HomeMy WebLinkAbout34-93 RESOLUTIONIMP
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RESOLUTION NO. 34-93
A RESOLUTION EXPRESSING THE CITY'S INTENT AS TO
THE USE OF COLLECTIONS OF A PROPOSED CITY WIDE
SALES TAX AND USE TAX.
WHEREAS, the City Council of the City of Fayetteville, Arkansas (the "City") has
passed on March 23, 1993, Ordinance No. 3 6 8 8 providing for the levy of a 1% sales and use
tax within the City (the "Tax") if approved by the voters, and
WHEREAS, the Tax will be levied under Title 26, Chapter 75, subchapter 2 of the
Arkansas Code of 1987 Annotated and may be used by the City for any purpose for which the
City's general funds may be used, and;
WHEREAS, the City updates yearly a five (5) year plan of capital improvements which
are subject to mput from citizens at public hearings and voted upon by the Fayetteville City
Council which lists the specific capital improvement goals of the City and prioritizes the need
for such capital improvements and;
WHEREAS, the purpose of this resolution is to clanfy for the voters some of the
purposes for which the City Council expects to finance and/or maintain with tax collections.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF FAYETTEVILLE, ARKANSAS:
Se non_l. The City hereby expresses their intent to utilize 75% of Tax collections in
each calendar year for the financing of capital improvements set forth in the City's five (5) year
capital improvement program. It is the City's further intent that these funds be accounted for
separately and used only for capital improvement projects.
Section 2. The City hereby further expresses their mtent to utilize the remaining 25%
of tax collections in each calendar year for City operations and maintenance and, should such
collections exceed any need for such purpose, the remaining amounts may be used for financing
capital improvements.
Section 3. The following is a list of some of the capital improvements, included in
the City's current five (5) year capital improvement program, for which the tax collections are
expected by the City Council to be expended. This list is not in any order of priority and is not
set forth as an exclusive list for which tax collections may be expended.
A. Acquisition of lands and nghts of way for, and for engineering or
constructing of:
• Streets, including sidewalks and gutters;
• Drainage control facilities, including bridges,
culverts, curb inlets and ditches;
• Sewer lines and sewer lift stations;
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Resolution No. 34-93
• Water lines, water storage tanks and pump stations;
• Traffic signals and intersection improvements;
• Wig, jogemg, or biking trails;
• Solid waste facilities and equipment;
• Sewer treatment plant facilities and odor control
facilities.
B. Acquisition or enhancements to:
• Parks;
• Ballfields;
• Library facilities;
• City facilities;
• Information processing equipment and related
software;
• Public safety improvements mcluding, police and
fire facilities and equipment.
aTl ctipn 4. It is the City's intent to finance these capital improvements on a pay-as-
you-go basis without the necessity of a bond issue. If for any reason flus City Council or future
City Councils believe a bond issue is necessary, all or a portion of tax collections may be
pledged and used by the City for the payment of any capital improvement bonds issued by the
City under Amendment No. 62 to the Arkansas Constitution if the bonds and the pledge of the
Tax collections to such bonds are approved by the voters of the City ata general or special
election
PASSED AND APPROVED this 23rd day of March , 1993.
ATTEST.
By;
Seim
She L Thomas, City Clerk
APPROVED:
By:
dem
Hanna, Mayor