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0557 f? ORDINANCE NO. 557 AN ORDINANCE FOR THE PURPOSE OF LEVYING FIVE MILLS, ONE-HALF MILL AND ONE-HALF MILL TOTALING SIX MILLS AGAINST PERSONAL AND REAL PROPERTY WITHIN THE CORPORATE LIMITS OF THE CITY OF JACKSONVILLE, ARKANSAS; FOR THE PURPOSE OF LEVYING A TAX SUFFICIENT ~m PAY THE PRINCIPAL AND INTEREST ON SEVERAL OBLI- GATION IMPROVMENT BONDS OF THE CITY OF JACKSONVILLE, ARKANSAS; FOR THE PURPOSE OF SUSPENDING THREE AND ONE-HALF MILLS TAX FOR INDUSTRIAL DEVELOPMENT BONDS FOR THE YEAR 1980; FOR THE PURPOSE OF EFFECTING CERTIFICATION OF THE COUNTY CLERK OF PULASKI COUNTY OF THE TAX LEVIED; PRESCRIBED OTHER MATTERS PERTAINING THERETO; AND DECLARING AN EMERGENCY. WHEREAS, it is necessary to meet current obligations and expenses of the City of Jacksonvill~, Arkansas (called "City"), to levy upon all real and personal property within the City, a tax of Five (5) mills to be collected with the taxes collected in the year 1980; and, WHEREAS, Ordinance No. 172, dated May 19, 1966, was passed by the City Council of the City and called for a special election to deteJ.1l1ine the question of levying a tax of one-half (i) mill on all real and personal property within the City for the puppose of establishing and funding a Firemen's Relief and Pension Fund; and an election was subsequently held at which the qualified elec- tors of the City voted in favor of that tax to be collected with the taxes collected in the year 1980; and, WHEREAS, Ordinance No. 172, dated May 19, 1966, was passed by the City Council of the City, and called for a special e~ection to deteJ.wine the question of levying a tax of one-half (i) mill on all real and personal property within the City for the pUL~ose of establishing and funding a Pmlicemen's Pension and Relief Fund; and an election was subsequently held at which the qualified electors of the City voted in favo~::of that tax to be collected with the taxes collected in 1980; and, WHEREAS, Ordinance No. 179, dated August 25, 1966, was passed by the City Council of the City authorizing the issuance of Indus- trial Development Bonds, under Amendment No. 49 of the Constitution of the State of Arkansas, levying a tax sufficient to pay the prin- cipal of and interest on these Industrial Development Bonds; and r~ 557 ORDINANCE NO. P AG E 2. finding that a levy of three and one-half (3t) mills would be sufficient to pay these sums; and, whereas, it will not be necessary to levy and tax upon the real and personal property assessed during the year 1979 and to be collected during the year 1980 for the payment of these Industrial Development Bonds; and, WHEREAS, the City of Jacksonville, Arkansas, proposes to issue bonds under Amendment No. 13 to the Constitution of the State of Arkansas; and, WHEREAS, it is necessary that the City levy a tax sufficient to pay the Bonds as they mature, with interest thereon, in time for the tax to be collec~ed in 1980. NOW THEREFORE, BE IT ORDAINED by the City Council of Jacksonville, Arkansas: SECTION 1..;. That a tax of six (6) mills on eac11 dollar of assessed valuation of all real and personal property within I the City, be and hereby is levied by the City Council of the City to be collected with the taxes collected in the year 1980 for the purpose of general revenues, funding Firemen's Relief and Pension Fund, and funding P~licemen's Pension and Relief Fund. SECTION ~ That the tax of three and one-half (3t) mills on each dollar assessed valuation of all real and personal property within the City for the purpose of p~ying the principal of and interest on Industrial Development Bonds under Amendment No. 49 of the Constitution of the State of A~kansas, be and that tax is suspended for the year 1979 and shall not be collected in the year 1980. SEe'LION 1: That in order to pay the aforementioned Bonds as they mature, with interest'thereon, there is hereby levied upon all taxable real and personal property within the City a tax of 2t mills on each dollar of assessed valuation, to be collected with the taxes collected in the year 1980. s1 557 ORDINANCE NO. PAGE 3. SECTION 4; That a certified copy of this Ordinance be delivered by the. City Clerk of the City of Jacksonville, Arkansas, to the County Clerk of Pulaski County, Arkansas, whose duty it shall be to extend said eight and one-half (8t) mills tax against all real and personal property assessments made against properties within the corporate limits of the City of Jacksonville, Arkansas. SECTION 5: That it is hereby ascertained and declared to be essential to the operation of the City, and to the health, safety and welfare of its inhabitants, that the rate of taxation set out above in this Ordinance be levied and certified to the County Clerk of Pulaski County immediately, in order that it may be extended on the tax books of Pulaski County for collection in the year 1980. It is, therefore, declared that an emergency exists and this Ordinance shall be in force and take effect il111l1ediately upon its passage. PASSED this 1st day of November " 19i9. CITY OF JACKSONVILLE, ARKANSAS ,~?~ ATTEST: ~; ~':3 ~~ >8~ APPROVED AS TO FORM: ~~~N~. ~ ~