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• SPECIAL ELECTION ON <br /> CITY SALES AND USE TAX LEVIES <br /> AND BOND ISSUANCE <br /> If approved in Question One below, there will be levied a one percent (1.000%) citywide <br /> sales and use tax (the "1.000% Sales and Use Tax"), the net collections of which remaining after <br /> the State of Arkansas deducts its administrative charges and after required rebates will be utilized <br /> solely for the payment of debt service on the Community Center Bonds (defined in Question <br /> Three below) and the Parks Bonds (defined in Question Four below). The levy and collection of <br /> the 1.000% Sales and Use Tax shall commence on and as of such date as provided by Arkansas <br /> law and shall cease upon retirement in full of the Bonds. If approved in Question Two below, <br /> there will be levied a one-quarter of one percent (0.250%) citywide sales and use tax (the <br /> "0.250% Sales and Use Tax"), the net collections of which remaining after the State of Arkansas <br /> deducts its administrative charges and after required rebates will be utilized for the payment of <br /> debt service on the Community Center Bonds and Parks Bonds, to the extent needed after <br /> application of the net collections of the 1.000% Sales and Use Tax, and shall thereafter be <br /> distributed to the City and utilized solely for the payment of expenses associated with the <br /> operation, maintenance and improvement of existing City parks and the proposed Community <br /> Center Facilities and Park Facilities to be financed with proceeds of the Community Center <br /> Bonds and Parks Bonds. The levy and collection of the 0.250% Sales and Use Tax shall <br /> commence on and as of such date as provided by Arkansas law. Unless all four questions for the <br /> • purposes described below are approved, neither the 1.000% Sales and Use Tax nor the 0.250% <br /> Sales and Use Tax will be levied, and the Community Center Bonds and the Parks Bonds will not <br /> be issued. <br /> Question One (1.000% Temporary Sales and Use Tax): <br /> There is submitted to the qualified electors of the City of Batesville, Arkansas, the <br /> question of the levy of a one percent (1.000%) citywide sales and use tax under <br /> Title 26, Chapter 75, Subchapter 3 of the Arkansas Code of 1987 Annotated (the <br /> "1.000% Sales and Use Tax"), the net collections of which will be utilized solely <br /> for the payment of debt service on the Community Center Bonds (defined in <br /> Question Three below) and the Parks Bonds (defined in Question Four below). <br /> The levy and collection of the 1.000% Sales and Use Tax shall commence on and <br /> as of such date as provided by Arkansas law and shall cease upon retirement in <br /> full of the Community Center Bonds and the Parks Bonds. <br /> Vote on the question by placing an "X" in one of the squares following the <br /> question, either for or against: <br /> FOR the adoption of a one percent (1.000%) Sales and Use Tax within the City of <br /> Batesville, Arkansas, the net collections of such tax to be used only for the <br /> purposes described above, and such tax to expire upon retirement in full of the <br /> Community Center Bonds and Parks Bonds described in Questions Three and <br /> • Four below..................................................................................0 <br /> 4821-8069-1718.2 5 <br />