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HomeMy WebLinkAbout709ORDINANCE NO. tee` - AN ORDINANCE CALLING A SPECIAL ELECTION IN THE CITY OF BATESVILLE, ARKANSAS FOR THE PURPOSE OF SUBMITTING TO THE ELECTORS OF THE CITY THE QUESTIONS OF ISSUING BONDS UNDER AMENDMENT NO. 13 TO THE CONSTITUTION OF THE STATE OF ARKANSAS FOR THE PURPOSES OF CONSTRUCTING AND EQUIPPING A BUILDING FOR HOUSING FIRE FIGHTING APPARATUS (A FIRE STATION) AND PURCHASING FIRE FIGHTING APPARATUS; PRESCRIBING OTHER MATTERS RELATING THERETO; AND DECLARING AN EMERGENCY. Y i WHEREAS the City of Batesville, Arkansas (called "City") is a city of the first class; and WHEREAS the City Council has determined that there is a need for constructing and equipping a building for housing fire fighting apparatus (a fire station) and to purchase fire fighting apparatus (a fire truck), with necessary appurtenances, and has determined that in order to finance the same it can issue bonds under the provisions of Amendment No. 13 to the Constitution of the State of Arkansas, subject to the approval of the electors, in the total principal amount of not to exceed Sixty Thousand Dollars ($60,000), in order to pay the estimated cost of said above referred to purposes, costs and expenses incidental thereto and the expenses of issuing the bonds; NOW, THEREFORE, BE IT ORDAINED by the City Council of the City of Batesville, Arkansas: Section 1. That a special election is hereby called to be held in the City on the day of 'Z , 19642 at which there shall be submitted to the electors of the City the questions of issuing bonds for the following specified purposes and in the following specified amounts: Page 2 Not to exceed $41,000 for the constructing and equipping of a building to house fire fighting apparatus (a fire station); and Not to exceed $19,000 for the purchase of fire fighting apparatus (a fire truck). Section 2. That the bonds shall be dated October 1, 1964, shall bear interest at a rate or rates hereafter determined payable semiannually on June 1 and December 1 of each year, commencing June 1, 1965 (the first coupon shall be for eight months), and the bonds shall mature on December 1 of each year as follows, but shall be callable for paymentprior to maturity upon such terms as shall be specified in the ordinance of the City authorizing issuance of the bonds: YEAR AMOUNT 1967 $31,000 1968 3,000 1969 4,000 1970 4,000 1971 4,000 1972 4,000 1973 5,000 1974 5,000 1975 5,000 1976 5,000 1977 6,000 1978 6,000 1979 6,000 The bonds shall be sold at public sale and may be sold with the privilege of conversion to an issue bearing a lower rate or rates of interest upon such terms as shall be specified in the Notice of Public Sale of the bonds. If the bonds are approved for both of the purposes set forth in Section 1 hereof, all bonds shall be combined into a single issue with the maturity dates and maturity amounts set forth in the above schedule. In the event bonds are Page 3 approved for only one of said purposes, the bonds for the purpose approved may be issued with the same maturity dates but for proportionately less maturity amounts. Section 3. That the questions shall be placed on the ballot for the special election in substantially the following form: Vote on measures by placing an `X" in the square opposite each measure either For or Against: For an issue of bonds in an amount not to exceed $41,000 for the purpose of financing the cost of constructing and equipping a building to house fire fighting apparatus (a fire station) . . . . . Against an issue of bonds in an amount not to exceed $41,000 for the purpose of financing the cost of constructing and equipping a building to house fire fighting apparatus (a fire station) . . . . . For an issue of bonds in an amount not to exceed $19,000 for the purpose of purchasing fire fighting apparatus (a fire truck) . . . . . . . . . . . . . . . Against an issue of bonds in an amount not to exceed $19,000 for the purpose of purchasing fire fighting apparatus (a fire truck) . . . . . . . . . . . . . . . If bonds are approved for both of said purposes all bonds will be combined into a single issue maturing serially on December 1 in each of the years 1967 to 1979, inclusive. In the event bonds are approved for only one of said purposes, the bonds approved may be issued with the same maturity dates but for proportionately less maturity amounts. The City Council will levy Page 4 and there will be collected a continuing annual tax in an amount sufficient to insure the payment of the principal of and interest on the bonds that are issued, with said tax not to exceed 1.56 mills on the dollar of the assessed valuation of the taxable real and personal property in the City in the event bonds for both of said purposes are approved and issued, and with there to be an appropriate reduction if bonds for only one of said purposes are approved and issued,.as determined by the City.Council. The bonds will be issued under the provis.ions of Amendment No. 13 to the Constitution of the State of Arkansas, will be sold at public sale, and may, at the option of the City, be sold with the privilege of conversion. Section 4. That 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, so far as the same is applicable, and the Mayor of the City of Batesville, Arkansas is hereby authorized and directed to give notice of such election by an advertisement published weekly once a week for four times in a newspaper published in the City of Batesville, Arkansas and hav- ing a bona fide circulation therein, the last publication to be not less than ten days prior to the date of the election, and only qualified voters of the City of Batesville, Arkansas shall have the right to vote at said election on said questions. Section 5. That the results of said election shall be proclaimed by the Mayor, and his proclamation shall be published one time in a newspaper published in the City of Batesville, Arkansas and having a bona fide circulation therein, which proclamation shall advise that the results as proclaimed shall be conclusive unless attacked in the courts within thirty days after the date of such proclamation. On Page S Section 6. That the Mayor is authorized to advertise, according to the terms of Amendment No. 13 to the Constitution of the State of Arkansas, the public sale of the proposed bond issue. Section 7. That a copy of this ordinance shall be given to the Independence County Board of Election Commissioners so that the necessary election officials and supplies may be provided. Section 8. That all ordinances and parts thereof in conflict herewith are hereby repealed to the extent of such conflict. Section 9. It is hereby ascertained and declared that there is an immediate and urgent need for the improvements described in Section 1 of this ordinance in order to promote and protect the health, safety and welfare of the City and its inhabitants, and that said improvements can be accomplished only by the issuance of bonds. It is, therefore, declared that an emergency exists and this ordinance being necessary for the immediate preservation of public peace, health and safety shall be in force and take effect immediately from and after its passage. PASSED: r i -i,> , 1964. l Mayor AT=51. ,, City Clerk (Seal)