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1028 S2 ORDINANCE NO. 1028 (#11-94) AN ORDINANCE PROVIDING FOR THE SUBMISSION TO THE QUALIFIED VOTERS OF THE CITY OF JACKSONVILLE, ARKANSAS, THE QUESTION OF INCREASING THE LEVY OF AN ANNUAL TAX SO AS NOT TO EXCEED ONE MILL ON THE ASSESSED VALUE OF THE REAL AND PERSONAL PROPERTY WITHIN THE CITY OF JACKSONVILLE FOR THE PURPOSE OF PAYING PENSIONS TO RETIRED FIREMEN AND PENSIONS TO WIDOWS AND/OR MINOR CHILDREN OF DECEASED AND/OR RETIRED FIREMEN; DECLARING AN EMERGENCY; AND, FOR OTHER PURPOSES. ----~----~--~~-~-~--~~------~--~----~---~-----~--------~----~ ----~----~-----~~----~~----~--~~---~~--~--~~----~~-~--~~----~ WHEREAS, the City of Jacksonville, Arkansas, is a City of the First Class and is authorized by Amendment 31 to the Constitution of the state of Arkansas to levy an annual tax not to exceed one mill on the dollar upon the assessed value of the real and personal property of said City for the purpose of paying firemen's retirement pensions, pensions to widows and minor children of deceased firemen; and, pensions to widows and minor children of deceased retired firemen; and, WHEREAS, the current levy of .5 mill, approved by the voters in 1962 but reduced by reevaluation to .3 by state and County governments in 1988, does not provide sufficient income for the Pension Fund to become actuarialy sound and will resul t in a deficiency upon the retirement of approximately fifty-five percent (55%) of the current members of the plan. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF JACKSONVILLE, ARKANSAS, THAT: SECTION ONE: There shall be submitted to the qualified voters of the City of Jacksonville, Arkansas, at the general election to be held on the eighth day of November, 1994, the question of an increase to the levy of an annual tax not to exceed one mill on the dollar upon the assessed value of the real and personal property within the City for the purpose of paying pensions to retired firemen, pensions to widows and minor children of deceased firemen, and pensions to widows and minor children of deceased retired firemen. SECTION TWO: The ballot title shall appear as follows: "The Question of Increasing the Levy of an Annual Tax so as Not to Exceed One Mi lIon the Doll ar Upon the Assessed Value of the Real and Personal Property Within the City of Jacksonville, Arkansas, for the Purpose of Paying Pensions to Retired Firemen, Pensions to Widows and Minor Children of Deceased Firemen, and Pensions to Widows and Minor Children of Deceased Retired Firemen." "FOR INCREASE OF FIREMEN'S PENSION MILLAGE" "AGAINST INCREASE OF FIREMEN'S PENSION MILLAGE" SECTION THREE: In the event of approval of said increase in tax levy by the qualified voters of the City of Jacksonvi 11 e, Arkansas, such steps shall be taken as are necessary to comply with the will of the citizens expressed in said election. SECTION FOUR: The City Clerk shall cause this Ordinance to be published and shall file a certified copy of this Ordinance with the County Board of Election Commissioners in order that this issue be placed on the General Election Ballot for November 8, 1994. 53 Ordinance 1028 (#11-94) Page Two SECTION FIVE: All Ordinances, or parts thereof I in conflict with this Ordinance are hereby repealed to the extent of that conflict. SECTION SIX: Because conditions affecting the Firemen's retirement pension needs are of such a timely nature, it is hereby necessary to the health, safety, and welfare of the citizens of Jacksonville, Arkansas, that an emergency hereby be declared. As such, this Ordinance shall take effect immediately upon its passage and its publication, as provided by applicable law. APPROVED AND ADOPTED THIS ~ DAY OF AUGUST, 1994. ( TOMMY ,~ CA/~ M ydR' ATTEST: ~ ,fJ LZ&RD' CPrY CLERK (~(iJ t.{~ ROBER' E. BAMBURG(J ATTO CERTIFICATE The undersigned, City Clerk of the City of Jacksonville, Arkansas, hereby certifies that the foregoing pages are true and perfect copy of Ordinance No. 1028 (#11-94), adopted at a regular session of the City Council of the City of Jacksonville, Arkansas, held at the regular meeting place in the City at seven o'clock p.m., on the ,~~ day of August, 1994, and that the Ordinance is of record in Ordinance Book No. 10 at Page 5""2 ,.53 I now in my possession. GIVEN under my hand and seal on this August, 1994. $-tJ., day of i~L~~R~~