any such bond shall
have matured, instead of issuing a new bond, the City may pay the same without
the surrender thereof. Upon the issuance of a new bond under this Section, the City
may require the payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in relation thereto and any other expenses (including
the fees and expenses of the Trustee) connected therewith.
The City shall cause books to be maintained for the registration and for the transfer
of the bonds as provided herein and in the bonds. The Trustee shall act as the bond
registrar. Each bond is transferable by the registered owner thereof or by his
attorney duly authorized in writing at the principal office of the Trustee. Upon such
transfer a new fully registered bond or bonds of the same maturity, of authorized
denomination or denominations, for the same aggregate principal amount will be
issued to the transferee in exchange therefor.
Bonds may be exchanged at the principal corporate trust office of the Trustee for
an equal aggregate principal amount of bonds of any other authorized denomination
or denominations. The City shall execute and the Trustee shall authenticate and
deliver bonds which the registered owner making the exchange is entitled to
receive.
No charge shall be made to any owner of any bond for the privilege of transfer or
exchange, but any owner of any bond requesting any such transfer or exchange
shall pay any tax or other governmental charge required to be paid with respect
thereto. Except as otherwise provided in the immediately preceding sentence, the
cost of preparing each new bond upon each exchange or transfer and any other

Page 112 of 185

expenses of the City or the Trustee incurred in connection therewith shall be paid
by the City. Neither the Trustee nor the City shall be required to transfer or
exchange any bonds selected for redemption in whole or in part.
The person in whose name any bond shall be registered shall be deemed and
regarded as the absolute owner thereof for all purposes, and payment of or on
account of the principal or premium, if any, or interest on any bond shall be made
only to or upon the order of the registered owner thereof or his legal representative,
but such registration may be changed as hereinabove provided. All such payments
shall be valid and effectual to satisfy and discharge the liability upon such bond to
the extent of the sum or sums so paid.
In any case where the date of maturity of interest on or principal of the bonds or the
date fixed for redemption of any bonds shall be a Saturday or Sunday or shall be in
the State a legal holiday or a day on which banking institutions are authorized by
law to close, then payment of interest or principal need not be made on such date
but may be made on the next succeeding business day with the same force and
effect as if made on the date of maturity or the date fixed for redemption, and no
interest shall accrue for the period after the date of maturity or date fixed for
redemption.
Section 5.

The bonds shall be executed on behalf of the City by the manual or facsimile
signatures of the Mayor and City Clerk and shall have impressed or imprinted
thereon the seal of the City.

Section 6.

The bonds and the Certificate shall be in substantially the following form and the
Mayor and City Clerk are hereby expressly authorized and directed to make all
recitals contained therein:

[Remainder of page intentionally left blank]

Page 113 of 185

(Form of Bond)
REGISTERED

REGISTERED

No. ____
UNITED STATES OF AMERICA
STATE OF ARKANSAS
COUNTY OF CRAWFORD
CITY OF VAN BUREN
SALES AND USE TAX BOND
SERIES 2026
Interest Rate: _____%
Maturity Date: December 1, 20__
Dated Date: November 10, 2026
Registered Owner: Cede & Co.
Principal Amount:
____________________________________________________ Dollars
CUSIP No.: _______
KNOW ALL MEN BY THESE PRESENTS:
That the City of Van Buren, County of Crawford, State of Arkansas (the "City"),
for value received, hereby promises to pay to the Registered Owner shown above upon the
presentation and surrender hereof at the principal corporate trust office of Citizens Bank & Trust
Co., Van Buren, Arkansas, or its successor or successors, as Trustee and Paying Agent (the
"Trustee"), on the Maturity Date shown above, the Principal Amount shown above, in such coin
or currency of the United States of America as at the time of payment shall be legal tender for the
payment of public and private debts and to pay by check or draft to the Registered Owner shown
above interest thereon, in like coin or currency from the interest commencement date described
below at the Interest Rate per annum shown above, payable on June 1, 2027 and on each June 1
and December 1 thereafter, until payment of such Principal Amount or, if this bond or a portion
hereof shall be duly called for redemption, until the date fixed for redemption, and to pay interest
on overdue principal and interest (to the extent legally enforceable) at the rate borne by this bond.
Payment of each installment of interest shall be made to the person in whose name this bond is
registered on the registration books of the City maintained by the Trustee at the close of business
on the fifteenth day of the month (whether or not a business day) next preceding each interest
payment date (the "Record Date"), irrespective of any transfer or exchange of this bond subsequent
to such Record Date and prior to such interest payment date.
Unless this bond is presented by an authorized representative of The Depository
Trust Company, a New York corporation ("DTC"), to the Trustee for registration of transfer,
exchange or payment, and any certificate issued is registered in the name of Cede & Co. or in such
other name as is requested by an authorized representative of DTC (and any payment is made to
Cede & Co. or to such other entity as is required by an authorized representative of DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO

Page 114 of 185

ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an
interest herein.
This bond shall bear interest from the payment date next preceding the date on
which it is authenticated unless it is authenticated on an interest payment date, in which event it
shall bear interest from such date, or unless it is authenticated during the period from the Record
Date to the next interest payment date, in which case it shall bear interest from such interest
payment date, or unless it is authenticated prior to the first interest payment date, in which event
it shall bear interest from the Dated Date shown above, or unless at the time of authentication
hereof interest is in default hereon, in which event it shall bear interest from the date to which
interest has been paid.
This bond is one of an issue of City of Van Buren, Arkansas Sales and Use Tax
Bonds, Series 2026, aggregating _____ Million _____ Hundred _____ Thousand _____ Dollars
($_________) in principal amount (the "bonds"), and is issued for the purpose of financing all or
a portion of the costs of various capital improvements, paying necessary expenses incidental
thereto, paying expenses of authorizing and issuing the bonds and funding a debt service reserve.
The bonds are issued pursuant to and in full compliance with the Constitution and
laws of the State of Arkansas (the "State"), particularly Amendment No. 62 to the Constitution of
the State and Title 14, Chapter 164, Subchapter 3 of the Arkansas Code of 1987 Annotated (the
"Authorizing Legislation"), and pursuant to Ordinance No. _________ of the City duly adopted
on October 26, 2026 (the "Authorizing Ordinance"), and an election duly held at which the
majority of the legal voters of the City voting on the questions approved the issuance of the bonds.
Reference is hereby made to the Authorizing Ordinance for the details of the nature and extent of
the security and of the rights and obligations of the City, the Trustee and the registered owners of
the bonds. The bonds are special obligations of the City, payable from (a) a 0.5% sales and use
tax levied by the City under the authority of the Authorizing Legislation and Ordinance No. 242025 adopted on December 8, 2025 (the "Bond Tax") and (b) a 0.5% sales and use tax levied by
the City under Title 26, Chapter 75, Subchapter 2 of the Arkansas Code of 1987 Annotated and
Ordinance No. 22-2025 adopted on December 8, 2025 (the "Permanent Tax"), and the City hereby
pledges the collections of the Bond Tax and the Permanent Tax for the payment of this bond.
The bonds are subject to extraordinary, optional and mandatory sinking fund
redemption prior to maturity as follows:
(1)
The bonds shall be redeemed by the City from Surplus Bond Tax Receipts
(defined below) and from proceeds of the bonds not needed for the purposes intended, in whole at
any time or in part on any interest payment date, at a redemption price equal to the principal amount
being redeemed plus accrued interest to the redemption date, in inverse order of maturity (and by
lot within a maturity in such manner as the Trustee may determine).
In the case of any defeasance of the bonds, redemption of defeased bonds shall be
scheduled on the basis of the mandatory redemption requirements and assuming collections of the
Bond Tax in an amount equal to receipts for the most recent twelve-month period.

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(2)
The bonds are subject to redemption at the option of the City, from funds
from any source, on and after December 1, 2033, in whole or in part at any time, at a redemption
price equal to the principal amount being redeemed plus accrued interest to the redemption date.
If fewer than all of the bonds shall be called for redemption, the particular maturities to be
redeemed shall be selected by the City in its discretion. If fewer than all of the bonds of any one
maturity shall be called for redemption, the particular bonds or portion thereof to be redeemed
from such maturity shall be selected by lot by the Trustee.
(3)
To the extent not previously redeemed, the bonds maturing on December 1
in the years _______________ are subject to mandatory sinking fund redemption by lot in such
manner as the Trustee shall determine, on December 1 in the years and in the amounts set forth
below, at a redemption price equal to the principal amount being redeemed plus accrued interest
to the date of redemption:
Bonds Maturing December 1, 20__
Year

Principal Amount

Bonds Maturing December 1, 20__
Year

Principal Amount

Bonds Maturing December 1, 20__
Year

Principal Amount

Bonds Maturing December 1, 20__
Year

Principal Amount

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In case any outstanding bond is in a denomination greater than $5,000, each $5,000
of face value of such bond shall be treated as a separate bond of the denomination of $5,000.
The City has covenanted in the Authorizing Ordinance that Surplus Bond Tax
Receipts, being collections of the Bond Tax in excess of the amount necessary to (a) ensure the
prompt payment of the principal of, interest on and Trustee's fees and expenses and other
administrative charges in connection with the bonds as the same become due, (b) maintain the debt
service reserve in the required amount and (c) pay any arbitrage rebate due under Section 148(f)
of the Internal Revenue Code of 1986, as amended, must be used from time to time on each interest
payment date, as and to the extent available to redeem outstanding bonds prior to maturity. The
debt service reserve shall be used as part of the Surplus Bond Tax Receipts for the purpose of
making the final principal and interest payment on the bonds, whether at maturity or at redemption
prior to maturity.
Notice of redemption identifying the bonds or portions thereof (which shall be
$5,000 or a multiple thereof) to be redeemed and the date they shall be presented for payment shall
be given by the Trustee, not less than 30 nor more than 60 days prior to the date fixed for
redemption, by sending a copy of the redemption notice by first class mail, postage prepaid, or
other acceptable standard means of delivery, including facsimile or electronic communication, to
all registered owners of bonds to be redeemed. Failure to send an appropriate notice or any such
notice to one or more registered owners of bonds to be redeemed shall not affect the validity of the
proceedings for redemption of other bonds as to which notice of redemption is duly given in proper
and timely fashion. All such bonds or portions thereof thus called for redemption and for the
retirement of which funds are duly provided in accordance with the Authorizing Ordinance prior
to the date fixed for redemption will cease to bear interest on such redemption date.
This bond is transferable by the Registered Owner shown above in person or by his
attorney-in-fact duly authorized in writing at the principal corporate trust office of the Trustee, but
only in the manner, subject to the limitations and upon payment of the charges provided in the
Authorizing Ordinance, and upon surrender and cancellation of this bond. Upon such transfer a
new fully registered bond or bonds of the same maturity, of authorized denomination or
denominations, for the same aggregate principal amount, will be issued to the transferee in
exchange therefor. This bond is issued with the intent that the laws of the State shall govern its
construction.
The City and the Trustee may deem and treat the Registered Owner shown above
as the absolute owner hereof for the purpose of receiving payment of or on account of principal
hereof and interest due hereon and for all other purposes, and neither the City nor the Trustee shall
be affected by any notice to the contrary.
The bonds are issuable only as fully registered bonds in the denomination of $5,000,
and any integral multiple thereof. Subject to the limitations and upon payment of the charges
provided in the Authorizing Ordinance, fully registered bonds may be exchanged for a like
aggregate principal amount of fully registered bonds of the same maturity of other authorized
denominations.

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This bond shall not be valid until it shall have been authenticated by the Certificate
hereon duly signed by the Trustee.
IT IS HEREBY CERTIFIED, RECITED AND DECLARED that all acts,
conditions and things required to exist, happen and be performed, under the Constitution and laws
of the State, particularly Amendment No. 62 to the Constitution of the State and the Authorizing
Legislation, precedent to and in the issuance of this bond have existed, have happened and have
been performed in due time, form and manner as required by law; that the indebtedness represented
by this bond and the issue of which it forms a part does not exceed any constitutional or statutory
limitation; and that taxes sufficient to pay the bonds and interest thereon have been duly levied in
accordance with the Authorizing Legislation and made payable until all of the bonds and interest
thereon have been fully paid and discharged.
IN WITNESS WHEREOF, the City of Van Buren, Arkansas has caused this bond
to be executed by its Mayor and City Clerk and its corporate seal to be impressed or imprinted on
this bond, all as of the Dated Date shown above.
CITY OF VAN BUREN, ARKANSAS:
____________________________________
Mayor

ATTEST:
____________________________________
City Clerk
(SEAL)

(Form of Trustee's Certificate)
TRUSTEE'S CERTIFICATE OF AUTHENTICATION
This bond is one of the bonds issued under the provisions of the within mentioned
Authorizing Ordinance.
Date of Authentication: ______________, 2026
CITIZENS BANK & TRUST CO.
Van Buren, Arkansas
TRUSTEE
By _________________________________
Authorized Signature

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(Form of Assignment)
ASSIGNMENT
FOR VALUE RECEIVED, ________________ ("Transferor"), hereby sells,
assigns and transfers unto ______________, the within bond and all rights thereunder, and hereby
irrevocably constitutes and appoints ______________ as attorney to transfer the within bond on
the books kept for registration thereof with full power of substitution in the premises.
DATE: ___________________
____________________________________
Transferor
GUARANTEED BY:
_______________________
NOTICE: Signature(s) must be guaranteed by a member of or participant in the Securities Transfer
Agents Medallion Program (STAMP), or in another signature guaranty program recognized by the
Trustee.
Section 7.

The City hereby expressly pledges all of the revenues derived by the City from (a)
a 0.5% sales and use tax levied by the City under the authority of the Authorizing
Legislation and Ordinance No. 24-2025 adopted on December 8, 2025 (the "Bond
Tax") and (b) a 0.5% sales and use tax levied by the City under Title 26, Chapter
75, Subchapter 2 of the Arkansas Code of 1987 Annotated and Ordinance No. 222025 adopted on December 8, 2025 (the "Permanent Tax") to the payment of the
principal of and interest on the bonds when due at maturity or at redemption prior
to maturity, to the payment of any arbitrage rebate due under Section 148(f) of the
Internal Revenue Code of 1986, as amended (the "Code"), the fees and expenses of
the Trustee and other administrative charges and to the maintenance of the debt
service reserve at its required level. Collections of the Bond Tax are hereby
appropriated and shall be used solely to pay the scheduled principal of and interest
on the bonds, redeem bonds prior to maturity, pay arbitrage rebate due under
Section 148(f) of the Code, pay Trustee's fees and expenses and other
administrative charges and maintain the debt service reserve at its required level
(collectively, "Bond Payments"). Collections of the Permanent Tax shall be used
first, if necessary, to make Bond Payments and second, for park and recreational
purposes and for fire, police and other emergency services purposes (collectively,
the "Permanent Tax Uses"). The City covenants that the Bond Tax and the
Permanent Tax (collectively, the "Taxes") shall never be repealed or reduced while
any of the bonds are outstanding. The City further covenants to use due diligence
in collecting the Taxes. Nothing herein shall prohibit the City from increasing the
Taxes from time to time, to the extent permitted by law, and no part of the revenues
derived from any such increase shall become part of the revenues pledged
hereunder.

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Section 8.

(a) The City hereby designates Citizens Bank & Trust Co., Van Buren, Arkansas
as the bank which shall receive collections of the Taxes (the "Pledged Revenues")
from the State Treasurer, and the City covenants to file a written designation thereof
with the State Treasurer prior to the issuance of the bonds. The Trustee shall deposit
all Pledged Revenues as and when received into a special fund of the City in the
Trustee which is hereby created and designated "Sales and Use Tax Revenue Fund,
Series 2026" (the "Revenue Fund"). There is created in the Revenue Fund the
following accounts: Bond Account; and Permanent Account. The Pledged
Revenues received by the Trustee shall be deposited as follows: Pledged Revenues
derived from the Bond Tax shall be deposited into the Bond Account and Pledged
Revenues derived from the Permanent Tax shall be deposited into the Permanent
Account.
(b)
Moneys in the Bond Account in the Revenue Fund shall be applied first
each month, in the following order of priority:
(1)

1/6 of the interest on the bonds next due – Debt Service Account in
the Bond Fund (hereinafter identified); and

(2)

1/12 of the principal of the bonds next due at maturity or upon
mandatory sinking fund redemption – Debt Service Account in the
Bond Fund; and

(3)

the Trustee's fees and expenses and other administrative charges
next due – Expense Account in the Bond Fund; and

(4)

the amount which may be necessary to increase the Debt Service
Reserve Account to the required level – Debt Service Reserve
Account in the Bond Fund; and

(5)

the amount necessary to pay any arbitrage rebate due under Section
148(f) of the Code – Expense Account in the Bond Fund; and

(6)

balance – Redemption Account in the Bond Fund.

The deposits made into the Debt Service Account in the Bond Fund shall be reduced
in order to take into account as a credit (a) interest earnings and (b) transfers from
the Debt Service Reserve Account in the Bond Fund. Monthly deposits into the
Debt Service Account in the Bond Fund shall be adjusted as necessary so that there
are sufficient funds to make the payments due on the bonds through December 1,
2027.
(c)
Moneys in the Permanent Account in the Revenue Fund shall be applied by
the Trustee within five (5) days of receipt by the Trustee in the following order of
priority:

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Section 9.

(1)

in the event moneys in the Bond Account are insufficient to make
the deposits required by clauses (1) through (5) of (b) above, moneys
in the Permanent Account shall be used for such purpose in the order
of priority listed above; and

(2)

the balance shall be transferred to the City for Permanent Tax Uses.

(a) There is hereby created a special fund of the City in the Trustee which is
designated "Sales and Use Tax Bond Fund, Series 2026" (the "Bond Fund"), for the
purpose of providing funds for the payment of principal of and interest on the bonds
as they become due at maturity or at redemption prior to maturity, the Trustee's fees
and expenses and other administrative charges and any arbitrage rebate due under
Section 148(f) of the Code. There shall be established in the Bond Fund the
following accounts into which moneys shall be deposited: (i) Debt Service
Account; (ii) Redemption Account; and (iii) Expense Account. Moneys in the
following Bond Fund accounts shall be used on each interest payment date (or in
the case of an arbitrage rebate payment under clause (4), on any date due) in the
following order of priority as and when necessary:
(1)

to pay the Trustee's fees and expenses and other administrative
charges then due - Expense Account; and

(2)

to pay the interest on the bonds then due - Debt Service Account;
and

(3)

to pay the principal of the bonds then due at maturity or upon
mandatory sinking fund redemption - Debt Service Account; and

(4)

to pay any arbitrage rebate due under Section 148(f) of the Code Expense Account; and

(5)

to redeem bonds prior to maturity - Redemption Account.

There shall be established and maintained in the Bond Fund a Debt Service Reserve
Account in an amount equal to one-half of the maximum annual debt service
requirement on the bonds (the "required level"). Moneys in the Debt Service
Reserve Account shall be used to make the payments described in clauses (2) and
(3) of (a) above if moneys in the Debt Service Account in the Bond Fund are not
otherwise sufficient for that purpose. Moneys in the Debt Service Reserve Account
over and above the required level shall be immediately transferred from the Debt
Service Reserve Account into the Debt Service Account in the Bond Fund. Moneys
in the Debt Service Reserve Account shall be used to make the final payment of
principal of and interest on the bonds, whether at maturity or at redemption prior to
maturity.

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The Bond Fund (excluding those moneys in the Debt Service Reserve Account)
shall, except as provided in this Section, be depleted once a year except for a
carryover amount not to exceed the greater of (i) one year's earnings on the Bond
Fund or (ii) 1/12 of the annual debt service on the bonds. Any moneys in the Bond
Fund shall, except as provided in this Section, be spent for one of the above
purposes within a thirteen-month period beginning on the date of deposit, and any
amount received from investment of money held in the Bond Fund will be spent
within a one-year period beginning on the date of receipt.
(b)
When the moneys in the Bond Fund shall be and remain sufficient to pay
(1) the principal of all the bonds then outstanding, (2) interest on the bonds until
the next interest payment date, (3) the Trustee's fees and expenses and other
administrative charges and (4) all arbitrage rebate payments due under Section
148(f) of the Code, there shall be no obligation to make any further payments into
the Bond Fund and any Pledged Revenues remaining in the Bond Fund after the
payment of any arbitrage rebate due and after the principal of, premium, if any and
interest on the bonds have been paid may be used by the City for any lawful
purpose.
(c)
All moneys in the Bond Fund shall be used solely for the purpose of paying
the principal of and interest on the bonds, Trustee's fees and expenses and other
administrative charges and any arbitrage rebate due under Section 148(f) of the
Code, as the same become due.
(d)
The Trustee is authorized and directed to withdraw moneys from the Bond
Fund from time to time as necessary for paying principal of and interest on the
bonds when due at maturity or at redemption prior to maturity and for making other
authorized Bond Fund expenditures.
(e)
The bonds shall be specifically secured by a pledge of the Pledged
Revenues, which pledge in favor of the bonds is hereby irrevocably made according
to the terms of this Ordinance, and the City, and the officers and employees of the
City, shall execute, perform and carry out the terms thereof in strict conformity with
the provisions of this Ordinance.
(f)
Anything herein to the contrary notwithstanding, moneys in the Redemption
Account derived from deposits made pursuant to clause (6) of Section 8(b) hereof
and interest earnings thereon (1) shall be used from time to time to make up
shortfalls in the Debt Service Account or shortfalls in collections of the Bond Tax,
rather than redeeming bonds prior to maturity, and (2) shall not be used to redeem
bonds more often than annually (rather than on each interest payment date) if the
Trustee reasonably determines that such amounts available for redemption may be
needed to make scheduled debt service payments.

Page 122 of 185

Section 10.

Any bond shall be deemed to be paid within the meaning of this Ordinance when
payment of the principal of and interest on such bond (whether at maturity or upon
redemption as provided herein, or otherwise), either (i) shall have been made or
caused to be made in accordance with the terms thereof, or (ii) shall have been
provided for by irrevocably depositing with the Trustee, in trust and irrevocably set
aside exclusively for such payment (1) cash fully insured by the Federal Deposit
Insurance Corporation ("FDIC") and/or fully collateralized with direct obligations
of the United States of America ("Defeasance Securities") sufficient to make such
payment and/or (2) Defeasance Securities (provided that such deposit will not cause
any of the bonds to be classified as "arbitrage bonds" within the meaning of Section
148 of the Internal Revenue Code of 1986, as amended (the "Code")) maturing as
to principal and interest in such amounts and at such times as will provide sufficient
moneys to make such payment, and all necessary and proper fees, compensation
and expenses of the Trustee with respect to which such deposit is made shall have
been paid or the payment thereof provided for to the satisfaction of the Trustee.
In case of any defeasance of the bonds, redemption of defeased bonds shall be
scheduled on the basis of the mandatory redemption requirements and assuming
annual collections of the Bond Tax in an amount equal to receipts for the most
recent twelve-month period.
On the payment of any bonds within the meaning of this Ordinance, the Trustee
shall hold in trust, for the benefit of the owners of such bonds, all such moneys
and/or Defeasance Securities.
When all the bonds shall have been paid within the meaning of this Ordinance, if
the Trustee has been paid its fees and expenses and if all arbitrage rebate payments
have been paid or provided for to the satisfaction of the Trustee, the Trustee shall
take all appropriate action to cause (i) the pledge and lien of this Ordinance to be
discharged and cancelled and (ii) all moneys held by it pursuant to this Ordinance
and which are not required for the payment of such bonds to be paid over or
delivered to or at the direction of the City.

Section 11.

The City covenants that it will not issue any additional bonds, or incur any
additional obligation, secured by a lien on or pledge of the Pledged Revenues
except as hereinafter provided. The City reserves the right to issue additional bonds
secured by a lien on or pledge of the receipts of the Permanent Tax on a subordinate
basis to the pledge securing the bonds.

Section 12.

The bonds shall be callable for payment prior to maturity in accordance with the
terms set out in the face of the bond form set forth in Section 6 of this Ordinance
(the "Bond Form"). The City hereby covenants to use bond proceeds not necessary
for the purposes intended to redeem bonds as set forth in the Bond Form. The City
further covenants to use Surplus Bond Tax Receipts (as defined in the Bond Form)
to redeem bonds prior to maturity.

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Section 13.

It is hereby covenanted and agreed by the City with the owners of the bonds that
the City will faithfully and punctually perform all duties with reference to the Taxes
and the bonds required by the Constitution and laws of the State and by this
Ordinance, including the collection of the Taxes, as herein specified and
covenanted and the applying of the Pledged Revenues as herein provided.

Section 14.

The Trustee will keep or cause to be kept proper books of accounts and records in
which complete and correct entries shall be made of all transactions relating to the
Pledged Revenues and such books shall be available for inspection by the City, the
Purchaser and the owner of any of the bonds at reasonable times and under
reasonable circumstances. The Trustee shall furnish a report to the City on a
monthly basis of all receipts and disbursements of the Pledged Revenues received
by the Trustee, which monthly report shall commence one month following the first
month in which the Pledged Revenues are received by the Trustee.

Section 15.

(a) If there be any default in the payment of the principal of and interest on any of
the bonds or if the City defaults in the performance of any covenant contained in
this Ordinance, the Trustee may, and shall, upon the written request of the owners
of not less than 10% in principal amount of the bonds then outstanding, by proper
suit compel the performance of the duties of the officials of the City and officials
of the State under the Constitution and laws of the State and under this Ordinance,
and to take any action or obtain any proper relief in law or equity available under
the Constitution and laws of the State.
(b)
No owner of any bond shall have any right to institute any suit, action,
mandamus or other proceeding in equity or in law for the protection or enforcement
of any right under this Ordinance or under the Constitution and laws of the State
unless such owner previously shall have given to the Trustee written notice of the
default on account of which such suit, action or proceeding is to be taken, and unless
the owners of not less than 10% in principal amount of the bonds then outstanding
shall have made written request of the Trustee after the right to exercise such
powers or right of action, as the case may be, shall have accrued, and shall have
afforded the Trustee a reasonable opportunity either to proceed to exercise the
powers herein granted or granted by the Constitution and laws of the State, or to
institute such action, suit or proceeding in its name, and unless, also, there shall
have been offered to the Trustee reasonable security and indemnity against the cost,
expense and liabilities to be incurred therein or thereby and the Trustee shall have
refused or neglected to comply with such request within a reasonable time, and such
notification, request and offer of indemnity are hereby declared in every such case,
at the option of the Trustee, to be conditions precedent to the execution of the
powers and trust of this Ordinance or to any other remedy hereunder. It is
understood and intended that no one or more owners of the bonds shall have any
right in any manner whatever by his or their action to affect, disturb or prejudice
the security of this Ordinance, or to enforce any right hereunder except in the
manner herein provided, that all proceedings at law or in equity shall be instituted,
had and maintained in the manner herein provided and for the benefit of all owners

Page 124 of 185

of the outstanding bonds, and that any individual rights of action or other right given
to one or more of such owners by law are restricted by this Ordinance to the rights
and remedies herein provided.
(c)
All rights of action under this Ordinance or under any of the bonds,
enforceable by the Trustee, may be enforced by it without the possession of any of
the bonds, and any such suit, action or proceeding instituted by the Trustee shall be
brought in its name and for the benefit of all the owners of the bonds, subject to the
provisions of this Ordinance.
(d)
No remedy herein conferred upon or reserved to the Trustee or to the owners
of the bonds is intended to be exclusive of any other remedy or remedies herein
provided, and each and every such remedy shall be cumulative and shall be in
addition to every other remedy given hereunder or given by any law or by the
Constitution of the State.
(e)
No delay or omission of the Trustee or of any owners of the bonds to
exercise any right or power accrued upon any default shall impair any such right or
power or shall be construed to be a waiver of any such default or an acquiescence
therein, and every power and remedy given by this Ordinance to the Trustee and to
the owners of the bonds, respectively, may be exercised from time to time and as
often as may be deemed expedient.
(f)
The Trustee may, and upon the written request of the owners of not less than
a majority of the owners in principal amount of the bonds then outstanding, shall
waive any default which shall have been remedied before the entry of final
judgment or decree in any suit, action or proceeding instituted under the provisions
of this Ordinance or before the completion of the enforcement of any other remedy,
but no such waiver shall extend to or affect any other existing or any subsequent
default or defaults or impair any rights or remedies consequent thereon.
Section 16.

When the bonds have been executed and sealed as herein provided, they shall be
delivered to the Trustee, which shall authenticate them and deliver them to or at the
direction of the Purchaser upon payment of the Purchase Price. The expenses of
issuing the bonds shall be deposited into a special account of the City established
with the Trustee and designated "Cost of Issuance Fund, Series 2026" (the "Cost of
Issuance Fund"). Any amounts in the Cost of Issuance Fund on January 15, 2027
shall be deposited into the Debt Service Account in the Bond Fund. The amount
necessary to establish the Debt Service Reserve Account at the required level shall
be deposited into the Debt Service Reserve Account in the Bond Fund.
The balance of the Purchase Price shall be deposited into two special Construction
Funds of the City established with the Trustee (each a "Construction Fund" and
collectively, the "Construction Fund").
The moneys deposited into the
Construction Fund shall be allocated among the Improvements in proportion to the
principal amount of bonds allocated for each purpose. Each Construction Fund

Page 125 of 185

shall be designated to reflect the purpose, e.g., "Park and Recreational Construction
Fund." The amounts credited to each Construction Fund shall be expended to
accomplish the purpose for which such fund was created. Issuance costs and other
expenses not specific to any one purpose shall be joint obligations to be paid from
each Construction Fund in proportion to the initial moneys credited thereto.
Moneys in the Construction Fund shall also be used to pay the principal of and
interest on the bonds when due if moneys in the Bond Fund are not sufficient for
that purpose. Disbursements shall be made from the Construction Fund on the basis
of requisitions which shall specify: the name of the person, firm or corporation to
whom payment is to be made; the amount of the payment; the purpose of the
payment and that the payment is a proper charge on the respective Construction
Fund. Each requisition must be signed by the Mayor and the City Clerk or such
other persons authorized by the City Council. The Trustee shall keep accurate
records of all payments made from the Construction Fund.
When the Improvements of a particular type (e.g., Park and Recreational
Improvements) have been completed and all required expenses have been paid and
expenditures made from the Construction Fund to accomplish such Improvements
and the financing thereof, this fact shall, if moneys remain in such Construction
Fund, be evidenced by a certificate signed by the Mayor, which certificate shall
state, among other things, the date of the completion and that all obligations payable
from such Construction Fund have been discharged. A copy of the certificate shall
be filed with the Trustee, and upon receipt thereof the Trustee shall transfer any
remaining balance into the Redemption Account in the Bond Fund.
Section 17.

(a) Moneys held for the credit of the Construction Fund and the Cost of Issuance
Fund may be invested and reinvested at the direction of the City in Permitted
Investments (as hereinafter defined) or other investments permitted by State law,
which shall mature, or which shall be subject to redemption by the holder thereof,
at the option of such holder, not later than the date or dates when such money will
be required for the purposes intended.
(b)
Moneys held for the credit of the Debt Service Reserve Account in the Bond
Fund shall be invested and reinvested at the direction of the City, and in the
Trustee's discretion in the absence of any direct instructions from the City, in
Permitted Investments, all of which shall mature, or which shall be subject to
redemption by the holder thereof, at the option of such holder, not later than seven
(7) years after the date of investment or the final maturity date of the outstanding
bonds, whichever is earlier.
(c)
Moneys held for the credit of the Bond Fund (other than the Debt Service
Reserve Account) and the Revenue Fund shall be invested and reinvested at the
direction of the City, and in the Trustee’s discretion in the absence of any direct
instructions from the City, in Permitted Investments, which shall mature, or which
shall be subject to redemption by the holder thereof, at the option of such holder,

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not later than the date or dates when the moneys will be required for payment of
the principal of and interest on the bonds when due.
(d)
Obligations so purchased as an investment of moneys in any fund shall be
deemed at all times to be a part of such fund and the interest accruing thereon and
any profit realized from such investments shall be credited to such fund, and any
loss resulting from such investment shall be charged to such fund.
(e)
"Permitted Investments" are defined as (1) direct or fully guaranteed
obligations of the United States of America ("Government Securities"), (2) direct
obligations of an agency, instrumentality or government-sponsored enterprise
created by an act of the United States Congress and authorized to issue securities
or evidences of indebtedness, regardless of whether the securities or evidences of
indebtedness are guaranteed for repayment by the United States Government, (3)
certificates of deposit or demand deposits of banks, including the Trustee, which
are insured by the FDIC or, if in excess of insurance coverage, collateralized by
Government Securities or other securities authorized by State law to secure public
funds or (4) money market funds invested exclusively in Government Securities
and the obligations described in (2) above.
(f)
All investments and deposits in the Bond Fund and the Revenue Fund shall
have a par value (or market value when less than par), exclusive of accrued interest
at all times at least equal to the amount of money credited to such funds and shall
be made in such a manner that the money required to be expended from any fund
will be available at the proper time or times.
(g)
Investments of moneys in all funds shall be valued in terms of current
market value as of the last day of each year, except that direct obligations of the
United States (State and Local Government Series) in book-entry form shall be
continuously valued at par or face principal amount.
Section 18.

In the event the office of Mayor, City Clerk or City Treasurer shall be abolished or
any two or more of such offices shall be merged or consolidated or in the event the
duties of a particular office shall be transferred to another office or offices, or in the
event of a vacancy in any such office by reason of death, resignation, removal from
office or otherwise, or in the event any such officer shall become incapable of
performing the duties of his office by reason of sickness, absence from the City or
otherwise, all powers conferred and all obligations and duties imposed upon such
office or officer shall be performed by the office or officers succeeding to the
principal functions thereof, or by the office or officer upon whom such powers,
obligations and duties shall be imposed by law.

Section 19.

Citizens Bank & Trust Co., Van Buren, Arkansas is hereby appointed to act as
Trustee and Paying Agent pursuant to this Ordinance. The Trustee shall be
responsible for the exercise of good faith and reasonable prudence in the execution
of its trusts. The recitals in this Ordinance and in the bonds are the recitals of the

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City and not of the Trustee. The Trustee shall not be required to take any action as
Trustee unless it shall have been requested to do so in writing by the owners of not
less than 10% in principal amount of bonds then outstanding and shall have been
offered reasonable security and indemnity against the costs, expenses and liabilities
to be incurred therein or thereby. The Trustee may resign by giving 60 days' notice
in writing to the City and the owners of the bonds. The majority in principal amount
of the owners of the outstanding bonds or the City, so long as the City is not in
default under this Ordinance, at any time, with or without cause, may remove the
Trustee. In the event of a vacancy in the office of Trustee, the City shall forthwith
designate a new Trustee by a written instrument filed in the office of the City Clerk.
The new Trustee shall be a bank or a trust company duly authorized to exercise
trust powers and subject to examination by federal or state authority, having a
reported capital and surplus of not less than $5,000,000. The Trustee and any
successor Trustee shall file a written acceptance and agreement to execute the trusts
imposed upon it by this Ordinance, but only upon the terms and conditions set forth
in this Ordinance and subject to the provisions of this Ordinance, to all of which
the respective owners of the bonds agree. Such written acceptance shall be filed
with the City Clerk and a copy thereof shall be placed in the bond transcript. Any
successor Trustee shall have all the powers herein granted to the original Trustee.
The Trustee's resignation shall take effect upon the acceptance of the trusts by the
successor Trustee.
Section 20.

(a) The terms of this Ordinance shall constitute a contract between the City and the
owners of the bonds and no variation or change in the undertaking herein set forth
shall be made while any of the bonds are outstanding, except as hereinafter set forth
in subsections (b) and (c).
(b)
The Trustee may consent to any variation or change in this Ordinance that
the Trustee determines is not to the material prejudice of the owners of the bonds
or in order to cure any ambiguity, formal defect or omission in this Ordinance or
any amendment hereto without the consent of the owners of the bonds.
(c)
The owners of not less than 75% in aggregate principal amount of the bonds
then outstanding shall have the right, from time to time, anything contained in this
Ordinance to the contrary notwithstanding, to consent to and approve the adoption
by the City of such ordinance supplemental hereto as shall be necessary or desirable
for the purpose of modifying, altering, amending, adding to or rescinding, in any
particular, any of the terms or provisions contained in this Ordinance or in any
supplemental ordinance; provided, however, that nothing contained in this Section
shall permit or be construed as permitting (1) an extension of the maturity of the
principal of or the interest on any bond, or (2) a reduction in the principal amount
of any bond or the rate of interest thereon, or (3) the creation of a pledge of the
Pledged Revenues other than a pledge created or permitted by this Ordinance, or
(4) a privilege or priority of any bond or bonds over any other bond or bonds, or
(5) a reduction in the aggregate principal amount of the bonds required for consent
to such supplemental ordinance.

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Section 21.

(a) The City covenants that it shall not take any action or suffer or permit any action
to be taken or condition to exist which causes or may cause the interest payable on
the bonds to be included in gross income for federal income tax purposes. Without
limiting the generality of the foregoing, the City covenants that the proceeds of the
sale of the bonds and the Pledged Revenues will not be used directly or indirectly
in such manner as to cause the bonds to be treated as "arbitrage bonds" within the
meaning of Section 148 of the Code.
(b)
The City represents that it has not used or permitted the use of, and
covenants that it will not use or permit the use of the Improvements or the proceeds
of the bonds, in such manner as to cause the bonds to be "private activity bonds"
within the meaning of Section 141 of the Code. In this regard, the City covenants
that (i) it will not use (directly or indirectly) the proceeds of the bonds to make or
finance loans to any person, and (ii) that while the bonds are outstanding the
Improvements will only be used by state or local governmental entities or persons
on a basis as members of the general public.
(c)
The City covenants that it will not reimburse itself from bond proceeds for
any costs paid prior to the date the bonds are issued except in compliance with
United States Treasury Regulation § 1.150-2 (the "Regulation"). This Ordinance
shall be considered an "official intent" for purposes of the Regulation.
(d)
The City will retain all documents and records pertaining to the bonds and
the Improvements for the life of the bonds plus an additional three years.
(e)
The City shall pay any arbitrage rebate due the United States Treasury under
Section 148 of the Code from moneys in the Bond Fund. The costs of calculating
the arbitrage rebate due and the arbitrage rebate amount shall be considered
administrative costs payable from moneys in the Bond Fund.

Section 22.

The City covenants that it will take no action which would cause the bonds to be
"federally guaranteed" within the meaning of Section 149(b) of the Code. The City
further covenants that it will submit to the Secretary of the Treasury of the United
States, not later than the 15th day of the second calendar month after the close of
the calendar quarter in which the bonds are issued, a statement concerning the
bonds which contains the information required by Section 149(e) of the Code.

Section 23.

The Disclosure Agreement, in substantially the form submitted to this meeting, is
approved, and the Mayor is hereby authorized and directed to execute and deliver
the Disclosure Agreement for and on behalf of the City. The Mayor is authorized
and directed to take all action required on the part of the City to fulfill the City's
obligations under the Disclosure Agreement. Any legal fees and other
administrative costs incurred by the City in connection with making the annual
report pursuant to the Disclosure Agreement (except audit fees) shall be considered
administrative charges that may be payable from moneys in the Bond Fund.

Page 129 of 185

Section 24.

The Mayor is hereby authorized and directed to work with Friday, Eldredge &
Clark, LLP, as bond counsel, to develop, adopt and implement written procedures
to monitor compliance with federal tax requirements with respect to tax-exempt
obligations of the City. The Mayor is further authorized to appoint a Responsible
Person who will have primary responsibility for monitoring post-issuance tax
compliance.

Section 25.

Following adoption, this Ordinance shall be posted in the following public places
in the City as set forth in Ordinance No. 04-2019 and Ordinance No. 10-2025: Van
Buren Municipal Complex, Van Buren Library, Van Buren Police Department, Van
Buren Senior Center and Crawford County District Court Building.

Section 26.

The provisions of this Ordinance are separable and in the event that any section or
part hereof shall be held to be invalid, such invalidity shall not affect the remainder
of this Ordinance.

Section 27.

All ordinances and resolutions and parts thereof in conflict herewith are hereby
repealed to the extent of such conflict.

Section 28.

It is hereby ascertained and declared that the Improvements are immediately needed
for the preservation of the public peace, health and safety and to remove existing
hazards thereto. The Improvements cannot be accomplished without the issuance
of the bonds, which cannot be sold at the interest rates specified herein unless this
Ordinance is immediately effective. Therefore, it is declared that an emergency
exists and this Ordinance being necessary for the preservation of the public peace,
health and safety shall be in force and take effect immediately upon and after its
passage.
[Remainder of page intentionally left blank]

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IN WITNESS WHEREOF, the City of Van Buren, Arkansas, by its City Council, did
pass, approve, and adopt, by a vote of _____ for and _____ against, the foregoing Ordinance at its
Regular Meeting held on the 26th day of October, 2026.

____________________________________
Joseph P. Hurst
Mayor
ATTESTED:

APPROVED AS TO FORM:

____________________________
Shawnna M. Reynolds
City Clerk/Treasurer

____________________________________
Jacob Howell
City Attorney

(SEAL)

Page 131 of 185

CERTIFICATE
The undersigned, City Clerk of the City of Van Buren, Arkansas (the "City"),
hereby certifies that the foregoing pages are a true and correct copy of Ordinance No. _________,
passed at a regular session of the City Council of the City, held at the regular meeting place of the
City Council at 5:30 p.m. on the 26th day of October, 2026, and that the Ordinance is of record in
Ordinance Record Book now in my possession.
GIVEN under my hand and seal this 26th day of October, 2026.
____________________________________
City Clerk
(SEAL)

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BOND PURCHASE AGREEMENT
$_________
City of Van Buren, Arkansas
Sales and Use Tax Bonds,
Series 2026
City of Van Buren, Arkansas
Attention: Mayor

October 26, 2026

Ladies and Gentlemen:
The undersigned Stephens Inc. (the "Underwriter"), hereby offers to enter into this
Bond Purchase Agreement (the "Agreement") with you, the City of Van Buren, Arkansas (the
"Issuer"), for the purchase by the Underwriter and the sale by you of the Bonds of the Issuer more
particularly described below. Upon approval by you and by the execution of the acceptance hereof
by the Mayor this Agreement shall be in full force and effect in accordance with its terms and shall
be valid, binding and enforceable upon both the Issuer and the Underwriter. The further terms of
this Agreement are:
1.
Upon the terms and conditions and upon the basis of the representations
herein set forth, the Underwriter hereby agrees to purchase from the Issuer and the Issuer hereby
agrees to sell to the Underwriter the entire principal amount of an issue of bonds designated "City
of Van Buren, Arkansas Sales and Use Tax Bonds, Series 2026" (the "Bonds") to be issued under
and secured by Ordinance No. ________ of the Issuer (the "Bond Ordinance") substantially in the
form heretofore delivered by you to the Underwriter, with only such changes therein as shall be
mutually agreed upon between the Issuer and the Underwriter.
2.
The Bonds are being issued for the purpose of financing all or a portion of
the costs of various capital improvements (collectively, the "Project"), funding a debt service
reserve and paying costs incidental thereto and to the issuance of the Bonds.
3.
The Bonds shall be secured by a pledge of the collections of two city-wide
sales and use taxes (the "Taxes") levied as follows: one at the rate of 0.5% under Ordinance No.
24-2025, adopted December 8, 2025 (the "Bond Tax Ordinance"), and the second at the rate of
0.5% under Ordinance No. 22-2025, adopted December 28, 2025 (the "Permanent Tax
Ordinance").
4.
The Bonds shall be dated the date of their delivery to the Underwriter.
Interest on the Bonds shall be payable on June 1 and December 1 of each year, commencing June
1, 2027. The Bonds shall be authorized in the principal amount of $__________ bearing interest
at the rates per annum and maturing on December 1 in each of the years and in the amounts as set
forth in the schedule attached hereto, Exhibit A. Citizens Bank & Trust Co., Van Buren, Arkansas
shall be Trustee and Paying Agent for the Bonds (the "Trustee").

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5.
The Bonds shall be subject to redemption prior to maturity, shall be payable,
shall be dated and shall be as otherwise described in the Bond Ordinance and the Official Statement
(identified in paragraph 9 below).
6.
The Underwriter hereby agrees to purchase all of the Bonds from the Issuer
and the Issuer hereby agrees to sell all of the Bonds to the Underwriter at a price of $_________
(principal amount _____ [net] original issue _______ of $_________ and less Underwriter's
discount of $_________). The sale and purchase of the Bonds shall take place at a closing (the
"Closing") at 10:00 a.m., prevailing local time, on December 7, 2026, or at such other time or on
such earlier or later date as is mutually agreed upon, and at the offices of Friday, Eldredge & Clark,
LLP, 400 West Capitol Avenue, Suite 2000, Little Rock, Arkansas. The Issuer will cause the
Trustee to authenticate and deliver one Bond certificate per maturity registered in the name of
Cede & Co., with a CUSIP number and to either (i) deliver the Bonds to The Depository Trust
Company, New York, New York ("DTC") not later than 1:15 P.M. Eastern Time on the last
business day preceding the date of Closing, with instructions to place the Bonds in safekeeping
and await further instructions from the Trustee or (ii) hold the Bonds in safekeeping under
procedures acceptable to DTC. At the Closing, and subject to satisfaction (or proper waiver by
the Underwriter) of the conditions to its obligations to purchase the Bonds, the Underwriter will
pay the purchase price of the Bonds in federal reserve funds payable to the order of the Trustee for
the account of the Issuer. Upon receipt of the purchase price the Trustee shall authorize DTC to
credit the Bonds to the Underwriter's account.
7.
The Issuer has delivered to the Underwriter, prior to the date of this
Agreement, a Preliminary Official Statement relating to the Bonds dated October 19, 2026 (the
"Preliminary Official Statement").
8.
Should the Issuer fail to cause the Trustee to deliver the Bonds to DTC or
hold the Bonds in safekeeping under procedures acceptable to DTC as provided herein, or should
the Issuer be unable to satisfy the conditions set forth in this Agreement (unless waived by the
Underwriter), or should any obligation of the Underwriter hereunder be terminated for any reason
permitted by this Agreement, except as set forth in Paragraph 16 hereof, neither party hereto shall
have any further rights against the other hereunder. The Underwriter and the Issuer understand
that in any of such events the Issuer's and the Underwriter's actual expenses, costs, or damages
may be unequal, and any such amounts incurred by either party may be greater or may be less than
those amounts incurred by the other. Accordingly, and subject to Paragraph 16, the Underwriter
hereby waives any right to claim that the Underwriter's actual expenses, costs or damages are or
will be greater than the actual expenses, costs or damages incurred or suffered by the Issuer, and
the Issuer hereby waives any right to claim that the Issuer's actual expenses, costs or damages are
or will be greater than any actual expenses, costs or damages incurred or suffered by the
Underwriter, and neither party shall be entitled to claim any damages from the other.
9.
The Issuer will sell the Bonds to the Underwriter and the Underwriter will
make a public offering thereof in reliance upon representations and agreements herein set forth
solely pursuant to the Official Statement hereinafter described. The Issuer shall deliver or cause
to be delivered to the Underwriter, within seven (7) business days after acceptance of this
Agreement, a copy of the Official Statement, substantially in the form of the Preliminary Official

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Statement, with only such changes therein as shall be accepted by the Underwriter (such Official
Statement with such subsequent modifications and changes, if any, and including the cover page
and all appendices, exhibits, reports and statements included therein or attached thereto being
herein called the "Official Statement"), signed on behalf of the Issuer by its Mayor. The Issuer
authorizes the use of copies of the Official Statement and Bond Ordinance in connection with the
public offering and sale of the Bonds. The Issuer ratifies the lawful use by the Underwriter prior
to the date hereof of the Preliminary Official Statement.
10.

The Issuer represents and warrants to, and agrees with, the Underwriter that:

(a)
The Issuer is a city of the first class, duly organized and existing under the
laws of the State of Arkansas, and has, and at the date of Closing will have, full legal right, power,
and authority (i) to enter into this Agreement, (ii) to adopt the Bond Ordinance, the Bond Tax
Ordinance and the Permanent Tax Ordinance (collectively, the "Ordinances"), (iii) to issue, sell
and deliver the Bonds to the Underwriter as provided herein, (iv) to levy the Taxes and pledge the
collections thereof (the "Pledged Revenues"), and (v) to carry out and consummate the transactions
contemplated by this Agreement, the Ordinances and the Official Statement;
(b)
The Issuer has complied, and will at the Closing be in compliance, in all
respects, with Amendment No. 62 to the Constitution of the State of Arkansas ("Amendment 62")
and Title 14, Chapter 164, Subchapter 3 of the Arkansas Code of 1987 Annotated (the "Authorizing
Legislation");
(c)
By adoption of the Bond Ordinance, pursuant to the Authorizing
Legislation, the Issuer has duly authorized and approved the Official Statement, has duly
authorized and approved the execution and delivery of, and the performance by the Issuer of the
obligations contained in the Bonds and this Agreement and has duly authorized the consummation
by it of all other transactions contemplated by the Official Statement. When delivered to and paid
for by the Underwriter at the Closing in accordance with the provisions of this Agreement, the
Bonds will have been duly authorized, executed, authenticated, issued and delivered and will
constitute valid and binding obligations of the Issuer in accordance with their terms, in conformity
with the Authorizing Legislation, entitled to the benefit and security of the Bond Ordinance;
(d)
The execution and delivery of this Agreement, the Bonds, the adoption of
the Ordinances, the levy of the Taxes and the carrying out and consummation of the transactions
contemplated by the Official Statement, will not conflict with or constitute a breach of or default
under any applicable law or administrative regulation of the State of Arkansas or the United States
or any judgment or decree or any agreement or other instrument to which the Issuer is a party or
is otherwise subject;
(e)
At the time of the Issuer's acceptance hereof and at all times subsequent
thereto, to and including the time of the Closing, the Official Statement does not and will not
contain any untrue statement of a material fact or omit to state a material fact required to be stated
therein or necessary to make the statements therein, in the light of the circumstances under which
they were made, not misleading;

Page 135 of 185

(f)
The Issuer will immediately notify the Underwriter of any adverse change
of a material nature in the financial or economic condition of the Issuer;
(g)
There is no action, suit, proceeding or investigation involving the Issuer
before or by any court, public board, or body pending or, to the knowledge of the Issuer, threatened
wherein an unfavorable decision, ruling or finding would: (i) affect the creation, organization,
existence or powers of the Issuer or the titles of its officials to their offices, (ii) enjoin or restrain
the issuance, sale and delivery of the Bonds, the collection of the Taxes or the pledge of the Pledged
Revenues or the accomplishment of the Project, (iii) in any way question or affect any of the rights,
powers, duties, or obligations of the Issuer with respect to the Taxes, (iv) in any way question or
affect any authority for the issuance of the Bonds or the validity or enforceability of the Bonds or
the Ordinances, or (v) in any way question or affect this Agreement or the transactions
contemplated by this Agreement, the Official Statement, the Bond Ordinance or any other
agreement or instrument relating thereto to which the Issuer is a party;
(h)
The Issuer shall enter into a Continuing Disclosure Agreement (the
"Disclosure Agreement") with the Trustee, as Dissemination Agent, as required by Rule 15c2-12
of the Securities Exchange Act of 1934, as amended, and as described in the Official Statement;
(i)
Except for such failures to comply with continuing disclosure undertakings
(for which no determination of materiality is made) as set forth in the Official Statement, the Issuer
has been in compliance with its continuing disclosure undertakings in all material respects for the
past five years;
(j)
The Taxes have been duly levied, and the Pledged Revenues have been duly
pledged to the payment of the Bonds under the Bond Ordinance pursuant to the authority granted
by the Authorizing Legislation; and
(k)
The Issuer will furnish such information, execute such instruments, and take
such other action in cooperation with the Underwriter, as the Underwriter may reasonably request,
to qualify the Bonds for offer and sale under the Blue Sky or other securities laws and regulations
of such states and other jurisdictions of the United States of America as the Underwriter may
designate and will assist, if necessary therefor, in the continuance of such qualifications in effect
so long as required for the distribution of the Bonds; provided, however, that the Issuer shall not
be required to qualify as a foreign corporation or to file any general consents to service of process
under the laws of any state.
11.

The Issuer covenants and agrees with the Underwriter that:

(a)
It will advise the Underwriter promptly of any proposal to amend or
supplement the Official Statement or any part thereof. If between the date of this Agreement and
twenty-five (25) days after the end of the underwriting period an event occurs which is materially
adverse to the purpose for which the Official Statement is to be used and is not disclosed in the
Official Statement, or if there shall exist any event which in the reasonable judgment of the
Underwriter makes untrue or incorrect in any material respect any statement or information
contained in the Official Statement, or is not reflected in the Official Statement but should be

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reflected therein in order to make the statements and information contained therein not misleading
in any material respect, the Issuer will supplement or amend the Official Statement in a form and
in a manner approved by the Underwriter, the expense of which shall be paid by the Issuer. The
"end of the underwriting period" shall mean the later of (i) the date of the delivery of the Bonds
by the Issuer to the Underwriter, or (ii) the date the Underwriter no longer retains (directly or as a
syndicate member) an unsold balance of the securities for sale to the public. The Underwriter
agrees to notify the Issuer in writing when the underwriting period has ended and if no such
notification is given within twenty-five (25) days after the date of the Closing, the Issuer may
assume that the underwriting period ended on the date of the Closing; and
(b)
It will indemnify and hold harmless the Underwriter and each person, if any,
who controls (as such term is defined in Section 15 of the Securities Act of 1933, as amended) the
Underwriter against any and all losses, claims, damages, and liabilities of any kind, including the
expenses of defense thereof, (i) arising out of any statement or information contained in the Official
Statement relating to the Issuer, the Bond Ordinance, the Bonds, security for the Bonds, the Taxes
and use of Bond proceeds that is untrue or incorrect in any material respect or the omission from
the Official Statement of any statement or information relating to the Issuer, the Bonds, security
for the Bonds, the Taxes, use of Bond proceeds and the Bond Ordinance, which is necessary to
make the statements therein not misleading in any material respect, and (ii) to the extent of the
aggregate amount paid in settlement of any litigation commenced or threatened arising from a
claim based upon any such untrue statement or omission if such settlement is effected with the
written consent of the Issuer (which consent shall not be unreasonably withheld). In case any
claim shall be made or action brought against the Underwriter or any controlling person (as
aforesaid) based upon the Official Statement, in respect of which indemnity may be sought against
the Issuer, the Underwriter shall promptly notify the Issuer in writing, setting forth the particulars
of such claim or action, and the Issuer shall assume the defense thereof, including the retaining of
counsel and the payment of all expenses. The Underwriter or any such controlling person shall
have the right to retain separate counsel in any such action and to participate in the defense thereof,
but the fees and expenses of such counsel shall be at the Underwriter's expense or the expense of
such controlling person unless the retaining of such counsel has been specifically authorized by
the Issuer.
12.
The Underwriter has entered into this Agreement in reliance upon the
representations and agreements of the Issuer herein and the performance by the Issuer of its
obligations hereunder, both as of the date hereof and as of the Closing. The Underwriter's
obligations under this Agreement are and shall be subject to the following further conditions:
(a)
At the Closing, the Ordinances shall be in full force and effect and shall not
have been amended, modified or supplemented after the date hereof except as may have been
agreed to by the Underwriter, and the Issuer shall have duly adopted and there shall be in full force
and effect such other ordinances and resolutions as, in the opinion of Friday, Eldredge & Clark,
LLP, Little Rock, Arkansas ("Bond Counsel"), and the Underwriter, shall be necessary in
connection with the transactions contemplated hereby;

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(b)
The representations and warranties of the Issuer contained herein shall be
true, complete, and correct on the date hereof and on and as of the date of the Closing, as if made
on and as of the date of the Closing;
(c)

At or prior to the Closing, the Underwriter shall have received the

following:
(1)

The Official Statement of the Issuer executed on behalf of the Issuer

by its Mayor;
(2)
The Ordinances, certified by the Issuer under its seal as having been
duly adopted and as being in full force and effect, with only such amendments as may have
been agreed to by the Underwriter;
(3)
An unqualified approving opinion, dated the date of the Closing, of
Bond Counsel, in form and substance satisfactory to the Underwriter, and a supplemental
opinion of Bond Counsel, dated the date of the Closing, in form and substance satisfactory
to the Underwriter, to the effect that, (i) this Agreement has been duly authorized, executed,
and delivered by the Issuer and, assuming due execution by the Underwriter, and subject
to the extent that (A) the enforceability of the rights and remedies set forth herein may be
limited by bankruptcy, insolvency, or other laws affecting creditors' rights generally and
(B) that the rights to indemnification hereunder may be limited by federal securities laws
or state law or the public policies underlying such laws and may not be enforceable,
constitutes a valid and binding agreement in accordance with its terms; (ii) the Issuer has
ratified the distribution of the Preliminary Official Statement; (iii) the Bond Ordinance
conforms as to form and tenor with the terms and provisions thereof as summarized and
set out in the Official Statement; (iv) the Bonds are exempt from registration under the
Securities Act of 1933, as amended, and the Bond Ordinance is exempt from qualification
under the Trust Indenture Act of 1939, as amended; and (v) the Disclosure Agreement has
been duly authorized, executed and delivered by the Issuer and, assuming due execution
by the Trustee, and subject to the extent that (A) the enforceability of the rights and
remedies set forth therein might be limited by bankruptcy, insolvency, or other laws
affecting creditors’ rights generally and (B) that the right to indemnification thereunder
may be limited by federal securities laws or state law or the public policies underlying such
laws and may not be enforceable, constitutes a valid and binding agreement in accordance
with its terms. In addition, such counsel shall state in the opinion or in a separate letter, or
letters, dated the date of the Closing and addressed to the Underwriter, that based upon the
examinations which they have made as Bond Counsel, which shall be specified, nothing
has come to their attention which would lead them to believe that the Official Statement
(except for the statistical data included in the Official Statement, as to which no view need
be expressed) contains an untrue statement of a material fact or omits to state a material
fact required to be stated therein or necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading;

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(4)
A certificate dated the date of the Closing and signed by the Mayor
and City Clerk of the Issuer to the effect that, (i) the representations and warranties of the
Issuer contained herein are true and correct in all material respects on and as of the date of
the Closing as if made on the date of the Closing, (ii) there is no action, suit, proceeding or
investigation involving the Issuer before or by any court or public board or body pending
or, to the knowledge of the Issuer, threatened wherein an unfavorable decision, ruling or
finding would: (A) affect the creation, organization, existence or powers of the Issuer or
the titles of its officials to their respective offices, (B) enjoin or restrain the issuance, sale
and delivery of the Bonds, the collection of the Taxes or the pledge of the Pledged
Revenues or the accomplishment of all or any portion of the Project, (C) in any way
question or affect any of the rights, powers, duties or obligations of the Issuer with respect
to the Taxes, (D) in any way question or affect any authority for the issuance of the Bonds
or the validity or enforceability of the Bonds, the Taxes or the Ordinances, or (E) in any
way question or affect this Agreement or the transactions contemplated hereby, or by the
Official Statement, or any other agreement or instrument to which the Issuer is a party and
relating to the Bonds, (iii) the Issuer has complied with all agreements and covenants and
satisfied all conditions on its part to be complied with or satisfied at or prior to the Closing,
and (iv) to the best of their knowledge, neither the Official Statement nor any amendment
or supplement thereto, as of their issue dates, contains any untrue statement of a material
fact or omits to state any material fact necessary in order to make the statements contained
therein, in the light of the circumstances under which they were made, not misleading;
(5)
Evidence that as of the Closing, the Bonds have received an
underlying rating of "A+ (stable outlook)" by S&P Global Ratings ("S&P");
(6)
The Disclosure Agreement executed by the Issuer and the Trustee,
with only such amendments as may have been agreed to by the Underwriter; and
(7)
Such additional legal opinions, certificates, proceedings,
instruments, and other documents as Bond Counsel or the Underwriter may reasonably
request to evidence compliance by the Issuer with legal requirements, the truth and
accuracy, as of the time of Closing, of the representations of the Issuer herein contained,
and the due performance or satisfaction by the Issuer at or prior to such time of all
agreements then to be performed and all conditions then to be satisfied by the Issuer.
All of the opinions, letters, certificates, instruments, and other documents
mentioned above or elsewhere in this Agreement shall be deemed to be in compliance with the
provisions hereof if, but only if, they are in form and substance satisfactory to the Underwriter.
The performance of any and all obligations of the Issuer under this Agreement and the performance
of any and all conditions contained herein for the benefit of the Underwriter may be waived by the
Underwriter in its sole discretion.
If the Issuer shall be unable to satisfy the conditions to the obligations of the
Underwriter to purchase, to accept delivery of, and to pay for the Bonds contained in this
Agreement, or if the obligations of the Underwriter to purchase, to accept delivery of, and to pay
for the Bonds shall be terminated for any reason permitted by this Agreement, this Agreement

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shall terminate and neither the Underwriter nor the Issuer shall be under further obligation
hereunder, except that the obligations of the Issuer and the Underwriter set forth in Paragraph 16
hereof shall continue in full force and effect.
13.
The Underwriter shall have the right to cancel and terminate its obligations
under this Agreement at any time before the Closing if any of the following occurs:
(a)
Legislation shall have been enacted by the Congress of the United States,
or adopted by either House or any committee thereof, or a decision shall have been rendered by a
court of the United States or the Tax Court of the United States, or a ruling shall have been made
or regulations shall have been proposed or made by the Treasury Department of the United States,
the Internal Revenue Service or any other governmental agency with respect to federal taxation
upon revenues or other income of the general character to be derived by the Issuer or by any similar
body, or upon interest received on obligations of the general character of the Bonds which, in the
opinion of the Underwriter, materially adversely affects the market price of the Bonds or the
market price generally of obligations of the general character of the Bonds; or
(b)
Any legislation, ordinance, rule or regulation shall be enacted or be actively
considered for enactment by any governmental body, department or agency of the State of
Arkansas, or a decision by any court of competent jurisdiction within the State of Arkansas shall
be rendered which, in the opinion of the Underwriter, materially adversely affects the market price
of the Bonds; or
(c)
A stop order, ruling, regulation or official statement by or on behalf of the
Securities and Exchange Commission shall be issued or made to the effect that the issuance,
offering or sale of the Bonds, or of obligations of the general character of the Bonds, as
contemplated hereby, is in violation of any provisions of the Securities Act of 1933, as amended,
or the Trust Indenture Act of 1939, as amended; or
(d)
(i) Any restriction on, or general suspension of, trading in securities on the
New York Stock Exchange or any banking moratorium, or the establishment by the New York
Stock Exchange, by the Securities and Exchange Commission, by any federal or state agency, or
by the decision of any court, of any limitation on prices for such trading or (ii) any new outbreak
of hostilities or other national or international calamity or crisis, the effect of which on the financial
markets of the United States shall be such as to make it impracticable, in the reasonable judgment
of the Underwriter, for the Underwriter to enforce contracts for the sale of the Bonds; or
(e)
Any event or condition which, in the judgment of the Underwriter, renders
untrue or incorrect, in any material respect as of the time the same purports to speak, the
information, including the financial statements, contained in the Official Statement, or which
requires that information not reflected in the Official Statement should be reflected therein in order
to make the statements and information contained therein not misleading in any material respect
as of such time; provided the Issuer and the Underwriter will use their best efforts to amend or
supplement the Official Statement to reflect, to the satisfaction of the Underwriter, such changes
in or additions to the information contained in the Official Statement.

Page 140 of 185

14.
All notices, demands and formal actions hereunder will be in writing
mailed, telegraphed or delivered to:
The Issuer:

City of Van Buren, Arkansas
1003 Broadway
Van Buren, Arkansas 72956
Attention: Mayor

The Underwriter:

Stephens Inc.
111 Center Street, Suite 100
Little Rock, Arkansas 72201
Attention: Public Finance

15.
All representations, warranties and covenants of the Issuer contained herein
shall remain operative and in full force and shall survive (a) the execution and delivery of this
Agreement, (b) any investigation made by or on behalf of the Underwriter, (c) the purchase of the
Bonds hereunder, and (d) any disposition of or payment for the Bonds.
16.
(a) The Underwriter shall be under no obligation to pay, and the Issuer shall
pay (from proceeds of sale of the Bonds or otherwise), any expenses incident to the performance
of the Issuer's obligations hereunder, including, but not limited to: (i) the fees and disbursements
of Bond Counsel and any counsel to the Issuer, (ii) the fees and disbursements of any other experts
or consultants retained by the Issuer, (iii) charges for obtaining CUSIP numbers for the Bonds, (iv)
the cost of preparation and printing of this Agreement, the Bonds, the Preliminary Official
Statement and the Official Statement, (v) the Trustee's fees and expenses, (vi) legal publication
costs, (vii) the Underwriter's fees payable to DTC relating to the underwriting of the Bonds; (viii)
the rating fees of S&P; and (ix) the Underwriter's ticket and day loan charges and Ipreo fees, if
any, and other costs of the Closing and delivering the Bonds.
(b)
The Underwriter shall pay: (i) the cost of preparation and printing of Blue
Sky and Legal Investment Surveys, (ii) all advertising expenses in connection with the public
offering of the Bonds, and (iii) other expenses associated with the public offering and distribution
of the Bonds except as described above.
17.
(a) The Underwriter agrees to assist the Issuer in establishing the issue price
of the Bonds and shall execute and deliver to the Issuer at Closing an "issue price" or similar
certificate, together with the supporting pricing wires or equivalent communications, substantially
in the form attached hereto as Exhibit B, with such modifications as may be appropriate or
necessary, in the reasonable judgment of the Underwriter, the Issuer and Bond Counsel, to
accurately reflect, as applicable, the sales price or prices or the initial offering price or prices to
the public of the Bonds.
(b)
Except as otherwise set forth in Exhibit A attached hereto, the Issuer will
treat the first price at which 10% of each maturity of the Bonds (the "10% test") is sold to the
public as the issue price of that maturity. At or promptly after the execution of this Agreement,
the Underwriter shall report to the Issuer the price or prices at which the Underwriter has sold to

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the public each maturity of the Bonds. If at that time the 10% test has not been satisfied as to any
maturity of the Bonds, the Underwriter agrees to promptly report to the Issuer the prices at which
Bonds of that maturity have been sold by the Underwriter to the public. That reporting obligation
shall continue, whether or not the Closing date has occurred, until either (i) the Underwriter has
sold all Bonds of that maturity or (ii) the 10% test has been satisfied as to the Bonds of that
maturity, provided that, the Underwriter's reporting obligation after the Closing date may be at
reasonable periodic intervals or otherwise upon request of the Issuer or Bond Counsel. For
purposes of this Section, if Bonds mature on the same date but have different interest rates, each
separate CUSIP number within that maturity will be treated as a separate maturity of the Bonds.
(c)
The Underwriter confirms that it has offered the Bonds to the public on or
before the date of this Agreement at the offering price or prices (the "initial offering price"), or at
the corresponding yield or yields, as set forth in Exhibit A attached hereto, except as otherwise set
forth therein. Exhibit A also sets forth, as of the date of this Agreement, the maturities, if any, of
the Bonds for which the 10% test has not been satisfied and for which the Issuer and the
Underwriter agree that the restrictions set forth in the next sentence shall apply, which will allow
the Issuer to treat the initial offering price to the public of each such maturity as of the sale date as
the issue price of that maturity (the "hold-the-offering-price rule"). So long as the hold-theoffering-price rule remains applicable to any maturity of the Bonds, the Underwriter will neither
offer nor sell unsold Bonds of that maturity to any person at a price that is higher than the initial
offering price to the public during the period starting on the sale date and ending on the earlier of
the following:
(i)

the close of the fifth (5th) business day after the sale date; or

(ii)
the date on which the Underwriter has sold at least 10% of that
maturity of the Bonds to the public at a price that is no higher than the initial offering price
to the public.
Upon written request of the Issuer, the Underwriter will advise the Issuer promptly
after the close of the fifth (5th) business day after the sale date whether it has sold 10% of that
maturity of the Bonds to the public at a price that is no higher than the initial offering price to the
public.
(d)

The Underwriter confirms that:

(i)
any selling group agreement and any third-party distribution
agreement relating to the initial sale of the Bonds to the public, together with the related
pricing wires, contains or will contain language obligating each dealer who is a member of
the selling group and each broker-dealer that is a party to such third-party distribution
agreement, as applicable:
(A) (i) to report the prices at which it sells to the public the unsold
Bonds of each maturity allocated to it, whether or not the Closing date has occurred,
until either all Bonds of that maturity allocated to it have been sold or it is notified
by the Underwriter that the 10% test has been satisfied as to the Bonds of that

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maturity, provided that, the reporting obligation after the Closing date may be at
reasonable periodic intervals or otherwise upon request of the Underwriter, and (ii)
to comply with the hold-the-offering-price rule, if applicable, if and for so long as
directed by the Underwriter,
(B)
to promptly notify the Underwriter of any sales of Bonds
that, to its knowledge, are made to a purchaser who is a related party to an
underwriter participating in the initial sale of the Bonds to the public (each such
term being used as defined below), and
(C)
to acknowledge that, unless otherwise advised by the dealer
or broker-dealer, the Underwriter shall assume that each order submitted by the
dealer or broker-dealer is a sale to the public.
(ii)
any selling group agreement relating to the initial sale of the Bonds
to the public, together with the related pricing wires, contains or will contain language
obligating each dealer that is a party to a third-party distribution agreement to be employed
in connection with the initial sale of the Bonds to the public to require each broker-dealer
that is a party to such third-party distribution agreement to (A) report the prices at which it
sells to the public the unsold Bonds of each maturity allocated to it, whether or not the
Closing date has occurred, until either all Bonds of that maturity allocated to it have been
sold or it is notified by the Underwriter or the dealer that the 10% test has been satisfied as
to the Bonds of that maturity, provided that, the reporting obligation after the Closing date
may be at reasonable periodic intervals or otherwise upon request of the Underwriter or the
dealer, and (B) comply with the hold-the-offering-price rule, if applicable, if and for so
long as directed by the Underwriter or the dealer and as set forth in the related pricing
wires.
(e)
The Issuer acknowledges that, in making the representations set forth in this
Section, the Underwriter will rely on (i) in the event a selling group has been created in connection
with the initial sale of the Bonds to the public, the agreement of each dealer who is a member of
the selling group to comply with the requirements for establishing issue price of the Bonds,
including, but not limited to, its agreement to comply with the hold-the-offering-price rule, if
applicable to the Bonds, as set forth in a selling group agreement and the related pricing wires, and
(ii) in the event that a third-party distribution agreement was employed in connection with the
initial sale of the Bonds to the public, the agreement of each broker-dealer that is a party to such
agreement to comply with the requirements for establishing issue price of the Bonds, including,
but not limited to, its agreement to comply with the hold-the-offering-price rule, if applicable to
the Bonds, as set forth in the third-party distribution agreement and the related pricing wires. The
Issuer further acknowledges that the Underwriter shall not be liable for the failure of any dealer
who is a member of a selling group, or of any broker-dealer that is a party to a third-party
distribution agreement, to comply with its corresponding agreement to comply with the
requirements for establishing issue price of the Bonds, including, but not limited to, its
agreement to comply with the hold-the-offering-price rule, if applicable to the Bonds.

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(f)
The Underwriter acknowledges that sales of any Bonds to any person that
is a related party to an underwriter participating in the initial sale of the Bonds to the public (each
such term being used as defined below) shall not constitute sales to the public for purposes of this
section. Further, for purposes of this section:
(i)
"maturity" means Bonds with the same credit and payment terms.
Bonds with different maturity dates, or Bonds with the same maturity date but different
stated interest rates, are treated as separate maturities;
(ii)

"public" means any person other than an underwriter or a related

party;
(iii)
"underwriter" means (A) any person that agrees pursuant to a written
contract with the Issuer (or with the Underwriter to form an underwriting syndicate) to
participate in the initial sale of the Bonds to the public and (B) any person that agrees
pursuant to a written contract directly or indirectly with a person described in clause (A) to
participate in the initial sale of the Bonds to the public (including a member of a selling
group or a party to a third-party distribution agreement participating in the initial sale of
the Bonds to the public);
(iv)
a purchaser of any of the Bonds is a "related party" to an underwriter
if the underwriter and the purchaser are subject, directly or indirectly, to (A) more than
50% common ownership of the voting power or the total value of their stock, if both entities
are corporations (including direct ownership by one corporation of another), (B) more than
50% common ownership of their capital interests or profits interests, if both entities are
partnerships (including direct ownership by one partnership of another), or (C) more than
50% common ownership of the value of the outstanding stock of the corporation or the
capital interests or profit interests of the partnership, as applicable, if one entity is a
corporation and the other entity is a partnership (including direct ownership of the
applicable stock or interests by one entity of the other); and
(v)

"sale date" means the date of execution of this Agreement by all

parties.
18.
This Agreement may be executed in any number of counterparts with each
executed counterpart constituting an original but all of which together shall constitute one and the
same instrument.
19.
This Agreement will inure to the benefit of and be binding upon the parties
hereto and their successors and will not confer any rights upon any other person. This Agreement
shall be governed by and construed in accordance with the laws of the State of Arkansas.

Page 144 of 185

STEPHENS INC.
By _________________________________
Authorized Representative
ACCEPTED this 26th day of October, 2026.
CITY OF VAN BUREN, ARKANSAS
By __________________________________
Mayor

Page 145 of 185

EXHIBIT A
Maturities, Principal Amounts, Interest Rates, Reoffering Yields and
Initial Offering Prices
Year
(December 1)

Principal
Amount

Interest
Rate

A-1

Reoffering
Yield

Initial
Offering Price

Page 146 of 185

The following are the maturities of the Bonds for which the 10% test has not been satisfied
and for which the Issuer and the Underwriter agree that the hold-the-offering-price rule shall
apply.
Hold-the-Offering-Price Maturities
Year
(December 1)

Principal
Amount

Interest
Rate

A-2

Reoffering
Yield

Initial
Offering Price

Page 147 of 185

EXHIBIT B
$_________________
City of Van Buren, Arkansas
Sales and Use Tax Bonds,
Series 2026
ISSUE PRICE CERTIFICATE
Stephens Inc. (the "Representative") hereby certifies as set forth below with respect to the
sale and issuance of the above-captioned obligations (the "Bonds").
1.
[Alternative 1 – All Maturities Use General Rule: Sale of the Bonds. As of the
date of this certificate, for each Maturity of the Bonds, the first price at which at least 10% of such
Maturity of the Bonds was sold to the Public is the respective price listed in Schedule
A.][Alternative 2 – Select Maturities Use General Rule: Sale of the General Rule Maturities. As
of the date of this certificate, for each Maturity of the General Rule Maturities, the first price at
which at least 10% of such Maturity of the Bonds was sold to the Public is the respective price
listed in Schedule A.]
2.

Initial Offering Price of the [Bonds][Hold-the-Offering-Price Maturities].

(a)
[Alternative 1 – All Maturities Use Hold-the-Offering-Price Rule: The
Representative offered the Bonds to the Public for purchase at the respective initial offering prices
listed in Schedule A (the "Initial Offering Prices") on or before the Sale Date. A copy of the
pricing wire or equivalent communication for the Bonds is attached to this certificate as Schedule
B.] [Alternative 2 – Select Maturities Use Hold-the-Offering-Price Rule: The Representative
offered the Hold-the-Offering-Price Maturities to the Public for purchase at the respective initial
offering prices listed in Schedule A (the "Initial Offering Prices") on or before the Sale Date. A
copy of the pricing wire or equivalent communication for the Bonds is attached to this certificate
as Schedule B.]
(b)
[Alternative 1 – All Maturities Use Hold-the-Offering-Price Rule: As set forth in
the Bond Purchase Agreement, the Representative has agreed in writing that, (i) for each Maturity
of the Bonds, it would neither offer nor sell any of the Bonds of such Maturity to any person at a
price that is higher than the Initial Offering Price for such Maturity during the Holding Period for
such Maturity (the "hold-the-offering-price rule"), and (ii) any selling group agreement shall
contain the agreement of each dealer who is a member of the selling group, and any retail
distribution agreement shall contain the agreement of each broker-dealer who is a party to the retail
distribution agreement, to comply with the hold-the-offering-price rule. Pursuant to such
agreement, no Underwriter (as defined below) has offered or sold any Maturity of the Bonds at a
price that is higher than the respective Initial Offering Price for that Maturity of the Bonds during
the Holding Period. [Alternative 2 - Select Maturities Use Hold-the-Offering-Price Rule: As set
forth in the Bond Purchase Agreement, the Representative has agreed in writing that, (i) for each
Maturity of the Hold-the-Offering-Price Maturities, it would neither offer nor sell any of the Bonds
of such Maturity to any person at a price that is higher than the Initial Offering Price for such

B-1

Page 148 of 185

Maturity during the Holding Period for such Maturity (the "hold-the-offering-price rule"), and (ii)
any selling group agreement shall contain the agreement of each dealer who is a member of the
selling group, and any retail distribution agreement shall contain the agreement of each brokerdealer who is a party to the retail distribution agreement, to comply with the hold-the-offeringprice rule. Pursuant to such agreement, no Underwriter (as defined below) has offered or sold any
Maturity of the Hold-the-Offering-Price Maturities at a price that is higher than the respective
Initial Offering Price for that Maturity of the Bonds during the Holding Period.
3.

Defined Terms.

[(a)
Bond Purchase Agreement means the Bond Purchase Agreement dated October 26,
2026 by and between the Issuer and the Representative.]
[(b)
General Rule Maturities means those Maturities of the Bonds listed in Schedule A
hereto as the "General Rule Maturities."]
[(c)
Hold-the-Offering-Price Maturities means those Maturities of the Bonds listed in
Schedule A hereto as the "Hold-the-Offering-Price Maturities."]
[(d)
Holding Period means, with respect to a Hold-the-Offering-Price Maturity, the
period starting on the Sale Date and ending on the earlier of (i) the close of the fifth business day
after the Sale Date (______________, 2026), or (ii) the date on which the Underwriter has sold at
least 10% of such Hold-the-Offering-Price Maturity to the Public at prices that are no higher than
the Initial Offering Price for such Hold-the-Offering-Price Maturity.]
(e)

Issuer means the City of Van Buren, Arkansas.

(f)
Maturity means Bonds with the same credit and payment terms. Bonds with
different maturity dates, or Bonds with the same maturity date but different stated interest rates,
are treated as separate maturities.
(g)
Public means any person (including an individual, trust, estate, partnership,
association, company, or corporation) other than an Underwriter or a Related Party to an
Underwriter.
(h)
A purchaser of any of the Bonds is a Related Party to any underwriter if the
Underwriter and the purchaser are subject, directly or indirectly, to (i) more than 50% common
ownership of the voting power or the total value of their stock, if both entities are corporations
(including direct ownership by one corporation of another), (ii) more than 50% common ownership
of their capital interests or profits interests, if both entities are partnerships (including direct
ownership by one partnership of another), or (iii) more than 50% common ownership of the value
of the outstanding stock of the corporation or the capital interests or profit interests of the
partnership, as applicable, if one entity is a corporation and the other entity is a partnership
(including direct ownership of the applicable stock or interests by one entity of the other).

B-2

Page 149 of 185

[(i)
Sale Date means the first day on which there is a binding contract in writing for the
sale of a Maturity of the Bonds. The Sale Date of the Bonds is October 26, 2026.]
(j)
Underwriter means (i) any person that agrees pursuant to a written contract with
the Issuer (or with the Representative to form an underwriting syndicate) to participate in the initial
sale of the Bonds to the Public, and (ii) any person that agrees pursuant to a written contract directly
or indirectly with a person described in clause (i) of this paragraph to participate in the initial sale
of the Bonds to the Public (including a member of a selling group or a party to a retail distribution
agreement participating in the initial sale of the Bonds to the Public).
The representations set forth in this certificate are limited to factual matters only. Nothing
in this certificate represents the Representative’s interpretation of any laws, including specifically
Sections 103 and 148 of the Internal Revenue Code of 1986, as amended, and the Treasury
Regulations thereunder. The undersigned understands that the foregoing information will be relied
upon by the Issuer with respect to certain of the representations set forth in the City's Closing
Certificate and with respect to compliance with the federal income tax rules affecting the Bonds,
and by Friday, Eldredge & Clark, LLP, in connection with rendering its opinion that the interest
on the Bonds is excluded from gross income for federal income tax purposes, the preparation of
Internal Revenue Service Form 8038-G, and other federal income tax advice it may give to the
Issuer from time to time relating to the Bonds.
STEPHENS INC.
By: ________________________________
Authorized Representative
Dated: December 7, 2026.

B-3

Page 150 of 185

SCHEDULE A
SALE PRICES OF THE GENERAL RULE MATURITIES AND
INITIAL OFFERING PRICES OF THE HOLD-THE-OFFERING-PRICE MATURITIES
(Attached)

B-4

Page 151 of 185

SCHEDULE B
PRICING WIRE OR EQUIVALENT COMMUNICATION
(Attached)

B-5

Page 152 of 185

CONTINUING DISCLOSURE AGREEMENT
This Continuing Disclosure Agreement (the "Disclosure Agreement") is executed
and delivered by the City of Van Buren, Arkansas (the "Issuer") and Citizens Bank & Trust Co.,
Van Buren, Arkansas (the "Trustee") in connection with the issuance of the Issuer's Sales and Use
Tax Bonds, Series 2026 (the "Bonds"). The Bonds are being issued pursuant to Ordinance No.
_________ of the Issuer, adopted October 26, 2026 (the "Authorizing Ordinance"). The Issuer
and the Trustee covenant and agree as follows:
SECTION 1. Purpose of the Disclosure Agreement. This Disclosure Agreement
is being executed and delivered by the Issuer and the Trustee for the benefit of the Beneficial
Owners of the Bonds and in order to assist the Participating Underwriter in complying with the
Securities and Exchange Commission, Rule 15c2-12(b)(5).
SECTION 2. Definitions. In addition to the definitions set forth in the
Authorizing Ordinance, which apply to any capitalized term used in this Disclosure Agreement
unless otherwise defined in this Section, the following capitalized terms shall have the following
meanings:
"Annual Report" shall mean any Annual Report provided by the Issuer pursuant to,
and as described in, Sections 3 and 4 of this Disclosure Agreement.
"Beneficial Owner" of a Bond shall mean any person who has or shares the power,
directly or indirectly, to make investment decisions concerning ownership of any Bonds (including
persons holding Bonds through nominees, depositories or other intermediaries).
"Dissemination Agent" shall mean the Trustee, acting in its capacity as
Dissemination Agent hereunder, or any successor Dissemination Agent designated in writing by
the Issuer and which has filed with the Trustee a written acceptance of such designation.
"EMMA" shall mean the Electronic Municipal Market Access system as described
in 1934 Act Release No. 59062 and maintained by the MSRB for purposes of the Rule.
"Financial Obligation" shall mean a
(A)

Debt obligation;

(B)
Derivative instrument entered into in connection with, or pledged as
security or a source of payment for, an existing or planned debt obligation; or
(C)

Guarantee of obligations described in (A) or (B).

The term Financial Obligation shall not include municipal securities as to which a
final official statement has been provided to the MSRB consistent with the Rule.

Page 153 of 185

"Listed Events" shall mean any of the events listed in Section 5(a) of this Disclosure
Agreement.
"MSRB" shall mean the Municipal Securities Rulemaking Board.
"Participating Underwriter" shall mean any of the original underwriters of the
Bonds required to comply with the Rule in connection with offering of the Bonds.
"Rule" shall mean Rule 15c2-12(b)(5) adopted by the Securities and Exchange
Commission under the Securities Exchange Act of 1934, as the same may be amended from time
to time.
"Tax" shall mean, collectively, the sales and use taxes pledged to the Bonds under
the Authorizing Ordinance and levied by the Issuer as follows: one at the rate of 0.5% under
Ordinance No. 22-2025, adopted December 8, 2025, and the second at the rate of 0.5% under
Ordinance No. 24-2025, adopted December 8, 2025.
SECTION 3. Provision of Annual Reports. (a) The Issuer shall, or shall cause
the Dissemination Agent to, not later than 180 days after the end of the Issuer's fiscal year
(presently December 31), commencing with the report after the end of the 2026 fiscal year, provide
to the MSRB, through its continuing disclosure service portal provided through EMMA at
http://www.emma.msrb.org, or any other similar system that is acceptable to the Securities and
Exchange Commission, an Annual Report which is consistent with the requirements of Section 4
of this Disclosure Agreement. The Annual Report shall be in an electronic format as prescribed
by the MSRB and shall be accompanied by identifying information as prescribed by the MSRB.
The Annual Report may be submitted as a single document or as separate documents comprising
a package, and may cross-reference other information as provided in Section 4 of this Disclosure
Agreement; provided that the Financial Statements (as defined below) may be submitted separately
from the balance of the Annual Report and later than the date required above for the filing of the
Annual Report if they are not available by that date, but, in such event, such Financial Statements
shall be submitted within 30 days after receipt thereof by the Issuer. If the fiscal year of the Issuer
changes, the Issuer shall give notice of such change in the same manner as for a Listed Event.
(b)
Not later than fifteen (15) days prior to the date specified in subsection (a)
for providing the Annual Report to the MSRB, the Issuer shall provide the Annual Report to the
Dissemination Agent and the Trustee (if the Trustee is not the Dissemination Agent). If by such
date, the Trustee has not received a copy of the Annual Report, the Trustee shall contact the Issuer
and the Dissemination Agent to determine if the Issuer is in compliance with the first sentence of
this subsection (b).
(c)
If the Trustee is unable to verify that an Annual Report (containing the
information required in 1 of Section 4 of this Disclosure Agreement) has been provided to the
MSRB by the date required for such part in subsection (a), the Trustee shall send a notice to the
MSRB.

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(d)
The Dissemination Agent shall file a report with the Issuer and (if the
Dissemination Agent is not the Trustee) the Trustee certifying that the Annual Report (containing
the information required in 1 of Section 4 of this Disclosure Agreement) has been provided
pursuant to this Disclosure Agreement and stating the date it was provided.
SECTION 4. Content of Annual Reports.
contain or incorporate by reference the following:
1.

The Issuer's Annual Report shall

Tax receipts for the latest calendar year and the four (4) previous years, if

available.
2.
The annual financial statements of the general fund of the Issuer, which (a)
need not be audited in accordance with auditing standards generally accepted in the United States
of America, (b) shall be prepared using accounting principles prescribed by Arkansas Code
Annotated Section 10-4-412, as it may be amended from time to time, or any successor statute and
(c) shall be presented in a financial audit, performance audit, information technology audit, review,
report of agreed-upon procedures, compilation, examination, investigation, or other report or
procedure approved by the Arkansas Legislative Join Auditing Committee in accordance with, and
as required by, Arkansas law (the "Financial Statements").
Any or all of the items above may be incorporated by reference from other
documents, including official statements of debt issues of the Issuer or related public entities,
which are available to the public on the MSRB's website or filed with the Securities and Exchange
Commission. The Issuer shall clearly identify each such other document so incorporated by
reference.
SECTION 5. Reporting of Listed Events.
(a)
This Section 5 shall govern the giving of notices of the occurrence of any
of the following events:
1.

Principal and interest payment delinquencies.

Non-payment related defaults, if material.

Unscheduled draws on debt service reserves reflecting financial difficulties.

Unscheduled draws on credit enhancements reflecting financial difficulties.

Substitution of credit or liquidity providers, or their failure to perform.

6.
Adverse tax opinions, the issuance by the Internal Revenue Service of
proposed or final determinations of taxability, Notices of Proposed Issue (IRS Form 5701-TEB)
or other material notices or determinations with respect to the tax status of the security, or other
material events affecting the tax-exempt status of the security.

Page 155 of 185

Modifications to rights of security holders, if material.

Bond calls (excluding mandatory sinking fund redemptions), if material.

Defeasances and tender offers.

10.
Release, substitution, or sale of property securing repayment of the
securities, if material.
11.

Rating changes.

12.

Bankruptcy, insolvency, receivership or similar event of the Issuer.

13.
The consummation of a merger, consolidation or acquisition involving the
Issuer or the sale of all or substantially all of the assets of the Issuer, other than in the ordinary
course of business, the entry into a definitive agreement to undertake such action or the termination
of a definitive agreement relating to any such actions, other than pursuant to its terms, if material.
14.
Appointment of a successor or additional trustee or the change of name of
a trustee, if material.
15.
Incurrence of a Financial Obligation of the Issuer, if material, or agreement
to covenants, events of default, remedies, priority rights, or other similar terms of a Financial
Obligation of the Issuer, any of which affect security holders, if material.
16.
Default, event of acceleration, termination event, modification of terms, or
other similar events under the terms of a Financial Obligation of the Issuer, any of which reflect
financial difficulties.
(b)
After the occurrence of a Listed Event (excluding an event described in (a)8
above), the Issuer shall promptly notify the Dissemination Agent (if other than the Issuer) in
writing. Such notice shall instruct the Dissemination Agent to report the occurrence.
(c)
After the occurrence of a Listed Event (excluding an event described in (a)8
above), whether by notice from the Trustee or otherwise, the Issuer shall file (or cause the
Dissemination Agent to file), in a timely manner not in excess of ten (10) business days after the
occurrence of such Listed Event, a notice of such occurrence with the MSRB, through its
continuing disclosure service portal provided through EMMA at http://www.emma.msrb.org or
any other similar system that is acceptable to the Securities and Exchange Commission, with a
copy to the Trustee (if the Trustee is not the Dissemination Agent). Each notice of the occurrence
of a Listed Event shall be captioned "Notice of Listed Event" and shall be filed in electronic format
as prescribed by the MSRB and shall be accompanied by identifying information as prescribed by
the MSRB. In the event of a Listed Event described in (a)8 above, the Trustee shall make the
filing in a timely manner not in excess of ten (10) business days after the occurrence of such Listed
Event.

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SECTION 6. Termination of Reporting Obligation. The Issuer's obligations
under this Disclosure Agreement shall terminate upon the defeasance, prior redemption or payment
in full of all the Bonds.
SECTION 7. Dissemination Agent. The Issuer may, from time to time, appoint
or engage a Dissemination Agent to assist it in carrying out its obligations under this Disclosure
Agreement, and may discharge any such Dissemination Agent, with or without appointing a
successor Dissemination Agent. The Dissemination Agent shall not be responsible in any manner
for the content of any notice or report prepared by the Issuer pursuant to this Disclosure
Agreement. If at any time there is not any other designated Dissemination Agent, the Trustee shall
be the Dissemination Agent. The initial Dissemination Agent shall be the Trustee.
SECTION 8. Amendment; Waiver. Notwithstanding any other provision of this
Disclosure Agreement, the Issuer and the Trustee may amend this Disclosure Agreement, and any
provisions of this Disclosure Agreement may be waived, provided that the following conditions
are satisfied:
(a)
If the amendment or waiver relates to the provisions of Sections 3(a), 4, or
5, it may only be made in connection with a change in circumstances that arises from a change in
legal requirements, change in law, or change in the identity, nature or status of the Issuer with
respect to the Bonds, or the type of business conducted;
(b)
The undertaking, as amended or taking into account such waiver, would, in
the opinion of nationally recognized bond counsel, have complied with the requirements of the
Rule at the time of the original issuance of the Bonds, after taking into account any amendments
or interpretations of the Rule, as well as any change in circumstances; and
(c)
The amendment or waiver either (i) is approved by the Beneficial Owners
of the Bonds in the same manner as provided in the Authorizing Ordinance for amendments to the
Authorizing Ordinance with the consent of Beneficial Owners, or (ii) does not, in the opinion of
the Trustee, materially impair the interests of the Beneficial Owners of the Bonds.
In the event of any amendment or waiver of a provision of this Disclosure
Agreement, the Issuer shall describe such amendment in the next Annual Report, and shall include,
as applicable, a narrative explanation of the reason for the amendment or waiver and its impact on
the type (or in the case of a change of accounting principles, on the presentation) of financial
information or operating data being presented by the Issuer. In addition, if the amendment relates
to the accounting principles to be followed in preparing financial statements, (i) notice of such
change shall be given in the same manner as for a Listed Event under Section 5(c), and (ii) the
Annual Report for the year in which the change is made should present a comparison (in narrative
form and also, if feasible, in quantitative form) between the financial statements as prepared on
the basis of the new accounting principles and those prepared on the basis of the former accounting
principles.

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SECTION 9. Additional Information. Nothing in this Disclosure Agreement shall
be deemed to prevent the Issuer from disseminating any other information, using the means of
dissemination set forth in this Disclosure Agreement or any other means of communication, or
including any other information in any Annual Report or notice of occurrence of a Listed Event,
in addition to that which is required by this Disclosure Agreement. If the Issuer chooses to include
any information in any Annual Report or notice of occurrence of a Listed Event in addition to that
which is specifically required by this Disclosure Agreement, the Issuer shall have no obligation
under this Disclosure Agreement to update such information or include it in any future Annual
Report or notice of occurrence of a Listed Event.
SECTION 10. Default. In the event of a failure of the Issuer or the Trustee to
comply with any provision of this Disclosure Agreement, the Trustee, the Issuer or any Beneficial
Owner may (and the Trustee, at the request of the Participating Underwriter or the Beneficial
Owners of at least 25% aggregate principal amount of outstanding Bonds, shall) take such actions
as may be necessary and appropriate, including seeking mandamus or specific performance by
court order, to cause the Issuer, the Dissemination Agent or the Trustee, as the case may be, to
comply with its obligations under this Disclosure Agreement. A default under this Disclosure
Agreement shall not be deemed a default under the Authorizing Ordinance, and the sole remedy
under this Disclosure Agreement in the event of any failure of the Issuer, the Dissemination Agent
or the Trustee to comply with this Disclosure Agreement shall be an action to compel performance.
SECTION 11. Duties of Trustee and Dissemination Agent and Right of Indemnity.
The Dissemination Agent (if other than the Trustee) and the Trustee in its capacity as
Dissemination Agent shall have only such duties as are specifically set forth in this Disclosure
Agreement, and the Issuer agrees to indemnify and save the Dissemination Agent and the Trustee,
their officers, directors, employees and agents, harmless against any loss, expense and liabilities
which they may incur arising out of or in the exercise or performance of their powers and duties
hereunder, including the costs and expenses (including attorney's fees) of defending against any
claim of liability, but excluding liabilities due to the Dissemination Agent's or the Trustee's gross
negligence or willful misconduct. The obligations of the Issuer under this Section shall survive
resignation or removal of the Trustee or the Dissemination Agent and payment of the Bonds.
SECTION 12. Beneficiaries. This Disclosure Agreement shall inure solely to the
benefit of the Issuer, the Trustee, the Dissemination Agent, the Participating Underwriter and the
Beneficial Owners and shall create no rights in any other person or entity.
SECTION 13. Counterparts. This Disclosure Agreement may be executed in
several counterparts, each of which shall be an original and all of which shall constitute but one
and the same instrument.

Page 158 of 185

Dated: December 7, 2026.
CITY OF VAN BUREN, ARKANSAS
By _________________________________
Mayor
CITIZENS BANK & TRUST CO.
By _________________________________
Authorized Officer

Page 159 of 185

This Preliminary Official Statement and the information contained herein are subject to completion or amendment without notice. Under no circumstances shall this Preliminary Official Statement constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities
laws of any such jurisdiction.

PRELIMINARY OFFICIAL STATEMENT DATED OCTOBER 19, 2026
NEW ISSUE
BOOK-ENTRY ONLY

RATING: S&P: A+ (stable outlook)

In the opinion of Bond Counsel, based on existing statutes, regulations, rulings and court decisions, the interest on the Bonds is excludable from
gross income for federal income tax purposes under Section 103 of the Internal Revenue Code of 1986, as amended (the "Code"), subject to the
condition that the City comply with all requirements of the Code that must be satisfied subsequent to the issuance of the Bonds, and the Bonds and
interest thereon are exempt from all Arkansas state, county and municipal taxes. In the opinion of Bond Counsel, interest on the Bonds is not an
item of tax preference for purposes of the federal alternative minimum tax imposed on individuals; however, such interest on the Bonds may be
taken into account for the purpose of computing the alternative minimum tax imposed on certain corporations. See LEGAL MATTERS, Tax
Exemption herein.

$45,000,000*
CITY OF VAN BUREN, ARKANSAS
SALES AND USE TAX BONDS
SERIES 2026
Dated: Date of Delivery

Due: December 1, as shown below

Principal of and interest on the Bonds are payable from a pledge of receipts derived by the City of Van Buren, Arkansas (the
"City") from sales and use taxes levied by the City at an aggregate rate of 1%. Interest on the Bonds is payable semiannually
on June 1 and December 1 in each year, commencing June 1, 2027 and the Bonds mature (on December 1 of each year),
bear interest and are priced to yield as follows:
MATURITY SCHEDULE*
$8,330,000 Serial Bonds
Maturity
2027
2028
2029
2030
2031

Amount
$545,000
710,000
740,000
775,000
820,000

Rate (%)

Yield(%)

Maturity
2032
2033
2034
2035
2036

Amount
$ 855,000
900,000
945,000
995,000
1,045,000

Rate(%)

Yield(%)

$ 6,060,000 _____% Term Bonds due December 1, 2041 to Yield _____%
$ 7,750,000 _____% Term Bonds due December 1, 2046 to Yield _____%
$ 9,975,000 _____% Term Bonds due December 1, 2051 to Yield _____%
$12,885,000 _____% Term Bonds due December 1, 2056 to Yield _____%
The Bonds of each maturity will be initially issued as a single registered bond registered in the name of Cede & Co., the
nominee of The Depository Trust Company ("DTC"), New York, New York. The Bonds will be available for purchase in
book-entry form only, in denominations of $5,000 or any integral multiple thereof. Except in limited circumstances
described herein, purchasers of the Bonds will not receive physical delivery of Bonds. Payments of principal of and interest
on the Bonds will be made by Citizens Bank & Trust Co., Van Buren, Arkansas, as the Trustee, directly to Cede & Co., as
nominee for DTC, as registered owner of the Bonds, to be subsequently disbursed to DTC Participants and thereafter to the
Beneficial Owners of the Bonds, all as further described herein.
The Bonds are offered, subject to prior sale, when, as and if issued and received by the Underwriter named below, subject
to the approval of legality by Friday, Eldredge & Clark, LLP, Little Rock, Arkansas, Bond Counsel, and subject to certain
other conditions.
This cover page contains information for quick reference only. It is not a summary of the issue. Investors must read the
entire Official Statement to obtain information essential to the making of an informed investment decision.

Dated: ______________, 2026.
* Preliminary; subject to change.

Page 160 of 185

No dealer, broker, salesman or other person has been authorized by the City or the Underwriter to give
any information or to make any representations, other than those contained in this Official Statement,
and, if given or made, such other information or representations must not be relied upon as having been
authorized by any of the foregoing. This Official Statement does not constitute an offer to sell or other
solicitation of an offer to buy, nor shall there be any sale of the Bonds by any persons in any state in
which it is unlawful for such person to make such offer, solicitation or sale. The information and
expressions of opinion herein are subject to change without notice, and neither the delivery of this
Official Statement nor any sale made hereunder shall under any circumstances create any implication
that there has been no change in the affairs of the City since the date hereof.
TABLE OF CONTENTS
INTRODUCTION TO OFFICIAL STATEMENT

THE BONDS

Book-Entry Only System
Generally
Redemption
Purposes for Bonds
Security

2
4
5
6
7

THE CITY AND THE COUNTY

Generally
Population
Transportation
Government
Medical Facilities
Education
Financial Institutions
Economy
Litigation
County Economic Data

8
8
8
8
8
8
9
9
9
9

THE TAXES

Generally
Administration
Historical Tax Receipts
Future Tax Receipts

10
10
11
11

THE AUTHORIZING ORDINANCE

The Revenue Fund
The Bond Fund
Investments
Certain Covenants
Defaults and Remedies
Defeasance
No Parity Bonds
The Trustee
Supplemental Ordinances

12
13
13
14
14
15
16
16
16

Page 161 of 185

CONTINUING DISCLOSURE AGREEMENT

Past Compliance
Purpose of the Continuing Disclosure Agreement
Definitions
Provision of Annual Report
Content of Annual Report
Reporting of Listed Events
Termination of Reporting Obligation
Dissemination Agent
Amendment; Waiver
Additional Information
Default
Duties of Trustee and Dissemination Agent and Right of Indemnity
Beneficiaries

17
17
17
18
18
19
20
20
20
21
21
21
21

DEBT SERVICE COVERAGE

DEBT SERVICE REQUIREMENTS

LEGAL MATTERS

Legal Proceedings
Legal Opinions
Tax Exemption

24
24
24

MISCELLANEOUS

Underwriting
Rating
Enforceability of Remedies
Information in Official Statement

25
26
26
26

EXHIBIT A - Summary of State Sales and Use Tax Provisions for Local Government

Page 162 of 185

OFFICIAL STATEMENT
$45,000,000*
CITY OF VAN BUREN, ARKANSAS
SALES AND USE TAX BONDS
SERIES 2026
INTRODUCTION TO OFFICIAL STATEMENT
This Introduction is subject in all respects to the more complete information contained in this Official
Statement. The offering of the bonds to potential investors is made only by means of the entire Official
Statement, including the cover page hereof and the exhibit hereto. A full review should be made of
the entire Official Statement, as well as the Authorizing Ordinance described herein.
This Official Statement of the City of Van Buren, Arkansas (the "City") is furnished in connection with
the offering by the City of its $45,000,000* principal amount of Sales and Use Tax Bonds, Series 2026
(the "Bonds"). The Bonds are being issued for the purpose of financing various capital improvements
(collectively, the "Improvements"), funding a debt service reserve and paying expenses of issuing the
Bonds. See THE BONDS, Purposes for Bonds.
The City is a city of the first class duly organized under the laws of the State of Arkansas (the "State")
and is located in Crawford County, Arkansas, which is in northwest Arkansas. The City is authorized
under Amendment No. 62 to the Constitution of the State ("Amendment 62") and Title 14, Chapter
164, Subchapter 3 of the Arkansas Code of 1987 Annotated (the "Authorizing Legislation") to issue
capital improvement bonds and to expend the proceeds thereof for the intended purposes. See THE
CITY AND THE COUNTY.
The Bonds are not general obligations of the City, but are special obligations payable solely from
collections from sales and use taxes (the "Taxes") levied by the City at an aggregate rate of 1%. See
THE TAXES and THE BONDS, Security. The Taxes are levied as follows: one at the rate of 0.5%
under Ordinance No. 24-2025, adopted December 8, 2025, under the authority of the Authorizing
Legislation (the "Bond Tax"); and one at the rate of 0.5% under Ordinance No. 22-2025, adopted
December 8, 2025, under the authority of Title 26, Chapter 75, Subchapter 2 of the Arkansas Code of
1987 Annotated (the "Permanent Tax"). The voters approved the Taxes at a special election held
March 3, 2026. Collections of the Bond Tax may only be used to pay obligations with respect to the
Bonds. Collections of the Permanent Tax may be used (a) to pay and secure the repayment of bonds,
including the Bonds, issued by the City from time to time to finance capital improvements, (b) for park
and recreational purposes and (c) for fire, police and other emergency services purposes.
The issuance of the Bonds and the pledging of the Taxes to the payment of the principal of and interest
on the Bonds was approved at a special election held March 3, 2026. The Bonds are being issued
pursuant to and in full compliance with Amendment 62 and the Authorizing Legislation and Ordinance
No. _________ adopted on ______________, 2026 (the "Authorizing Ordinance"). See THE
AUTHORIZING ORDINANCE.
The Bonds will be initially issued in book-entry form and purchasers of Bonds will not receive
certificates representing their interest in the Bonds purchased. See THE BONDS, Book-Entry Only
System. The Bonds will contain such other terms and provisions as described herein. See THE
BONDS, Generally.
The Bonds are issuable only as fully registered bonds, without coupons, in the denomination of $5,000
or an integral multiple thereof. Interest is payable June 1, 2027 and semiannually thereafter on each
June 1 and December 1. Unless the Bonds are in book-entry form, payment of principal of the Bonds
will be made to the owners of the Bonds at the principal office of Citizens Bank & Trust Co., Van
* Preliminary; subject to change.

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Buren, Arkansas, as trustee and paying agent for the Bonds (the "Trustee"). Interest is payable by the
Trustee by check or draft to the registered owners as of the record date for each interest payment date.
The record date for payment of interest on the Bonds shall be the fifteenth day of the calendar month
next preceding each interest payment date. A Bond may be transferred, in whole or in part (in integral
multiples of $5,000), but only upon delivery of the Bond, together with a written instrument of transfer,
to the Trustee. See THE BONDS, Generally.
The Bonds are subject to extraordinary redemption from proceeds of the Bonds not needed for the
purposes intended and from Surplus Bond Tax Receipts (as hereinafter defined). The Bonds are
subject to optional redemption on and after December 1, 2033. The Bonds maturing on December 1
in the years 2041*, 2046*, 2051* and 2056* are subject to mandatory sinking fund redemption as
described herein. The Trustee shall give at least thirty (30) days' notice of redemption. See THE
BONDS, Redemption.
Under existing law and assuming compliance with certain covenants described herein, (i) interest on
the Bonds is excludable from gross income for federal income tax purposes under Section 103 of the
Internal Revenue Code of 1986, as amended (the "Code"), (ii) interest on the Bonds is not an item of
tax preference for purposes of the federal alternative minimum tax imposed on individuals; however,
such interest on the Bonds may be taken into account for the purpose of computing the alternative
minimum tax imposed on certain corporations and (iii) the Bonds and interest thereon are exempt from
all State, county and municipal taxes. See LEGAL MATTERS, Tax Exemption.
It is expected that the Bonds will be available for delivery on or about December 7, 2026, through the
facilities of The Depository Trust Company in New York, New York.
The City and the Trustee will enter into a Continuing Disclosure Agreement in order to assist the
Underwriter in complying with Securities and Exchange Commission Rule 15c2-12(b)(5) (the
"Continuing Disclosure Agreement"). See CONTINUING DISCLOSURE AGREEMENT.
This Official Statement speaks only as of its date, and the information contained herein is subject to
change. Copies of the Authorizing Ordinance and the Continuing Disclosure Agreement summarized
herein are available upon request from Stephens Inc., 111 Center Street, Suite 100, Little Rock,
Arkansas 72201, Attention: Public Finance.
THE BONDS
Book-Entry Only System. The Depository Trust Company ("DTC"), New York, New York, or its
successor, will act as securities depository for the Bonds. The Bonds will each be issued as fullyregistered securities registered in the name of Cede & Co. (DTC’s partnership nominee) or such other
name as may be requested by an authorized representative of DTC. One fully-registered Bond
certificate for each maturity will be issued in the principal amount of the maturity, and will be deposited
with DTC.
DTC is a limited-purpose trust company organized under the New York Banking Law, a "banking
organization" within the meaning of the New York Banking Law, a member of the Federal Reserve
System, a "clearing corporation" within the meaning of the New York Uniform Commercial Code,
and a "clearing agency" registered pursuant to the provisions of Section 17A of the Securities Exchange
Act of 1934. DTC holds securities that its participants ("Direct Participants") deposit with DTC. DTC
also facilitates the post-trade settlement among Direct Participants of sales and other securities
transactions in deposited securities, through electronic computerized book-entry transfers and pledges
between Direct Participants’ accounts. This eliminates the need for physical movement of securities
certificates. Direct Participants include both U.S. and non-U.S. securities brokers and dealers, banks,
trust companies, clearing corporations, and certain other organizations. DTC is a wholly-owned
subsidiary of The Depository Trust & Closing Corporation ("DTCC"). DTCC is the holding company
* Preliminary; subject to change.

Page 164 of 185

for DTC, National Securities Clearing Corporation and Fixed Income Clearing Corporation, all of
which are registered clearing agencies. DTCC is owned by the users of its regulated subsidiaries.
Access to the DTC system is also available to others such as both U.S. and non-U.S. securities brokers
and dealers, banks, trust companies and clearing corporations that clear through or maintain a custodial
relationship with a Direct Participant, either directly or indirectly ("Indirect Participants"). The DTC
Rules applicable to its Participants are on file with the Securities and Exchange Commission. More
information about DTC can be found at www.dtcc.com.
Purchases of Bonds under the DTC system must be made by or through Direct Participants, which will
receive a credit for the Bonds on DTC’s records. The ownership interest of each actual purchaser of
each Bond (referred to herein as "Beneficial Owner") is in turn to be recorded on the Direct and Indirect
Participants’ records. Beneficial Owners will not receive written confirmation from DTC of their
purchase. Beneficial Owners are, however, expected to receive written confirmations providing details
of the transaction, as well as periodic statements of their holdings, from the Direct or Indirect
Participant through which the Beneficial Owner entered into the transaction. Transfers of ownership
interests in the Bonds are to be accomplished by entries made on the books of Participants acting on
behalf of Beneficial Owners. Beneficial Owners will not receive certificates representing their
ownership interest in Bonds, except in the event that use of the book-entry system for the Bonds is
discontinued.
To facilitate subsequent transfers, all Bonds deposited by Direct Participants with DTC are registered
in the name of DTC’s partnership nominee, Cede & Co. or such other name as may be requested by
an authorized representative of DTC. The deposit of Bonds with DTC and their registration in the
name of Cede & Co. or such other DTC nominee do not effect any change in beneficial ownership.
DTC has no knowledge of the actual Beneficial Owners of the Bonds; DTC’s records reflect only the
identity of the Direct Participants to whose accounts such Bonds are credited, which may or may not
be the Beneficial Owners. Direct and Indirect Participants will remain responsible for keeping account
of their holdings on behalf of their customers.
Conveyance of notices and other communications by DTC to Direct Participants, by Direct
Participants to Indirect Participants and by Direct Participants and Indirect Participants to Beneficial
Owners will be governed by arrangements among them, subject to any statutory or regulatory
requirements as may be in effect from time to time.
Redemption notices will be sent to Cede & Co. If fewer than all of the Bonds are being redeemed,
DTC’s practice is to determine by lot the amount of the interest of each Direct Participant to be
redeemed.
Neither DTC nor Cede & Co. (nor any other DTC nominee) will consent or vote with respect to the
Bonds unless authorized by a Direct Participant in accordance with DTC’s MMI Procedures. Under
its usual procedures, DTC mails an Omnibus Proxy to the City as soon as possible after the record
date. The Omnibus Proxy assigns Cede & Co.’s consenting or voting rights to those Direct Participants
to whose accounts the Bonds are credited on the record date (identified in a listing attached to the
Omnibus Proxy).
Principal, interest and premium, if any, payments on the Bonds will be made to Cede & Co., or such
other nominee as may be requested by an authorized representative of DTC. DTC’s practice is to
credit Direct Participants’ accounts upon DTC’s receipt of funds and corresponding detail information
from the City or the Trustee, on the payable date in accordance with their respective holdings shown
on DTC’s records. Payments by Participants to Beneficial Owners will be governed by standing
instructions and customary practices, as is the case with securities held for the accounts of customers
in bearer form or registered in "street name," and will be the responsibility of such Participant and not
of DTC, the Trustee, or the City, subject to any statutory or regulatory requirements as may be in effect
from time to time. Payment of principal, interest and premium, if any, to Cede & Co. (or such other
nominee as may be requested by an authorized representative of DTC) is the responsibility of the
Trustee, disbursement of such payments to Direct Participants will be the responsibility of DTC, and
3

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disbursement of such payments to the Beneficial Owners shall be the responsibility of Direct and
Indirect Participants.
DTC may discontinue providing its services as securities depository with respect to the Bonds at any
time by giving reasonable notice to the City or the Trustee. Under such circumstances, in the event
that a successor securities depository is not obtained, Bonds are required to be printed and delivered.
The City may decide to discontinue use of the system of book-entry transfers through DTC (or a
successor securities depository). In that event, Bonds will be printed and delivered.
The information concerning DTC and DTC’s book-entry system set forth above has been obtained
from DTC. Neither the Underwriter nor the City make any representation or warranty regarding the
accuracy or completeness thereof.
So long as the Bonds are in book-entry only form, Cede & Co., as nominee for DTC, will be
treated as the sole owner of the Bonds for all purposes under the Authorizing Ordinance,
including receipt of all principal of and interest on the Bonds, receipt of notices, voting and
requesting or directing the Trustee to take or not to take, or consenting to, certain actions under
the Authorizing Ordinance. The City and the Trustee have no responsibility or obligation to the
Participants or the Beneficial Owners with respect to (a) the accuracy of any records maintained
by DTC or any Participant; (b) the payment by any Participant of any amount due to any
Beneficial Owner in respect of the principal of and interest on the Bonds; (c) the delivery or
timeliness of delivery by any Participant of any notice to any Beneficial Owner which is required
or permitted under the terms of the Authorizing Ordinance to be given to owners of Bonds; or
(d) other action taken by DTC or Cede & Co. as owner of the Bonds.
Generally. The Bonds are dated, mature and bear interest as set forth on the cover page hereof. The
principal of the Bonds is payable upon presentation and surrender at the principal office of the Trustee.
Payment of interest on the Bonds will be made to each registered owner thereof by the Trustee by
check or draft to such owner at his address as such name and address appear on the registration book
of the City kept by the Trustee on the record date which is the fifteenth day of the calendar month next
preceding the calendar month in which such interest payment date falls. All such payments will be
made in lawful money of the United States of America.
The Bonds are issuable in the form of registered Bonds without coupons in the denomination of $5,000
each or any integral multiple thereof, interchangeable in accordance with the provisions of the
Authorizing Ordinance. In the event any Bond is mutilated, lost or destroyed, the City shall, if not then
prohibited by law, execute and the Trustee may authenticate a new Bond in accordance with the
provisions therefor in the Authorizing Ordinance.
Each Bond is transferable by the registered owner thereof or by his attorney duly authorized in writing
at the principal office of the Trustee. Upon such transfer a new fully registered Bond or Bonds of the
same maturity, of authorized denomination or denominations, for the same aggregate principal amount
will be issued to the transferee in exchange therefor.
No charge shall be made to any owner of any Bond for the privilege of registration, but any owner of
any Bond requesting any such registration shall pay any tax or other governmental charge required to
be paid with respect thereto. Except as otherwise provided in the immediately preceding sentence, the
cost of preparing each new Bond upon each exchange or transfer and any other expenses of the City
or the Trustee incurred in connection therewith shall be paid by the City. Neither the City nor the
Trustee shall be required to transfer or exchange any Bonds selected for redemption in whole or in
part.
The person in whose name any Bond shall be registered shall be deemed and regarded as the absolute
owner thereof for all purposes, and payment of or on account of the principal or interest of any Bond
shall be made only to or upon the order of the registered owner thereof or his legal representative, but

Page 166 of 185

such registration may be changed as hereinabove provided. All such payments shall be valid and
effectual to satisfy and discharge the liability upon such Bond to the extent of the sum or sums so paid.
In any case where the date of maturity of interest on or principal of the Bonds or the date fixed for
redemption of any Bonds shall be a Saturday or Sunday or shall be in the State a legal holiday or a day
on which banking institutions are authorized by law to close, then payment of interest or principal need
not be made on such date but may be made on the next succeeding business day with the same force
and effect as if made on the date of maturity or the date fixed for redemption, and no interest shall
accrue for the period after the date of maturity or date fixed for redemption.
Redemption. The Bonds are subject to extraordinary, optional and mandatory sinking fund redemption
prior to maturity as follows:
(1)
Extraordinary Redemption. The Bonds shall be redeemed from Surplus Bond Tax
Receipts (hereinafter defined) and from proceeds of the Bonds not needed for the purposes intended,
in inverse order of maturity (and by lot within a maturity in such manner as the Trustee shall
determine), in whole at any time or in part on any interest payment date, at a redemption price equal to
the principal amount being redeemed plus accrued interest to the redemption date.
"Surplus Bond Tax Receipts" are collections of the Bond Tax in excess of the amount necessary to (a)
ensure the prompt payment of the principal, interest on and Trustee’s fees and expenses and other
administrative charges in connection with the Bonds, (b) maintain the debt service reserve in the
required amount and (c) pay any arbitrage rebate due under Section 148(f) of the Code.
In case of any defeasance of the Bonds, redemption of defeased Bonds shall be scheduled on the basis
of mandatory redemption requirements and assuming annual collections of the Bond Tax in an amount
equal to receipts for the most recent twelve-month period.
Based upon the collections of the Existing 1% Tax (hereinafter identified under THE TAXES,
Historical Tax Receipts) for the twelve-month period ended September 30, 2026, the City estimates
that receipts of the Bond Tax will approximate $2,886,652 annually for the life of the issue. Assuming
receipts of the Bond Tax do not increase over the life of the Bonds, the City does not anticipate having
more than $5,000 in Surplus Bond Tax Receipts available annually to redeem the Bonds. The debt
service reserve shall be used as part of the Surplus Bond Tax Receipts for the purpose of making the
final principal and interest payment on the Bonds, whether at maturity or at redemption prior to
maturity.
(2)
Optional Redemption. The Bonds are subject to redemption at the option of the City,
from funds from any source, on and after December 1, 2033, in whole or in part at any time, at a
redemption price equal to the principal amount being redeemed plus accrued interest to the redemption
date. If fewer than all of the Bonds shall be called for redemption, the particular maturities to be
redeemed shall be selected by the City in its discretion. If fewer than all of the Bonds of any one
maturity shall be called for redemption, the particular Bonds or portion thereof to be redeemed from
such maturity shall be selected by lot by the Trustee.
(3)
Mandatory Sinking Fund Redemption.* To the extent not previously redeemed, the
Bonds maturing on December 1 in the years 2041, 2046, 2051 and 2056 are subject to mandatory
sinking fund redemption by lot in such manner as the Trustee shall determine, on December 1 in the
years and in the amounts set forth below, at a redemption price equal to the principal amount being
redeemed plus accrued interest to the date of redemption:

* Preliminary; subject to change.

Page 167 of 185

Bonds Maturing December 1, 2041
Year
2037
2038
2039
2040
2041 (maturity)

Principal Amount
$1,095,000
1,150,000
1,210,000
1,270,000
1,335,000

Bonds Maturing December 1, 2046
Year
2042
2043
2044
2045
2046 (maturity)

Principal Amount
$1,400,000
1,475,000
1,545,000
1,625,000
1,705,000

Bonds Maturing December 1, 2051
Year
2047
2048
2049
2050
2051 (maturity)

Principal Amount
$1,795,000
1,890,000
1,990,000
2,095,000
2,205,000

Bonds Maturing December 1, 2056
Year
2052
2053
2054
2055
2056 (maturity)

Principal Amount
$2,320,000
2,440,000
2,570,000
2,705,000
2,850,000

In the case of any redemption of Bonds prior to maturity, the Trustee shall mail, or send via other
acceptable standard means, including facsimile or electronic communication, a copy of the redemption
notice to the registered owners of the Bonds to be redeemed, in each case not less than 30 nor more
than 60 days prior to the date of redemption. After the date for redemption no further interest shall
accrue on any Bond called for redemption if funds for redemption of such Bond have been deposited
with the Trustee as provided in the Authorizing Ordinance.
Notwithstanding the above, so long as the Bonds are issued in book-entry only form, if fewer than all
the Bonds of an issue are called for redemption, the particular Bonds to be redeemed will be selected
pursuant to the procedures established by DTC. So long as the Bonds are issued in book-entry only
form, notice of redemption will be given only to Cede & Co., as nominee for DTC. The Trustee will
not give any notice of redemption to the Beneficial Owners of the Bonds.
Purposes for Bonds. At the special election held March 3, 2026, the issuance of the Bonds in the
maximum aggregate principal amount of $45,000,000 was approved for the following purposes:
(a)

financing all or a portion of the costs of new park and recreational facilities, including
particularly, without limitation, a community center with swimming facilities,
pickleball, basketball and volleyball courts, a walking track and meeting rooms and
any furnishings, equipment and parking, landscaping, signage, drainage, lighting, street
6

Page 168 of 185

and utility improvements related thereto (the "Park and Recreational Improvements")
- $36,800,000; and
(b)

financing all or a portion of the costs of new facilities and apparatus for the fire
department, including particularly, without limitation, a fire station and any
furnishings, equipment and parking, landscaping, signage, drainage, lighting, street and
utility improvements related thereto (the "Fire Improvements") - $8,200,000.

The principal amount of the Bonds is allocated as follows: $36,800,000* for the Park and Recreational
Improvements and $8,200,000* for the Fire Improvements. The Improvements are expected to be
completed by May 31, 2029.
The sources and uses of funds to accomplish the Improvements are estimated by the City as follows:
SOURCES:*
Principal Amount of Bonds
Net Original Issue Discount

$45,000,000
(644,924)

Total Sources

$44,355,076

USES:*
Costs of Improvements
Debt Service Reserve
Costs of Issuance and
Underwriter's Discount

$42,165,382
1,500,294
689,400

Total Uses

$44,355,076

The payment of Underwriter’s discount and the fee of Bond Counsel will be contingent on the Bonds
being issued. See MISCELLANEOUS, Underwriting for a description of the Underwriter’s discount.
The City will deposit the net proceeds of the Bonds (principal amount plus any original issue premium
and less any original issue discount, Underwriter's discount, debt service reserve deposit, and certain
issuance costs) into two construction funds established with the Trustee (each, a "Construction Fund"
and collectively, the "Construction Fund"). Moneys contained in the Construction Fund will be
disbursed by the City solely in payment of costs of the Improvements, paying necessary expenses
incidental thereto and paying expenses of issuing the Bonds. Each Construction Fund will be
designated to reflect the purpose, e.g., Park and Recreational Construction Fund, and will have
deposited therein a pro rata portion of the Bond proceeds based upon principal amount. Moneys in
each Construction Fund shall be used only for the specific Improvements related thereto.
Disbursements shall be on the basis of requisitions which shall contain at least the following
information: the person to whom payment is being made; the amount of the payment; and the purpose
by general classification of the payment. For a description of how the Bond proceeds are to be invested
pending use and the provisions governing those investments, see THE AUTHORIZING
ORDINANCE, Investments.
Security. The Bonds are not general obligations of the City but are special obligations, secured by a
first and prior pledge of collections of the Taxes ("Tax receipts"). Tax receipts from the Bond Tax will
be used to pay the scheduled principal of and interest on the Bonds, redeem Bonds prior to maturity,
maintain a debt service reserve, pay arbitrage rebate due under Section 148(f) of the Code and pay
Trustee’s fees and expenses and other administrative charges in connection with the Bonds
(collectively, the "Bond Payments"). Tax receipts from the Permanent Tax will be used first, if
necessary, to make the Bond Payments and second, for park and recreational purposes and for fire,
police and other emergency services purposes (the "Permanent Tax Uses"). The Bonds are secured
* Preliminary; subject to change.

Page 169 of 185

under the Authorizing Ordinance. For a summary of the terms of the Authorizing Ordinance, see THE
AUTHORIZING ORDINANCE.
A debt service reserve will be maintained in the Bond Fund in an amount equal to one-half of the
maximum annual debt service requirement on the Bonds. See THE AUTHORIZING
ORDINANCE, The Bond Fund. The debt service reserve will be funded with Bond proceeds.
THE CITY AND THE COUNTY
Generally. The City is located in Crawford County, Arkansas (the "County"), which is in the
northwestern part of the State. The City is situated approximately 160 miles northwest of Little Rock,
Arkansas and approximately 130 miles east of Tulsa, Oklahoma.
Population. Resident population in the City and the County has been as follows:
Year
1980
1990
2000
2010
2020
2025*

City
12,020
14,979
18,986
22,791
23,218
24,556

County
36,982
42,493
53,247
61,948
60,133
62,657

___________
* Estimate as of July 1.

Transportation. The City is served by Interstate 40, Interstate 540, U.S. Highways 64 and 71 and State
Highways 64 and 71.
The City is also served by the Fort Smith Regional Airport, which is 5 miles away in Fort Smith,
Arkansas. Five Rivers is an intermodal port facility on the Arkansas River close to the City. Five
Rivers is served by the Union Pacific and A&M Railroads.
Government. The City has the Mayor-City Council form of government. The Mayor serves a fouryear term while members of the City Council serve two-year terms. The current Mayor and City
Council Members of the City, their principal occupations, and the dates their terms expire are as
follows:
Name
Joseph P. Hurst
Mike Kneeland
Madison Simmons
Shannon Newerth-Henson
Matt Dodson
Tyler Wood
Tonia Fry

Occupation
Mayor
Retired
Children's Minister
Business Development
Business Management
Pharmacist
Sales

Term Expires
December 31, 2026
December 31, 2026
December 31, 2026
December 31, 2026
December 31, 2026
December 31, 2026
December 31, 2026

Medical Facilities. The City is served by Baptist Health-Van Buren, which has 103 licensed beds.
Education. Primary and secondary education for the City’s inhabitants are provided by a public school
system which is fully accredited by the North Central Association of Secondary Schools and Colleges.
The University of Arkansas at Fort Smith is located five miles away in Fort Smith, Arkansas. The
University of Arkansas at Fayetteville is located approximately 60 miles away in Fayetteville,
Arkansas.

Page 170 of 185

Financial Institutions. The City is served by Citizens Bank & Trust Co., which has its principal office
in the City. Arvest Bank, Bank OZK, Cadence Bank, Centennial Bank, Chambers Bank, Firstar Bank,
Generations Bank and Today's Bank also have branches in the City.
Economy. The economy of the City is a mixture of industry, agriculture and commercial trade. Set
forth below are the characteristics of the major employers in the City (with 200 or more employees):
Company
Simmons Foods
Van Buren School District
Bekaert
Pepper Source
Walmart

Approximate
Number of Employees
1,700
750
415
325
320

Product or Service
Poultry Products
Education
Steel Wire Manufacturing
Food Manufacturing
Retail

Litigation. There is no material litigation pending or threatened against the City.
County Economic Data. Per capita personal income estimates for the County are as follows:(1)
Per Capita
Personal Income
$38,151
41,845
41,931
43,422
45,258

Year
2020
2021
2022
2023
2024

Total personal income estimates for the County are as follows: (1)
Total
Personal Income
$2,295,161,000
2,526,686,000
2,561,313,000
2,683,891,000
2,817,645,000

Year
2020
2021
2022
2023
2024

Set forth below are the annual average unemployment rates for the County and State since 2021
according to the Arkansas Department of Workforce Services:

Year
2021
2022
2023
2024
2025
2026*

City
3.5
3.0
3.2
3.5
4.1
4.3

Annual Average
Unemployment Rate (%)
County
3.6
3.1
3.3
3.6
4.3
4.5

___________
* Preliminary as of June 2026.

(1)

Source: U.S. Bureau of Economic Analysis.

State
4.0
3.2
3.2
3.5
4.1
4.3

Page 171 of 185

THE TAXES
Generally. The Taxes are levied as follows: the Permanent Tax under Ordinance No. 22-2025, adopted
December 8, 2025, under the authority of Title 26, Chapter 75, Subchapter 2 of the Arkansas Code of
1987 Annotated; and the Bond Tax under Ordinance No. 24-2025 adopted December 8, 2025, under
the authority of the Authorizing Legislation. The Taxes are taxes within the City on all items which
are subject to taxation under The Arkansas Gross Receipts Act of 1941 and a tax on the receipts from
storing, using or consuming tangible personal property under The Arkansas Compensating (Use) Tax
Act of 1949. Pursuant to the Authorizing Ordinance, the City has pledged the Tax receipts to the
payment of the Bonds. The Taxes became effective on July 1, 2026.
The Streamline Sales and Use Tax Agreement ("Streamline") has been adopted by Arkansas and
became effective on January 1, 2008. Streamline amended Arkansas sales and use tax law to allow
the State to collect sales and use taxes from internet sales from vendors outside the State. Streamline
limits the collection of the local sales and use tax on the first $2,500 of sales proceeds only on the
following sales: motor vehicles, aircraft, watercraft, modular homes, manufactured homes or mobile
homes. There is no limit of the amount of local sales and use tax to be paid on all other items. The
State allows businesses, nonprofits and governmental entities to file for a credit or rebate on a local
sales and use tax if the amount on an invoice totals more than $2,500 on certain qualified purchases.
Claims for credit or rebates must be filed with the Arkansas Department of Finance and Administration
("DF&A") within one year from the date of purchase or one year from the date of payment, if later.
DF&A will then cause the State Treasurer to withhold the amount of the refund from future
disbursements to the local government levying the sales and use tax.
Pursuant to Arkansas Code Annotated § 26-52-444, the State has created an annual sales tax holiday
in which clothing (which are less than $100 per item), clothing accessories or equipment (which are
less than $50 per item), electronic devices, school art supplies, school instructional materials and school
supplies are exempt from taxation under The Arkansas Gross Receipts Tax Act of 1941. The annual
sales tax holiday is from 12:01 a.m. on the first Saturday in August until 11:59 p.m. the following
Sunday.
Set forth in Exhibit A attached hereto is a summary of certain provisions of the statutes authorizing the
Taxes. The summary does not purport to be complete statements of the laws. Reference is made to
the Arkansas Code Annotated §§26-52-101 et seq. and 26-53-101 et seq. for the full text and complete
descriptions of such provisions.
Administration. The Commissioner of Revenues of the State (the "Commissioner") performs all
functions incidental to the administration, collection, enforcement and operation of the Taxes. All Tax
receipts collected, less certain charges payable and retainage due the Commissioner for administrative
services in the amount of 3% of the gross Tax receipts, shall be remitted by the State Treasurer to the
Trustee monthly for deposit into the Revenue Fund. See THE AUTHORIZING ORDINANCE,
The Revenue Fund.

[Remainder of page intentionally left blank]

Page 172 of 185

Historical Tax Receipts. Collections of a 1% sales and use tax in the City (the "Existing 1% Tax")
have been as follows for the years indicated:
January
February
March
April
May
June
July
August
September
October
November
December

2021
$372,433.97
430,199.49
386,449.81
344,791.14
497,414.31
431,489.65
435,076.43
440,432.47
441,034.70
418,778.46
428,223.32
396,005.96

2022
$418,636.61
477,294.36
416,920.95
392,183.25
490,250.70
450,939.78
476,484.33
491,256.97
476,322.98
490,542.13
485,720.01
484,430.74

2023
$463,152.86
523,078.39
465,962.11
447,552.90
533,313.51
457,528.75
486,362.33
551,895.25
497,929.78
485,743.29
471,335.14
509,653.71

2024
$467,263.02
540,860.94
453,477.79
468,841.92
482,791.07
455,666.21
477,455.05
504,969.71
479,070.78
492,672.19
481,035.79
486,937.22

2025
$476,848.00
517,041.68
444,799.09
462,907.99
514,296.81
463,325.27
504,130.08
524,851.94
504,086.73
444,779.22
481,034.11
484,558.87

2026
$496,740.51
507,049.77
451,848.69
458,011.59
502,880.13
461,740.15
487,881.91
504,610.43
492,169.45
N/A
N/A
N/A

Total

$5,022,329.71

$5,550,982.81

$5,893,508.02

$5,791,041.69

$5,822,659.79

$4,363,933.63

TAXES ARE COLLECTED IN ONE MONTH AND RECEIVED BY THE LEVYING ENTITY
TWO MONTHS LATER (For example, collections shown in June in the chart above are taxes paid in
the City in April).
Collections of the Existing 1% Tax for the twelve-month period ended September 30 have been as
follows for the periods indicated below.
Collections of
Existing 1% Tax
$5,333,297.67
5,887,468.76
5,797,128.63
5,872,932.79
5,773,304.83

Period
October 1, 2021 – September 30, 2022
October 1, 2022 – September 30, 2023
October 1, 2023 – September 30, 2024
October 1, 2024 – September 30, 2025
October 1, 2025 – September 30, 2026

Future Tax Receipts. Tax receipts will be contingent upon the sale and use of property and services
within the City, which activity is generally dependent upon economic conditions within the City and
surrounding trade areas. Also, Tax receipts may be affected by changes to transactions exempted from
the Taxes made by legislation adopted by the General Assembly of the State or by the people of the
State in the form of a constitutional amendment or initiated act. In the past the General Assembly of
the State has considered new exemptions to the Taxes, such as food sales, which, if adopted, would
materially reduce Tax receipts. The City has no control over actions of the General Assembly or the
people of the State and cannot predict whether changes to the Taxes may be made. Accordingly, the
City cannot predict with certainty the expected amount of Tax receipts to be received and, therefore,
there can be no assurance that Tax receipts will be sufficient to pay the principal of and interest on the
Bonds.
The United States Supreme Court held in S. Dakota v. Wayfair, Inc., No. 17-494, 2018 WL 3058015
(U.S. June 21, 2018) that in certain circumstances retailers can be required to collect sales tax even in
states where they have no physical presence. The Arkansas General Assembly passed Act 822 of 2019
that requires out-of-state sellers without a physical presence in the State to collect and remit sales and
use taxes to the State on annual sales of more than $100,000 from products and services delivered into
the State. Alternatively, such sellers would be required to collect and remit sales and use taxes to the
State if sales of products and services for delivery in the State consist of 200 or more transactions.
These thresholds are identical to those imposed by the United States Supreme Court in S. Dakota v.
Wayfair, Inc.

Page 173 of 185

Voters in the State will consider a proposed constitutional amendment concerning economic
development ("Issue 3") at the general election on November 3, 2026. If approved, Issue 3 would
become effective on January 1, 2027 and would authorize the General Assembly to provide for
economic development districts and related financing programs.
Issue 3 requires implementing legislation. Legislation introduced, but not enacted, during the 2025
legislative session proposed exempting sales transactions within economic development districts from
sales and use taxes and imposing replacement sales charges. Any legislation ultimately enacted may
differ materially from that proposal. Issue 3 does not expressly address the treatment of sales and use
taxes pledged to outstanding bonds.
Depending upon implementing legislation, the establishment of an economic development district
within the City could affect the amount of Tax receipts available to pay debt service on the Bonds. The
City is unable at this time to predict the impact of Issue 3.
THE AUTHORIZING ORDINANCE
Set forth below is a summary of certain portions of the Authorizing Ordinance. This summary does
not purport to be comprehensive and reference is made to the full text of the Authorizing Ordinance
for a complete description of its provisions. The City will covenant as set forth below in the
Authorizing Ordinance.
The Revenue Fund. The Trustee shall deposit all collections of the Taxes as and when received by it
into a special fund of the City held by the Trustee which is created by the Authorizing Ordinance and
designated "Sales and Use Tax Revenue Fund, Series 2026" (the "Revenue Fund"). There is created
in the Revenue Fund the following accounts: Bond Account; and Permanent Account. Tax receipts
received by the Trustee shall be deposited as follows: Tax receipts derived from the Bond Tax shall be
deposited into the Bond Account and Tax receipts derived from the Permanent Tax shall be deposited
into the Permanent Account. Moneys in the Bond Account in the Revenue Fund shall be applied each
month in the following order of priority:
and

(1)

1/6 of the interest on the Bonds next due - Debt Service Account in the Bond Fund;

(2)
1/12 of the principal of the Bonds next due at maturity or upon mandatory sinking fund
redemption - Debt Service Account in the Bond Fund; and
(3)
the Trustee’s fees and expenses and other administrative charges next due - Expense
Account in the Bond Fund; and
(4)
the amount which may be necessary to increase the Debt Service Reserve Account to
the required level – Debt Service Reserve Account in the Bond Fund;
(5)
the amount necessary to pay any arbitrage rebate due the United States Treasury under
Section 148(f) of the Code - Expense Account in the Bond Fund; and
(6)

balance - Redemption Account in the Bond Fund.

The deposits made into the Debt Service Account in the Bond Fund shall be reduced in order to take
into account as a credit (a) interest earnings and (b) transfers from the Debt Service Reserve Account
in the Bond Fund.
Moneys in the Permanent Account in the Revenue Fund shall be applied by the Trustee within five (5)
days of receipt by the Trustee in the following order of priority:

Page 174 of 185

(A)
in the event moneys in the Bond Account are insufficient to make the deposits
required by clauses (1) through (5) above, moneys in the Permanent Account shall be used for
such purpose in the order of priority listed above; and
(B)

the balance shall be transferred to the City for Permanent Tax Uses.

The Bond Fund. There is created by the Authorizing Ordinance a special fund of the City in the Trustee
which is designated "Sales and Use Tax Bond Fund, Series 2026" (the "Bond Fund") for the purpose
of providing funds for the payment of principal of and interest on the Bonds as they become due at
maturity or at redemption prior to maturity, any arbitrage rebate due under Section 148(f) of the Code
and the Trustee’s fees and expenses and other administrative charges in connection with the Bonds.
There shall be established in the Bond Fund the following accounts into which moneys shall be
deposited: (i) Debt Service Account; (ii) Redemption Account; and (iii) Expense Account. Moneys in
the following Bond Fund accounts shall be used on each interest payment date (or in the case of a
rebate payment under clause (4) on any date due) in the following order of priority as and when
necessary:
(1)
to pay the Trustee’s fees and expenses and other administrative charges then due Expense Account; and
(2)

to pay the interest on the Bonds then due - Debt Service Account; and

(3)
to pay the principal of the Bonds then due at maturity or upon mandatory sinking fund
redemption - Debt Service Account;
(4)
to pay any arbitrage rebate due the United States Treasury under Section 148(f) of the
Code – Expense Account; and
(5)

to redeem Bonds prior to maturity - Redemption Account.

There shall be established and maintained in the Bond Fund a Debt Service Reserve Account in an
amount equal to one-half of the maximum annual debt service requirement on the Bonds (the "required
level"). The City shall initially fund the Debt Service Reserve Account with proceeds of the Bonds.
Moneys in the Debt Service Reserve Account shall be used to make the payments described in clauses
(2) and (3) above if moneys in the Debt Service Account in the Bond Fund are not otherwise sufficient
for that purpose. Moneys in the Debt Service Reserve Account over and above the required level shall
be immediately transferred from the Debt Service Reserve Account into the Debt Service Account in
the Bond Fund. Moneys in the Debt Service Reserve Account shall be used to make the final payment
of the principal of and interest on the Bonds.
When the moneys in the Bond Fund shall be and remain sufficient to pay (1) the principal of all the
Bonds then outstanding, (2) interest on the Bonds until the next interest payment date, (3) the Trustee’s
fees and expenses and other administrative charges in connection with the Bonds and (4) any arbitrage
rebate due under Section 148(f) of the Code, there shall be no obligation to make any further payments
into the Bond Fund and any Tax receipts remaining in the Bond Fund after the principal of, premium,
if any, and interest on the Bonds have been paid may be used by the City for any lawful purpose.
Investments. (a) Moneys held for the credit of the Construction Fund may be invested and reinvested
at the direction of the City in Permitted Investments (as hereinafter defined) or other investments
permitted by State law which shall mature, or which shall be subject to redemption by the holder
thereof, at the option of such holder, not later than the date or dates when such money will be required
for the purposes intended.
(b)
Moneys held for the credit of the Debt Service Reserve Account shall be invested and
reinvested at the direction of the City, and in the Trustee's discretion in the absence of any direct
instructions from the City, in Permitted Investments, which shall mature, or which shall be subject to
13

Page 175 of 185

redemption by the holder thereof, at the option of such holder, not later than seven (7) years after the
date of investment or the final maturity date of the outstanding Bonds, whichever is earlier.
(c)
Moneys held for the credit of the Bond Fund (other than the Debt Service Reserve
Account) and the Revenue Fund shall be invested and reinvested at the direction of the City, and in the
Trustee’s discretion in the absence of any direct instructions from the City, in Permitted Investments,
which shall mature, or which shall be subject to redemption by the holder thereof at the option of the
holder, not later than the date or dates on which the money shall be required for the payment of the
principal of and interest on the Bonds when due.
(d)
Obligations purchased as an investment of any fund or account shall be deemed at all
times a part of such fund. Any profit or loss realized on investments of moneys in any fund shall be
charged to said fund.
(e)
"Permitted Investments" are defined as (i) direct or fully guaranteed obligations of the
United States of America ("Government Securities"), (ii) direct obligations of an agency,
instrumentality or government-sponsored enterprise created by an act of the United States Congress
and authorized to issue securities or evidences of indebtedness, regardless of whether the securities or
evidences of indebtedness are guaranteed for repayment by the United States Government, (iii)
certificates of deposit or demand deposits of banks, including the Trustee, which are insured by the
Federal Deposit Insurance Corporation ("FDIC") or, if in excess of insurance coverage, collateralized
by Government Securities or other securities authorized by State law to secure public funds or (iv)
money market funds invested exclusively in Government Securities and the obligations described in
(ii) above.
(f)
All investments and deposits in the Bond Fund and the Revenue Fund shall have a par
value (or market value when less than par, exclusive of accrued interest) at all times at least equal to
the amount of money credited to such funds and shall be made in such a manner that the money
required to be expended from any fund will be available at the proper time or times.
(g)
Investments of moneys in all funds shall be valued in terms of current market value as
of the last day of each year, except that direct obligations of the United States (State and Local
Government Series) in book entry form shall be continuously valued at par or face principal amount.
Certain Covenants. The City covenants that:
(a)
It will not take, suffer or permit any action which may cause the interest payable on the
Bonds to be included in gross income for federal income tax purposes, including any use of proceeds
of the sale of the Bonds or Tax receipts directly or indirectly in such manner as to cause the Bonds to
be treated as "arbitrage bonds" within the meaning of Section 148 of the Code.
(b)
It will not use or permit the use of the Improvements or the proceeds of the Bonds in
such manner as to cause the Bonds to be private activity bonds within the meaning of Section 141 of
the Code.
(c)
It will faithfully and punctually perform all duties with reference to the Taxes and the
Bonds, required by the Constitution and laws of the State and by the Authorizing Ordinance, including
the collection of the Taxes, as therein specified and covenanted, the segregating of the Tax receipts
and the applying of the Tax receipts as provided in the Authorizing Ordinance.
(d)
It will make any arbitrage rebate payment due the United States under Section 148(f)
of the Code from moneys in the Bond Fund.
Defaults and Remedies. (a) If there be any default in the payment of the principal of and interest on
the Bonds or if the City defaults in the performance of any covenant contained in the Authorizing
Ordinance, the Trustee may, and upon the written request of the owners of not less than 10% in
14

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principal amount of the Bonds then outstanding shall, by proper suit compel the performance of the
duties of the officials of the City and officials of the State, under the Authorizing Ordinance, to take
any action or obtain any proper relief in law or equity available under the Constitution and laws of the
State.
(b)
No owner of any Bond shall have any right to institute any suit, action, mandamus or
other proceeding in equity or in law for the protection or enforcement of any right under the
Authorizing Ordinance or under the Constitution and laws of the State unless such owner previously
shall have given to the Trustee written notice of the default on account of which such suit, action or
proceeding is to be taken, and unless the owners of not less than 10% in principal amount of the Bonds
then outstanding shall have made written request of the Trustee after the right to exercise such powers
or right of action, as the case may be, shall have accrued, and shall have afforded the Trustee a
reasonable opportunity either to proceed to exercise the powers herein granted or granted by the
Constitution and laws of the State, or to institute such action, suit or proceeding in its name, and unless,
also, there shall have been offered to the Trustee reasonable security and indemnity against the cost,
expense and liabilities to be incurred therein or thereby and the Trustee shall have refused or neglected
to comply with such request within a reasonable time, and such notification, request and offer of
indemnity are in every such case, at the option of the Trustee, to be conditions precedent to the
execution of the powers and trust of the Authorizing Ordinance or to any other remedy thereunder. No
one or more owners of the Bonds shall have any right in any manner whatever by his or their action to
affect, disturb or prejudice the security of the Authorizing Ordinance, or to enforce any right thereunder
except in the manner therein provided, that all proceedings at law or in equity shall be instituted, had
and maintained in the manner therein provided and for the benefit of all owners of the outstanding
Bonds, and any individual rights of action or other right given to one or more of such owners by law
are restricted by the Authorizing Ordinance to the rights and remedies therein detailed.
(c)
All rights of action under the Authorizing Ordinance or under any of the Bonds secured
thereby, enforceable by the Trustee, may be enforced by it without the possession of any of the Bonds,
and any such suit, action or proceeding instituted by the Trustee shall be brought in its name and for
the benefit of all the owners of the Bonds, subject to the provisions of the Authorizing Ordinance.
(d)
No remedy conferred upon or reserved to the Trustee or to the owners of the Bonds is
intended to be exclusive of any other remedy or remedies, and each and every such remedy shall be
cumulative and shall be in addition to every other remedy given under the Authorizing Ordinance or
given by any law or by the Constitution of the State.
(e)
No delay or omission of the Trustee or of any owners of the Bonds to exercise any right
or power accrued upon any default shall impair any such right or power or shall be construed to be a
waiver of any such default or an acquiescence therein, and every power and remedy given by the
Authorizing Ordinance to the Trustee and to the owners of the Bonds, respectively, may be exercised
from time to time and as often as may be deemed expedient.
(f)
The Trustee may, and upon the written request of the owners of not less than a majority
in principal amount of the Bonds then outstanding shall, waive any default which shall have been
remedied before the entry of final judgment or decree in any suit, action or proceeding instituted under
the provision of the Authorizing Ordinance or before the completion of the enforcement of any other
remedy, but no such waiver shall extend to or affect any other existing or any subsequent default or
defaults or impair any rights or remedies consequent thereon.
Defeasance. The Bonds shall be deemed paid when there has been deposited with the Trustee an
amount sufficient to pay the principal or redemption price of and interest on the Bonds to the date of
maturity or redemption. The Bonds shall also be deemed paid if there shall be irrevocably deposited
with the Trustee (i) cash fully insured by the FDIC and/or fully collateralized with direct obligations
of the United States of America ("Defeasance Securities") sufficient to make such payment and/or (ii)
Defeasance Securities (provided that such deposit will not affect the tax exempt status of the interest
on any of the Bonds or cause any of the Bonds to be classified as "arbitrage bonds" within the meaning
15

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of Section 148 of the Code), maturing as to principal and interest in such amounts and at such times as
will provide sufficient moneys to make such payment, and all necessary and proper fees, compensation
and expenses of the Trustee with respect to which such deposit is made shall have been paid or the
payment thereof provided for to the satisfaction of the Trustee.
In case of any defeasance of the Bonds, redemption of defeased Bonds shall be scheduled on the basis
of mandatory redemption requirements and assuming annual collections of the Bond Tax in an amount
equal to receipts for the most recent twelve-month period.
On the payment of any Bonds within the meaning of the Authorizing Ordinance, the Trustee shall hold
in trust, for the benefit of the owners of such Bonds, all such moneys and/or Defeasance Securities.
When all the Bonds shall have been paid within the meaning of the Authorizing Ordinance, if the
Trustee has been paid its fees and expenses or provision has been made therefor and if any arbitrage
rebate payment has been paid to the United States or provision made therefor, the Trustee shall take
all appropriate action to cause (i) the pledge and lien of the Authorizing Ordinance to be discharged
and cancelled, (ii) all moneys held by it pursuant to the Authorizing Ordinance and which are not
required for the payment of such Bonds, to be paid over or delivered to or at the direction of the City.
No Parity Bonds. The City covenants that it will not issue any additional bonds or incur any additional
obligation, secured by a lien on or pledge of the Tax receipts, except as hereinafter provided. The City
reserves the right to issue additional bonds secured by a lien on or pledge of the receipts of the
Permanent Tax on a subordinate basis to the pledge securing the Bonds.
The Trustee. The Trustee shall be responsible for the exercise of good faith and ordinary prudence in
the execution of its trusts and duties. The recitals in the Authorizing Ordinance and in the Bonds are
the recitals of the City and not of the Trustee. The Trustee shall not be required to take any action
unless it shall have been requested to do so in writing by the owners of not less than 10% in principal
amount of Bonds then outstanding and shall have been offered reasonable security and indemnity
against the costs, expenses and liabilities to be incurred therein or thereby. The Trustee may resign at
any time by 60 days' notice in writing to the City and the owners of the Bonds. The majority in
principal amount of the owners of the outstanding Bonds or the City, so long as it is not in default
under the Authorizing Ordinance, may at any time, with or without cause, remove the Trustee. In the
event of a vacancy in the office of Trustee either by resignation or by removal, the City shall forthwith
designate a new Trustee. The Trustee and any successor Trustee shall file a written acceptance and
agreement to execute the trusts and duties imposed upon it by the Authorizing Ordinance, but only
upon the terms and conditions set forth in the Authorizing Ordinance and subject to the provisions of
the Authorizing Ordinance, to all of which the respective owners of the Bonds agree. Such written
acceptance shall be filed with the City, and a copy thereof shall be placed in the bond transcript. Any
successor Trustee shall have all the powers herein granted to the original Trustee.
Supplemental Ordinances. The terms of the Authorizing Ordinance constitute a contract between the
City and the owners of the Bonds and no variation or change in the undertaking set forth in the
Authorizing Ordinance shall be made while any of the Bonds are outstanding, except as hereinafter set
forth. The owners of not less than 75% in aggregate principal amount of the Bonds then outstanding
shall have the right, from time to time, to consent to and approve the adoption by the City of a
supplemental ordinance as shall be necessary or desirable for the purpose of modifying, altering,
amending, adding to or rescinding, in any particular, any of the terms or provisions contained in the
Authorizing Ordinance or in any supplemental ordinance. The Trustee may consent to any change
without the consent of 75% of the owners of the aggregate principal amount of Bonds outstanding that
the Trustee determines is not to the material prejudice of the owners of the Bonds or in order to cure
any ambiguity or formal defect or omission in the Authorizing Ordinance or any amendment thereto,
provided, however, that nothing therein contained shall permit or be construed as permitting (a) an
extension of the maturity of the principal of or the interest on any Bond issued thereunder, or (b) a
reduction in the principal amount of any Bond or the rate of interest thereon, or (c) the creation of a
pledge of the Tax receipts other than a pledge created or permitted by the Authorizing Ordinance, or
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(d) a privilege or priority of any Bond or Bonds over any other Bond or Bonds, or (e) a reduction in
the aggregate principal amount of the Bonds required for consent to such supplemental ordinance.
CONTINUING DISCLOSURE AGREEMENT
Past Compliance. In the past five years, the City has been a party to one continuing disclosure
agreement in connection with outstanding bonds. Such agreement requires the City to file an annual
report with the Municipal Securities Rulemaking Board on its Electronic Municipal Market Access
system ("EMMA") within the time period set forth in the agreement. The following summarizes a
non-exhaustive discussion of the City's compliance with its continuing disclosure obligation over the
past five years.
As part of its annual report, the City has been obligated to file on EMMA certain statistical information
relating to the City waterworks, sanitation and sewer system (the "System").
The required statistical information for the fiscal years ended December 31, 2021 and December 31,
2024 was timely filed. The required statistical information for the fiscal years ended December 31,
2022, December 31, 2023 and December 31, 2025 was filed 34 days late, 104 days late and 1 day late,
respectively.
As part of its annual report, the City has also been obligated to file on EMMA audited financial
statements of the System within 180 days after the end of each fiscal year or if not available by that
date, then when available. The audited financial statements of the System for the fiscal years ended
December 31, 2021, December 31, 2022, December 31, 2023 and December 31, 2025 were filed 145
days late, 20 days late, 89 days late and 20 days late, respectively. The audited financial statements of
the System for the fiscal year ended December 31, 2024 were not filed but certain financial information
relating to the 2024 fiscal year was included in the audited financial statements for the fiscal year ended
December 31, 2025.
The continuing disclosure agreements have also obligated the City to file a notice of the occurrence of
any event listed in Securities and Exchange Commission, Rule 15c2-12(b)(5). No such notices were
required to be filed.
Set forth below is a summary of certain portions of the Continuing Disclosure Agreement. This
summary does not purport to be comprehensive and reference is made to the full text of the Continuing
Disclosure Agreement for a complete description of the provisions.
Purpose of the Continuing Disclosure Agreement. The Continuing Disclosure Agreement will be
executed and delivered by the City and the Trustee for the benefit of the Beneficial Owners of the
Bonds and in order to assist the Underwriter in complying with the Securities and Exchange
Commission, Rule 15c2-12(b)(5).
Definitions. In addition to the definitions set forth in this Official Statement, the following capitalized
terms shall have the following meanings:
"Annual Report" shall mean any annual report provided by the City pursuant to, and as
described in, the Continuing Disclosure Agreement.
"Beneficial Owner" of a Bond shall mean any person who has or shares the power, directly or
indirectly, to make investment decisions concerning ownership of any Bonds (including persons
holding Bonds through nominees, depositories or other intermediaries).
"Dissemination Agent" shall mean the Trustee, acting in its capacity as Dissemination Agent,
or any successor Dissemination Agent designated in writing by the City and which has filed with the
Trustee a written acceptance of such designation.

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"EMMA" shall mean the Electronic Municipal Market Access system as described in 1934
Act Release No. 59062 and maintained by the MSRB for purposes of the Rule.
"Financial Obligation" shall mean a
(A)

debt obligation;

(B)
derivative instrument entered into in connection with, or pledged as security or
a source of payment for, an existing or planned debt obligation; or
(C)

guarantee of obligations described in (A) or (B).

The term Financial Obligation shall not include municipal securities as to which a final official
statement has been provided to the MSRB consistent with the Rule.
"Listed Events" shall mean any of the events listed hereunder.
"MSRB" shall mean the Municipal Securities Rulemaking Board.
"Rule" shall mean Rule 15c2-12(b)(5) adopted by the Securities and Exchange Commission
under the Securities Exchange Act of 1934, as the same may be amended from time to time.
Provision of Annual Report. (a) The City shall, or shall cause the Dissemination Agent to, not later
than one hundred eighty (180) days after the end of the City’s fiscal year (presently December 31),
commencing with the report after the end of the 2026 fiscal year, provide to the MSRB, through its
continuing disclosure service portal provided through EMMA at http://www.emma.msrb.org or any
similar system acceptable to the Securities and Exchange Commission, an Annual Report which is
consistent with the requirements of the Continuing Disclosure Agreement. The Annual Report shall
be in electronic format as prescribed by the MSRB and shall be accompanied by identifying
information as prescribed by the MSRB. The Annual Report may be submitted as a single document
or as separate documents comprising a package and may cross-reference other information as provided
in the Continuing Disclosure Agreement; provided that the Financial Statements (as defined below)
may be submitted separately from the balance of the Annual Report and later than the date required
above for the filing of the Annual Report if they are not available by that date, but, in such event, such
Financial Statements shall be submitted within thirty (30) days after receipt thereof by the City. If the
City’s fiscal year changes, it shall give notice of such change in the manner as for a Listed Event.
(b)
Not later than fifteen (15) days prior to the date specified in subsection (a) for providing
the Annual Report to the MSRB, the City shall provide the Annual Report to the Dissemination Agent
and the Trustee (if the Trustee is not the Dissemination Agent). If by such date, the Trustee has not
received a copy of the Annual Report, the Trustee shall contact the City and the Dissemination Agent
to determine if the City is in compliance with the first sentence of this subsection (b).
(c)
If the Trustee is unable to verify that an Annual Report (containing the information
required in (a) under Content of Annual Report, below) has been provided to the MSRB by the date
required in subsection (a), the Trustee shall send a notice to the MSRB.
Content of Annual Report. The City’s Annual Report shall contain or incorporate by reference the
following:
(a)

Tax receipts for the latest calendar year and the four (4) previous years, if available.

(b)
The annual financial statements of the general fund of the City, which (i) need not be
audited in accordance with auditing standards generally accepted in the United States of America, (ii)
shall be prepared using accounting principles prescribed by Arkansas Code Annotated Section 10-4412, as it may be amended from time to time, or any successor statute and (iii) shall be presented in a
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financial audit, performance audit, information technology audit, review, report of agreed-upon
procedures, compilation, examination, investigation, or other report or procedure approved by the
Arkansas Legislative Joint Auditing Committee in accordance with, and as required by, State law (the
"Financial Statements").
Any or all of the items above may be incorporated by reference from other documents, including
official statements of debt issues of the City or related public entities, which are available to the public
on the MSRB's website or filed with the Securities and Exchange Commission. The City shall clearly
identify each such other document so incorporated by reference.
Reporting of Listed Events. (a) This caption describes the giving of notices of the occurrence of any
of the following events:
1.

Principal and interest payment delinquencies.

Non-payment related defaults, if material.

Unscheduled draws on debt service reserves reflecting financial difficulties.

Unscheduled draws on credit enhancements reflecting financial difficulties.

Substitution of credit or liquidity providers, or their failure to perform.

Adverse tax opinions, the issuance by the Internal Revenue Service of proposed or final
determinations of taxability, Notices of Proposed Issue (IRS Form 5701-TEB) or other
material notices or determinations with respect to the tax status of the security, or other
material events affecting the tax-exempt status of the security.

Modifications to rights of security holders, if material.

Bond calls (excluding mandatory sinking fund redemptions), if material.

Defeasances and tender offers.

10.

Release, substitution, or sale of property securing repayment of the securities, if
material.

11.

Rating changes.

12.

Bankruptcy, insolvency, receivership or similar event of the City.

13.

The consummation of a merger, consolidation or acquisition involving the City or the
sale of all or substantially all of the assets of the City, other than in the ordinary course
of business, the entry into a definitive agreement to undertake such action or the
termination of a definitive agreement relating to any such actions, other than pursuant
to its terms, if material.

14.

Appointment of a successor or additional trustee or the change of name of a trustee, if
material.

15.

Incurrence of a Financial Obligation of the City, if material, or agreement to covenants,
events of default, remedies, priority rights, or other similar terms of a Financial
Obligation of the City, any of which affect security holders, if material.

Page 181 of 185

16.

Default, event of acceleration, termination event, modification of terms, or other
similar events under the terms of a Financial Obligation of the City, any of which
reflect financial difficulties.

(b)
After the occurrence of a Listed Event (excluding an event described in (a)8
above), the City shall promptly notify the Dissemination Agent (if other than the City) in writing. Such
notice shall instruct the Dissemination Agent to report the occurrence.
(c)
After the occurrence of a Listed Event (excluding an event described in (a)8
above), whether by notice from the Trustee or otherwise, the City shall file (or shall cause the
Dissemination Agent to file), in a timely manner not in excess of ten (10) business days after the
occurrence of such Listed Event, a notice of such occurrence with the MSRB, through its continuing
disclosure service portal provided through EMMA at http://www.emma.msrb.org or any other similar
system that is acceptable to the Securities and Exchange Commission, with a copy to the Trustee (if
the Trustee is not the Dissemination Agent). Each notice of the occurrence of a Listed Event shall be
captioned "Notice of Listed Event" and shall be filed in electronic format as prescribed by the MSRB
and shall be accompanied by identifying information as prescribed by the MSRB. In the event of a
Listed Event described in (a)8 above, the Trustee shall make the filing in a timely manner not in excess
of ten (10) business days after the occurrence of such Listed Event.
Termination of Reporting Obligation. The City’s obligations under the Continuing Disclosure
Agreement shall terminate upon the defeasance, prior redemption or payment in full of all the Bonds.
Dissemination Agent. The City may, from time to time, appoint or engage a Dissemination Agent to
assist it in carrying out its obligations under the Continuing Disclosure Agreement, and may discharge
any such Agent, with or without appointing a successor Dissemination Agent. The Dissemination
Agent shall not be responsible in any manner for the content of any notice or report prepared by the
City pursuant to the Continuing Disclosure Agreement. If at any time there is not any other designated
Dissemination Agent, the Trustee shall be the Dissemination Agent. The initial Dissemination Agent
shall be the Trustee.
Amendment; Waiver. Notwithstanding any other provision of the Continuing Disclosure Agreement,
the City and the Trustee may amend the Continuing Disclosure Agreement, and any provisions of the
Continuing Disclosure Agreement may be waived, provided that the following conditions are satisfied:
(a)
If the amendment or waiver relates to the requirements for providing an Annual Report,
to the contents of the Annual Report or the reporting of Listed Events, it may only be made in
connection with a change in circumstances that arises from a change in legal requirements, change in
law, or change in the identity, nature or status of the City with respect to the Bonds, or the type of
business conducted;
(b)
The undertaking, as amended or taking into account such waiver, would, in the opinion
of nationally recognized bond counsel, have complied with the requirements of the Rule at the time of
the original issuance of the Bonds, after taking into account any amendments or interpretations of the
Rule, as well as any change in circumstances; and
(c)
The amendment or waiver either (i) is approved by the Beneficial Owners of the Bonds
in the same manner as provided in the Authorizing Ordinance for amendments to the Authorizing
Ordinance with the consent of Beneficial Owners, or (ii) does not, in the opinion of the Trustee,
materially impair the interests of the Beneficial Owners of the Bonds.
In the event of any amendment or waiver of a provision of the Continuing Disclosure Agreement, the
City shall describe such amendment in the next Annual Report, and shall include, as applicable, a
narrative explanation of the reason for the amendment or waiver and its impact on the type (or in the
case of a change of accounting principles, on the presentation) of financial information or operating
data being presented by the City. In addition, if the amendment relates to the accounting principles to
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be followed in preparing financial statements, (i) notice of such change shall be given in the same
manner as for a Listed Event, and (ii) the Annual Report for the year in which the change is made
should present a comparison (in narrative form and also, if feasible, in quantitative form) between the
financial statements as prepared on the basis of the new accounting principles and those prepared on
the basis of the former accounting principles.
Additional Information. Nothing in the Continuing Disclosure Agreement shall be deemed to prevent
the City from disseminating any other information, using the means of dissemination set forth in the
Continuing Disclosure Agreement or any other means of communication, or including any other
information in any Annual Report or notice of occurrence of a Listed Event, in addition to that which
is required by the Continuing Disclosure Agreement. If the City chooses to include any information
in any Annual Report or notice of occurrence of a Listed Event in addition to that which is specifically
required by the Continuing Disclosure Agreement, the City shall have no obligation under the
Continuing Disclosure Agreement to update such information or include it in any future Annual Report
or notice of occurrence of a Listed Event.
Default. In the event of a failure of the City or the Trustee to comply with any provision of the
Continuing Disclosure Agreement, the Trustee, the City or any Beneficial Owner may (and the Trustee,
at the request of the Underwriter or the Beneficial Owners of at least 25% aggregate principal amount
of outstanding Bonds, shall) take such actions as may be necessary and appropriate, including seeking
mandamus or specific performance by court order, to cause the City or the Trustee, as the case may
be, to comply with its obligations under the Continuing Disclosure Agreement. A default under the
Continuing Disclosure Agreement shall not be deemed a default under the Authorizing Ordinance, and
the sole remedy under the Continuing Disclosure Agreement in the event of any failure of the City or
the Trustee to comply with the Continuing Disclosure Agreement shall be an action to compel
performance.
Duties of Trustee and Dissemination Agent and Right of Indemnity. The Dissemination Agent (if
other than the Trustee) and the Trustee in its capacity as Dissemination Agent shall have only such
duties as are specifically set forth in the Continuing Disclosure Agreement, and the City agrees to
indemnify and save the Dissemination Agent and the Trustee, their officers, directors, employees and
agents, harmless against any loss, expense and liabilities which they may incur arising out of or in the
exercise or performance of their powers and duties hereunder, including the costs and expenses
(including attorney’s fees) of defending against any claim of liability, but excluding liabilities due to
the Dissemination Agent’s or the Trustee’s gross negligence or willful misconduct.
Beneficiaries. The Continuing Disclosure Agreement shall inure solely to the benefit of the City, the
Trustee, the Dissemination Agent, the Underwriter and the Beneficial Owners and shall create no rights
in any other person or entity.

[Remainder of page intentionally left blank]

Page 183 of 185

DEBT SERVICE COVERAGE
Set forth below is the debt service coverage information for the Bonds. In arriving at the amount of
annual Tax receipts for this calculation, the City examined the collections of the Existing 1% Tax for
the twelve-month period ended September 30, 2026.
Actual Tax receipts collected by the City will depend upon, among other things, the level of retail
activity within the City, the economic health of the City and surrounding trade area, possible future
actions by the people of the State or General Assembly of the State defining transactions subject to the
Taxes and granting exemptions from the Taxes, such as exemptions for food sales. The figure set forth
below is only an estimate and there can be no assurance that actual Tax receipts will equal the estimate
shown below. See THE TAXES, Future Tax Receipts. Based upon the estimated Tax receipts, debt
service coverage is as follows:
Estimated Tax Receipts Available for Debt Service (A)

5,773,304

Maximum Annual Debt Service (B)(1)

3,000,588

Debt Service Coverage (A/B)

1.92x

____________
(1)
Assuming an average coupon rate of 5.20% on the Bonds.

[Remainder of page intentionally left blank]

Page 184 of 185

DEBT SERVICE REQUIREMENTS
The following table shows amounts required to pay scheduled principal and interest on the Bonds
during each year:
Year
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
2051
2052
2053
2054
2055
2056
Totals

Bond
Principal*
$ 545,000
710,000
740,000
775,000
820,000
855,000
900,000
945,000
995,000
1,045,000
1,095,000
1,150,000
1,210,000
1,270,000
1,335,000
1,400,000
1,475,000
1,545,000
1,625,000
1,705,000
1,795,000
1,890,000
1,990,000
2,095,000
2,205,000
2,320,000
2,440,000
2,570,000
2,705,000
2,850,000

Bond
Interest

$45,000,000

[Remainder of page intentionally left blank]

* Preliminary; subject to change.

Total
Debt Service

Page 185 of 185

LEGAL MATTERS
Legal Proceedings. There is no litigation pending seeking to restrain or enjoin the Taxes or the issuance
or delivery of the Bonds, or questioning or affecting the legality of the Taxes or Bonds or the
proceedings and authority under which the Bonds are to be issued, or questioning the right of the City
to adopt the Authorizing Ordinance or to issue the Bonds or the levy and pledge of the Taxes by the
City.
Legal Opinions. Legal matters incident to the authorization and issuance of the Bonds are subject to
the unqualified approving opinion of Friday, Eldredge & Clark, LLP, Little Rock, Arkansas, Bond
Counsel.
Tax Exemption. In the opinion of Friday, Eldredge & Clark, LLP, Bond Counsel, under existing law
the interest on the Bonds is exempt from all Arkansas state, county and municipal taxes.
Also, in the opinion of Bond Counsel, interest on the Bonds under existing law is excludable from
gross income for federal income tax purposes under Section 103 of the Code and is not an item of tax
preference for purposes of the federal alternative minimum tax imposed on individuals; however, such
interest on the Bonds may be taken into account for the purpose of computing the alternative minimum
tax imposed on certain corporations. The opinion set forth in the preceding sentence is subject to the
condition that the City comply with all requirements of the Code that must be satisfied subsequent to
the issuance of the Bonds in order that the interest thereon be, and continue to be, excludable from
gross income for federal income tax purposes under Section 103 of the Code. These requirements
generally relate to arbitrage, the use of the proceeds of the Bonds and the Improvements. Failure to
comply with certain of such requirements could cause the interest on the Bonds to be so includable in
gross income for federal income tax purposes retroactively to the date of issuance of the Bonds. The
City has covenanted to comply with all such requirements in the Authorizing Ordinance.
Prospective purchasers of the Bonds should be aware that (i) with respect to insurance companies
subject to the tax imposed by Section 831 of the Code, Section 832(b)(5)(B)(i) reduces the deduction
for loss reserves by 15 percent of the sum of certain items, including interest on the Bonds, (ii) interest
on the Bonds earned by certain foreign corporations doing business in the United States could be
subject to a branch profits tax imposed by Section 884 of the Code, (iii) passive investment income
including interest on the Bonds, may be subject to federal income taxation under Section 1375 of the
Code for Subchapter S corporations that have Subchapter C earnings and profits at the close of the
taxable year if greater than 25% of the gross receipts of such Subchapter S corporation is passive
investment income and (iv) Section 86 of the Code requires recipients of certain Social Security and
certain Railroad Retirement benefits to take into account in determining gross income, receipts or
accruals of interest on the Bonds.
Prospective purchasers of the Bonds should be further aware that Section 265 of the Code denies a
deduction for interest on indebtedness incurred or continued to purchase or carry the Bonds or, in the
case of a financial institution, that portion of a holder’s interest expense allocated to interest on the
Bonds, except with respect to certain financial institutions (within the meaning of Section 265(b)(5) of
the Code).
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Oct 21, 2026 Record updated
Oct 27, 2026 Record updated

← The full Docket · every meeting, vote, and action on the permanent record · also in the National Record Index.

On the agenda: Van Buren meeting — Data Center (Oct 26)

The agenda — from the public record

Provenance

Record history

More on the Docket in Arkansas