1664 RESOLUTION NO. 1664.
A RESOLUTION RE?UF$TING THE MAYOR AND THE FINANCE COMMITTEE OF THE CITY
COUNCIL OF THE CITY OF LITTLE ROCK TO PRESENT TO TEE LITTLE ROCK CITY
COUNCIL A RECAST TAX STRUCTURE.
WHEREAS, past policies of financing capital improvement programs have
proven to be a bad usage of the taxpayers dollar by the extreme amount of
interest payment on same, and
WHEREAS, it is sound business for a city to be on a pay-as-you-go- basis
for capital improvements as well as operating expenses, and
WHEREAS, the City government is at this time preparing plans for many
major capital improvements, and
WHEREAS, the City Government must have a financial plan to make the capi-
tal improvement plans workable, and
WHEREAS, the City Government should be receiving hundreds of thousand of
dollars annually from privately and publically owned utilities from State-
collected , locally-shared taxes and other sources, to more evenly dis-
tribute the cost of the capital improvement programs and operating ex-
penses, NOW THEREFORE
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LITTLE ROCK, ARKANSAS.
SECTION 1. The Mayor and the City Council Finance Committee is
hereby respectfully requested to investigate, study, analyze and ascertain
means of recasting the tax structure of the City of Little Rock so as to
more evenly distribute the cost of capital improvement programs and
operating expenses, the report of these findings shall be reported to the
Little hock City Council who shall then pass or refuse to pass ordinances
presented by the Mayor and the City Council Finance Committee. Any ex-
pense incurred by the Mayor and City Council Finance Committee in the
reegonable discharge of the duties outlined above shall be repaid by the
city of Little Rock out of appropriate funds.
SECTION 2. This resolution shall be effective immediately upon its
passage.
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ADOPTED: August 7 , 1944.
MAYOR
ATTEST:
CITY CLERK
C(A-k-1/10 `FL'
VETO SUSTAINED. August 28, 944.