Loading...
0507 ORDINANCE NO. 5 0 7 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 TO PAY THE PRINCIPAL AND INTEREST ON SEVERAL OBLI- GATION IMPROVEMENT 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 1979; FOR THE PURPOSE OF EFFECTING CERTIFICATION OF THE COUNTY CLERK OF PULASKI COUNTY OF THE TAX LEVIED; PRESCRIBING OTHER MATTERS PERTAINING THERETO; AND DECLARING AN EMERGENCY. WHEREAS, it is necessary to meet current obligations and expenses of the City of Jacksonville, 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 1979; 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 determine the question of levying a tax of one -half (k) mill on all real and personal property within the City for the purpose 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 1979; 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 determine the question of levying a tax of one -half (2) mill on all real and personal property within the City for the purpose of establishing and funding a Policemen's Pension and Relief Fund; and an election was subsequently held at which the qualified electors of the City voted in favor of that tax to be collected with the taxes collected in 1979; and, WHEREAS, Ordinance No. 179, dated August 25, 1966, was passed by the City Council of the City authorizing the issuance of Industrial Development Bonds, under Amendment No. 49 of the ORDINANCE NO. 5 0 7 PAGE 2. Constitution of the State of Arkansas, levying a tax sufficient to pay the principal of and interest on these Industrial Develop- ment Bonds; and finding that a levy of three and one -half (31/2) 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 1978 and to be collected during the year 1979 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 collected in 1979. NOW, THEREFORE, BE IT ORDAINED by the City Council of Jacksonville, Arkansas: SECTION 1. That a tax of six (6) mills on each dollar of assessed valuation of all real and personal property within th City, be and hereby is levied by the City Council of the City to be collected with the taxes collected in the year 1979 for the purpose of general revenues, funding Firemen's Relief and Pension Fund, and funding Policemen's Pension and Relief Fund. SECTION 2. That the tax of three and one -half (3) mills on each dollar assessed valuation of all real and personal property within the City for the purpose of paying the principal of and interest on Industrial Development Bonds under Amendment No. 49 of the Constitution of the State of Arkansas, be and that tax is suspended for the year 1978 and shall not be collected in the year 1979. SECTION 3, That in order to pay the aforementioned Bonds as they mature, with interest thereon, there is hereby levied upon ORDINANCE NO. 5 0 PAGE 3. all taxable real and personal property within the City a tax of 21/2 mills on each dollar of assessed valuation, to be collected with the taxes collected in the year 1979. 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 (8i) 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 1979. It is, therefore, declared that an emergency exists and this Ordinance shall be in force and take effect immediately upon its passage. 7th September PASSED this day of , 1978. CITY OF JACKSONVILLE, ARKANSAS 2/ .1".---117'4( 4C17 MA OR ATTEST: y r/ 2 CITY CLERK APPROVED AS TO FORM: Ponall C. Mills, City Attorney C E R T I F I C A T E I, Floy Avants, City Clerk of Jacksonville, Arkansas, hereby certify that the foregoing pages are a true and compared copy of Ordinance Number 507 adopted at a Regular ^ession of the City Council of Jacksonville, Arkansas, held at the regular meeting place of the Council in the City of Jacksonville, at 7:00 F . M., on the r day of 51 9 d:. 1978, and that the Ordinance is of record in Ordinance Record Book No. 2 at page ; , now in my possession. _ GIVEN under my hand and seal this day of 1978. Floy Avants CITY CtERK OP JACKSONVILLE, ARKANSAS (SEAL) 7 1 7 � `d � .. _ /� f ! Ca. � �'` / ., •