0960
5\
ORDINANCE NO. 960 (#23-91)
AN ORDINANCE AMENDING ORDINANCE NO. 585 TO ESTABLISH AND IMPOSE
THE AGGREGATE AMOUNT OF FEES, CHARGES, AND SPECIAL TAXES TO BE
PAID BY FIRST ELECTRIC COOPERATIVE; THE METHOD OF PAYMENT
THEREOF; DECLARING AN EMERGENCY; AND, FOR OTHER LEGAL PURPOSES.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
JACKSONVILLE, ARKANSAS, THAT:
SECTION ONE: It is hereby declared that Ordinance No. 585
should be amended as set forth below.
Section Nine of Ordinance No. 585 is hereby amended to read
as follows:
"The manufa.cture, sale, furnishing, transmission, and
distribution of electric power and energy by First Electric
Cooperative within the city limits of the City of
Jacksonville is hereby declared to be a special privilege.
For such privilege, First Electric Cooperative shall pay to
the City of Jacksonville an assessment equal to the follow-
ing amount:
On January 1, 1992, and every day thereafter until otherwise
modified, the franchise tax factor appearing on First
Electric Cooperative customer statements for those customers
within the corporate limits of the City of Jacksonville will
be three percent (3%).
On February 20, 1992, and on the twentieth day of each month
thereafter, First Electric Cooperative shall pay a monthly
installment equal to the gross amount of revenues collected
for the preoeding month. Such collection shall continue
each month thereafter at the rate of three percent (3%) of
the preceding month's gross revenues collected from all
First Electric Cooperative customers located within the
corporate limits of the City of Jacksonville. Payments
shall be due on the twentieth (20th) day of eaoh month and
shall continue in succeeding years in the same manner as
described above unless otherwise modified."
SECTION TWO: All Ordinances or parts of Ordinances in
conflict herewith are hereby repealed to the extent of such
conflict.
SECTION THREE: Because conditions affecting the City's
business and financial needs are of such a timely nature, it is
hereby necessary to the health, safety, and welfare of the
citizens of Jacksonville, Arkansas, that an emergency hereby be
declared. As such, this Ordinance shall take effect immediately
upon its passage and its publication, as provided by applicable
law.
APPROVED AND ADOPTED THIS FIFTH DAY OF DECEMBER, 1991.
CITY OF JACKSONVILLE, ARKANSAS
ATTEST:
BY~i.~.~~~_L-
TOMMY SWAIM (MAYOR
~~. /
tyU.. M. LE'ONAR'D, 'i5ITY C'LERK
("
\
ROBER