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ORDINANCE NO.8 32(#23-86)
AN ORDINANCE DETERMINING THE NECESSITY OF ENTERING INTO A
LEASE-PURCHASE AGREEMENT IN THE AMOUNT OF $1,423,000.00 BY THE
CITY OF JACKSONVILLE, ARKANSAS, WITH THE ARKANSAS SOIL AND WATER
CONSERVATION COMMISSION FOR THE PURPOSE OF PURCHASING
IMPROVEMENTS TO THE CITY'S WATER SYSTEM; CALLING A SPECIAL
ELECTION FOR NOVEMBER 18, 1986; PLACING THIS QUESTION OF ENTERING
INTO THE LEASE-PURCHASE AGREEMENT ON THE BALLOT OF THE NOVEMBER
18, 1986 SPECIAL ELECTION; DECLARING AN EMERGENCY: AND FOR OTHER
PURPOSES.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
JACKSONVILLE, ARKANSAS, THAT:
SECTION 1. The City Council hereby determines that
entering into a Lease-Purchase Agreement in the amount of
$1,423,000.00 with the Arkansas Soil and Water Conservation
Commiss ion is necessary for the purpose of purchas ing imp.rove-
ments and betterments to the City's Water System. Said
Lease-Purchase Agreement shall be secured by a pledge of the
revenues of the City's Water System, all as more specifically
provided and described in subsequent ordinances of City providing
for the Lease-Purchase Agreement.
SECTION 2. We hereby call a special election for November
18, 1986, for the purpose of deciding this issue. At the special
election on November 18, 1986, the question of entering into a
Lease-Purchase Agreement in the amount of $1,423,000.00 with the
Arkansas Soil and Water Conservation Commission by the City of
Jacksonville, Arkansas, for the purpose of purchasing improve-
ments and betterments to the City's Water System, said
Lease-Purchase Agreement to be secured by a pledge of the reve-
nues of the City's Water System, will be placed on the ballot.
SECTION 3. The question shall be placed on the ballot for
election in substantially the following form:
There is submitted to the qualified electors of the
City of Jacksonville, Arkansas, the question of
entering into a Lease-Purchase Agreement in the
amount of $1,423,000.00 with the Arkansas Soil and
Water Conservation Commission, or such lesser amount
as shall be determined by the City Council of the City
of Jacksonville, for the purpose of purchasing
improvements and betterments to the City's Water
System, said Lease-Purchase Agreement to be secured
by a pledge of the revenues of the City's Water
System, such revenues to be pledged to pay the
principal of, interest on, and fees and expenses in
connection with said Lease-Purchase Agreement.
Vote on the question by placing an "X" in one of the
following squares, either for or against:
FOR entering in to the Lease-Purchase Agreement in
the amount of $1,423,000.00
~ AGAINST entering into the Lease-Purchase Agreement
. in the amount of $1,423,000.00
SECTION 4. Notice of the election shall be given by the
City Clerk by publication of a notice at least ten (10) days
prior to the date of the election in a newspaper of general cir-
culation within the City. No other notice by any other public
official shall be required. The Election shall otherwise be held
and conducted and the vote cast and the results declared in the
~)
manner provided for municipal elections under the election laws
of the State then in effect. Only qualified electors of the
City shall have the right to vote at the election.
SECTION 5. A copy of this Ordinance shall be furnished to
the Pulaski County Board of Election Commissioners so that it may
place the question on the ballot for the election, provide the
proper election officials and supplies, and canvas the vote on
the question.
w:
SECTION 6. The results of the election, after the vote has
been canvassed by the Pulaski County Board of Election
Commissioners, shall be proclaimed one time in a newspaper having
general circulation in the City. The results as proclaimed by
the Mayor shall be conclusive unless attacked in the Circuit Court
of Pulaski County within thirty (30) days after the date of
publication of the proclamation.
SECTION 7. Any ordinances or parts of ordinances in
conflict with -the provisions of this ordinance are hereby
repealed to the extent of such conflict.
SECTION 8. The City Council hereby determines that the City
of Jacksonville is in dire need of additional improvements and
betterments to the City's Water System; that an appropriate way
to provide such improvements and betterments is by the
purchasing of said improvements and betterments from revenues of
the Water System, as authorized by the Constitution and laws of
the State of Arkansas; and that this ordinance shall be given
immediate effect so that the essential improvments and better-
ments to the City's Water System may be constructed as soon as
possible. Therefore, an emergency is hereby declared to exist
and this Ordinance, being necessary for the immediate preservation
of the public health, safety, and welfare, shall be in full force
and effect from and after its passage and approval.
APPROVED AND ADOPTED THIS 'lOth DAY OF
1986.
OctobeA
ATTEST:
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LU~jM. LEONARD, ~TY CLERK
APPR7 AS TO F~RM:
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