Loading...
0866 /Jl ORDINANCE NO. 8 6 6' (#18-87) AN ORDINANCE AMENDING ORDINANCE NUMBERS 729, 761, 807, AND 844, FIXING AND IMPOSING THE AGGREGATE AMOUNT OF FEES, CHARGES AND SPECIAL TAXES TO BE PAID THE CITY OF JACKSONVILLE, ARKANSAS, BY ARKANSAS POWER AND LIGHT COMPANY AND THE METHOD OF PAYMENT THEREOF; DECLARING AN EMERGENCY AND FOR OTHER PURPOSES. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF JACKSONVILLE, ARKANSAS, THAT: SECTION 1. It is hereby declared that Ordinance Numbers 729, 761, 807, and 844 should be amended as set forth below. SECTION 2. Section 1 of said Ordinance Number 729 and Section 2 of said Ordinance Numbers 761, 807, and 844 are hereby amended to read as follows: "The manufacture, sale, furnishing, transmission and distribution of electric power and energy by the Arkansas Power and Light Company within the City is hereby declared to be a special privilege and for such privilege the Arkansas Power and Light Company shall pay to the City an assessment amounting to: For the first eight (8) months of 1987, the Arkansas Power and Light Company shall pay, in monthly installments, the total sum of One Hundred Fifty Thousand and 00/100 Dollars ($150,000.00), representing the appropriate percentage of an annual assessment of Two Hundred Twenty-five Thousand and 00/100 Dollars ($225,000.00). Beginning on September 1, 1987, the franchise tax factor appearing on Arkansas Power and Light Company bills ren- dered to customers within the corporate limits of the City of Jacksonville will be four and 25/100ths percent (4.25%). Beginning with the month of October, 1987, Arkansas Power and Light Company shall pay a monthly installment for the preceding month, and continuing every month thereafter, the sum of four and 25/100ths percent (4.25%) of the preceding month's gross revenues collected from all customers located within the corporate limits of the City of Jacksonville. Payments shall continue monthly thereafter with payments due on the twentieth (20th) day of each month. Payments shall continue in succeeding years in the same manner as described above unless sooner modified." SECTION 3. In all other respects, said Ordinances shall remain unchanged. SECTION 4. All Ordinances and parts of Ordinances in conflict with the provisions of this Ordinance are hereby, repealed. SECTION 5. It is hereby found by the Jacksonville City Council that there is an urgent need for additional revenues for the City. Therefore, an emergency is declared to exist, and this Ordinance being necessary for the preservation and advancement of the public peace, health, and safety shall be in full force and effect from and after its passage. APPROVED THIS 6th DAY OF AUGUST , 1987. ~~ A OR~ 13z., PAGE TWO - ORVINANCE 8 6 6 ATTEST: " //") ',' /'j ~~/ \~ (~-?<~ ~~ . (~^--A-A_i~_ / :::~,~-' LtltA M. LEONARD ~"ITY CLERK APPROVED AS TO FORM: KEIT~~~ ITY ATTORNEY