168221 707
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3 ORDINANCE NO. 16,822
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5 AN ORDINANCE ESTABLISHING A RESERVE WITH FUNDS FROM
6 THE ONE -HALF CENT SALES TAX REVENUES TO FUND FUTURE
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8 SERVICE INITIATIVES.
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10 WHEREAS, on December 14, 1993, voters of the City of Little Rock approved
11 a one -half cent local sales tax effective February 1, 1994, to fund various new service
12 initiatives designed to address many needs of the community; and
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14 WHEREAS, during 1994 the Board of Directors appropriated funds from the one -
15 half cent sales tax revenues to provide for the various service initiatives, and funds
16 remain unspent for certain of the initiatives and the Board of Directors wishes to reserve
17 those funds for future appropriations to meet the needs of the community
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19 NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF DIRECTORS OF
20 THE CITY OF LITTLE ROCK, ARKANSAS;
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22 SECTION 1. The sum of $272,000 is hereby appropriated from the operating
23 budgets of the organizations listed below and designated as a reserve in the General
24 Fund to be appropriated for future service initiatives consistent with those identified
25 with the proceeds from the one -half cent local sales tax:
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27 Organization 1030 $ 65,000
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Organization 1033 95,000
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30 Organization 1036 77,000
31 Organization 1500 35,000
32 Total $272,000
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34 SECTION 2. The sum of $135,000 is hereby appropriated from the operating
35 budget of Organization Number 2270 and designated as a reserve in the Street Fund to
36 be appropriated to provide future street lighting services.
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705
SECTION 3. DECLARING AN EMERGENCY: It is hereby found and
determined that there is an immediate and urgent need to reserve these proceeds from
the one -half cent local sales tax approved by the voters of the City of Little Rock, and
that these funds are essential to provide services for the protection of the public safety
and welfare; an emergency is therefore declared to exist and this Ordinance shall be in
full force and effect from and after the date of its adoption.
PASSED: December 20, 1994
ATTEST:
APPROVED AS TO FORM:
Lei 1
APPROVED:
III � l 1