HomeMy WebLinkAbout17246ORDINANCE NO. 17 , 2
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4 AN ORDINANCE TO AMEND LITTLE ROCK, ARKANSAS
5 ORDINANCE NO. 17,068 (THE 1996 BUDGET ORDINANCE);
6 APPROPRIATING FUNDS FROM THE LOCAL ONE -HALF CENT
7 SALES TAX REVENUES TO FUND MUSEUM ENHANCEMENTS; AND
a FOR OTHER PURPOSES.
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11 WHEREAS, the local sales tax approved by voters on December 14, 1993
12 provided funds designed to address many needs of the community; and
13 WHEREAS, one of the community needs to be funded from the local sales tax
14 was the development of a new Museum of Science and History; and
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16 WHEREAS, the recommended funding for the new Museum totalled $4,000,000,
17 projected to be appropriated in three installments; and
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19 WHEREAS, the Board of Directors appropriated the first installment of the
20 Museum funding of $3,000,000 in Ordinance No. 16,674 on June 1, 1994, and
21 construction and planning for the new Museum is progressing on or ahead of schedule,
22 and the Museum desires to secure the second installment of its funding in 1996; and
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24 WHEREAS, the Second Quarter Financial Report for the City of Little Rock
25 indicated that collections of the local sales tax during 1996 should exceed the original
26 budget by $500,000.
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28 NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF DIRECTORS OF
29 THE CITY OF LITTLE ROCK, ARKANSAS:
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31 SECTION 1. The sum of $500,000 is hereby appropriated from the General
32 Fund to provide additional funding for the renovation and development of a new
33 Museum of Science and History, and the Finance Department is directed to transfer this
34 sum to the Museum Special Projects Fund account.
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SECTION 2. The Board of Directors acknowledges that the funding for the new
Museum was a significant component of the FUTURE - Little Rock proposals funded
by the local sales tax, and that completion of this project in a timely manner is vital to
the quality of life afforded the citizens of this community. Therefore, the provisions of
Board Resolution No. 9,587 regarding disposition of local sales tax collections in excess
of budgeted amounts are hereby waived in so far as they apply to the additional
$500,000 projected to be collected in 1996 above the original budgeted amount, so that
funds will be available for this Museum appropriation.
PASSED: July 16, 1996
ATTEST:
APPROVED:
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APPROVED AS TO FORM:
11HOMAS M.
'AiF1PER'PER-
CITY ATTORNEY