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ORDINANCE NO
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AN ORDINANCE ESTABLISHING THE RATE OF TAXATION OF
PROPERTY FOR CITY PURPOSES FOR THE YEAR 1987 FOR
VARIOUS FUNDS OF THE CITY OF LITTLE ROCK.
BE IT ORDAINED BY THE BOARD OF DIRECTORS OF THE CITY OF
ITTLE ROCK, ARKANSAS:
SECTION 1. The rate of taxation on real and personal
roperty in the City of Little Rock, Arkansas, for certain City
urposes, prior to roll back pursuant to Amendment 59 to the
onstitution of the State of Arkansas, is-hereby fixed and
stablished and levied as follows:
For general purposes in order to carry on the
affairs of the City Government under Section 4,
Article 12 of and Amendment 10 to the Constitution
of Arkansas of 1874, there is hereby levied a tax
of five (5) mills.
For the purpose of paying bonds and interest as
may be required for the City of Little Rock,
Arkansas, refunding Capital Improvement Bonds
approved at a special election held on September
21, 1976, a tax of three and seventy -five one
hundredths (3.75) mills.
For the purpose of paying Policemen's Pensions
in accordance with provisions of Amendment No. 31
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to the Constitution of the State of Arkansas, a tax
of one (1) mill.
For the purpose of paying Firemen's Pensions,
in accordance with the provisions of Amendment No.
31 to the Constitution of the State of Arkansas,
adopted November 5, 1940, and Act 16 of the Acts of
the General Assembly of the State of Arkansas for
the year 1941, a tax of one (1) mill.
For the purpose of paying bonds and interest as
may be required for the City of Little Rock,
Arkansas, refunding General Obligation Industrial
Development Bonds, Port Authority Project, approved
at a special election held on November 5,1985, a
tax of five tenths (.5) mills.
For the purpose of maintaining the City
Library, in accordance with the provisions of
Amendment No. 30 to the Constitution of the State
of Arkansas, a tax of one (1) mill.
SECTION 2. The rate of taxation on real property in the
City of Little Rock, Arkansas, for certain City purposes,
computed after application of the roll back provisions of
Amendment 59, are hereby fixed, established and levied as
follows:
For general purposes in order to carry
on the affairs of the City Government under Section
4, Article 12 of and Amendment 10 to the
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constitution of Arkansas of 1874, there is hereby
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levied a tax of two and eight tenths (2.8) mills;
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For the purpose of paying bonds and interest as
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may be required for the City of Little Rock,
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Arkansas, refunding Capital Improvement Bonds
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approved at a special election held on September
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21, 1976, a tax of two and one tenth (2.1) mills;
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For the purpose of paying Policemen's Pensions
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in accordance with provisions of Amendment No. 31
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to the Constitution of the State of Arkansas, a tax
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of six tenths (.6) mills;
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For the purpose of paying Firemen's Pensions,
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in accordance with the provisions of Amendment No.
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31 to the Constitution of the State of Arkansas,
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adopted November 5, 1940, and Act 16 of the Acts of
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the General Assembly of the State of Arkansas for
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the year 1941, a tax of six tenths (.6) mills;
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For the purpose of paying bonds and interest as
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may be required for the City of Little Rock,
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Arkansas, refunding General Obligation Industrial
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Development Bonds, Port Authority Project, approved
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at a special election held on November 5,1985, a
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tax of five tenths (.5) mills.
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For the purpose of maintaining the City
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Library, in accordance with the provisions of
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1 Amendment No. 30 to the Constitution of the State
2 of Arkansas, a tax of one (1) mill.
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SECTION 3. The collection of the real and personal
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5 property tax millage for payment of principle and interest on the
6 City of Little Rock, Arkansas, General Obligation Industrial
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Development Bonds, Port Authority Project, referred to above is
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9 suspended for tax year 1987; further, it is the intent of the
10 Board of Directors of the City of .Little Rock, Arkansas, that any
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real and personal property tax funds collected for this purpose
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13 for tax year 1986 are deemed to provide total credit for any sums
14 that, but for this suspension, would have been collected during
15 tax year 1987.
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17 SECTION 4. The amounts of the interim levies of personal
18 property taxes for the items referred to in Section 2 will be the
19 amounts deemed appropriate, pursuant to Amendment 59, by the
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21 Arkansas Assessment Coordination Division and the Pulaski County
22 Collector.
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SECTION 5. The real and personal property tax levies
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25 provided for herein, with the exception of the levy for the
26 library pursuant to Amendment 30 to the Constitution of the State
27 of Arkansas, and the bonds referred to in Section 3, have been
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29 subjected to roll back provisions of Amendment 59 to the
30 Constitution of the State of Arkansas. The library millage was
31 increased to a full one (1) mill levy on both real and personal
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33 property pursuant to an election held November 4, 1986.
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SECTION 6. The City Clerk is hereby directed to transmit
a certified copy of this Ordinance to the County Clerk of Pulaski
County to the end that the taxes recited may be extended on the
tax books of Pulaski County and collected with the other taxes
for the year 1987.
PASSED: November 12, 1986
ATTEST:
APPROVED AS T (FORM:
MARK STODO , IC ITY P
APPROVED:
1�7 mil/
MAYOR
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