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mum M M M ew
• 223
NO. 16,060
AN ORDINANCE CALLING A SPECIAL ELECTION IN THE CITY
OF LITTLE ROCK, ARKANSAS, ON THE QUESTIONS OF
ISSUING BONDS UNDER AMENDMENT NO. 62 TO THE
CONSTITUTION OF THE STATE OF ARKANSAS FOR THE
PURPOSES OF FINANCING THE COSTS OF A MULTIPURPOSE
EVENTS CENTER; RENOVATING WAR MEMORIAL STADIUM;
EXPANDING THE STATEHOUSE CONVENTION CENTER;
FINANCING STREET IMPROVEMENTS; FINANCING DRAINAGE
IMPROVEMENTS; FINANCING IMPROVEMENTS TO AND THE
ACQUISITION FOR PARKS AND RECREATION IN THE CITY;
FINANCING IMPROVEMENTS TO THE ZOO; FINANCING THE
SUPPORT OF A HOUSING AND NEIGHBORHOOD
REVITALIZATION PROGRAM; FINANCING AN IMAX FORMAT
THE IN CONJUNCTION WITH THE ARKANSAS MUSEUM OF
SCIENCE AND HISTORY; FINANCING RIGHT -OF -WAY
ACQUISITION; PRESCRIBING OTHER MATTERS PERTAINING
THERETO; AND DECIARING AN EMERGENCY.
WHEREAS, the City of Little Rock, Arkansas (the "City ") is
a city of the first class; and
WHEREAS, the Board of Directors of the City has determined
that it would be in the best interests of the City to finance
the cost of a multipurpose events center; to finance renovation
of War Memorial Stadium; to finance expansion of the Statehouse
Convention Center; to finance street improvements throughout
the City; to finance drainage improvements throughout the City;
to finance the improvement of existing parks and to provide the
acquisition of parks for the City; to finance improvements to
the Little Rock Zoo; to finance the support of a housing and
neighborhood revitalization program; to finance an IMAX format
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1 theater in con ction with the Arkansas Museum of Science and
2 History; to finance expressway right -of -way acquisition
3 (collectively, the "Projects"); and
4 WHEREAS, it has been determined that the cost of the
5 Projects just enumerated, including incidental expenses and
6 expenditures in connection with accomplishing the Projects and
7 expenses in connection with authorizing and issuing the Sales
8 and Use Tax Bonds (hereinafter defined), can be financed by the
9 issuance of Sales and Use Tax Bonds (the °Bonds"); and
10 WHEREAS, the Sales and Use Tax Bonds can be issued under
11 the authority of Amendment No. 62 to the Constitution of the
12 State of Arkansas ( "Amendment 620) and Title 14, Chapter 164,
13 Subsection 3, of the Arkansas Code Annotated of 1987 (the
14 "Authorizing Legislation "); and
15 WHEREAS, the City can pay the principal of and interest on
16 the Sales and Use tax Bonds from a pledge of the proceeds of a
17 one -half of one percent (0.5 %) sales and use tax levied under
18 the authority of the Authorizing Legislation; and
19 WHEREAS, the purpose of this Ordinance is to submit to the
20 electors of the City the question of issuing Sales and Use Tax
21 Bonds under Amendment 62 and the Authorizing Legislation at a
22 special election called for that purpose to be paid from the
23 levy of the sales and use tax at the rate of one -half of one
24 percent (0.5 %) on the receipts from the sales within the City of
25 all goods and services which are subject to taxation under the
26 Arkansas Gross Receipts Tax Act of 1941, as amended, and the
27 receipts from storing, using or consuming within the City
28 tangible personal property under the Arkansas Compensating Tax
29 Act of 1949, as amended (the "Sales and Use Tax").
30 NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF DIRECTORS OF
31 THE CITY OF LITTLE ROCK, ARKANSAS:
32 SECTION 1. That there be, and there is hereby called, a
33 special election to be held on October 8, 1991, at which
34 election there shall be submitted to the electors of the City
35
36
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1 the question o issuing Sales and Use Ta Bonds under Amendment
2 62 and the Authorizing Legislation for the Projects.
3 SECTION 2. That in order to provide for the payment of the
4 principal and interest on the Bonds, there is hereby levied a
5 Sales and Use Tax. The levy of the Sales and Use Tax shall not
6 be effective until after the special election called in Section
7 1 above has been held and the issuance of the Bonds approved by
8 the voters.
9 SECTION 3. That the question of issuing the Bonds shall be
10 placed on the ballot for the election in substantially the
11 following form:
12
13 ADOPTION OF CAPITAL IMPROVEMENTS TAX
14
15 AUTHORIZATION TO LEVY A ONE -HALF OF ONE PERCENT
16 (0.5$) CITY OF LITTLE ROCK SALES AND USE TAX TO
17 FINANCE THE ISSUANCE OF BONDS FOR CAPITAL
18 IMPROVEMENTS SET FORTH BELOW.
19
20 Vote on measure by placing an x in the square
21 opposite the measure either for or against:
22
23 FOR adoption of a one -half of one percent
24 sales and use tax within the City of Little Rock
25 for the purpose of paying bonds for capital
26 improvements ........... ............................... ❑
27
28
29 AGAINST adoption of a one -half of one percent
30 sales and use tax within the City of Little Rock
31 for the purpose of paying bonds for capital
32 improvements ........... ............................... ❑
33
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PROPOS• MULTIPURPOSE EVENTS CENTER PROJECT
2
3
AUTHORIZATION OF SALES AND USE TAX BONDS FOR
4
FINANCING THE COST OF A MULTIPURPOSE EVENTS CENTER
5
IN THE CENTRAL BUSINESS DISTRICT AND APPROVAL TO
6
PLEDGE THE RECEIPTS FROM CITY SALES AND USE TAX FOR
7
PAYMENT THEREOF.
8
9
The issuance of sales and use tax bonds by the
10
City of Little Rock in the aggregate principal
11
amount of up to $42,100,000 for the purpose of
12
paying the costs of a multipurpose events center in
13
the central business district consisting of all
14
furnishings and equipment including, but not
15
limited to, sound equipment and a public address
16
system, seating, steel grillage and equipment for
17
stage operations and lighting, shell space for
18
private suites to be financed separately,
19
acoustical treatment, graphics, concession areas
20
and video at concessions, restrooms, audio at
21
restrooms, land acquisition, landscaping, limited
22
support surface parking, mechanical and electrical
23
systems, and to authorize the Board of Directors to
24
pledge the receipts from the one half of one
25
percent (0.5 %) Sales and Use Tax to pay the
26
principal of, interest on, and premium, if any, on
27
the bonds and all fees and expenses in connection
28
therewith.
29
30
Vote on measure by placing an x in the square
31
opposite the measure either for or against:
32
33
FOR authorization of the issuance of bonds in
34
the principal amount not to exceed $ 42,100,000 for
35
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the purpo• of paying the costs of multipurpose
2
events center in the central business district and
3
approval of the pledge of the one half of one
4
percent (0.5 %) City of Little Rock Sales and Use
5
Tax for payment thereof ............................... ❑
6
7
8
AGAINST authorization of the issuance of bonds
9
in the principal amount not to exceed $42,100,000
10
for the purpose of paying the costs of a
11
multipurpose events center in the central business
12
district and approval of the pledge of the one half
13
of one percent (0.5 %) City of Little Rock Sales and
14
Use Tax for payment thereof ........................... ❑
15
16
17
PROPOSED WAR MEMORIAL STADIUM RENOVATION PROJECT
18
19
AUTHORIZATION OF SALES AND USE TAX BONDS FOR
20
FINANCING THE COST OF RENOVATION AND EXPANSION OF
21
WAR MEMORIAL STADIUM AND APPROVAL TO PLEDGE
22
RECEIPTS FROM CITY SALES AND USE TAX FOR PAYMENT
23
THEREOF.
24
25
The issuance of sales and use tax bonds by the
26
City of Little Rock in the aggregate principal
27
amount of up to $15,725,000 for the purpose of
28
financing the cost of the renovation and expansion
29
of War Memorial Stadium to include among other
30
things the replacement of the playing surface,
31
weatherization of the stands, construction of new
32
restrooms and sewer lines, upgrading the
33
concessions area, repair or install electrical and
34
mechanical improvements including sounds systems
35
36
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and scoreboard or video facilities, construction of
upper deck areas to increase the seating capacity
by up to 10,000 seats, provide the structural
framework to permit building private suites to be
financed separately, and upgrade existing offices
and team facilities and to authorize the Board of
Directors of the City to pledge the receipts from
the one half of one percent (0.5 %) sales and use
tax to pay the principal of, interest on, and
premium, if any on the bonds and all fees and
expenses in connection therewith.
Vote on measure by placing an x in the square
opposite the measure either for or against:
FOR authorization of the issuance of bonds in
the principal amount not to exceed $15,725,000 for
the purpose of financing the cost of renovation and
expansion of War Memorial Stadium and approval of
the pledge of the one -half of one percent (0.5 %)
Sales and Use Tax for payment thereof ................. ❑
AGAINST authorization of the issuance of bonds
in the principal amount not to exceed $15,725,000
for the purpose of financing the cost of renovation
and expansion of War Memorial Stadium and approval
of the pledge of the one -half of one percent (0.5 %)
Sales and Use Tax for payment thereof ................. ❑
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PROP• D STATEHOUSE CONVENTION EXPANSION
AUTHORIZATION OF SALES AND USE TAX BONDS FOR
FINANCING THE COST OF EXPANDING THE STATEHOUSE
CONVENTION CENTER AND APPROVAL TO PLEDGE RECEIPTS
FROM CITY SALES AND USE TAX FOR PAYMENT THEREOF.
The issuance of sales and use tax bonds by the
City of Little Rock in the aggregate principal
amount of up to $15,175,000 for the purpose of
financing the cost of expanding the Statehouse
Convention Center including among other things
increasing the exhibition and meeting space,
providing furnishings, fixtures and equipment,
developing lighting and sound systems, doing
demolition work and sitework preparation, acquiring
land and rights -of -way, widening streets, paying
mechanical and electrical costs, and to authorize
the Board of Directors of the City to pledge the
receipts from the one half of one percent (0.5 %)
Sales and Use Tax to pay the principal of, interest
on, and premium, if any on the bonds and all fees
and expenses in connection therewith.
Vote on measure by placing an x in the square
opposite the measure either for or against:
FOR authorization of the issuance of sales and
use tax bonds in the principal amount not to exceed
$15,175,000 for the purpose of financing the cost
of expanding the Statehouse Convention Center and
approval of the pledge of the one -half of one
percent (0.5$) City of Little Rock Sales and Use
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Tax for payment thereof ............................... ❑
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AGAINST authorization of the issuance of sales
5
and use tax bonds in the principal amount not to
6
exceed $15,175,000 for the purpose of financing the
7
cost of expanding the Statehouse Convention Center
8
and approval of the pledge of the one half of one
9
percent (0.5 %) City of Little Rock Sales and Use
10
Tax for payment thereof ............................... ❑
11
12
13
PROPOSED STREET IMPROVEMENTS
14
15
AUTHORIZATION OF SALES AND USE TAX BONDS FOR
16
FINANCING THE COST OF IMPROVEMENTS TO THE STREETS
17
WITHIN THE CITY OF LITTLE ROCK AND APPROVAL TO
is
PLEDGE RECEIPTS FROM CITY SALES AND USE TAX FOR
lg
PAYMENT THEREOF.
20
21
The issuance of sales and use tax bonds by the
22
City of Little Rock in the aggregate principal
23
amount of up to $10,000,000 for the purpose of
24
financing the cost of improvements to the streets
25
of the City of Little Rock to include, among other
26
things, repair and replacement of street surfaces,
27
sidewalks, gutters, lighting, widening of streets,
28
construction of new streets, repair of alleyways,
24
placement of traffic signals, alteration of streets
30
to better provide for handicapped access and
handicapped parking, and to authorize the Board of
31
Directors of the City to pledge the receipts from
32
33
the one half of one percent (0.5%) sales and use
tax to pay the principal of, interest on, and
34
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1
premium, if any, on the bonds and all fees and
2
expenses in connection therewith.
3
4
Vote on measure by placing an x in the square
5
opposite the measure either for or against:
6
7
FOR authorization of the issuance of sales and
8
use tax bonds in the principal amount not to exceed
9
$10,000,000 for the purpose of financing the cost
10
of street improvements for the City and approval of
11
the pledge of the one -half of one percent (0.5 %)
12
City of Little Rock Sales and Use Tax for payment
13
thereof ................ ...............................
❑
14
15
16
AGAINST authorization of the issuance of sales
17
and use tax bonds in the principal amount not to
18
exceed $10,000,000 for the purpose of financing the
19
cost of street improvements for the City and
20
approval of the pledge of the one -half of one
21
percent (0.5 %) City of Little Rock Sales and Use
22
Tax for payment thereof ............................... ❑
23
24
25
26
PROPOSED DRAINAGE IMPROVEMENTS
27
28
AUTHORIZATION OF SALES AND USE TAX BONDS FOR
29
FINANCING THE COST OF DRAINAGE IMPROVEMENTS FOR THE
30
CITY OF LITTLE ROCK AND APPROVAL TO PLEDGE RECEIPTS
31
FROM CITY SALES AND USE TAX FOR PAYMENT THEREOF.
32
33
The issuance of sales and use tax bonds by the
34
City of Little Rock in the aggregate principal
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amount of up to $10,000,000 for the purpose of
2
financing the cost of drainage improvements for the
3
City of Little Rock to include, among other things,
4
the construction of curbs and gutters, drainage
5
systems and treatment facilities, and to authorize
6
the Board of Directors of the City to pledge the
7
receipts from the one half of one percent (0.5$)
8
sales and use tax to pay the principal of, interest
9
on, and premium, if any, on the bonds and all fees
10
and expenses in connection therewith.
11
12
Vote on measure by placing an x in the square
13
opposite the measure either for or against:
14
15
FOR authorization of the issuance of sales and
16
use tax bonds in the principal amount not to exceed
17
$10,000,000 for the purpose of financing the cost
18
of drainage improvements for the City and approval
19
of the pledge of the one -half of one percent (0.5 %)
20
City of Little Rock Sales and Use Tax for payment
21
thereof ................. ..............................�
22
23
24
AGAINST authorization of the issuance of sales
25
and use tax bonds in the principal amount not to
26
exceed $10,000,000 for the purpose of financing the
27
cost of drainage improvements for the City and
28
approval of the pledge of the one -half of one
29
percent (0.5 %) City of Little Rock Sales and Use
30
Tax for payment thereof ...............................
❑
31
32
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34
PROPOSED PARK ACQUISITIONS AND IMPROVEMENTS
35
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AUTHORIZATION OF SALES AND USE TAX BONDS FOR
FINANCING THE COST OF ACQUISITION AND IMPROVEMENTS
FOR PARKS FOR THE CITY OF LITTLE ROCK AND APPROVAL
TO PLEDGE RECEIPTS FROM CITY SALES AND USE TAX FOR
PAYMENT THEREOF.
The issuance of sales and use tax bonds by the
City of Little Rock in the aggregate principal
amount of up to $7,500,000 for the purpose of
financing the cost of acquisition and improvements
of park properties for the City of Little Rock
including, among other things, land acquisition
costs, the costs of constructing improvements
within the parks including soccer fields, golf
courses, water and sewer lines and facilities,
concession stands, amusement rides, biking, jogging
and nature trails, tennis courts, baseball fields,
exercise areas, dressing areas, restrooms,
pavilions, outdoor cooking and camping facilities,
spectator stands and press boxes, swimming pools,
boating areas, boat launching docks, and to
authorize the Board of Directors of the City to
pledge the receipts from the one half of one
percent (0.5 %) sales and use tax to pay the
principal of, interest on, and premium, if any, on
the bonds and all fees and expenses in connection
therewith.
Vote on measure by placing an x in the square
opposite the measure either for or against:
FOR authorization of the issuance of sales and
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use tax bo• in the principal amount not to exceed
2
$7,500,000 for the purpose of financing the cost of
3
park acquisition and improvements for the City and
4
approval of the pledge of the one -half of one
5
percent (0.5$) City of Little Rock Sales and Use
6
Tax for payment thereof ...............................
❑
7
8
9
AGAINST authorization of the issuance of sales
10
and use tax bonds in the principal amount not to
11
exceed $7,500,000 for the purpose of financing the
12
cost of park acquisition and improvements for the
13
City and approval of the pledge of the one -half of
14
one percent (0.5$) City of Little Rock Sales and
15
Use Tax for payment thereof ...........................
❑
16
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18
ARKANSAS ARTS CENTER IMPROVEMENTS
19
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21
AUTHORIZATION OF SALES AND USE TAX BONDS FOR
22
FINANCING THE COST OF MAKING IMPROVEMENTS TO THE
23
ARKANSAS ARTS CENTER, MATCHED ON A DOLLAR FOR
Z4
DOLLAR BASIS, AND APPROVAL TO PLEDGE RECEIPTS FROM
25
CITY SALES AND USE TAX FOR PAYMENT THEREOF.
26
27
The issuance of sales and use tax bonds by the
28
City of Little Rock in the aggregate principal
29
amount of up to $750,000 for the purpose of
30
financing the cost of improvements to the Arkansas
31
Arts Center including improvements to the
32
mechanical and electrical systems, sound systems,
33
lighting systems, kitchen facilities, acquisition
34
of exhibits, improvements to water and sewer
35
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facilities, expansion of areas, purchase of
furnishings, equipment and fixtures, improvements
or expansion of parking facilities, such $750,000
to be matched by the Arkansas Arts Center and to
authorize the Board of Directors of the City to
pledge the receipts from the one half of one
percent (0.5 %) sales and use tax to pay the
principal of, interest on, and premium, if any, on
the bonds and all fees and expenses in connection
therewith.
Vote on measure by placing an x in the square
opposite the measure either for or against:
FOR authorization of the issuance of sales and
use tax bonds in the principal amount not to exceed
$750,000 for the purpose of financing the cost of
improvements to the Arkansas Arts Center and
approval of the pledge of the one -half of one
percent (0.5 %) City of Little Rock Sales and Use
Tax for payment thereof ............................... ❑
AGAINST authorization of the issuance of sales
and use tax bonds in the principal amount not to
exceed $750,000 for the purpose of financing the
cost of improvements to the Arkansas Arts Center
and approval of the pledge of the one -half of one
percent (0.5 %) City of Little Rock Sales and Use
Taxfor payment thereof ............................... ❑
LITTLE ROCK ZOO IMPROVEMENTS
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AUTHORIZATION OF SALES AND USE T• BONDS FOR
2
FINANCING THE COST OF MAKING IMPROVEMENTS TO THE
3
LITTLE ROCK ZOO AND APPROVAL TO PLEDGE RECEIPTS
4
FROM CITY SALES AND USE TAX FOR PAYMENT THEREOF.
5
6
The issuance of sales and use tax bonds by the
7
City of Little Rock in the aggregate principal
8
amount of up to $2,500,000 for the purpose of
9
financing the cost of improvements to the Little
10
Rock Zoo including improvements to the children's
11
zoo, construction of a zoo education and
12
administration building, improvements to zoo walks
13
and driveways, landscaping, improvements to the
14
mechanical and electrical systems, expansion of
15
animal displays, acquisition of new animals for
16
exhibit, improvements and construction of
17
concession stands, facilities for the elderly, the
18
handicapped and children, facilities for the care
19
and feeding of the animals, improvements to water
20
and sewer facilities, expansion of areas, purchase
21
of furnishings, equipment and fixtures,
22
improvements or expansion of parking facilities,
23
and to authorize the Board of Directors of the City
24
to pledge the receipts from the one half of one
25
percent (0.5 %) sales and use tax to pay the
26
principal of, interest on, and premium, if any, on
27
the bonds and all fees and expenses in connection
28
therewith.
29
30
Vote on measure by placing an x in the square
31
opposite the measure either for or against:
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FOR authorization of the issuance of sales and
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use tax bonds in the principal amount not to exceed
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$2,500,0000 r the purpose of financing the cost of
2
improvements to the Little Rock Zoo and approval of
3
the pledge of the one -half of one percent (0.5$)
4
City of Little Rock Sales and Use Tax for payment
5
thereof ............... ............................... ❑
6
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AGAINST authorization of the issuance of sales
9
and use tax bonds in the principal amount not to
10
exceed $2,500,000 for the purpose of financing the
11
cost of improvements to the Little Rock Zoo and
12
approval of the pledge of the one -half of one
13
percent (0.5$) City of Little Rock Sales and Use
14
Tax for payment thereof ............................... ❑
15
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IMAX THEATER CONSTRUCTION
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19
AUTHORIZATION OF SALES AND USE TAX BONDS FOR
20
FINANCING THE CONSTRUCTION OF AN IMAX THEATER IN
21
CONJUNCTION WITH THE ARKANSAS MUSEUM OF SCIENCE AND
22
HISTORY AND APPROVAL TO PLEDGE RECEIPTS FROM CITY
23
SALES AND USE TAX FOR PAYMENT THEREOF.
24
25
The issuance of sales and use tax bonds by the
26
City of Little Rock in the aggregate principal
27
amount of up to $4,050,000 for the purpose of
28
financing the construction of a facility to house
29
an IMAX format motion picture theater in
30
conjunction with the Arkansas Museum of Science and
31
History, including costs to acquire land for the
32
project, do the sitework, finish the interior,
33
provide for seating, provide for mechanical and
34
electrical systems, and water and sewer facilities,
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provide for concession stands, facilit es for the
2
elderly, the handicapped, purchase furnishings,
3
equipment and fixtures, and to authorize the Hoard
4
of Directors of the City to pledge the receipts
5
from the one half of one percent (0.5 %) sales and
6
use tax to pay the principal of, interest on, and
7
premium, if any, on the bonds and all fees and
8
expenses in connection therewith.
9
10
Vote on measure by placing an x in the square
11
opposite the measure either for or against:
12
13
FOR authorization of the issuance of sales and
14
use tax bonds in the principal amount not to exceed
15
$4,050,000 for the purpose of financing the cost of
16
construction of an IMAX format motion picture
17
theater in conjunction with the Arkansas Museum of
18
Science and History and approval of the pledge of
19
the one -half of one percent (0.5 %) City of Little
20
21
Rock Sales and Use Tax for Payment thereof............
❑
22
23
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AGAINST authorization of the issuance of sales
25
and use tax bonds in the principal amount not to
26
exceed $4,050,000 for the purpose of financing the
27
cost of construction of an IMAX format motion
28
picture theater in conjunction with the Arkansas
29
Museum of Science and History and approval of the
30
pledge of the one -half of one percent (0.5 %) City
31
of Little Rock Sales and Use Tax for payment
32
thereof ................ ...............................
❑
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RIGHT -OF -WAY ACQUISITION
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AUTHORIZATION OF SALES AND USE TAX BONDS FOR
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PAYMENT OF THE COST OF ACQUIRING RIGHT -OF -WAY FOR
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PURPOSES OF ACCOMPLISHING STREET AND EXPRESSWAY
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CONSTRUCTION, AND FOR APPROVAL TO PLEDGE RECEIPTS
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FROM CITY SALES AND USE TAX FOR PAYMENT THEREOF.
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The issuance of sales and use tax bonds by the
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City of Little Rock in the aggregate principal
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amount of up to $2,000,000 for the purpose of
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purchasing right -of -ways for improvements to Asher
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Avenue and for improvements to the South Loop, and
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to authorize the Board of Directors of the City to
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pledge the receipts from the one half of one
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percent (0.5 %) sales and use tax to pay the
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principal of, interest on, and premium, if any, on
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the bonds and all fees and expenses in connection
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therewith.
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Vote on measure by placing an x in the square
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opposite the measure either for or against:
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FOR authorization of the issuance of sales and
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use tax bonds in the principal amount not to exceed
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$2,000,000 for the purpose of financing the
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purchase of right -of -way needed for improvements to
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Asher Avenue and the South Loop and approval of the
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pledge of the one -half of one percent (0.5 %) City
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of Little Rock Sales and Use Tax for payment thereof..
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AGAINST authorization of the issuance of sales
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and use bonds in the principal amount not to
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exceed $2,000,000 for the purpose of financing the
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purchase of right of way needed for improvements to
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Asher Avenue and the South Loop and approval of the
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pledge of the one -half of one percent (0.5 %) City
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of Little Rock Sales and Use Tax for payment thereof.. ❑
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SUPPORT OF NEIGHBORHOOD AND HOUSING REVITALIZATION
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AUTHORIZATION OF SALES AND USE TAX BONDS FOR
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PAYMENT OF THE COST OF SUPPORT FOR THE
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REHABILITATION OF RESIDENTIAL HOUSING FOR LOW AND
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MODERATE INCOME FAMILIES AND FOR APPROVAL TO PLEDGE
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RECEIPTS FROM CITY SALES AND USE TAX FOR PAYMENT
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THEREOF.
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The issuance of sales and use tax bonds by the
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City of Little Rock in the aggregate principal
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amount of up to $2,000,000 for the purpose of
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acquiring property for City housing programs for
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residential housing for low and moderate income,
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elderly or handicapped persons, and families, and
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to provide for the physical betterment of City
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neighborhoods by financing the demolition of
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deteriorated and unsafe housing thereby helping to
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revitalize neighborhoods within the City of Little
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Rock, and to authorize the Board of Directors of
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the City to pledge the receipts from the one half
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of one percent (0.5%) sales and use tax to pay the
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principal of, interest on, and premium, if any, on
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the bonds and all fees and expenses in connection
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therewith.
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Vote on measure by placing an x in the square
opposite the measure either for or against:
FOR authorization of the issuance of sales and
use tax bonds in the principal amount not to exceed
$2,000,000 for the purpose of support of
neighborhood residential housing revitalization and
for the approval of the pledge of the one -half of
one percent (0.5$) City of Little Rock Sales and
M M M
Use for payment thereof ............................... ❑
AGAINST authorization of the issuance of sales
and use tax bonds in the principal amount not to
exceed $2,000,000 for the purpose of support of
neighborhood residential housing revitalization and
for the approval of the pledge of the one -half of
one percent (0.5 %) City of Little Rock Sales and
Use Tax for payment thereof ...........................F1
If Bonds for all purposes are approved by the
electors, the Bonds may be combined into a single
issue of bonds for the purpose of providing the
necessary funds to pay the cost of the approved
improvements. The Bonds may be issued in series
from time to time. The Bonds will be secured by a
pledge of all or a portion of one half of one
percent (0.5 %) sales and use tax levied within the
City.
[End of ballot on this issue].
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SECTION . The Clerk shall submit copy of the ballot
title to the Pulaski County Election Commission within 30 days
of the passage of this ordinance.
SECTION 5. The ability of the City to address capital
programs needed to enhance the City and to provide for jobs and
economic growth and otherwise provide for the health, safety and
welfare of the community is in jeopardy without additional
funds. An emergency is therefore declared to exist and this
ordinance shall be in full force and effect from and after the
date of its passage.
PASSED: June 18, 1991
ATTEST:
CIT ROBBIE HANCOCK
APPROVED AS TO FORM:
THOMAS x. CARPENTER
CITY ATTO /l
BY:
ASSISTANT CITY ATTORNEY
P-JLyw0-dR!SH1AR0N
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CERTIFICATE
The undersigned, City Clerk of Little Rock, Arkansas,
hereby certifies that the foregoing pages, numbered 1 to 20,
inclusive, are a true and perfect copy of Ordinance No.
16,060, passed at a regular session of the Board of
Directors of the City of Little Rock, Arkansas, held at the
regular meeting place of the Board of Directors at 6:00
o'clock P.M. on the 18th day of June, 1991, and that the
Ordinance is of record in this office.
(S E A L)
City Clerk Rob ie Hancock
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CERTIFICATE
The undersigned, City Clerk of Little Rock, Arkansas,
hereby certifies that the foregoing pages, numbered 1 to 20,
inclusive, are a true and perfect copy of Ordinance No.
16,060, passed at a regular session of the Board of
Directors of the City of Little Rock, Arkansas, held at the
regular meeting place of the Board of Directors at 6:00
o'clock P.M. on the 18th day of June, 1991, and that the
Ordinance is of record in this office.
(S E A L)
City Clerk Rob ie Hancock
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