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1254 RECEIVED ijU~AS< COUNTY 5!:J-3!OfJ . ~~ EI_ECT'ON COM_v1_SS_0~ OOO(J~75 ORDINANCE NO. 1254 (#16 - 05) AN ORDINANCE TO CALL A SPECIAL ELECTION ON THE QUESTON OF LEVYING AN ANNUAL AD VALOREM TAX LEVY AT THE RATE OF ONE (1.0) MILL FOR THE ACQUISITION, CONSTRUCTION, AND EQUIPPING OF LAND AND CAPITAL IMPROVEMENTS FOR THE CITY'S PUBLIC LIBRARY, WHICH TAX WILL EXPIRE UPON PAYMENT IN FULL OF BONDS TO WHICH IT IS PLEDGED; SAID AD VALOREM TAX TO BE PLEDGED TO AN ISSUE OR ISSUES OF BONDS OF THE CITY OF JACKSONVILLE, ARKANSAS, ISSUED UNDER AMENDMENTS NOS. 30 AND 72 OF THE CONSTITUTION OF THE STATE OF ARKANSAS AND ACT 920 OF 1993, NOT TO EXCEED $2,500,000 IN AGGREGATE PRINCIPAL AMOUNT TO FINANCE THE COST OF ACQUIRING, CONSTRUCTING, AND EQUIPPING LAND AND ADDITIONAL CAPITAL IMPROVEMENTS FOR THE PUBLIC CITY LIBRARY OPERATED BY THE CITY OF JACKSONVILLE AND THE CENTRAL ARKANSAS LIBRARY SYSTEM; PRESCRIBING OTHER MATTERS PERTAINING THERETO; AND, DECLARING AN EMERGENCY. WHEREAS, the City of Jacksonville, Arkansas (the "City") is a city of the first class; WHEREAS, t le City Council has determined that it would be in the best interests of the City to acquire, construct, and equip land and additional ca Jital improvements for a city library and re ated facilities (the "Improvements") at an estimated cost not to exceed Two Million Five Hundred Thousand Dollars ($2,500,000); WHEREAS, it las Jeen determined t lat t le cost of t le Improvements, inc uding incidental expenses and expenditures in connection with accom Jlishing the Improvements and ex Jenses in connection with authorizing and issuing the bonds (lereinafter defined) can be financed JY t le issuance of bonds in one or more series in the principal amount not to exceed Two Million Five Hundred Thousand Dollars ($2,500,000); WHEREAS, tle bonds can Je issued under tle autlority of Amendments Nos. 30 and 72 to the Constitution of the State of Arkansas (the "Amendments") and Act No. 920 of the Acts of Arkansas of 1993, a) Jroved April 7, 1993 ("Act No. 920"); WHEREAS, the City can pay the principal of and interest on the bonds from the proceeds of an ad va orem tax not to exceed One (1.0) mi on tle do lar of the assessed va ue of taxa J e rea and persona property tax in t le City to be evied under t le aut lority of the Amendments and Act No. 920, w lic, tax will expire upon payment in full of the bonds; and, WHEREAS, the purpose of this Ordinance is to submit to the electors of the City the question of issuing bonds under the Amendments and Act No. 920 at a Special Election to be le d on Tuesday, Ju y 5, 2005, and to levy and extend the OOOO~76 ORDINANCE NO. 1254 (#16 - 05) PAGE TWO existing library capita improvement ad va orem tax to be collected at t le rate of not to exceed One (1.0) mi on tle do ar of tle assessed va ue of tle taxa J e rea and personal property within the City (the '"I ax"). NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF JACKSONVILLE, ARKANSAS, THAT: SECTION ONE: T lere be and hereby is called a Special Election to be held on Tuesday, July 5, 2005, at w lic 1 election there sha I be submitted to the electors of the City of Jacksonville, Arkansas, the question of issuing bonds under the Amendments and Act No. 920 for the Jur Joses s Jecified in Section Two hereof. The maximum rate of t le tax to retire the bonds shall be stated on the Jallot. SECTION TWO: The ballot shall be in substantially the following form: PROPOSED PUBLIC LIBRARY CAPII AL IMPROVEMENTS: AUTHORIZA lION OF BONDS FOR THE JACKSONVILLE PUBLIC LIBRARY CAPll AL IMPROVEMENTS PROJEL I TO FINANCE THE ACQUISIIION, CON~ I KUllION, AND EQUIPPING OF LAND AND ADDIIIONAL CAPII AL IMPROVEMENTS, TOGt: I HER WI I H APPROVAL TO PLEDGE RECEIPTS FROM AN AD VALOREM TAX OF ONE (1.0) MILL FOR PAYMENT I HEREOF. The issuance of bonds by the City of Jacksonville in the aggregate principal amount of up to Two Mi ion Five Hundred Thousand Do lars ($2,500,000.00) for the purpose of paying the costs of acquiring, constructing, and equipping land and additional capital improvements for the Jublic library owned and operated by the City of Jacksonville and tle Centra Arkansas Library System. Approva slall aut lorize t le City Counci to p edge a of t le receipts from an ad va 'orem tax evied by the Jacksonville City Council at the millage rate of One (1.0) mill on the dollar of the assessed value of all real and Jersonal Jro Jerty subject to taxation in the City, and said tax shall expire upon payment in full of the principal of and interest on the bonds and all fees and expenses in connection therewith. Vote on measure JY placing an "X" in tle square opposite the measure either for or against: FOR the levy of the library tax at the rate of One (1.0) mill on real and persona pro Jerty within t le City of Jacksonvil e, Ar <ansas, to Je pledged to an issue or issues of bonds not to exceed Two Million Five Hundred Thousand Dollars ($2,500,000) in the aggregate principal amount to finance t le acquiring, constructing, anc equipping of land and additiona capita improvements for a PU-) ic city -i Jrary owned and operated JY t le City of Jac <sonvi Ie and t le Central Arkansas Library System and to authorize the issuance of the bonds on such terms and conditions as s lall be a Jproved by the City. . . . . . . . . . . . . . . . . . . . . " . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . " . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . OOOO~7? ORDINANCE NO. 1254 (#16 - 05) PAGE THREE AGAIN~ I tle evy of tle i Jrary tax at the rate of One (1.0) mill on real and persona property wit 1in t le City of Jac <sonvi e, Ar <ansas, to be pledged to an issue or issues of Jonds not to exceed Two Mi ion Five Hundred Thousand Dollars ($2,500,000) in the aggregate principal amount to finance t le acquiring, constructing and equip Jing of land and additional capital improvements for pu J ic city library owned and operated by the City of Jacksonville and the Central Ar <ansas Li Jrary System and to aut lorize the issuance of the bonds on suc 1 terms and conditions as s 1a Je approved JY t le City. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SECTION THREE: A co JY of t lis Ordinance shall be given to the Pulaski County Board of Elections Commission so t lat the necessary election officials and supp ies may be provided. SECTION FOUR: T le City C er < is aut lorized and directed to give notice of the election as required by law. SECTION FIVE: The specia e ection s la Je held and conducted and the vote canvassed and the results declared under the law and in the manner now provided for specia elections, unless otherwise provided in the Amendments and Act No. 920. On y qua ified e ectors of the City s lall have the right to vote on the question. SECTION SIX: The results of the election shall be certified by the Election Commissioners and proc aimed by the Mayor, anc his Proclamation shall be published one time in a newspaper having genera circulation in the City. The Proc amation s la advise that the results, as proclaimed, shall be conclusive unless suit cha enging tle resu ts is fi ed in tle Circuit Court of Pulaski County within Thirty (30) days after the date of publication. SECTION SEVEN: The Mayor and City Clerk, for and on behalf of the City, be and they are 1ereby aut lorized and directed to do any and all things necessary to call and hold the Special Election as herein provided and, if the issuance of the Bonds is approved by the electors, to cause the Tax to be collected in accordance witl tle Constitutional Amenc ments anc Act 920 of 1993 and to perform all acts of whatever nature necessary to carry out t le aut lority conferred by t lis Ordinance. SECTION EIGHT: All ordinances and Jarts thereof in conflict herewith are lere JY repealed to t le extent of such conflict. SECTION NINE: EMERGENCY. It is hereby ascertained and declared tlat t lere is an immec iate need for t le City to fund the acquisition, construction, and equipping of and and additiona capita improvements for t 1e City's pu Jlic Ii Jrary which can be accomplis led wit 1 the evy of tle proposed One (1) mi ad va orem OOOO~78 ORDINANCE NO. 1254 (#16 - 05) PAGE FOUR tax. Time is of t le essence to pace t le question Jefore t le voters at a Specia E ection ca ec for Tuesday, July 5, 2005. It is, t lerefore, c ec ared t lat an emergency exists, and this Ordinance, being necessary for the immediate preservation of pu Jlic peace, lea t 1, anc safety, s la Je in fu I force and ta <e effect immediately from and after its passage. Lll Y OF JACKSONVILLE, ARKANSAS 1 r h~ , MAYOR ) '" _. \ '.\\ ..)J ~\)~ SUS~A VII 1,61 '( CLERK A I I E~ I : OOOO~79 CERTIFICATE ~ I A II: OF ARKANSAS ) COUNTY OF PULASKI ) Cll Y OF JACKSONVILLE ) I, Susan Davitt, City Clerk within and for the aforesaid City, do lereby certify tlat tle foregoing is a true anc correct copy of Ordinance No. 1254 (#16-05) of tle Ordinances of t le City of Jac <sonvi e, Ar <ansas, entit ed: QUE~ lION OF LEVYING AN ANNUAL AD VALOREM TAX LEVY AT I HE RATE OF ONE (1.0) MILL FOR THE ACQUISll ION, CONSTRUe lION, AND EQUIPPING OF LAND AND CAPll AL IMPROVEMENTS FOR THE Cll VIS PUBLIC LIBRARY, WHICH TAX WILL EXPIRE UPON PAYMEN I IN FULL OF BONDS TO WHICH 11 IS PLEDGED; SAID AD VALOREM TAX TO BE PLEDGED TO AN ISSUE OR ISSUES OF BONDS OF THE Cll Y OF JACKSONVILLE, ARKANSAS, ISSUED UNDER AMENDMENTS NOS. 30 AND 72 TO I HE CON~ 111 U lION OF THE ~ I A I t: OF ARKANSAS AND AL I 920 OF 1993, NOT TO EXCEED $2,500,000 IN AGGREGA II: PRINCIPAL AMOUNT TO FINANCE I HE CO~ I OF ACQUIRING, CON~ I KUt lING, AND EQUIPPING LAND AND ADDIIIONAL CAPll AL IMPROVEMENTS FOR I HE PUBLIC III Y LIBRARY OPERATED BY I HE Lll Y OF JACKSONVILLE AND THE CENTRAL ARKANSAS LIBRARY SY~ I EM; PRESCRIBING OTHER MA I I ERS PERTAINING I HERt: I 0; AND, DECLARING AN EMERGENCY, passec )y t le City Counci of t le City on Jac <sonvi e, Ar <ansas, on May 19, 2005, said Ordinance now appearing of record in t lis office. \. IN WI I NESS WHEREOF, I have hereunto set my hand and seal of office on this tqLrt day of May, 2005. ... < -;. .~ susan)}~~itY CI rF C~f Jacksonvill ,Arkansas