HomeMy WebLinkAboutOrdinance 3206 MICROFILMED
ORDINANCE NO . 3206 tt�eS
AN ORDINANCE DETERMINING THE NECESSITY OF THE NC&�OF $4 , 000 , 000 OF CAPITAL IMPROVEMENT BONDS BY CSTY
OF FAYETTEVILLE , ARKANSAS FOR THE PURPOSE OF PR Ri S:DFNG
A PORTION OF THE FINANCING NECESSARY TO CONSTkU,Ctlp��t�
An ' ARTS CENTER ; CALLING A SPECIAL ELECTION 6& 11- e -
QUESTION OF THE ISSUANCE OF THE BONDS ; DECLARING 'AN; :F�yq9
EMERGENCY ; AND FOR OTHER PURPOSES .
BE IT ORDAINED BY THE BOARD OF DIRECTORS OF THE CITY OF
FAYETTEVILLE , ARKANSAS THAT :
SECTION 1 . The Board of Directors hereby determines that
the issuance of $4 , 000 , 000 of Capital Improvement Bonds pursuant
to Amendment 62 to the Arkansas Constitution is necessary for
the purpose of providing a portion of the financing necessary to
construct . ' an • . arts center estimated to cost $ 6 , 000 , 000 . Said
Bonds shall be secured by a pledge of and lien upon 20% of the
City ' s share of revenues from the local one percent ( 1% ) sales
and use tag levied by Washington County , Arkansas , all as more
specifically provided and described in subsequent ordinances of
the City providing for the Bonds .
SECTION 2 . An election is hereby called to be held at the
usual polling places in the City on October 7 , 1986 , at which
1 election there shall be submitted to the electors of the City
the question of issuing $4 , 000 , 000 of Capital Improvement Bonds
by the City of Fayetteville , Arkansas , for the purpose of
providing a portion of the financing necessary to construct . a
an arts center , said Bonds to be secured by a pledge of 20% of
the City ' s share of revenues from the local one percent ( 1 % )
sales and use tag levied by Washington County , Arkansas .
SECTION 3 . The question shall be placed on the ballot for
election in substantially the following form :
There is submitted to the qualified electors of the City
of Fayetteville , Arkansas , the question of issuing
$ 4 , 000 , 000 of Capital Improvement Bonds , or such lesser
amount as shall be determined to be issued by the Board
of Directors of the Cit for the
City , purpose of providing a
portion of the financing necessary to construct an
arts center estimated to cost $ 6 , 000 , 000 , said Bonds to
be secured by a pledge of 20% of the City ' s share of
LIBER 1197PAGE 091
revenues from the local one percent ( 1% ) sales and use
tax levied by Washington County , Arkansas , such taxes to
be pledged to pay the principal of , interest on , and
fees and expenses in connection with said Bonds .
Vote on the question by placing an " X " in one of the
following squares , either for or against :
For capital improvement bond issue
in the amount of $4 , 000 , 000
Against capital improvement bond issue
in the amount of $4 , 000 , 000
SECTION 4 . Notice of the election shall be given by the
City Clerk by publication of a notice at least ten ( 10 ) days
prior to the date of the election in a newspaper of general
circulation within the City . No other notice by any other
public official shall be required . The election shall otherwise
be held and conducted and the vote cast and the results declared
in the manner provided for municipal elections under
implementing legislation for Amendment 62 and the election laws
of the State then in effect . Only qualified electors of the
City shall have the right to vote at the election .
SECTION 5 . A certified copy of this Ordinance shall be
furnished to the Commissioner of Revenue of the State of
Arkansas , the Treasurer of the State of Arkansas and to the
Washington County Board of Election Commissioners so that it may
place the question on the ballot for the election , provide the
proper election officials and supplies , and canvass the vote on
the question .
SECTION 6 . The results of the election , after the vote has
been canvassed by the Washington County Board of Election
Commissioners , shall be proclaimed by the Mayor . The Mayor ' s
proclamation shall be published one time in a newspaper having
general circulation in the City . The results as proclaimed by
the Mayor shall be conclusive unless attacked in the Circuit
Court of Washington County within thirty ( 30 ) days after the
date of publication of the proclamation .
SECTION 7 . The aforesaid sales and use tax shall be levied
and collected at least until the bonds authorized by this
ordinance shall have been retired in full , notwithstanding the
repeal of such tax by Washington County , Arkansas .
SECTION 8 , The Board of Directors hereby determines that
the City of Fayetteville is in dire need of additional cultural ,
recreational and entertainment facilities ; that an appropriate
way to provide such funds is by the issuance of bonds payable
from the taxes and revenues previously described , as authorized
LIBER1197PAGE092
CERTINCATE OF RECORD
CERTIFICATE OF RECORD STATE OF ARKA.15A5 )
) ss.
Stcte of Arkansas ( $$ Washin3ion Co:mty
City of Fayetteville I, Alma L. Ko!lmel, , , Circuit Clerk and EX-OfflClo Recorder for
y, Clerk and Washington County, do hereby certify that the annexed or fore.
I. Sa^anne C. Kenre i City �p
going ins vrs>s filed for record in my office on th aY
E fiicio rerorder for the City of Fayetteville, _l oblocP�M, and the same is
p} � � a
do Sl'r:hy certify that the :.r t:^` ,. 1 `'r for r.=cord tPaB�--
duly recorded in . . 19Pi
};:-7 I` 'sof t-C(:.nrd in my offic2 ;l . d t'' >9i710 aU' Witness my hand and seal this .3da'y of 1-(v
Pe �.rs i:: Ordinance G S�:,eQsol.aio_t ?goo!: MKA KOMMM
.( )/ f It Page 00 �•1-4��s5 my Circuit Clerk and
-J�--t Ex-Officio Rec ed
as ; of BY
D
4n:ri and sCttl t� ` o,,� Clerk
9ly ,d sem_ , e ty
4ciluc=10rek arde '' o Reco r
Ldgal Noticlis , ,
ORDINANCE NO. 7206 SECTION d. Notice df theJJ
AN ORDINANCE DETER- • CIity-101erk b be Micaven io of
City -i erk by publication of
MINING THE NECESSITY a days
ice at least ten ( 10)
OF THE ISSUANCE OF pays prior to the date of the
56000,000 OF CAPITAL IM- I> election In a newspaper of STATE of ARKANSAS
PROVEMENT BONDS BY general circulation withirl l as.
THE CITY OF FAYET- I i the City. Nc Other notice by J
TEVILLE , ARKANSAS ' any other public official ) County of Washington
FOR THE PURPOSE OF shall be required. The elec
PROVIDING A PORTION tion Shall otherwise be heldOF THE FINANCING and conductetl an tl the vote r` /� /�L `� C )� �
NECESSARY TO CON - cast and the results declared 1, l.l. I hereby certify that I
STRUCT AN ARTS in the manner provided for am the publisher a' THE NORTHWEST AR(Z'ANSAS TIMES, a daily newspaper
CENTER ; CALLING A municipal elections under
SPECIAL ELECTION ON implementing legislation for having a second class mailing privilege, and being not less than four pages of
THE QUESTION OF THE Amendment 62 and the elec- five columns each, published at a fixed place of business and at a fixed ( dally )
ISSUANCE OF THE tion laws of the State then in I Intervals continuous) In the Cil of Fayetteville, Count of Washington. Arkansas
BONDS; DECLARING AN effect. Only qualified eleccl y y } g
EMERGENCY; AND FOR t ,rS of the City shall have for more than a period of twelve months, circulated and distributed from an
OTHER PURPOSES. the right to vote at the elec- established lace of business to subscribers and readers generally of all classes
0E IT ORDAINED BY tido. p g y
THE BOARD OF DIREC- SECTION S. A certified In the City and County for a definite price for each copy, or a fixed price per
TORS OF THE CITY OF copy of this Ordinance shall annum, which price was fixed at what is considered the value of the publication,
F A Y E T T E V I L L E befurnished
Re nu Com mis- basedu n the news value and service value It contains, that at least fill percent
ARKA E T THAT : stoner Of Revenue of the PD fifty
SECTION 1 . The Board of State of Arkansas, the Trea- of the subscribers thereto have paid cash for their subscriptions to the newspaper
Directors hereby deter. surer of the State of Arkan Or its agents Or through recognized news dealers over a
mines that the issuance of sits, and to the Washington g g period of at least six
S4,000,000 of Capital lm- County Board of Election months: and that the said newspaper publishes an average of more than forty
prevenient Bonds pursuant commissioners so that it percent news matter.
to Amendment 62 to the may place the question on
Arkansas Constitution ii S the ballot for the election,
necessary for the purpose of provide the proper election I further certify that the legal notice hereto attached In the matter of
providing a bartion of the It- Officials and supplies, antl
nancing necessary to con- canvass me vote on the
struct an arts center esti- question.
mates To cost of 56.000.000. SECTION 6. The results of (1.1 yL (Lt� ✓. .yG It - / A] - y i �; r
said Bonds shall be secured the election, after the vote
by a pledge Of and lien upon has been canvassed by the /
20% Of the City's Share Of Washington County Board of was published In the regular daily issue of said newspaper for
revenues from the -local one Election Commissioners,
percent ( 1%) sales and use shall be proclaimed by the consecutive insertions as follows:
tax levied by Washington Mayor. The Mayor's proc-
County, Arkansas, all as lamdtion shall be publishetl r '/�1 1 /^
more specifically provided one time in a newspaper The first Insertion On the day' Of U, S , 19
and described in subsequent having general circulation
ordinances of the City pro- In the City The results as the second Insertion on the day of 19
viding for the Bonds. proclaimed by the Mayor
SECTION 2. An election is shall be conclusive unless
hereby called to be held at . attacked in the Circuit Court the third Insertion on the day of 19
the usual polling places in • of Washington County within
the City on October 7, 1986, . thirty (30) tlays after the
at which election there shall �dafe Of Publication of the and the fourth insertion on theay�f 19
be submitted to the electors .prpGla mafiro.,; l . ,
of the CIfY the question of is- SECTION 7;.`tie- >fOreHidl
suing $4,000,000 of Capital sales and usc'4ar. shall be r
Improvement Bonds by the levied and collected at least
City Of Fayetteville, Arkan bonds until the Boauthoriz¢tl by
sas, for the purpose Of pro- I .this ordinance shall have Sworn t0 and subscribed before me n this day Of
vitling a portion of the ti- been retired in full, not- 1
nancing necessary to con- withstanding the repeal of I �C� 9 lid_ /• / .
struct an arts necessary
to csaidon- such tax by Washington "
deter-
Bonds to be secured by a County, Arkansas. �,,f�
pledge of 20% Of the City's SECTION B. The Board of l ' I ` ,` t aJ� I I rt
snare of revenues from the Directors hereby local one percent ( 1%) sales minds that the City Of I Notary ?L bllCr .-
and use tax levied by Wash- Fayetteville is in dire need '•1 , t
ington County. Arkansas, l!
SECTION 0. The Question of additional cultural. rec- tr ••,
reational and entertainment f ;yty Commission Expires: - /
shall be placed On the ballot I 1
for election in substantially facilities : that an ap- I l
the elecwin9 n su propriate way to provide t- / __
such funds it by the issuance —� --+--� f 1 1 N .
There is Submitted t0 ih! Of DOntls pdydbl! Tram the 1
qualified electors oft C itY to xis and revinuesl //I1
at Fayetteville. ass in prev ,0usly described. ds , r + rl
the question a isl in authorized by the COO]ti Tu.
Syser a of Capital lm eohm arta laws of Th Dtdis
orovement Bonds. or such !; ai ons la and that ate I Fees for Prim inR
lesser amount as snml be
determined to be issued by ordinance shall be giver
'he Board of Directors of the immediate effect so that the Cosi of Proof _. $
City for the purpose of pro proposed an arts center may
viding a portion of The fi- be constructed as soon as
nancing necessary to con. possible. Therefore, an Total
struct an arts center esti- emergency is hereby
mated tocosl 56,000,000, said , declared to exist and this
Bends to be secured by a I Ordinance being necessary
4QQledge of 20% of the City's for the immediate preserve
Fiore of revenues from The i tion Of the public health,
local one percent ( 1%) sales safety, and welfare shall be
and use tax levied by WaSh; l in full force and effect from
ington County, Arkansas, and after its passage and
such taxes to be pledged to approval.
pay the principal Of, interest PASSED AND APPROV
on, and fees and expenses in ED This 28th day of August„
connection with said Bonds. 1986.
Vote on the question by plat APPROVED:
ing an "X" in one of the fol- Paul R. Noland
lowing squares. either for or , Mayor
against :
For capital improvement ArTEST:
bond issue in the amount Suzanne C. Kennedy
of S4,000.000._................- ' City Clerk
Against Capital improve- (SEAL)
ment *and issue in the
amount Of 54.000.000........
107711 INVOICE . I I� j 2
FOR CLASSIFIED PAYKSS J y
ADVERTISING ABLE TO
CLASS
2 CODE
C 0 AMOUNT
/Ls , NORTHWEST
IF NOT ARKANSAS TIMES
PAID BY AMOUNT DUE
- WILL BE P.O. DRAWER D
212 N. EAST AVE.
A
v� FAYETTEVILLE. AR 72701
t 9 t{� c6HE5 ZONE 102- 107711 09/04 /86
EDIT ONS
A OP S'Yi
5 SKIP SCHEDULE
AD GIVEN BY �Snt
�V1iooO-0000 Dr y of Fayetteville
Draluer F
�or8r7�ir � ,l
:fes ayettevY
(��JTile + . :y
�86 ST0�� 5l86a�
72702.
L
;PE T!1RN THIS Pr)RT:ON WITH PAYMFNT
—C
by the Constitution and laws of the State of Arkansas ; and that
this ordinance shall be given immediate effect so that the
proposed arts center may be constructed 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 AND APPROVED this 28th day of August 1986 .
APPROVED :
.a�. • ayo r
AT't$SFP` Yf �r k
Ott
i S ' Ci y � Cler
t
LIBER119� PAGE 093