HomeMy WebLinkAbout2011-12-06 FILED
ORDINANCE NO. 2011-12-06 DEC 28 011
M
TRAC
AN ORDINANCE CALLING A SPECIAL ELECTION IN THE COUN&pEY B A LERK
CITY OF BATESVILLE, ARKANSAS ON THE QUESTION OF p c
LEVYING A TEMPORARY ONE-HALF OF ONE PERCENT10
(0.5%) SALES AND USE TAX WITHIN THE CITY OF
BATESVILLE, ARKANSAS; AND PRESCRIBING OTHER
MATTERS PERTAINING THERETO.
WHEREAS, the City Council of the City of Batesville, Arkansas (the "City") has
passed on December 27, 2011, Ordinance No. 2011-12-05 providing for the levy of a new one-
half of one percent(0.5%) sales and use tax within the City (the "Sales and Use Tax")to pay and
secure the repayment of bonds approved by the voters and issued by the City to finance park and
recreational improvements, including particularly, without limitation, a multi-purpose
community center, swimming facilities, baseball fields, softball fields and soccer fields and any
necessary land acquisition, and parking, landscaping, signage, drainage, lighting, concession,
road and utility improvements related thereto; and
WHEREAS, the purpose of this Ordinance is to call a special election on the
question of the levy of the Sales and Use Tax;
NOW THEREFORE, BE IT ORDAINED by the City Council of the City of
Batesville, Arkansas:
Section 1. There is hereby called a special election to be held on March 13,
2012, at which election there shall be submitted to the electors of the City the question of the
levy of the Sales and Use Tax.
Section 2. The question of levying the Sales and Use Tax shall be placed on
the ballot for the election in substantially the following form:
0.5% SALES AND USE TAX
(TEMPORARY)
Vote FOR or AGAINST adoption of a new 0.5% local sales and use tax within
the City of Batesville to pay and secure the repayment of bonds approved by the
voters and issued by the City to finance park and recreational improvements,
including particularly, without limitation, a multi-purpose community center,
swimming facilities, baseball fields, softball fields and soccer fields and any
necessary land acquisition, and parking, landscaping, signage, drainage, lighting,
concession, road and utility improvements related thereto (the 'Bonds").
The net collections of the tax received after deduction of the administrative
charges of the State of Arkansas and required rebates shall be used as set forth
above; provided that any amounts not necessary to pay in full the Bonds may be
• and Use Tax shall be levied and collected on the gross receipts, gross proceeds or sales price in
the maximum amount allowed from time to time under Arkansas law, subject to rebates and
limitations as required for certain single transactions as from time to time required by Arkansas
statutes.
Section 2. The Sales and Use Tax shall be levied, and the net collections
received after deduction of the administrative charges of the State of Arkansas and required
rebates shall be used by the City to retire the Park and Recreational Improvement Bonds and all
obligations of the City with respect thereto; provided, however, that any amounts not necessary
to fully retire the Park and Recreational Improvement Bonds and all obligations of the City with
respect thereto may be used for park and recreational purposes.
Section 3. The Sales and Use Tax shall expire on the first date on which the
Sales and Use Tax can be administratively removed when (a) there are sufficient funds to pay in
full the outstanding Park and Recreational Improvement Bonds secured by a pledge of
collections of the Sales and Use Tax and (b) the City Council determines that the purposes of the
Sales and Use Tax cannot continue to be fulfilled because no Park and Recreational
Improvement Bonds secured by a pledge of collections of the Sales and Use Tax will be issued
or because no additional Park and Recreational Improvement Bonds secured by a pledge of
collections of the Sales and Use Tax will be issued in the future.
Section 4. All ordinances and parts thereof in conflict herewith are hereby
• repealed to the extent of such conflict.
Section 5. This Ordinance shall not take effect until an election is held on the
question of levying the Sales and Use Tax at which a majority of the electors voting on the
question shall have approved (a) the levy of the Sales and Use Tax and (b) the issuance of the
Park and Recreational Improvement Bonds secured by a pledge of collections of the Sales and
Use Tax.
PASSED: December 27, 2011
APPROVED:
ATTEST:
�K - -J/,n/y\ "-Qv- Mayor
City Clerk
(SEAL)
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• CERTIFICATE
The undersigned, City Clerk of Batesville, Arkansas, hereby certifies that the
foregoing pages are a true and perfect copy of Ordinance No. 2011-12-05, passed at a regular
session of the City Council of Batesville, Arkansas, held at the regular meeting place of the City
Council at 5:30 o'clock p.m., on the 270 day of December, 2011, and that the Ordinance is of
record in Ordinance Record Book No. , Page_(22_,now in my possession.
GIVEN under my hand and seal this�'n'day of December, 2011.
City Clerl
(SEAL)
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