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• ORDINANCE NO. 16,422
AN ORDINANCE CALLING A SPECIAL ELECTION IN THE
CITY OF LITTLE ROCK, ARKANSAS, ON THE QUESTION
OF ISSUING BONDS UNDER AMENDMENTS NO. 30 AND
NO. 72 TO THE CONSTITUTION OF THE STATE OF
ARKANSAS AND ACT 920 OF 1993 FOR THE PURPOSE
OF FINANCING THE COST OF ACQUIRING,
CONSTRUCTING AND EQUIPPING CAPITAL
IMPROVEMENTS FOR THE PUBLIC CITY LIBRARIES
OWNED AND OPERATED BY THE CITY OF LITTLE ROCK
AND CENTRAL ARKANSAS LIBRARY SYSTEM; LEVYING
A TWO (2) MILL AD VALOREM TAX FOR THE PURPOSE
OF RETIRING SUCH BONDS; PRESCRIBING OTHER
MATTERS PERTAINING THERETO; AND DECLARING AN
WHEREAS, the City of Little Rock, Arkansas (the "'City^) is
a city of the first class; and
WHEREAS, the City Board of Directors has determined that it
would be in the best interests of the City to acquire, construct
and equip new capital improvements consisting of a public city
library and related facilities (the "Improvements ") at an
estimated cost of not to exceed $17,000,000; and
WHEREAS, it has been determined that the cost of the
Improvements, including incidental expenses and expenditures in
connection with accomplishing the Improvements and expenses in
connection with authorizing and issuing the bonds (hereinafter
defined) can be financed by the issuance of bonds in the
principal amount of not to exceed $17,000,000; and
WHEREAS, the bonds can be issued under the authority of
Amendments No. 30 and No. 72 to the Constitution of the State of
Arkansas (the "Amendments") and Act No. 920 of the Acts of
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Arkansas of 1993 approved April 7, 1993 (• t No. 920 °); and
WHEREAS, the City can pay the principal of and interest on
the bonds from the proceeds of an ad valorem tax of not to
exceed two (2) mills on the dollar of the assessed value of
taxable real and personal property in the City, to be levied
under the authority of the Amendments and Act. No. 920; and
WHEREAS, the purpose of this Ordinance is to submit to the
electors of the City the question of issuing bonds under the
Amendments and Act No. 920 at a special election called for that
purpose and to levy an ad valorem tax to be collected at the
rate of not to exceed two (2) mills on the dollar of the
assessed value of the taxable real and personal property within
the City (the °Tax°).
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS:
SECTION 1. That there be, and there is hereby called, a
special election to be held on July 27, 1993, at which election
there shall be submitted to the electors of the City the
question of issuing bonds under the amendments and Act. No. 920,
for the purposes specified in Section 2 hereof. 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:
PROPOSED PUBLIC CITY LIBRARY CAPITAL INPROVIIENTS
AUTHORIZATION OF BONDS FOR THE LITTLE ROCK PUBLIC CITY
LIBRARY CAPITAL IMPROVEMENTS PROJECT AND APPROVAL TO PLEDGE
RECEIPTS FROM CITY TAX FOR PAYMENT THEREOF.
The issuance of bonds by the City of Little Rock in the
aggregate principal amount of up to $17,000,000 for the
purpose of paying the costs of acquiring, constructing and
equipping capital improvements for the public city
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libraries owned and operated by the City of Little Rock and
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the Central Arkansas Library System and to authorize the
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City Board of Directors to pledge all of the receipts from
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an ad'valorem tax levied by the City Board of Directors of
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the City at a rate not to exceed two (2) mills on the
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dollar of the assessed value of all real and personal
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property subject to taxation in the City, to pay the
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principal of and interest on the bonds and all fees and
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expenses in connection therewith.
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Vote on measure by placing an "'Xn in the square opposite
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the measure either for or against:
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FOR a two (2) mill tax on real and personal property within
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the City of Little Rock, Arkansas, to be pledged to an
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issue or issues of bonds not to exceed $17,000,000 in the
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aggregate principal amount, to finance the acquiring,
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constructing and equipping of capital improvements for
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public city libraries owned and operated by the City of
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Little Rock and Central Arkansas Library System' and to
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authorize the issuance of the bonds on such terms and
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conditions as shall be approved by the
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City................ ...............................
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AGAINST a two (2) mill tax on real and personal property
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within the City of Little Rock, Arkansas, to be pledged to
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an issue or issues of bonds not to exceed $17,000,000 in
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the aggregate principal amount, to finance the acquiring,
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constructing and equipping of capital improvements for
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public city libraries owned and operated by the City of
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Little Rock and Central Arkansas Library System and to
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authorize the issuance of the bonds on such terms and
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conditions as shall be approved by the
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.�City ................. ...............................
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2 SECTION 3. That the City Clerk is authorized and directed
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shall be made not less than ten (10) days prior to the election.
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SECTION 4. That the election shall be held and conducted
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and the vote canvassed and the results declared .under the law
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and in the manner now provided for municipal elections unless
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9 otherwise provided in the Amendments and Act. No. 920 and only
qualified electors of the City shall have the right to vote at
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the election.
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SECTION 5. That the results of the election shall be
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proclaimed by the Mayor, and his Proclamation shall be published
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which Proclamation shall advise that the results as proclaimed
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shall be conclusive unless suit challenging the results is filed
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in the Circuit Court of Pulaski County within thirty (30) days
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after the date of publication.
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SECTION 6. That a copy of this Ordinance shall be given to
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the Pulaski County Board of Election Commissioners so that the
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necessary election officials and supplies may be provided.
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SECTION 7. That the Mayor and City Clerk, for and on behalf
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of the City, be, and they are hereby authorized and directed to
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do any and all things necessary to call and hold the special
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election as herein provided and, if the issuance of the Bonds is
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approved by the electors, to cause the Tax to be collected in
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accordance with the Amendments of Act. No. 920, and to perform
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all acts of whatever nature necessary to carry out the authority
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SECTION 8. That all ordinances and parts thereof in
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conflict herewith are hereby repealed to the extent of such
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conflict.
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SECTION 9. EMERGENCY. It is hereby ascertained and declared
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that there is an immediate need for the public city library
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capital improvements described herein, 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 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: May 18, 1993
ATTEST:
' • : 71.1` �• w'
65219812 M101- M;I-i1UN1WW DIZZ
rem 1W WMAI W lit) •
APPROVED BY ELECTORS AT SPECIAL ELECTION HELD JULY 27, 1993.
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