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ORDINANCE NO.
AN ORDINANCE CALLING A SPECIAL ELECTION TO VOTE ON
THE QUESTION OF ISSUING BONDS UNDER AMENDMENT NO.
13 TO THE CONSTITUTION OF THE STATE OF ARKANSAS FOR
THE PURPOSE OF REFUNDING OUTSTANDING GENERAL OBLI-
GATION BONDS OF THE CITY OF JACKSONVILLE, ARKANSAS;
ACQUIRING A SITE FOR, CONSTRUCTING, AND EQUIPPING A
CITY LIBRARY; ACQUIRING A SITE FOR, CONSTRUCTING, AND
EOUIPPING BUILDINGS FOR THE HOUSING OF FIRE FIGHTING
APPARATUS AND PURCHASING FIRE FIGHTING APPARATUS;
PURCHASING AND IMPROVING A CITY PARK, INCLUDING
CONSTRUCTING AND EQUIPPING A COMMUNITY CENTER AND
SWIMMING POOL THEREON; PRESCRIBING OTHER MATTERS
RELATING THERETO; AND DECLARING AN EMERGENCY.
WHEREAS, the City of Jacksonville, Arkansas (called "City ") is a
City of the first class; and
WHEREAS, the City has outstanding, under Amendment No. 13 to the
Constitution of the State of Arkansas, an issue of General Obligation Hospital
Bonds dated July 1, 1960 (called "1960 Bonds "); and
WHEREAS, the City Council has determined that it would be in the best
interest of the City to acquire a site for and construct and equip a city library,
at an estimated cost to the City of $82,000 (it being contemplated that a portion
of the cost of the city library will be financed by funds to be obtained from an
agency of the United States government); to acquire a site for and construct
and equip buildings for the housing of fire fighting apparatus, and to purchase
fire fighting apparatus, at an estimated cost to the City of $120,000; to purchase
and improve a city park, including constructing and equipping a community
recreational center and swimming pool, with appropriate fixtures and appurten-
ances, at a cost to the City of $118,000 (it being contemplated that a portion
of the cost of the city park will be financed by funds to be obtained from an
agency of the United States government); and to refund the 1960 Bonds, at an
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estimated cost to the City of $105,000; which estimates of cost include necessary
expenses incidental to the accomplishing of the improvements, to the refunding
of the 1960 Bonds, and to the issuance of bonds (hereinafter described); and
WHEREAS, the proposed improvements, described above, and the
refunding of the 1960 Bonds can be accomplished only by the issuance of
General Obligation Bonds (called collectively "bonds ") of the City, in a total
amount of $425,000, under the provisions of Amendment No. 13 to the Con-
stitution of the State of Arkansas;
NOW, THEREFORE, BE IT ORDAINED by the City Council of the City
of ja.cksonville, Arkansas:
Section 1. That there be submitted to the electors of the City at a
special election to be held on the day of , 1967,
the question of issuing bonds in the following amounts and for the following
specified purposes:
(a) $82,000 for the acquisition of a site for and the construction
and equipment of a city library;
(b) $120,000 for the acquisition of a site for and the construction
and equipment of buildings for the housing of fire fighting
apparatus, and for the purchase of fire fighting apparatus;
(c) $118,000 for purchasing and improving a city park, including
the construction and equipping of a community recreational
center and swimming pool, with appropriate fixtures and
appurtenances;
(d) $105,000 for the refunding of the 1960 Bonds.
The bonds issuance of which is contemplated for the purposes set
forth above in (a). (b) , and (c) of this Section 1 shall be hereinafter called
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".'Irnprovement Bonds" . The bonds issuance of which is contemplated for the
purpose set forth above in (d) of this Section 1 shall be hereinafter called
"Re €undina Bonds ",
The City Council has thoroughly investigated the proposals
and in its considered Judgment believes that all are essential to the health,
safety and welfare of the citizens. Due to the constitutional limitation
on available millage, the proposed financing method is the only way that
sufficient funds can be obtained for all of the proposals in that the refunding
of the 1960 Bonds will release the miilage pledged to those bonds (together
with the additional millage available under the Constitution) for the financing
of the present proposals, which released millage will support additional
principal amount of bonds because of increased assessed valuation since 1960.
If less than all of the proposals are approved the City Council will have to
reevaluate the feasibility of proceeding with only part of the proposals
because this may result in necessarily committing more Silage than is
required. Nevertheless, the Constitution does specify that each proposal
must be voted on separately and for that reason the ballot is to set forth
an opportunity for a separate vote.
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• AMOUNT
1971 $ 5,000
1972 5,000
1973 6,000
• 1974 • 6,000
1975 7,000
1976 • 7,000
1977 8,000 .
1978 8,000
1979 9,000
1980 10,000
1981 10,000
1982 11,000 .
1983 12,000
1984 13,000 .
1985 14,000
1986 14,000 .
1987 15,000 •
1988 16,000
1989 17,000
1990 . 18,000
1991 19,000 •
1992 20,000
• 1993 . 22,000
1994 24,000
1995 26,000
1996 28,000
1997 • 29,000
1998 • 46,000
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Section 3. The question shall be placed on the ballot for the election
in substantially the following form:
Vote on each measure by placing an "X" in the
square opposite the measure for or against:
For an issue of bonds in the amount of $82,000
for the acquisition of a site for and the construction
and equipment of a city library
Against an issue of bonds in the amount of $82,000
for the acquisition of a site for and the construction
and equipment of a city library CJ
For an issue of bonds in the amount of $120,000
for the acquisition of a site for and the construction
and equipment of buildings for the housing of fire
fighting apparatus, and the purchase of fire fighting
apparatus /
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Against an issue of bonds in the amount of $120,000
for the acquisition of a site for and the construction
and equipment of buildings for the housing of fire
fighting apparatus, and for the purchase of fire
fighting apparatus . . . . . . . . . . . . . . . . . . . . . .
For an issue of bonds in the amount of $118,000 for
purchasing and improving a city park, including
constructing and equipping a community recreational
center and swimming pool, with appropriate fixtures
and appurtenances
Against an issue of bonds in the amount of $118,000
for purchasing and improving a city park, including
constructing and equipping a community recreational
center and swimming pool, with appropriate fixtures
and appurtenances L7
If bonds for one or more of the above set forth purposes
are approved by the electors, they will be combined into
one issue together with refunding bonds in the amount of
$105,000 to refund the outstanding bonds of the City of
Jacksonville General Obligation Hospital Bond Issue
dated July 1, 1960, which combined issue of bonds
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will mature serially on February 1 in each of the years
1971 to 1997, inclusive. In the event bonds are approved
for fewer than all of said purposes, the improvement bonds
for the purposes approved and the refunding bonds, in com-
bined issue, will be issued with the same maturity dates
but for proportionately less amounts. It is contemplated
that a part of the cost of the city library and the city park will
be financed by matching funds to be obtained from an agency
of the United States government. The City Council will levy
and there will be collected a continuing annual tax in an amount
sufficient to insure the payment of the principal of and interest
on the bonds that are issued. The bonds that are issued will
bear interest at the rate accepted by the City at the public
sale of the bonds, and may be sold with the privilege of
conversion. The bonds shall be callable for payment prior
to maturity upon the terms specified in the Notice of Public
Sale of the bonds.
The bonds shall be sold at public sale and shall bear interest at such rate or
rates as are accepted by the City at the sale and may be sold with the privilege
of conversion to an issue bearing a lower rate or rates of interest. Any con-
version must be upon such terms that the Cit y receives no less and pays no
more than it would receive and pay if the bonds were not converted. The
conversion shall be subject to the approval of the City Council, the City's
fiscal agent, and the Paying Agent for the bonds. The Refunding Bonds, in
the amount of $105,000, will be issued only in the event issuance of
Improvement Bonds is approved for one or more of the purposes set forth in
Section 1 of this Ordinance. If any Improvement Bonds are approved, those
approved will be combined into a single issue with the Refunding Bonds.
If less than all Improvement Bonds are approved, there will be a proportionate
reduction in the maturity schedule, and the bonds will be issued with the
same maturity dates but for proportionately less amounts.
Section 4, 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 authorized and directed to give
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notice of such election by an advertisement published weekly once a week for
four times in a newspaper published in the City of Jacksonville, Arkansas
and having a bona fide circulation therein, the last publication to be not less
than ten days prior to the 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 question.
Section 5. 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 pro-
claimed shall be conclusive unless attacked in the courts within thirty days
after the date of such proclamation.
Section 6. That the Mayor is authorized to advertise, according to
the terms of Amendment No. 13 to the Constitution of the State of Arkansas,
the public sale of the proposed bond issue.
Section 7. That a copy of this ordinance shall be given to the
Pulaski County Board of Election Commissioners so that the necessary election
officials and supplies may be provided.
Section 8. That all ordinances and parts thereof in conflict herewith
axe hereby repealed to the extent of such conflict.
Section 9. That it is hereby ascertained and declared that there is
an immediate and urgent need for a city library, city fire stations and fire
fighting apparatus, and a city park, including a community recreational center
aid swimming pool, in order to promote and protect the health, safety and
welfare of the City and its Inhabitants, and that these improvements can
be accomplished only by the issuance of bonds. It is, therefore, declared
that an emergency exists and this ordinance being necessary for the immediate
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preservation of the public peace, health, and safety shall be in force and
take effect immediately from and after its passage.
PASSED:
APPROVED:
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ATTEST:
city clerk
(SEAL)
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CERTIFICATE
STATE OF ARKANSAS )
)
COUNTY OF PULASKI )
I, the undersigned, City Clerk of the City of Jacksonville, Arkansas,
do hereby certify that the foregoing is a true, correct and compared copy of
Ordinance No.• passed by the City Council and approved by the
Mayor of the City of Jacksonville, Arkansas on the day of
19s, and that the same now appears of record in my office, in Ordinance
Book No. at page r:.; >::=
IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed
the seal of the City of Jacksonville, Arkansas, this J C '
day of " a :exe,: ego-
19 e•• r
City Clerk
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(SEAL)
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