0141 ORDINANCE NO. /
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AN ORDINANCE CALLING AN ELECTION IN THE CITY OF JACKSON-
VILLE, ARKANSAS, FOR THE PURPOSE OF SUBMITTING TO THE
ELECTORS OF SAID CITY THE QUESTION OF ISSUING BONDS TO
SECURE FUNDS TO DEVELOP AND IMPROVE A PUBLIC PARK, AND
DECLARING AN EMERGENCY.
WHEREAS, the City of Jacksonville, in Pulaski County, Arkansas,
a city of the first class, has a public park which it needs to develop
and improve (including, but not limited thereto, by constructing a
swimming pool) to serve the recreational needs of its inhabitants,
and the City can secure the necessary funds by the issuance and sale
of general obligation bonds of the City under the provisions of Amend -
mebt No. 13 to the Constitution of the State of Arkansas, after
proval by a majority of the qualified electors of the City voting on
the question at an election held for that purpose; now, therefore,
BE IT ORDAINED by the City Council of the City of Jacksonville,
Arkansas:
SECTION 1. A special election is hereby called to be held in
said City on the 2nd day of April , 1963, for the
purpose of voting on the question of issuing $50,000 in bonds to
a public park
secure funds to develop and improve/(including„ but not limited
thereto, by constructing a swimming pool), the bonds to bear interest
at a rate acceptable to the City Council but not to exceed 3 3 /4%
per annum, and to be convertible at the option of the City Council
to a lower rate of interest, subject to the terms and conditions of
conversion fixed by the City Council. The bonds will be payable
from a one mill general tax and will be callable for payment before
• maturity. •
SECTION 2. The issue of $50,000.shall be dated as of March 1,
1963, and shall mature on April 1 of each year as follows:
$1000 in 1966 and 1967
1500 in 1968 to 1975 inclusive
2000 in 1976 to 1982 inclusive •
2500 in 1983 to 1987 inclusive
3000 in 1988 and 1989
3500 in 1990
SECTION 3. The ballot for said election shall be in sub-
stantially the following form:
BALLOT
Special Election j
City of Jacksonville, Arkansas
1963
Vote on measure by placing an "X" in the square above the
measure either for or against.
For the issue of bonds in
the amount of $50,000 Q7
Against the issue of bonds in
the amount of $50,000
The bonds will be issued to secure funds to develop and
improve a public park (including, but not limited thereto, by
constructing a swimming pool). They will be payable from a one
mill general tax, will bear interest at a rate acceptable to the
City Council but not to exceed 3 3/4% per annum, will be callable
for prepayment, and will be convertible at thecption of the City
Council to a lower rate of interest, subject to the terms and
conditions of conversion fixed by the City Council.
LIST OF VOTERS NUMBER
SECTION 4. Said election shall be held and conducted and the
vote thereof canvassed and the result declared under the law and in
the manner now provided for municipal elections, so far as the same
may be applicable, and the Nay= of the City of Jacksonville is
hereby authorized and directed to give notice of such election, by an
advertisement published weekly, once a week for four times, in the
Jacksonville News, a newspaper published and having a bona fide circu-
lation in said City, the last publication to be not less than ten days
prior to the date of said election, and only qualified electors of the
City of Jacksonville will have the right to vote at said election.
SECTION 5. The result of said election shall be proclaimed by
the Mayor and his proclamation shall be published one time in said
newspaper, and the result of said election as so proclaimed shall be
conclusive unless attacked in the courts within thirty days after
the date of such proclamation.
SECTION 6. In anticipation that the electors of the City will
favor the bond issue, and in order to hasten the project, the Mayor
and City Clerk are authorized to advertise, according to the terms
of Amendment No. 13 to the Constitution of the State of Arkansas, the
public sale of the proposed bond issue, the form, time and place to
be fixed by them, and in said notice they shall provide that the buyer
may have the right to convert the bonds to bonds bearing a lower rate
of interest, upon such terms that the City will recSre no leas and pay
no more than it would receive and pay if the bonds were not converted,
and subject to the terms and conditions of conversion that are ac-
ceptable to the City Council; that the buyer may designate the trustee
and place of payment of the issue; and that the bonds will be callable
for payment prior to maturity in inverse numerical order at par and
accrued intexst, as follows: From surplus revenues derived from the
special tax of not more than one mill on the -dollar valuation of the
taxable property in the City or from unused proceeds of the bond sale,
on any interest paying date; from funds from any source, on any
interest paying date on and after April 1, 1968.
SECTION 7. A copy of this ordinance shall be given to the
Pulaski County Board of Election Commissioners so that they may
provide the proper election officials and supplies.
SECTION 8. It is hereby ascertained and declared that there
is immediate and urgent need to develop and improve the City's public
park (including, without being limited thereto, by constructing a
swimming pool) in order to protect the health, lives and property
of the inhabitants of the City of Jacksonville, Arkansas, and to
serve the recreational needs of its citizens; therefore, an emergency
exists and this ordinance, being necessary for the preservation of
r
4 the public peace, health and safety, shall take effect and be in
force immediately upon and after its passage.
i I
Passed: �: Cr t , 1963.
APPROVED:
f
Mayor
Attest: (�
/ ( VOI-r ti
Cit4r Clerk
U
1�
U °y'
CERTIFICATE
I, the undersigned, City Clerk of Jacksonville, Arkansas,
hereby certify the foregoing to be a true copy of an ordinance
passed by the City Council at a duly called and constituted meeting
at which more than two thirds pf the members -elect of said Council
were present and voted for the ordinance, whhGi is now of record in
Book f page 3 9'4. of the records of said
City.
CERTIFIED under my hand and the seal of said City, this
2 ,5 day of February, 1963.
/ Lev �✓ir�
City Clerk
(seal)
•