1587ORDINANCE NO.: .587 (#09.2018)
AN ORDINANCE AMENDING ORDINANCE NO. 1532 (#12-2015)
AUTHORIZING APPROVAL QF. MODIFICATIONS OF EXPENDITURES UNDER
THE 2015 BOND ISSUE BY THE CITY OF JACKSONVILLE, ARKANSAS;
PRESCRIBING OTHER MATTERS RELATING THERETO; AND, DECLARING
AN EMERGENCY.
WHEREAS, pursuant'to the provisions of Ordinance No. 1532 (#12=2015) of the
City of Jacksonville, Arkansas (the "City"), adopted. and approved on August. 15, 2015,
the City previously issued its Capital Improvement and. Revenue Refunding Bond, Series
2015, in the aggregate principal amount of Eight Million Eight Hundred Fifteen.
Thousand and No/100 Dollars ($8;815,000..00).(the "Series 2015 Bonds");
WHEREAS, subsequent to `the adoption of Ordinance No. 1532 (#12-2015) and
pursuant to the terms of the Ordinance and Bond issue, additional capital expenditures
and. modifications as to capital improvement priorities requires an Ordinance to approve
modifications of any expenditures under said Bond Issue;
WHEREAS, modifications. will include but.. are not .limited to the following:
purchase of an ambulance for the Jacksonville Fire Department; Design and preliminary
engineering costs for the Loop Road Overpass Project; and, Design and preliminary
engineering costs for the Oneida Street Bridge Replacement Project; and,
WHEREAS, this Ordinance is presented for the sole purposes of modifying
expenditures authorized under Ordinance No. 1.532 (##12-2015) only.
NoWz THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OFJACKSONIIIILLF ARKANSAS THA'
SECTION ONE: Ordina.hce. No. 1532 (#12-2015.) is hereby amended
for the sole purpose.. of inclusion of capital expenditures for the design. and preliminary
engineering costs for the Loop Road Overpass Project [estimated to be approximately
One Hundred Fifty Thousand Dollars (One.. Hundred Fifty Thousand Dollars
($150,000.00)], design and preliminary engineering costs for the Oneida Street Bridge
Replacement Project [City :of Jacksonville's share estimated to :be approximately Forty
Thousand Dollars x$40,000.00)], an ambulance purchase [estimated to. be
approximately Two Hundred Thirty Thousand Dollars ($230,000.00)], and other such
expenditures as originally authorized under the terms of Ordinance. No.. 1.532 (#12-
N15.).
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ORDINANCE No 1587 (#09-2018)
Page Two
SECTION TWO: The City reallocates and modifies the original
expenditures authorized under the terms of :Ordinance 1532. (#12-2015) to. include the
costs and substitutions as designated above. as. authorized expenditures from Bond
Revenues of the City's Revenue Saries 2015 Bonds. As well, being removed from
consideration of funding under the City's Series 2015 Bonds, will be roundabout
construction costs for the City's proposed development of the General Samuels/Harris
Road Roundabout Project, which has now been delayed in implementation for another
time/revenue source.
SECTION THREE; Except as set forth herein; all other terms and
obligations of Ordinance No. 1532 (#12-2015). shall remain the same as set forth
therein.
SECTION FOUR It is necessary to accurately state the terms ,and
improvements authorized by the.City and the terms of Ordinance 1532 (#12-201..5). 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 force from and after its passage.
APPRO VED AIVD ADOPTED THIS 7rH DA Y OFJONAl 2018-
CITY.
ATTEST'
JACKSONVILLE; ARKANSAS
Susan D vift, City Clerk/Treasurer
APPROVED AS TO FORM