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HomeMy WebLinkAbout629ORDI IvArCz,! NO. AT CRllIiv`A!,"CE SUB. ' iTIITG TO TIL' 'E- E -C ORS IN THE CITY OF BATESVILLE AT THE G ,TT= RAL :SLI;,CTION THE �yU L)TION OF ISSUING L 0 i,IDS P'OR ��'HJ.� PURPOSEvIi' AC47IRING AND CO;`1S RUCTII,TG A I 1 "NIC IPAL Pt BLIC PA AID S�II'i:ir IIdG POOL AND THE VOTING OF A 6PECIAL TA TO PAY THE PRIT CIPAL API'D II Tl R_ ST v7 BONDS; DECLARITvG AN ET ERGENCY; AND FOR OTHER PITRPOS_-'S . d'JHI�RAS, the City of Batesville, Arkansas, does not have adequate public park facilities to serve the needs of its citizens, and the City Council finds it necessar7T, for the comfort, health and recreation of its citizens, to acquire additional lands and improve then; for public parr uses; and &IER:.AS, the City Council further finds that the City has the authority under "mendment ho. 13 to ti -le Constitution of the ►btate of Arkansas, subject to the approval of its electors, to issue bonds for this purpose; now, therefore, Bl1� IT ORDAIITED by the City Council of the City of Batesville, Arkansas: SECTION 1. That there be submitted to the electors of the City at the general election to be held on November 6, 1051, the question of issuing 460,000 in improvement bonds dated as of December 31, 1951, for the purl-ose of acquiring and constructing a municipal public park and swimming pool, said bonds to bear interest at a. rate not to exceed - - 3 -,) per annum but convertible to a lower rate of interest upon such terms that the City will receive no less and pay no more than it would receive or pay if tine bonds were not converted, said bonds to m«cure on january 1 of each year as follows; �,Z000 in 1955 to 1960, inclusive 3500 in 1961 to 1641 inclusive 4000 in 1965 to 1971, inclusive and the question of a special tax, to be levied annually beginning with the taxes collected in the year 1952 until all bonds and interest thereon that are authorized by said election have been paid in full. SECTION 2. That said questions be placed on the ballot for the general elect=ion in substantiall�r the following form: A Vote on measure by placing an 11X" in the square above the measure either for or against. For the issue of borids in the amount of X60,000. ............ Against the issue of bonds in the account of X60,000. ....................._ The bonds will be issued for the purpose of acquiring and constructing; a mun'cipal public a rk and swimming pool. For a tax to pay the bond issue........' Against a tax to pay the bond issue....= S]",CTIOIT 3. ,laid election shall be held and conducted and the vote thereof canvassed and the result declared 'ander the law and in the manner now provided for municipal elections, so far as the sante may be applicabl©, and the i': ayor of t' --e Cit - of Batesville is hereby authorized and directed to dive notice of such election by an advertisement published weekly, once a week for four ties in the a newspaper published in tn.e City of Batesville and having a bora fide circulation in said 6itv, tele last publication to be not less than Len days prior to the, date of said election, and only qual ified voters of tie City of Batesville shall have the right to vote at said election on said questions. SECTION !. The result of said election shall be proclaimed by the i,-ayor and itis proclanintion shall be published one tL-,e in said net°Jspaper, and the result of said election as proclaimed by theI,`ayor shall be conclusive unless attacked in the courts within thirty days after the date of suc1L proela:uation. SECTION 5. '21 -le 1,:ayor and Cit -Y Clerk are authorized and directed to advertise, according to tx�e terms of "rrcendrzent NL 13 to the Constitution of t;:,e State of Arkansas, the public sale of the proposed bond issue, tx-ie form, time and place to be fixed by thenc, and in said notice they shall -provide that the buyer may have the right to convert the bonds to bonds bearini a lower rate of interest, upon such terms that the City will receive no less and pay no more than it would receive and pay if the bonds were not i ! %W converted; that the buyer may designate the trustee and place of payment of the issue; and that the bonds will be callable i_n inverse numerical order at rear and accrued interest, as follows; From surplus revenues derived from the special tax or fro,ii surplus funds derived frorn the bond sale, on any interest paying date; from funds from any source, on any interest paying date on and after January 1, 1957. SECTION C. That a copy of this ordinance be given to the Independence County Sheriff in order that he may post and publish his proclamation of said election, and a copy be given to the Independence Count* Board of Election Commissioners, so that they may provide the proper election officials and supplies. S'.!"CTI0X 7. It is hereby ascertained and declared that there is an immediate and urgent need for the acquisition and construction of a public park and swimming tool, in order to protect the health, life aaild property of the inhabitants of the City of Batesville, and that therefore an emergency exists and trni.s ordiname is necessary for the preservation of the public peace, health and safety, and shall be in force and take effect it,imediately upon and after its passage. Passed: 6eptember_, 1951. APPROVED: _ or Attest: Cy clerk CERTIF ICkTL I, the undersized, City Clerk for the City of Batesville, Arkansas, hereby certify the foregoing to be a true copy of an ordinance duly passed by the C it l C ounc Ll at a nieeting duly called and coizstituted, at which m. re than two-thirds of the total number elect of the Councilman were present and voted for the ordinance. -'RTIFIiD under m7T hand and tie seal of said City, this d.y of September, 1951. City Clerk �` (Seal)