0098 WDINANCE N0. 98
AN ORDINANCE DIRECTING TUAT THE QUESTION OF
ISS9ING BONDS F4t TILE PURPOSE OF ACQUIRIVO
A SITE FOR, CONSTRUCTING Am EQUIPPING A
CITY MALL AM) THE QUESTION OF ISSUING BONDS
FOR THE PURPOSE OF CONSTRUCTING ARD EQUIPPING
A CITY LIBRARY BE SUBMITTED TO TUE =ERE OF
THE CITY OF .JACKSONVILLE, ARKANSAS AT A
SPECIAL ELECTION; PRESCRIBING OTHER MATTERS
RELATING THERETO; AND DECLARING AN EMERGENCY.
WHEREAS the City of Jacksonville. Arkansas is a city of the second class and has outstanding
no general obligation bonds under Amendment No. 13 to the Con$tltatulon of the State of Arkansas. and
WHEREAS the City Council has found and hereby declares that there in an immediate need for
the acquisition of a site for and the constructing and equipping of a city ball to house various
governmental departments of the City in order to properly and efficiently disoherge the business of
the City, and that there is an immediate necessity for the constructing and equipping of a city
library (the pity library is to be located in the present city hall building which will be re-
novated); and
micamB the estimated cost of acquiring a site for and constructing and equipping a city
hall in $110.000 and the estimated cost of oonstruoting and equipping a city library is 415,000; and
Yd3EREA8 the proposed above described improvements can be obtained only by the issuance of
general Obligation Bonds of the City under the provisions of Amendment No. 13 to the Constitxtiii of
The State of Arkansas;
NON, THEREFORE. BE IT CRDAINEV by the City Cmmail of the City of Jacksonville, Arkansas:
SECTION 1. That a special election be, and the same is hereby, called to be held in the
City of Jacksonville, Arkansas on the 6th day of June, 1959. at which election there sbnil be
submitted to the electors of the City the question of issuing 8130.000 in General Obligation Bonds
for the purpose of acquiring a site for and constructing and equipping a city ball and the question
of issuing 815,000 in General Obligation Bonds for the purpose of constructing and equipping a pity
library. The bonds for both purposes shall be dated Juno 1. 1959, with Interest thereon to be
payable semi- annually an January 1 and July 1 of each year. commencing January 1, 1960, and with
tho bonds to mature en July 1 of oaoh year as follows, but to be callable for payment prior to
maturity as shall be specified by the City in the notice of the nubile male of the hernias
41,000 in each of the years 1962 and 1963
82.000 in oaoh of the years 1964. 1965. 1966.
1967, 1968, 1969, and 1970
43,000 in each of the years 1971, 1972, 1973
and 1974
$19.000 in each of the years 1975, 1976, 1977
and 1978
85,000 in each of the years 1919, 1980, 1981,
1982, and 1983
$6,000 in eaoh of tho years 1986 1985 and 1986
87,000 in each of the years 19tT7, 1568, and 1989
88.000 in 1990
89,000 in 1991
In the event the bonds for both purposes are approved by the elective at the apoaial elootioa, they
shall be oombined into a single issue. In the event that bonds for only one of the above purposes are
approved by the electors at the special election. the bonds so approved will be issued with the above
maturity dates but with the amounts proportionately reduced. The bonds shall be sold at public sale
after advertisement as provided in Amendment No. 13 end may be sold with the privilege of conversion
to an issue bearing a lower rate of interest.
443
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ORDINANCE 110. 90 MTINUFU
SECTItti 2. That the said questions shall be planed car the ballot tar the special election
in aubetantially the following form:
Vote on measure by placing an °%° in the square
above the measure either far or against:
For the issuance of bonds
in the amount of $110,000
Agatnot the isnuanoe of bonds
in the amount of $110,000 / /
It is proposes to issue 3110,000 in General
Obligation Bennis payable serially an July 1,
1962 to 1991, inolueive, for the purpose of
acquiring a site for and oonwbruoting and
equipping a pity hall, The bonds may be sold
with the privilege of convernion to an issue
bearing a lower rate or rates of interest.
If approved by the electors, the City Council
will levy a continuing annual tag for the pur-
pose of paying the principal of and interest
on the bonds.
Voto an measure by placing an ° A ° in the square
above the measure either for or against:
For the issuance of bonds
in the amount of $15,000 / r
Against the Issuance of bonds
in the amount of $15,007 / /-- 7
It is proposed to issue $15,000 in General
Oblige$.ian Bonds payable serially on July 1.
196E to 1991, inclusive, for the purpose of
oonstruating and equipping a city library,
The bonds may be sold with the privilege of con-
version to an issue bearing a lower rate or
rates of interest. If approved by the electors.
the City Council will levy a continuing animal,
tea for the purpose of paying the principal of
and interest on the bonds.
In the evert that the bonds for both purposes
are approved by the electors, they shall bo oom-
bind into a single issue.
SECTION 3. That the election shall be held and conducted and the vote canvassed and the
results declared under the law and in the manner now provided for municipal elections. so far as the
same is applicable. and the Mayor of the City of Jacksonville is hereby authorised and directed to
give notice of such election by an advortisenwnt published weekly one a week for four times in
a newspaper published In the City of Jacksonville, Arkansas and having a bola fide circulation therein,
the last publication to be not leas than ten days prior to tho date of the election, and only qualified
voters of the City of Jacksonville, Arkansas shall have the right to vote at said election on said two
questions.
SECTIei 4. That the results of said election shall be proclaimed by the Mayor and his
proclamation shall be published one time in a newspaper published in the City of Jacksonville.
Arkansas and having a bona fide circulation therein, Which proclamation shall advise that the results
as proolaimod shall be conclusive unless attacked in the courts within thirty days after the date of
such proe)sratian.
SECTIOUlt That the Mayor is authorized to adverting, according to the terms or Amendment
No. 13 to the Constitution of the State of Arkansas, the public 'sale of the proposed bond issues.
SECTION 6. That a copy of this ordinance shall be given to the Pulaski Canty Board of
Election Commissioners so that the necessary election officials and supplies may be provided.
SuCTIItt 7. That all ordinances and parte thereof in conflict herewith are hereby repealed
to the extent of such conflict.
445
MGR 3
ORDINANCE N0. 98 CONTINUED
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SECTION 8. That there to hereby farad and deolared to be an immediate need for a oity hall.
in order that the various governmental departments my properly and efficiently discharge the business
of the City and for a city library in order that the education and oulture of the citizens may be
properly developed• and that said facilities can bo made available only by the isauanoe of the bonds
above referred to. It is, therefore, declared that an emergency exists and this ordinance being
necessary for the immediate preservation of the public peace. health and safety shall take effect
and be in forme from and after its passage.
PA SEED ¢ 16 April • 1959.
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APPRENEDe '" .�
1
( E. A. SCHMITT. 1WYC3.
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ATTEST:
SLOT Aa1118. CUT nzcatuER