HomeMy WebLinkAbout2011-12-05 FILED
DEC 8 20
ORDINANCE NO. 2011-12-05 �C M
• TRAC WYYAAT
COUNTY&PR BAT LERK
AN ORDINANCE PROVIDING FOR THE LEVY OF A D.C.
TEMPORARY ONE-HALF OF ONE PERCENT (0.5%)
SALES AND USE TAX WITHIN THE CITY OF
BATESVILLE, ARKANSAS TO RETIRE BONDS ISSUED
TO FINANCE PARK AND RECREATIONAL
IMPROVEMENTS; AND PRESCRIBING OTHER
MATTERS PERTAINING THERETO.
WHEREAS, the City Council of the City of Batesville, Arkansas (the "City") has
determined that the City is in need of 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
(collectively,the "Park and Recreational Improvements"); and
WHEREAS, the City Council has determined that there is a need for a source of
revenue to pay and secure the repayment of bonds approved by the voters and issued by the City
to finance the Park and Recreational Improvements (the "Park and Recreational Improvement
Bonds"); and
• WHEREAS, Title 26, Chapter 75, Subchapter 2 of the Arkansas Code of 1987
Annotated (the "Authorizing Legislation") provides for the levy of city-wide sales and use taxes
at the rate of 0.125%, 0.25%, 0.5%, 0.75%or I%, or any combination thereof; and
WHEREAS, the City is currently levying a one-eighth of one percent (0.125%)
sales and use tax under the authority of the Authorizing Legislation, which tax will expire on
December 31, 2011; and
WHEREAS, the City Council has proposed the levy of a one-half of one percent
(0.5%) city-wide sales and use tax under the Authorizing Legislation to pay and secure the Park
and Recreational Improvement Bonds;
NOW, THEREFORE, BE IT ORDAINED by the City Council of the City of
Batesville,Arkansas:
Section 1. Under the authority of the Authorizing Legislation, there is hereby
levied a new one-half of one percent (0.5%) tax on the gross receipts from the sale at retail
within the City of all items which are subject to the Arkansas Gross Receipts Act of 1941, as
amended (A.C.A. §§26-52-101, et seq.), and the imposition of a new excise (or use) tax on the
storage, use, distribution or other consumption within the City of tangible personal property
subject to the Arkansas Compensating Tax Act of 1949, as amended (A.C.A. §§26-53-101, et
• seq.), at a rate of one-half of one percent(0.5%) of the sale price of the property or, in the case of
leases or rentals, of the lease or rental price (collectively, the "Sales and Use Tax"). The Sales
• used for park and recreational purposes. The tax shall expire on the first date on
which the tax can be administratively removed when (a) there are sufficient funds
to pay in full any outstanding Bonds secured by a pledge of collections of the tax
and (b) the City Council determines that the purposes of the tax cannot continue
to be fulfilled because no Bonds secured by a pledge of collections of the tax will
be issued or because no additional Bonds secured by a pledge of collections of the
tax will be issued in the future.
FOR................................................................................................................................ ❑
AGAINST...................................................................................................................... ❑
Section 3. The election shall be held and conducted and the vote canvassed
and the results declared under the law and in the manner now provided for municipal elections
unless otherwise provided in Title 26, Chapter 75, Subchapter 2 of the Arkansas Code of 1987
Annotated and only qualified voters of the City shall have the right to vote at the election.
Section 4. The results of the election shall be proclaimed by the Mayor, and
his Proclamation shall be published one time in a newspaper having a general circulation in the
City, which Proclamation shall advise that the results as proclaimed shall be conclusive unless
attacked in the courts within thirty days after the date of publication.
• Section 5. A copy of this Ordinance shall be (a) filed with the Independence
County Clerk at least 60 days prior to the election date and (b) given to the Independence County
Board of Election Commissioners so that the necessary election officials and supplies may be
provided. A certified copy of this Ordinance shall also be provided to the Commissioner of
Revenues of the State of Arkansas as soon as practical.
Section 6. The Mayor and City Clerk, for and on behalf of the City, are
hereby authorized and directed to do any and all things necessary to call and hold the special
election as herein provided and to perform all acts of whatever nature necessary to carry out the
authority conferred by this Ordinance.
Section 7. All ordinances and parts thereof in conflict herewith are hereby
repealed to the extent of such conflict.
PASSED: December 27, 2011
APPROVED:
ATTEST:
l_
1\1j,'3 r n, ac��n.7 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. 2011-12-06, 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 27th day of December, 2011, and that the Ordinance is of
record in Ordinance Record Book No. f, Page_(p'? , now in my possession.
GIVEN under my hand and seal this day of December, 2011.
City C(&k
(SEAL)
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