HomeMy WebLinkAbout2011-12-07 FILED
DEC�8�2 11
M
YY WYI
ORDINANCE NO. 2011-12-07IITTTR& ACLERK
D.C.
AN ORDINANCE CALLING A SPECIAL ELECTION IN THE
CITY OF BATESVILLE, ARKANSAS ON THE QUESTION OF
ISSUING BONDS UNDER AMENDMENT NO. 62 TO THE
CONSTITUTION OF THE STATE OF ARKANSAS FOR THE
PURPOSE OF FINANCING ALL OR A PORTION OF THE
COSTS OF 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 proposes to finance all or a portion of the costs of
the Park and Recreational Improvements by the issuance of capital improvement bonds (the
"Bonds") in the maximum aggregate principal amount of $25,900,000 under the authority of
Amendment No. 62 to the Constitution of the State of Arkansas ("Amendment 62") and Title 14,
` Chapter 164, Subchapter 3 of the Arkansas Code of 1987 Annotated (the "Authorizing
Legislation"); and
WHEREAS, the City Council proposes to retire the Bonds with collections of a
0.5% sales and use tax levied within the City under Ordinance No. 2011-12-05, adopted
December 27, 2011; and
WHEREAS, the City may provide additional funds to pay or to further secure
repayment of the Bonds if a new city-wide one-half of one percent (0.5%) sales and use tax
levied by Ordinance No. 2011-12-03, adopted December 27, 2011, is approved by the voters;
and
WHEREAS, the purpose of this Ordinance is to submit to the electors of the City
the question of issuing the Bonds for the Park and Recreational Improvements at a special
election to be called for that purpose;
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 issuing
the Bonds under Amendment 62 and the Authorizing Legislation to finance all or a portion of the
costs of the Park and Recreational Improvements in the maximum aggregate principal amount of
$25,900,000, to be secured as described above.
Section 2. The question of issuing the Bonds shall be laced on the ballot for
' l g P
the election in substantially the following form:
PARK AND RECREATIONAL IMPROVEMENT BONDS
Vote FOR or AGAINST an issue of bonds of the City of Batesville in the
maximum aggregate principal amount of$25,900,000 for the purpose of financing
all or a portion of the costs of acquiring, constructing, equipping and furnishing
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 in order to pay the bonds, the pledge of a city-
wide 0.5% local sales and use tax levied by Ordinance No. 2011-12-05, adopted
December 27, 2011, if such tax is approved by the voters.
The bonds may be combined into a single issue or may be issued in series from
time to time. In order to provide additional funds to pay or to further secure
repayment of the bonds, the City may also pledge to the bonds the net collections
of a city-wide 0.5% sales and use tax levied by Ordinance No. 2011-12-03,
adopted December 27, 2011, if such tax is separately approved by the voters.
. 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 the Authorizing Legislation 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
2
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:
Mayor
City Clerk
(SEAL)
3
CERTIFICATE
The undersigned, City Clerk of Batesville, Arkansas, hereby certifies that the
foregoing pages are a true and perfect copy of Ordinance No. 2011-12-07, 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. , Page I, now in my possession.
GIVEN under my hand and seal this day of December, 2011.
&t � ,. .
City Clerk
(SEAL)
4