15338ORDINANCE NO. 15,338
AN ORDINANCE CALLING A SPECIAL ELECTION IN
THE CITY OF LITTLE ROCK, ARKANSAS, FOR THE
PURPOSE OF SUBMITTING TO THE ELECTORS OF THE
CITY THE QUESTIONS OF ISSUING BONDS FOR
VARIOUS CAPITAL IMPROVEMENTS; PRESCRIBING
OTHER MATTERS RELATING THERETO; AND
DECLARING AN EMERGENCY.
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WHEREAS, the Board of Directors of the City of Little
Rock, Arkansas (the "City "), has determined the need to issue
bonds in the aggregate amount of not to exceed $39,115,000 for
various capital improvements as specifically described in
Section 2; and
WHEREAS, issuance of bonds for each separate purpose
is subject to the approval of the electors of the City; and
WHEREAS, the Board of Directors has determined that
the issuance of bonds to provide matching funds for improvements
as described in Question Ten, Section 2, will serve a single
purpose, i.e., participation in the joint financing of necessary
improvements in the downtown area, and that, as a matter of
policy, the City should not participate in the financing of any
such improvements without. also participating in financing all
such improvements; and
WHEREAS, the Board of Directors has determined that in
order to retire the bonds it will be necessary to levy an ad
valorem tax on taxable property within the City at a rate not to
exceed 3.434 mills on the dollar of the assessed value of the
property;
NOW THEREFORE, BE IT ORDAINED by the Board of
Directors of the City of Little Rock, Arkansas:
Section 1. A special election shall be held on
Tuesday, October 13, 1987. There shall be submitted to the
electors of the City at the special election the questions of
issuing bonds for each of the purposes in the respective amounts
specified in Section 2. The maximum rate of the tax to retire
the bonds shall be stated on the ballot.
Section 2. The ballot shall be in substantially the
following form:
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Vote on each question by placing an "X" in
the square opposite the question either for
or against:
Question One:
FOR the issuance of bonds in the maximum
principal amount of $19,675,000 for
the purpose of constructing, recon-
structing, repairing, straightening,
and widening of streets in the City,
including curbing, guttering and drainage
improvements.
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AGAINST the issuance of bonds in the maximum
principal amount of $19,675,000 for
the purpose of constructing, recon-
structing, repairing, straightening,
and widening of streets in the City,
including curbing, guttering and
drainage improvements
Ouestion Two:
FOR the issuance of bonds in the maximum
principal amount of $900,000 for the
purpose of providing drainage improve-
ments in the City.
AGAINST the issuance of bonds in the maximum
principal amount of $900,000 for the
purpose of providing drainage improve-
ments in the City.
E
Ouestion Three
FOR the issuance of bonds in the maximum
principal amount of $1,000,000 for the
purpose of acquiring, constructing and
equipping a new police substation in
the City.
AGAINST the issuance of bonds in the maximum
principal amount of $1,000,000 for the
purpose of acquiring, constructing and
equipping a new police substation in
the City.
Ouestion Four:
FOR the issuance of bonds in the maximum
principal amount of $8,690,000 for the
purpose of acquiring, renovating,
constructing and equipping public park
improvements in the City, including improve-
ments to the Little Rock Zoo.
AGAINST the issuance of bonds in the maximum
principal amount of $8,690,000 for the
purpose of acquiring, renovating,
constructing and equipping public park
improvements in the City, including
improvements to the Little Rock Zoo.
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374
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Ouestion Five
FOR the issuance of bonds in the maximum
principal amount of $1,000,000 for the
purpose of acquiring, constructing or
equipping two fire stations in the City.
AGAINST the issuance of bonds in the maximum
principal amount of $1,000,000 for the
purpose of acquiring, constructing or
equipping two fire stations in the City.
uestion Six
FOR the issuance of bonds in the maximum
principal amount of $2,000,000 for the
purpose of acquiring, constructing and
equipping a new library branch in the
City.
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AGAINST the issuance of bonds in the maximum
principal amount of $2,000,000 for the
purpose of acquiring, constructing and
equipping a new library branch in the
City.
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stion Seven:
FOR the issuance of bonds in the maximum
principal amount of $950,000 for the
purpose of making improvements to the
Arkansas Arts Center.
AGAINST the issuance of bonds in the maximum
principal amount of $950,000 for the
purpose of making improvements to the
Arkansas Arts Center.
Ouestion Eiaht
FOR the issuance of bonds in the maximum
principal amount of $1,500,000 for the purpose
of acquiring, constructing and equipping a
detention center in the City.
AGAINST the issuance of bonds in the maximum
principal amount of $1,500,000 for the purpose
of acquiring, constructing and equipping a
detention center in the City.
uestion Nine:
FOR the issuance of bonds in the maximum
principal amount of $1,500,000 to
finance improvements to Robinson Auditorium
and the contiguous plaza.
AGAINST the issuance of bonds in the maximum
principal amount of $1,500,000 to
finance improvements to Robinson
Auditorium and the contiguous plaza.
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376
Ouestion Ten:
FOR the issuance of bonds in the maximum
principal amount of $800,000 for the purpose
of matching on a dollar for dollar basis funds
provided by the South Main Improvement District
to be used in constructing, repairing and installing
sidewalks, lighting and right -of -way improvements
in the South Main Improvement District and for
matching on a dollar for dollar basis funds provided
by individual property owners and used for
restoring historic building facades in the
central business district.
AGAINST the issuance of bonds in the maximum
principal amount of $800,000 for the purpose
of matching on a dollar for dollar basis funds
provided by the South Main Improvement District
to be used in constructing, repairing and installing
sidewalks, lighting and right -of -way improvements
in the South Main Improvement District and for
matching on a dollar for dollar basis funds provided
by individual property owners and used for
restoring historic building facades in the
central business district.
Question Eleven:
FOR the issuance of bonds in the maximum
principal amount of $200,000 for the purpose
of making improvements to the Arkansas
Museum of Science and History in MacArthur
Park.
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AGAINST the issuance of bonds in the maximum
principal amount of $200,000 for the purpose
of making improvements to the Arkansas
Museum of Science and History in MacArthur
Park.
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Ouestion Twelve:
FOR the issuance of bonds in the maximum
principal amount of $900,000 for the purpose
of making improvements to streets and sidewalks
in the Hillcrest, Quapaw Quarter and Capitol
Avenue areas, including street lights and
right -o£ -way improvements.
AGAINST the issuance of bonds in the maximum
principal amount of $900,000 for the purpose
of making improvements to streets and sidewalks
in the Hillcrest, Ouapaw Quarter and Capitol
Avenue areas, including street lights and
right -of -way improvements.
The bonds that are approved will be combined
into a single issue of bonds, which may be
issued at one time or in series from time to
time. In order to retire the bonds there
will be levied a continuing annual ad
valorem tax on taxable property located
within the City of Little Rock at a rate of
not to exceed three and four hundred
thirty -four thousandths (3.434) mills on the
dollar of the assessed value of the
property.
Section 3. The City Clerk is authorized and directed
to give notice of the election by one publication in a newspaper
having general circulation within the City. The publication
shall be made not less than ten (10) days prior to the election.
Section 4. 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.
Section 5. The Mayor shall
the election by issuing a proclamation
one time in a newspaper having general
The results as proclaimed shall be
challenging the results is filed in the
County within thirty (30) days after
proclamation.
proclaim the results of
and publishing the same
circulation in the City.
conclusive unless suit
Circuit Court of Pulaski
the publication of the
Section 6. A copy of this Ordinance shall be given to
the Pulaski County Board of Election Commissioners so that the
necessary election officials and supplies may be provided.
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Section 7. Subject to the approval of the electors,
the issuance of bonds for the purposes and in the amounts
specified in Section 2 is hereby authorized. The bonds shall be
issued under the authority of Amendment 62 to the Constitution
of the State of Arkansas and the Local Government Bond Act of
1985 (Arkansas Statutes Annotated Sections 13 -1239 and
following).
Section 8. 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 need for the capital improvements
described in this Ordinance in order to promote and protect the
health, safety, and welfare of the City and its inhabitants, and
that the improvements can be accomplished only by the issuance
of the 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 this 18th day of August 1987,
AT 'ST: Mayor Lo ie Shacleelf ord
J
Cio Clerk a e Czech
(SEAL)
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