Laserfiche WebLink
• <br /> ORDINANCE NO. 2010-6-1 <br /> AN ORDINANCE CALLING AND SETTING A DATE FOR A SPECIAL <br /> ELECTION ON THE QUESTIONS OF (1) THE LEVY OF A TEMPORARY <br /> LOCAL SALES AND USE TAX AT THE RATE OF ONE PERCENT (1.000%) <br /> WITHIN THE CITY FOR THE PURPOSE OF PAYING BOND DEBT <br /> SERVICE ASSOCIATED WITH THE COMMUNITY CENTER BONDS AND <br /> PARKS BONDS DESCRIBED HEREIN, WHICH TAX SHALL CEASE UPON <br /> RETIREMENT OF THE BONDS, (2) THE LEVY OF A PERMANENT LOCAL <br /> SALES AND USE TAX AT THE RATE OF ONE-QUARTER OF ONE <br /> PERCENT (0.250%) WITHIN THE CITY FOR THE PURPOSE OF PAYING <br /> BOND DEBT SERVICE AND PAYING EXPENSES ASSOCIATED WITH <br /> THE OPERATION, MAINTENANCE AND IMPROVEMENT OF THE <br /> COMMUNITY CENTER FACILITIES AND PARKS FACILITIES FINANCED <br /> BY THE BONDS AND EXISTING CITY PARKS, (3) THE ISSUANCE BY <br /> THE CITY OF NOT TO EXCEED $26,050,000 OF CAPITAL IMPROVEMENT <br /> BONDS FOR THE PURPOSE OF FINANCING THE ACQUISITION, <br /> CONSTRUCTION, EQUIPPING AND FURNISHING OF COMMUNITY <br /> CENTER FACILITIES, AND (4) THE ISSUANCE BY THE CITY OF NOT TO <br /> EXCEED $18,950,000 OF CAPITAL IMPROVEMENT BONDS FOR THE <br /> • PURPOSE OF FINANCING THE ACQUISITION, CONSTRUCTION, <br /> EQUIPPING AND FURNISHING OF PARKS FACILITIES; LEVYING A <br /> CITYWIDE LOCAL SALES AND USE TAX AT THE RATE OF ONE <br /> PERCENT(1.000%) TO BE PLEDGED TO THE PAYMENT OF THE BONDS, <br /> WHICH TAX SHALL CEASE UPON RETIREMENT OF THE BONDS; <br /> LEVYING A CITYWIDE LOCAL SALES AND USE TAX AT THE RATE OF <br /> ONE-QUARTER OF ONE PERCENT (0.250°/x) TO BE PLEDGED TO THE <br /> PAYMENT OF THE BONDS AS NEEDED AND FOR THE PAYMENT OF <br /> OPERATION, MAINTENANCE AND IMPROVEMENT EXPENSES AS <br /> DESCRIBED HEREIN; PRESCRIBING OTHER MATTERS PERTAINING <br /> THERETO; AND DECLARING AN EMERGENCY. <br /> WHEREAS, the City Council of the City of Batesville, Arkansas (the "City") has <br /> determined that there is a critical need for a source of revenue to finance the acquisition, <br /> construction, equipping and furnishing of(i) City community center facilities and improvements <br /> related thereto or in support thereof (the "Community Center Facilities") and (ii) City parks <br /> facilities and improvements related thereto or in support thereof(the "Parks Facilities"), and the <br /> expenses of operation, maintenance and improvement thereof-, and <br /> WHEREAS, Title 26, Chapter 75, Subchapter 2 of the Arkansas Code of 1987 <br /> Annotated (the "1981 City Sales and Use Tax Act") and Title 26, Chapter 75, Subchapter 3 of <br /> the Arkansas Code of 1987 Annotated (the "1975 City Sales and Use Tax Act") each authorize <br /> • the levy of citywide sales and use taxes of up to one percent (1.000%) in increments of one- <br /> eighth of one percent(0.125%); and <br /> 4821-8069-1718.2 <br />