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12574ORDINANCE NO. 12,574 AN ORDINANCE LEVYING A PRIVILEGE TAX UPON THE LITTLE ROCK MUNICIPAL WATER WORKS, AUTHORIZING PASSING ON SAID TAX TO RESIDENT WATER CONSUMERS AND DECLARING AN EMERGENCY. WHEREAS, under the provisions of Act 50 of 1965, the legislature of the State of Arkansas authorized municipally owned waterworks systems to make certain payments to the general funds of municipalities in lieu of taxes, in return for police, fire and health protection and in return for administrative and other services furnished such waterworks systems by municipalities; and WHEREAS, the sums authorized to be paid in lieu of taxes have now become inequitable in the City of Little Rock compared to the amount of taxes to be paid the City by other utilities and in view of the increased cost of services furnished by the City. NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF DIRECTORS OF THE CITY OF LITTLE ROCK, ARKANSAS. SECTION 1. There is hereby levied upon the Little Rock Municipal Water Works a privilege tax in the amount of One Hundred Twenty Five Thousand Dollars ($125,000.00) for the year 1972. Said tax shall be paid in twelve equal monthly installments within fifteen days after the end of each calendar month of the year. SECTION 2. The taxes hereby levied shall be paid in add- ition to any sums paid by the Little Rock Municipal Water Works under the provisions of Act 50 of 1965. SECTION.3. The Little Rock Municipal Water Works is hereby authorized to pass on said taxes by levying an additional charge of twenty -five cents (25�) a month per meter upon resident consumers. The Water Works may terminate the services of any consumer who fails to pay such charge when due. 4 M -2- SECTION 4. The Board of Directors of the City of Little Rock has determined that governmental services of the City are declining rapidly in quantity and quality because of inadequate funds. An emergency is thereby created and is hereby declared and this ordinance, being necessary for the immediate preservation of the public health, safety and welfare, shall be in full force and effect from and after -- its passage, PASSED: December 1, 1971 ATTEST: APPROVED: 9t"yCle k Mayor