HomeMy WebLinkAbout19849ORDINANCE NO. 19,849
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3 AN ORDINANCE REASSESSING THE BENEFITS TO BE RECEIVED BY THE OWNERS
4 OF EACH OF THE SEVERAL LOTS, BLOCKS, AND PARCELS OF LAND WITHIN
5 RIVERDALE LEVEE IMPROVEMENT DISTRICT NO. 134 OF LITTLE ROCK,
6 ARKANSAS; DECLARING AN EMERGENCY; AND FOR OTHER PURPOSES.
7
8 WHEREAS, Riverdale Levee Improvement District No. 134 of Little Rock, Arkansas (the "District ") is
9 a duly created and existing municipal improvement district organized under Ordinance No. 12,932,
10 adopted by the City Board of the City of Little Rock, Arkansas on May 21, 1974; and
I l WHEREAS, the duly appointed Board of Commissioners of the District has determined that certain
12 improvements (the "Improvements ") to the levee and drainage system of the District are necessary in
13 order to provide the continued protection and benefits of the system, and has filed its report
14 describing the Improvements and the estimated cost thereof with the City Clerk; and
15 WHEREAS, the estimated cost of the Improvements is $1,635,000; and
16 WHEREAS, the Commissioners have determined that the Improvements can be accomplished only if
17 its outstanding $375,000 original principal amount Special Assessment Capital Improvement Bond,
18 Series 2005, is refunded, and that the estimated cost of the refunding is $365,000; and
19 WHEREAS, the Commissioners have determined, pursuant to law, that the cost of the
20 Improvements and the refunding shall be assessed upon the real property of the District according to
21 the benefits received; and
22 WHEREAS, the Assessors for the District have filed their Certificate to Reassessment List with the
23 City Clerk and notice of the filing was published one time on November 2, 2007 in the Arkansas
24 Democrat - Gazette; and
25 WHEREAS, said Reassessment List shows that the benefits received by each and every block, lot,
26 and parcel of real property situated in the District total $6,002,467, which amount equals or exceeds
27 the local assessment thereon;
28 NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF DIRECTORS OF THE CITY OF LITTLE
29 ROCK, ARKANSAS:
30 Section 1. The said several blocks, lots, and parcels of real property in the District be reassessed
31 according to the assessment list for the District as the same now remains in the office of the City Clerk,
32 and that 5.3 percent of the assessment of each of said blocks, lots, and parcels shall be collected by
33 the County Collector of Pulaski County on or before October 10, 2008 and 5.3 percent of the
34 assessment shall be collected with the first installment of general taxes coming due in each year
35 thereafter, beginning in the year 2009, until the whole of said local assessment shall be paid.
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Ordinance
Reassessing Benefits in Riverdale Improvement District
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Section 2. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase,
or word of this ordinance is declared or adjudged to be invalid or unconstitutional, such declaration or
adjudication shalt not affect the remaining portions of this ordinance, which shalt remain in full force
and effect as if the portion so declared or adjudged invalid or unconstitutional was not originally a part
of this ordinance.
Section 3. Repealer. All ordinances and resolutions inconsistent with the provisions of this
resolution are hereby repealed to the extent of such inconsistency.
Section 4. The Board of Directors hereby determines that the District is in dire need of funds for
making the Improvements and that an appropriate way to provide such funds is by reassessment of the
benefits received by each and every block, block, and parcel of real property situated within the
District, and that this Ordinance shall be given immediate effect so that the new funds may be
obtained as soon as possible. Therefore, an emergency is hereby declared to exist 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 and approval.
PASSED: November 6, 2007
ATTEST:
7 Alz V " " /, I � �'
Na c ood, Ci C er
APPROVED AS O LEGAL FORM:
Itt.
Thomas M. Carpenter, City Att ey
APPROVED:
d
Mark Stodola, Mayor
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