14253 1 RESOLUTION NO. 14,253
2
3 A RESOLUTION TO EXPRESS THE INTENT OF THE BOARD OF
4 DIRECTORS OF THE CITY OF LITTLE ROCK, ARKANSAS, ON THE
5 USE ANY FUNDS FROM A THIRD ONE PERCENT (1%) TAX UPON THE
6 GROSS RECEIPTS OR GROSS PROCEEDS OF HOTEL,MOTEL,BED AND
7 BREAKFAST OR SHORT-TERM CONDOMINIUM OR APARTMENT
8 RENTAL ACCOMMODATIONS IN THE CITY OF LITTLE ROCK,
9 ARKANSAS, AND FROM A FOURTH ONE PERCENT (1%) TAX UPON
10 THE GROSS RECEIPTS OR GROSS PROCEEDS OF HOTEL,MOTEL,BED
11 AND BREAKFAST OR SHORT-TERM CONDOMINIUM OR APARTMENT
12 RENTAL ACCOMMODATIONS IN THE CITY OF LITTLE ROCK,
13 ARKANSAS, IN EXCESS OF THE AMOUNTS NEEDED FOR THE
14 PAYMENT OF DEBT SERVICE ON A PROPOSED CAPITAL
15 IMPROVEMENTS BOND ISSUE; AND FOR OTHER PURPOSES.
16
17 WHEREAS, the Board of Directors of the City of Little Rock, Arkansas, has by ordinance levied two
18 taxes jointly equal to 2%upon the gross receipts or gross proceeds of hotel,motel,bed and breakfast or short-
19 term condominium or apartment rental accommodation in the City of Little Rock,Arkansas,and has proposed
20 that the receipts from these taxes be bonded to help pay for certain park improvements and renovations for
21 MacArthur Park;and,
22 WHEREAS,it is known that all of the proceeds of these individual taxes will not be required to meet debt
23 service obligations on the proposed bond issue;and,
24 WHEREAS, the Board of Directors recommends to the Little Rock Advertising & Promotion
25 Commission how any excess proceeds from the third one percent(1%)Tax be utilized;and,
26 WHEREAS,the Board of Directors wishes to direct how any excess proceeds from the fourth one percent
27 (1%)tax be used for parks and recreation purposes for the City;
28 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF
29 LITTLE ROCK,ARKANSAS:
30 Section 1. Excess proceeds from the fourth one percent(1%)tax levied in Little Rock,Ark.,Ordinance
31 No.21,141 (December 1,2015)that are not required for debt service obligations,shall be used for all statutory
32 purposes as follows:
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1 (a) Three-fourths(3/4)of the excess proceeds shall be used for parks,including athletic fields,within
2 the corporate limits of the City as determined by the Board of Directors;and,
3 (b) One-fourth(1/4)of the excess proceeds shall be used for the Little Rock Zoo.
4 Section 2. The Board of Directors of the City of Little Rock recommends that the Little Rock Advertising
5 &Promotion Commission use funds from the third one percent(1%)tax levied in Little Rock,Ark.,Ordinance
6 No.21,140(December 1,2015)that are not required for debt service obligations shall be used for all statutory
7 purposes as follows:
8 (a) One third(1/3)of the excess proceeds for the Museum of Discovery;
9 (b) Two thirds (2/3) of the excess proceeds for appropriate cultural activities as permitted by state
10 statute,and as directed by the Little Rock Advertising&Promotion Commission.
11 Section 7. Severability. In the event any section, subsection, subdivision, paragraph, subparagraph,
12 item, sentence, clause, phrase, or word of this resolution is declared or adjudged to be invalid or
13 unconstitutional, such declaration or adjudication shall not affect the remaining provisions of this
14 resolution,as if such invalid or unconstitutional provision were not originally a part of this resolution.
15 Section 8. Repealer. All ordinances, resolutions, bylaws, and other matters inconsistent with this
16 resolution are hereby repealed to the extent of such inconsistency,provided that this resolution is intended
17 to be complementary to, and interpreted consistently with,Little Rock, Ark., Ordinance No.21,140; Little
18 Rock,Ark.,Ordinance No. 21,141;and,Little Rock,Ark.,Ordinance No.21,142;also passed on this date.
19 PASSED: December 1,2015
20 - APPROVE :
ihi________
21 r`
Of
22 N.4a-.
23 Su.an Y ey,City Clerk Mark Stodola,Mayor
24 AP'R I `� " 1 AS TO LEGAL FORM:
25
26 4A
a
27 Thomas M.Carpenter,City Atto ey
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