HomeMy WebLinkAbout17025• • 502
ORDINANCE NO. 17,025
AN ORDINANCE APPROVING THE AMENDED PETITION FOR TWIN
LAKES RECREATION IMPROVEMENT DISTRICT NO. 1 OF LITTLE
ROCK, ARKANSAS; ENLARGING THE PURPOSES FOR WHICH THE
DISTRICT WAS FORMED; ASSESSING THE BENEFITS TO BE
RECEIVED BY THE OWNERS OF PROPERTY WITHIN THE DISTRICT;
AND FOR OTHER PURPOSES.
WHEREAS, parties claiming to be a majority in value or more in
assessed value of real property located within the territory
hereinafter described have filed petitions praying that Ordinance
No. 13,086 of the City of Little Rock, Arkansas, adopted
September 2, 1975 (the "Original Ordinance ") be amended to broaden
the powers of the District to allow construction of additional
recreational improvements; and
WHEREAS, after due notice as required by law, the Board of
Directors of the City of Little Rock, Arkansas, has heard all the
parties desiring to be heard, and has ascertained that said
petitions were signed by a majority or more in assessed value of
the owners of real property within said territory; and
WHEREAS, the Commissioners of the District have made and filed
plans for the improvements with the City Clerk and have reported to
the Board of Directors the estimated cost of the improvements; and
WHEREAS, the assessments have been duly made by the Board of
Assessors of the District, who were appointed by the Board, of
Directors, and filed in the office of the City Clerk pursuant to
law, and notice of such filing was duly published in the Arkansas
Democrat - Gazette, a newspaper published in and of general
circulation in the City of Little Rock, Arkansas, on the 10th day
of November, 1995; and
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WHEREAS, no protest of any assessment has been received; and
WHEREAS, the benefits received by each and every block, lot
and parcel of real property situated in the District equal or
exceed the local assessment thereon; and
WHEREAS, the estimated cost of the improvement to the District
is $200,000; and
WHEREAS, the total assessed benefits are in the amount of
$746,730.
NOW, THEREFORE, BE IT ORDAINED by the Board of Directors of
the City of Little Rock, Arkansas:
Section 1. That the powers and purposes of Twin Lakes
Recreation Improvement District No. 1 of Little Rock, Arkansas,
previously established an improvement district embracing the
property in the City of Little Rock, County of Pulaski, State of
Arkansas, described in the attached Exhibit A, are hereby expanded
to include all of the purposes enumerated in A.C.A. §14 -88 -202,
including, but not limited to, the constructing of recreational
facilities for the benefit of the property owners in the District,
and all purposes and activities incidental to and necessary in
connection with such construction, either within or without the
boundaries of the District, including the acquisition of any
required rights -of -way, if necessary, and for the purpose of
maintaining, repairing and operating any such facilities and
improvements; said purposes to be accomplished in the manner and of
the materials that the Commissioners of the District shall deem to
be in the best interest of the District, and the cost thereof to be
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assessed upon the real property, described in Exhibit A, according
to the benefits received.
Said District shall continue to be known as "Twin Lakes
Recreation Improvement District No. 1 of Little Rock, Arkansas ";
and David Carr and Carl Williams, who are owners of real property
in said District, are hereby named Commissioners and shall compose
the Board of Improvement of the District.
Section 2. That each of the blocks, lots and parcel of real
property in the District be assessed according to the assessment
list of the District as the same now remains in the office of the
City Clerk, and that 6.6667 percent of the assessment of each of
the blocks, lots and parcels shall be collected by the County
Collector with the first installment of general taxes becoming due
in the year 1996 and annually thereafter with the first installment
of general taxes until the whole of the local assessment shall be
paid. Of the 6.6667 percent of the assessment collected each year
of each of the blocks, lots and parcels, $21,000 shall be allocated
to maintenance of the District's improvements, and the remainder
allocated to retirement of the District's proposed construction
bonds. Upon payment in full of the District's bonds, the levy
shall be reduced to a level sufficient to generate $21,000 per year
for maintenance and operation of the improvements, and the District
shall not cease to exist, but shall remain in existence for the
purpose of maintaining and operating the improvements.
Section 3. This Ordinance shall take effect and be in force
from and after its passage.
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PASSED: November 21, 1995.
ATTEST:
City Clerk-,_obbie Hancock
j:mhk3609.065
4
APPROVED:
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May r� Jim Dailey
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PASSED: November 21, 1995.
ATTEST:
City Clerk-,_obbie Hancock
j:mhk3609.065
4
APPROVED:
W44zAA,gWj,"
May r� Jim Dailey
EXHIBIT A
LEGAL DESCRIPTION
The following property in the City of Little Rock, Pulaski County, Arkansas, to -wit:
A part of the NE' /4 and the SE' /4 of Section 10, TIN, ROW, Pulaski County,
Arkansas, more particularly described as:
All of Sections E, F, and G, Twin Lakes Subdivision, consisting of Lots 274 to 350,
inclusive, (Section E), Lots 351 to 469, inclusive, (Section F), and Lots 470 to 513,
inclusive, 513 -A and 514 to 576, inclusive, (Section G), containing 85.1 acres, more or less;
Also a portion of the NE' /4 and the SE' /4 of said Section 10 not platted into Twin
Lakes Subdivision, more particularly described as:
Beginning at the NE corner of the SE' /4 of said Section 10, thence S 639.19 feet to
the north boundary of Section "G ", Twin Lakes Subdivision, thence along said north
boundary as follows: N 76o 37' W 403.22 feet, thence N 45o 37' W 330 feet, thence N 630
37' W 300 feet, thence N 52o 37' W 300 feet to the intersection with the south boundary of
Section "F", Twin Lakes Subdivision; thence along said south boundary as follows: N 840
23' E 250 feet, thence N 70023' E 270 feet, thence N 890 54' E 627.1 feet to the East line
of NE' /4 of Section 10, TIN, ROW, thence S 116.9 feet along said east line to the point of
beginning, containing 11.79 acres, more or less.
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