HomeMy WebLinkAbout28-78 RESOLUTIONRESOLUTION NO. "7R
A RESOLUTION EXPRESSING THE INTENTIONS OF THE FAYETTEVILLE
BOARD OF DIRECTORS IN THE EVENT A LOCAL SALES TAX BECOMES EFFECTIVE
IN THE CITY.
WHEREAS, the Board of Directors has submitted to the electors
of the City the question of levying a local sale and use tax; and
WHEREAS, the Board of Directors deems it desirable to express its
intentions regarding other taxes and regarding use of sales tax
proceeds in the event said tax is approved by the electors of
the City.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE CITY OF FAYETTEVILLE, ARKANSAS that in the event a local sales
and use tax becomes effective in the City of Fayetteville, the
Board of Directors hereby expresses its intention to:
(1) Immediately repeal the existing occupation
tax.
license
(2) Immediately decrease by 1% the franchise tax collected
from residential and commercial customers of Arkansas Western
Gas Company, Southwestern Power and Electric Company, and
Ozarks Electric Cooperative Coorporation and decrease by 1%
the franchise tax collected from Cable Television subscribers
of the Warner-TVC Corporation;
(3) Suspend collection of the two mill special tax levied
on real and personal property in order to pay the principal
of and interest on City of Fayetteville General Obligation
Improvement Bonds in the principal amount of $800,000 issued for
the purpose of financing the cost of constructing an expansion
to the library and improvements to the City's parks;
(4).(a) To commit the first available funds from the proceeds
of a local sales tax to provide financial assistance to the
Fayetteville City Hospital as previously approved by the
Fayetteville Board of Directors and to complete the aforesaid
library expansion and parks improvement programs previously
approved by the electors of the City.
(b) If excess sales tax proceeds are available, to use said
proceeds for street reconstruction and major street needs;
(c) After major street needs are provided for
o£ an ongoing street program, to use sales tax
park system improvements and for public safety
-and police protection.
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PASSED AND APPROVED THIS ig DAY OF APRIL 1978.
APPROVED:
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