Laserfiche WebLink
• approval of the pledge of a 0 . 5% Cityof Batesville and <br /> use tax for payment thereof. . . . . . . . - • . <br /> . L-/ <br /> AGAINST authorization of the issuance of bonds in the <br /> principal amount not to exceed $5, 000, 000 for the purpose of <br /> constructing and equipping educational facilities for the <br /> Arkansas School for Mathematics and Science in Batesville and <br /> approval of the pledge of a 0. 5% City of Batesville sales and <br /> usetax for payment thereof. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . L/ <br /> Section 5. That the question of levying the one-half of one <br /> percent (0. 5%) sales and use tax within the City of Batesville, <br /> Arkansas for the purpose of repaying the Bonds shall be placed on <br /> the ballot for election in substantially the following form: <br /> LEVY OF ONE-HALF OF ONE PERCENT (0. 5%) <br /> SALES AND USE TAX <br /> AUTHORIZATION AND APPROVAL OF LEVY OF ONE-HALF OF ONE PERCENT <br /> (0. 5%) SALES AND USE TAX WITHIN THE CITY OF BATESVILLE TO BE <br /> USED FOR REPAYMENT OF BONDS FOR ARKANSAS SCHOOL FOR MATH AND <br /> SCIENCE, TO BE LEVIED ONLY IF THE ARKANSAS SCHOOL OF <br /> MATHEMATICS AND SCIENCE IS LOCATED IN BATESVILLE. <br /> The authorization and approval of the levy of a one-half <br /> of one percent (0 . 5%) sales and use tax within the City of <br /> Batesville, Arkansas, the proceeds of which shall be pledged <br /> to repayment of bonds used to finance the Arkansas School for <br /> Mathematics and Science to be located in Batesville. The <br /> sales and use tax shall be levied on the receipts from the <br /> sales at retail within the City of all items which are subject <br /> to taxation under the Arkansas Gross Receipts Tax Act of 1941, <br /> as amended, and the receipts from storing, using or consuming <br /> within the City tangible personal property under the Arkansas <br /> Compensating Tax Act of 1949 , as amended (the "Sales and Use <br /> Tax") . The sales and use tax shall be levied and collected <br /> only to a maximum tax of twenty-five dollars ($25) on each <br /> single transaction, pursuant to Arkansas Code Annotated <br /> Section 26-75-222 . The levy and collection of the Sales and <br /> Use Tax shall terminate upon the repayment in full of the <br /> Bonds, unless such Sales and Use Tax is extended by vote of <br /> the electors of the City at a special election called for such <br /> purpose. <br /> The sales and use tax shall not be levied and collected unless <br /> (1) Batesville is selected as the site for the Arkansas School <br /> for Mathematics and Science, and (2) the electors shall have <br /> also approved the issuance of the sales and use tax bonds to <br /> finance the school. <br /> Vote on measure by placing an x in the square opposite the <br /> measure either for or against: <br /> • 4 <br />