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RVOLUTION NO. 9,316
•
A RESOLUTION DIRECTING THAT FUNDS FROM THE ONE -HALF
CENT SALES TAX REVENUES BE PLACED IN A RESERVE TO FUND
FUTURE SERVICE INITIATIVES.
WHEREAS, on December 14, 1993, voters of the City of Little Rock approved
a one -half cent local sales tax effective February 1, 1994, to fund various new service
initiatives designed to address many needs of the community; and
WHEREAS, during 1994 the Board of Directors appropriated $9,087,609 in funds
from the one -half cent local sales tax revenues to provide for various service initiatives,
and funds received of $10,001,601 exceeded the funds appropriated by $913,992, and the
Board of Directors wishes to reserve those funds for future appropriations to meet the
needs of the community.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS;
SECTION 1. The sum of $913,992 is hereby directed to be transferred from the
local sales tax revenues for 1994 and deposited in the FUTURE - Little Rock reserve in
the General Fund.
ADOPTED: January 17, 1995
ATTEST:
APPROVED AS TO FORM:
THOMAS M. UARPEATEj I
CITY ATTORNE.
APPROVED:
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