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1203 O (""" ('~ r-. '(~ """ , J _~\;~,:,~ ORDINANCE NO. 1203 (# 11 - 03) AN ORDINANCE PROVIDING FOR I HE LEVY OF A ONE PERCEN I ! g('~J:=SALES AND USE I AX WI I HIN I HE CII Y OF JACKSONVILLE, ARKA./)/SAS; PRESCRIBING 0 I HER MA I I ERS PER I AINING i..) l,i\LL... t. .'c:OLJ"i~/fIEIlEr.Q; AND, FOR 0 I HER PURPOSES. ~ WHEREAS, the City Council of the City of jacksonville, Arkansas, (hereinafter referred to as the "City", has determined that there is a great need for funds to provide the matching funds needed to construct, develop, maintain, and operate a joint Education Center, an Outdoor Family Aquatics Center, a Training Facility for the jacksonville Police and Fire Departments, and other City capital improvements, together with the need to secure funds for the general operation and improvement of City facilities and services; and, WHEREAS, ACA ~ 14-154-320 (known as the ''Authorizing Legislation" provides for the levy of a One Percent (1%) Sales and Use Tax within the City (hereinafter referred to as the "Sales and Use Tax". NOW, THEREFORE, BE IT ORDAINED BY THE CII r' COUNCIL OF THE CII f OF JACKSONVILLE, ARKANSAS, THA T: SECTION ONE: Under the authority of the Authorizing Legislation, there is hereby levied a One Percent (1%) Sales Tax on the gross receipts from the sale at retail within the City limits items which are subject to the Arkansas Gross Receipts Act (ACA ~ 26 - 52 - 101 et. seq.) and the imposition of an Excise Tax (Use Tax) on the storage, use, distribution, or other consumption within the City of tangible personal property subject to the Arkansas Compensating Tax Act (ACA ~ 26 - 53 - 101 et. seq.) at a rate of One Percent (1 %) of the sale price of the property or, in the case of leases or rentals, of the lease or rental price (collectively, the Sales and Use Tax". The Sales and Use Tax shall be levied and collected only on the first Two Thousand Five Hundred Dollars ($2,500.00) for each single transaction. SECTION I WO: All Ordinances and parts thereof in conflict herewith are hereby repealed to the extent of said conflict. SECTION THREE: This Ordinance shall not take effect until an election is held on the question of levying the Sales and Use Tax at which time a majority of the electors voting on the question shall have approved the levy of the Sales and Use Tax. When such occurs, implementation of the levy would occur at the beginning of the next calendar year quarter. APPROVED AND ADOPTED THIS 18th DA Y OF SEPTEMBER, 2003. CII f OF JACKSONVILLE, ARKANSAS .,,.......-.'-~ . !,'1 '... /".) ) By: ;-t,~:,:r;;~~~~~o't~ I, ~i----- -----_..;;~. -------- f A I I NEY , "'-_..... . -.W