Laserfiche WebLink
ORDINANCE NO 01 IN <br /> AN ORDINANCE TO PLACE THE QUESTION OF INCREASING THE <br /> MILLAGE TO ONE (1) MILL UPON EACH DOLLAR OF ASSESSED VALUE <br /> OF TAXABLE REAL AND PERSONAL PROPERTY FOR FIRE RETIREMENT <br /> AND PENSION FUNDS, PURSUANT TO THE PROVISIONS OF <br /> AMENDMENTS NO. 31 AND NO. 59 OF THE CONSTITUTION OF <br /> ARKANSAS, AND FOR OTHER PURPOSES <br /> WHEREAS, the Batesville Firemen's Pension and Relief Fund is no longer <br /> actuarially sound; <br /> WHEREAS, there are currently 16 retired firemen and spouses of <br /> deceased firemen who depend on said pension for income; <br /> WHEREAS, the current millage rate the fireman's retirement salary and <br /> pension fund is four tenths (0.4) per dollar of assessed value of taxable real and <br /> personal property; <br /> WHEREAS, the Batesville Firemen's Pension and Relief Fund is <br /> requesting that the millage rate be increased to a full one (1) mill as allowed <br /> under Amendment 31 of the Arkansas Constitution; <br /> WHEREAS, that per Amendment 59 of the Arkansas Constitution the only <br /> way to increase the millage from 0.4 mills to 1 mill is to refer the issue to a <br /> popular election by the citizens; and <br /> WHEREAS, the City Council has determined it would be in the best <br /> interest of the City of Batesville to place before this issue before the citizens of <br /> Batesville. <br /> NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF <br /> THE CITY OF BATESVILLE, ARKANSAS: <br /> SECTION 1: That there be submitted to the electors of the City of <br /> Batesville at the general election to be held on November 6, 2018, the question <br /> of increasing the tax levied for the Fireman's Retirement Salary and Pension <br /> Funds so that the increase in tax millage in addition to the current four tenths <br /> (0.4) mill tax upon each dollar of the assessed value of taxable real and personal <br /> property will equal a one (1.0) mill tax upon each dollar of assessed value of <br /> taxable real and personal property to be used for the Fireman's Retirement <br /> Salary and Pension Funds, subject to the provisions of Amendment 59. <br /> SECTION 2: That the question shall be placed on the ballot for the <br /> election in substantially the following form: <br />