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0724 ~ ORDINANCE NO. 7 2 4 AN ORDINANCE FOR THE PUSPOSE OF LEVYING FIVE MILLS, ONE-HALF MILL AND ONE-HALF MILL TOTALING SIX MILLS AGAINST PERSONAL AND REAL PROPERTY WITHIN THE CORPORATE LIMITS OF THE CITY OF JACKSONVILLE, ARKANSAS; FOR THE PURPOSE OF LEVYING A TAX SUFFICIENT TO PAY THE PRINCIPAL AND INTEREST ON GENERAL OBLI- GATION IMPROVEMENT BONDS OF THE CITY OF JACKSONVILLE, ARKANSAS; FOR THE PURPOSE OF SUSPENDING THREE AND ONE-HALF MILLS TAX FOR INDUSTRIAL DEVELOPMENT BONDS FOR THE YEAR 1984; FOR THE PURPOSE OF EFFECTING CERTIFICATION OF THE COUNTY CLERK OF PULASKI COUNTY OF THE TAX LEVIED; PRESCRIBED OTHER MATTERS PERTAINING THERETO; AND DECLARING AN EMERGENCY. WHEREAS, it is necessary to meet current obligations and expenses of the City of Jacksonville, Arkansas (called "City"), to levy upon all real and personal property within the City, a tax of five (5) mil1s to be collected with the taxes collected in the year 1984; and, WHEREAS, Ordinance No. 172, dated May 19, 1966, was passed by the City Council of the City and called for a special election, to determine the question of levying a tax of one-half (1/2) mill on all real and personal property within the City for the purpose of establishing and funding a Firemen's Relief and Pension Fund; and an election was subsequently held at which the qualified electors of the City voted in favor of that tax to be collected with the taxes collected in the year 1984; and, WHEREAS, Ordinance No. 172, dated May 19, 1966, was passed by the City Council of the City, and called for a special election to determine the question of levying a tax of one-half (1/2) mil1 on all real and personal property within the City for the purpose of establishing and funding a policemen's Pension and Relief Fund; and an election was subsequently held at which the qualified electors of the City voted in favor of that tax to be collected with taxes collected in 1984; and, WHEREAS, Ordinance No. 179, dated August 25, 1966, was passed by the City Council of the City authorizing the issuance of Industrial Development Bonds, under Amendment No. 49 of the Constitution of the State of Arkansas, levying a tax sufficient \~~ ORDINANCE NO. 724 PAGE TWO to pay the principal of and interest on these Industrial Develop- ment Bonds; and finding that a levy of three and one-half (3 1/2) mills would be sufficient to pay these sums; and, whereas, it will not be necessary to levy and tax upon the real and personal property assessed during the year of 1983 and to be collected during the year 1984 for the payment of these Industrial Development Bonds; and, WHEREAS, the City of Jacksonville, Arkansas, has issued bonds under Amendment No. 13 to the Constitution of the State of Arkansas; and, WHEREAS, it is necessary that the City levy a tax suf- ficient to pay the Bonds as they mature, with interest thereon, in time for the tax to be collected in 1984. NOW, THEREFORE, BE IT ORDAINED by the City Council of Jacksonville, Arkansas: SECTION 1: That a tax of six (6) mills on each dol1ar of assessed valuation of all real and personal property within the City, be and hereby is levied by the City Council of the City to be collected with the taxes collected in the year 1984 for the purpose of general revenues, funding Firemen's Relief and Pension Fund, and funding policemen's Pension and Relief Fund. SECTION 2: That the tax of three and one-half (3 1/2) mills on each dollar assessed valuation of all real and personal property within the City for the purpose of paying the principal of and interest on Industrial Development Bonds under Amendment No. 49 of the Constitution of the State of Arkansas, be and that tax is suspended for the year 1983 and shall not be collected in the year 1984. \-O~ ORDINANCE NO. 7 2 4 PAGE THREE SECTION 3: That in order to pay the aforementioned Bonds as they mature, with interest thereon, there is hereby levied upon all taxable real and personal property within the City a tax of one (1) mill on each dollar of assessed valuation; to be collected with the taxes collected in the year 1984. SECTION 4: That a certified copy of this Ordinance be delivered by the City Clerk of the City of Jacksonville, Arkansas, to the County Clerk of Pulaski County, Arkansas, whose duty it shall be to collect said seven (7) mills tax against all real and personal property assessments made against properties within the corporate limits of the City of Jacksonville, Arkansas. SECTION 5: That it is hereby ascertained and declared to be essential to the operation of the City, and to the health, safety and welfare of its inhabitants, that the rate of taxation set out above in this Ordinance be levied and certified to the County Clerk of Pulaski County immediately, in order that it may be extended on the tax books of Pulaski County for collection in the year 1984. It is, therefore, declared that an emergency exists and this Ordinance shall be in force and take effect immediately upon its passage. PASSED this 3nd day of NOVEMBER 1983. ORDINANCE APPROVED AND ADOPTED WITH EMERGENCY CLAUSE: EFFECTIVE IMMEDIATELY. CITY OF JACKSONVILLE, ARKANSAS _4.~~ G. RE~ ~ ATTEST: /i ( t/J rXL4 4, L7{&~~ 'CI'l'y CLERK-TREAStJRER APPROVED AS TO FORM: ~~~ CI~)fATTORNEY 0