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Home My WebLink About256-13 RESOLUTIONRESOLUTION NO.256-13 A RESOLUTION APPROVING A BUDGET ADJUSTMENT IN THE AMOUNT OF $14,000.00 TO PROVIDE FUNDING FOR PAYMENT OF COSTS RELATED TO THE A&P BOND SPECIAL ELECTION BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1: That the City Council of the City of Fayetteville, Arkansas hereby approves a budget adjustment, a copy of which is attached as Exhibit "A", in the amount of $14,000.00 to provide funding for payment of costs related to the A&P bond special election. PASSED and APPROVED this 17th day of December, 2013. APPROVED: I: ATTEST: By: SONDRA E. SMITH, City Clerk/Treasurer ``0111111Pl/ttl T RF��i'�� So "GSA Y of FAYETTEVILLE•� r � '.,�sy. kANs� �l �1•• Toff ` 1 o 14lliltO O t`a• City of Fayetteville, Arkansas Budget Adjustment Form Budget Year Division: City Clerk/Treasurer Request Date 2013 1 Department: Mayors Administration 11 /26/2013 BUDGET ADJUSTMENT DESCRIPTION / JUSTIFICATION A&P Tax Special Election ion Head Date Budget irector Oe" '<'- J,�— Department Director ate tL1a( 1l3 Date j 1 ^- Z'7Y1D13 Financ irector Date Chiefbf Sto _ Mao Date ate V12.0724 Adjustment Number EXHIBIT -A Prepared By: Lisa Branson #NAME? Reference: Budget & Research Use Only Type: A B C D E P General Ledger Date Posted to General Ledger Initial Date Checked / Verified y Initial Date TOTAL BUDGET ADJUSTMENT 14,000 14,0_00 Increase I (Decrease) Project.Sub Account Name Account Number _ Expense Revenue Number Use of fund balance 1010.0001.4999.99 14,000 Election cost 1010.1610.5318.00 14,000 l(AAccts-Purchasing\Budget Adjustment\20130ty Cledc1112613 Special Election A&P 1 Of 1 City of Fayetteville Item Review Form Sondra E. Smith Submitted By 2013-0202 Legistar File Number December 17, 2013 City Council Meeting Date - Agenda Item Only NIA for Non Agenda Item Action Required: City Clerk Department Approve a Budget Adjustment in the amount of $14,000 to pay for the A&P Tax Special Election. Does this item have a cost? $14,000.00 Cost of this request 1010-001-4999.99 Account Number Project Number Budgeted Item? No Previous Ordinance or Resolution # Original Contract Number: Comme : ) C�-. h Program Category / Project Name Category / Project Budget to Date Icluding any Attached BA 4 Funds Used to Date Before this Program / Project Category Name Request Remaining Budget after this Fund Name Request Budget Adjustment Attached? Yes 5605 n--_JrP N/A �� aye ev ;le CITY COUNCIL AGENDA MEMO To: Mayor Lioneld Jordan and City Council From: Sondra Smith, City Clerk Treasurer ,-___' Date: November 26, 2013 Subject: A&P Tax Special Election Cost PROPOSAL: Office of the City Clerk Treasurer Sondra E. Smith, City Clerk Treasurer Lisa Branson, Deputy City Clerk Phone: (479) 575-8323 Fax: (479) 718-7695 city__clerk@ci.fayetteville.ar.us The City Clerk budget pays for any general, special, and run-off elections. At the time the 2013 budget was completed there were no special or general elections planned for the calendar year. The City Council approved Ordinance Number 5605 on August 6, 2013 setting a date for a Special Election for a hotel and restaurant gross receipts tax and tourism revenue capital improvement bonds for the purpose of financing certain costs in connection with the renovation and expansion of Walton Arts Center and for the purpose of financing certain costs in connection with a proposed Regional Park. Elections vary in cost therefore the cost for this Special Election was not included in the ordinance. It is necessary to bring forth a budget adjustment ordinance to pay for the A&P Tax Special Election. The budget adjustment was discussed at the August 6, 2013 City Council meeting. The total cost of the Special Election is $24,191.55. The City Clerk has some funds available to pay for part of the Special Election cost. I am requesting a budget adjustment in the amount of $14,000.00 to cover the remaining election cost. RECOMMENDATION: The City Clerk recommends the approval of a Budget Adjustment to pay for the A&P Tax Special Election. BUDGET IMPACT: $14,000.00 Telecommunications Device for the Deaf TDDfTTY (479) 521-1316 113 West Mountain — Fayetteville, AR 72701 RESOLUTION NO. A RESOLUTION APPROVING A BUDGET ADJUSTMENT IN THE AMOUNT OF $14,000.00 TO PROVIDE FUNDING FOR PAYMENT OF COSTS RELATED TO THE A&P BOND SPECIAL ELECTION BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1: That the City Council of the City of Fayetteville, Arkansas hereby approves a budget adjustment, a copy of which is attached as Exhibit "A", in the amount of $14,000.00 to provide funding for payment of costs related to the A&P bond special election. PASSED and APPROVED this I Th day of December, 2013. APPROVED: ATTEST: By: By: LIONELD JORDAN, Mayor SONDRA E. SMITH, City Clerk/Treasurer RECEIVED Nov 262013 CITY OF FAYETTEVILLE CITY CLERK'S OFFICE WASHINGTON COUNTY ELECTION COMMISSION County Courthouse, Suite 140 280 North College Ave. Fayetteville, AR 72701 November 25, 2013 City Clerk Sondra Smith City of Fayetteville 113 W. Mountain St, Ste #308 Fayetteville, AR 72701 Dear Clerk Smith: The Washington County Election Commission is authorized to request reimbursement for the expenses of special elections based as outlined in Arkansas Election Law 7-5-104. Following is the cost to the Election Commission for the November 12, 2013 Special Election for the City of Fayetteville. Ballot Stock and printing $1663.93 Programming $800.00 Audio $226.00 Advertisements Poll Workers and Su ervisor Mileage $3938.60 $11,831.09 Pre -election Su ties $250 Staff and Staff Milea a 233.20 $3,135.20 Countin Crew Election Ni ht $384 Truck Rental $462.73 Eiect16 tommissionlGleetin s $1500.00 Total 1$24,191.55 Please send a check for the amount of $24,191.55 to us at the above address. Call me with any questions on this subject. Best regards, .Iennifer B. Price Election Coordinator 479-444-1766 jprice@co.washington.ar.us 24191.55 Election Cost Election Cost Calculation $ 1,663.93 Ballots $ 800.00 Programming and ESS support $ 226.00 Audio $ 3,938.60 Advertisements $ 11,831.09 Poll workers and supervisor mileage $ 250.00 Absentee ballot canvassers $ 3,135.20 Election night workers $ 384.00 Trucks and mileage $ 462.73 Pre -election supplies $ 1,500.00 Staff Election Commission meetings $ 24,191.55 Total Cost Number voting in Fayetteville Total ballots cast Fayetteville's percent 24,191.55 Total election cost Only 50% of the Total Election Cost is to be divided between the cities 0.00 50% of the Total Election Cost Fayetteville's percent City of Fayetteville's General Election Cost Special Election cost is paid by the city in full. City Council Meeting August 6, 2013 Page 9 of 13 Peter Nierengarten: We can work with the Parking Division and see if we can come up with something a little clearer. Alderman Adams: Can a bicycle charge at an electric car charging station? Peter Nierengarten: The plug is 220 volts and it is only available on electric cars. Electric bicycles use a 110 receptacle. Alderman Gray moved to suspend the rules and go to the second reading. Alderman Marsh seconded the motion. Upon roll call the motion passed unanimously. Accictar,t r'ity Attnrnev Ja.cnn Kellev rend the ordinance. tding. -ssive Irking assed ection ;1 and City's not to ,apital vation iurant )se of financing certain costs in connection witn a proposea tcegionai ram; pieaging the proceeus from the existing one percent (1.00%) Hotel, Motel and Restaurant Gross Receipts Tax originally levied by Ordinance No. 2310 to the payment of the Refunding Bonds and Capital Improvement Bonds; prescribing other matters pertaining thereto; and declaring an emergency. Assistant City Attorney Jason Kelley read the ordinance. 113 West Mountain Fayetteville, AR 72701 (479) 575-8323 accessfayetteville.org Telecommunications Device for the Deaf TDD/TTY (479) 521-1316 City Council Meeting August 6, 2013 Page 10 of 13 Paul Becker, Finance Director gave a brief description of the proposed election. Aubrey Shepherd: Mr. Shepherd voiced his opinion about the ordinance. Greg Harton, NWA Media: In the ordinance when it refers to the Regional Park, does that refer only to the sight at Cato Springs and I-540? Could you detail the use of the $3.5 million in spending that would take place if the bonds are approved and how that will�be divided among the different uses at the park? Connie Edmonston, Director of Parks and Recreation: help add three baseball fields and accommodate all the parki A discussion followed about the use of the money for Terri Trotter, Walton Arts Center: We ar you are considering sending this bond issue add about 30,000 square feet of additional activity happening on Dickson Street to Aacl allow us to host more events and bring more;,; Mayor Jordan: Mayor Jordan: Terri Trotter: renovation abp° would upcoming years. sought this forward and that e have a conceptual plan to 1 is to connect WAC to the vents. We believe this will is to refurbish some of the equipment. .gh a major renovation ever. There was a surface level the carpeting, seats in the theatre and wall coverings. about the use of the money for the Walton Arts Center for the upcoming Steve O h rk, Chamber of Commerce President: I would like to compliment Mayor Jordan and members..zofthe council and to thank you. This ordinance that is being considered is best described as an economic development infrastructure ordinance. It is an infrastructure that would be developed as parks, arts, playgrounds and people and is an infrastructure that will flourish and thrive. You have empowered everybody in the City of Fayetteville who is of voting age to decide how they want to play a part in this. 113 West Mountain Fayetteville, AR 72701 (479) 575-8323 accessfayetteviIle. org Telecommunications Device for the Deaf TDDITTY (479) 521-1316 City Council Meeting August 6, 2013 Page 11 of 13 Alderman Long: How did we come up with $6.9 million for the Walton Arts Center expansion and $3.5 million for the Regional Park? How did we determine those numbers specifically? Marilyn Heifner, Executive Director for the A&P Commission: The WAC came to the A&P Commission and asked for $6.9 million to expand the center and as we looked at a twenty five (25) year issue of new bonds there was fortunately $3.5 million left over after we paid off the bonds that we had. Ms. Heifner continued to speak about why the Regional Park would be an Alderman Tennant: I would like to thank Marilyn for her work on this. Alderman Marsh: Does this lock us into a sports megaplex Regional, Park or dope 'it leave room to include Kessler Mountain into this plan? Jason Kelley, Assistant City Attorney: It says it is financing a portion of the cost of constructing and equipping a Regional Park owned and located wzthin' tihe City of Fayetteville which may include baseball fields, soccer fields and related facilities. Alderman Gray: I like the term economic ordinance as. It is time that we take care of and that is what I see this Alderman Long: I would like us to eom ider king h s, a more equitable split between the IKE two. I think it would be a good CQM))'romise and help u11 s to accomplish more at the Regional Park. j 1 Alderman Tennant: Everyonefneeds�to keep in mind that passing this in its entirety, doesn't % pay for all of the Regio''nal Park and `certainly doesn't pay for all the Walton Arts Center expansion. The WAC is moving foi yard, with fundraising efforts and I am hoping that the Regional Park canalso benefit from fundraising. Paul Becker gaue,,a brief,statement declaring that these are preliminary numbers at this point and time Jason Kelley Kit Williams requested at Agenda Session along with Gordon, our bond counsel th4f1hey would be present on August 20, 2013 to be able to address specific legal issues. Our bond counsel is no here tonight, so I would request that we do not complete this tonight. Mayor Jordan: What is your opinion? Dennis Hunt, Stephens Inc: Mr. Wilbourn, Mr. Williams, Mr. Becker and I have thoroughly reviewed the ordinance. If you want to delay that is fine, but everybody has had an opportunity to review and comment. The author of the ordinance received our comments and made the modifications. 113 West Mountain Fayetteville, AR 72701 (479) 575-8323 accessfayetteviIle. org Telecommunications Device for the Deaf TDD/TTY (479) 521-1316 City Council Meeting August 6, 2013 Page 12 of 13 Alderman Schoppmeyer moved to suspend the rules and go to the second reading. Alderman Adams seconded the motion. Upon roll call the motion passed unanimously. Assistant City Attorney Jason Kelley read the ordinance. Alderman Tennant moved to suspend the rules and go to the third and final reading. Alderman Gray seconded the motion. Upon roll call the motion passed 7-1. Alderman Long voting no. Assistant City Attorney Jason Kelley read the ordinance. Mayor Jordan: I have been on this council since 2001 and we hav Park since then. We have talked about renovating the Walton expansions and we know that this park will help the youth of this c: investment, it should be in children. It will help drive the economic need this. Mayor Jordan unanimously. the ordinance Alderman Adams moved to approve an the motion. Upon roll call the motion pia: Ordinance 5605 as recorded in 2012 Audit Man, Budget Reserves August talked about kits Center ariy kind of city and we ordinance passed N,.j.,OAAlderman Tennant seconded an Long voting no. ony C. Uth, Jr., Audit Committee Chair Finance Director RZN 13-4410 (2468 N. Crossover Rd./Lynnwood Estates AldermanGray*' We have some openings on the Boards and Commissions of the city and we would like for you to go to our website and look at the openings. Don Marr: This Thursday, August 8, 2013 at 5:30 p.m. to 7:00 p.m., there will be an open house for our Eastgate Master Planning at Happy Hollow Elementary. Gulley Park will be having their final concert for this season and the group is Uncrowned Kings. It will begin at 7:00 p.m. on August 8, 2013. 113 West Mountain Fayetteville, AR 72701 (479) 575-8323 accessfayetteviIle. org Telecommunications Device for the Deaf TDD/TTY (479) 521-1316 IIIIIII IIIIII III Illll IIIII IIIII IIIII IIIII IIIII IIIII III I IIIII IIIII IIIII IIII IIII Doc ID: 015343970007 Type: REL Kind: ORDINANCE Recorded: 08/14/2013 at 10:56:54 AM Fee Amt: $45.00 Page i of 7 Washington County, AR Kyle Sylvester Circuit Clerk File2013`00027823 i� ORDINANCE NO.5605 __4CoI. AN ORDINANCE CALLING AND SETTING A DATE FOR A SP%ok ELECTION ON THE QUESTIONS OF THE ISSUANCE BY THE CIT)e Fki) NOT TO EXCEED $1,500,000 OF HOTEL AND RESTAURANT �S RECEIPTS TAX REFUNDING BONDS FOR THE PURPO"F REFUNDING THE CITY'S OUTSTANDING HOTEL AND RESTAURANT GROSS RECEIPTS TAX REFUNDING BONDS, SERIES 2003, (2) NOT TO EXCEED $6,900,000 OF HOTEL AND RESTAURANT GROSS RECEIPTS TAX AND TOURISM REVENUE CAPITAL IMPROVEMENT BONDS FOR THE PURPOSE OF FINANCING CERTAIN COSTS IN CONNECTION WITH THE RENOVATION AND EXPANSION OF WALTON ARTS CENTER, AND (3) NOT TO EXCEED $3,500,000 OF HOTEL AND RESTAURANT GROSS RECEIPTS TAX AND TOURISM REVENUE CAPITAL IMPROVEMENT BONDS FOR THE PURPOSE OF FINANCING CERTAIN COSTS IN CONNECTION WITH A PROPOSED REGIONAL PARK; PLEDGING THE PROCEEDS FROM THE EXISTING ONE PERCENT (1.00%) HOTEL, MOTEL AND RESTAURANT GROSS RECEIPTS TAX ORIGINALLY LEVIED BY ORDINANCE NO. 2310 TO THE PAYMENT OF THE REFUNDING BONDS AND CAPITAL IMPROVEMENT BONDS; PRESCRIBING OTHER MATTERS PERTAINING THERETO; AND DECLARING AN EMERGENCY WHEREAS, under the authority of Title 26, Chapter 75, Subchapter. 6 of the Arkansas Code of 1987 Annotated (the "Advertising and Promotion Commission Act") and pursuant to Ordinance No. 2310 adopted on March 1, 1977, and as subsequently amended (the "Levying Ordinance"), the City has previously levied a one percent (1.00%) tax (the "A&P Tax") upon the gross receipts or gross proceeds (i) derived from renting, leasing or otherwise furnishing hotel or motel accommodations for profit within the boundaries of the City and (ii) of restaurants, cafes, cafeterias, delis, drive-in restaurants, carry -out restaurants, concession stands, convenience stores, grocery store -restaurants, caterers and similar businesses within the boundaries of the City engaged in the business of selling prepared food for on -premises or off -premises consumption; and 12 Page 2 Ordinance No. 5605 WHEREAS, under the authority of the Advertising and Promotion Commission Act and pursuant to the provisions of Ordinance No. 4488 adopted on May 20, 2003, the City has previously issued and there are presently outstanding $1,875,000 in aggregate principal amount of the City's Hotel and Restaurant Gross Receipts Tax Refunding Bonds, Series 2003 (the "Series 2003 Bonds"), which Series 2003 Bonds are secured by the pledge of and lien upon the City's receipts of the A&P Tax; and WHEREAS, the City's Advertising and Promotion Commission (the "Commission") by resolution adopted on May 13, 2013, has recommended that the City assist in (i) the completion of the proposed Walton Arts Center expansion and renovation (the "Walton Arts Center Improvements") and (ii) the acquisition, construction and equipping of a regional park (the "Park Improvements") through the issuance of its capital improvement bonds; and WHEREAS, the Commission has determined and the City Council concurs that the Walton Arts Center is a cultural arts and entertainment facility and its expansion and renovation will constitute a "tourism project" within the meaning of Arkansas Code Annotated (1998 Repl.) §14-170-205 which will secure and develop tourism and thereby stimulate and enhance the economic growth and well-being of the City and its people; and WHEREAS, the Commission has further determined and the City Council concurs that the City's proposed regional park will constitute a "public recreation facility" and "city park" within the meaning of Arkansas Code Annotated (2008 Repl.) § 26-75-606 and a "tourism project" within the meaning of Arkansas Code Annotated (1998 Repl.) § 14-170-205 which will secure and develop tourism and thereby stimulate and enhance the economic growth and well- being of the City and its people; and WHEREAS, the City Council has determined that there is a critical need for a source of revenue to finance the Walton Arts Center Improvements and the Park Improvements, and that the receipts of the A&P Tax could be so utilized, but only upon refunding or redemption of the Series 2003 Bonds; and WHEREAS, if approved by the electors of the City, the City has determined to issue (1) its refunding bonds in a principal amount not to exceed $1,500,000 (the "Refunding Bonds") for the purpose of refunding the Series 2003 Bonds, (2) its capital improvement bonds in principal amount not to exceed $6,900,000 (the "Walton Arts Center Bonds') for the purpose of financing a portion of the Walton Arts Center Improvements, and (3) its capital improvement revenue bonds in a principal amount not to exceed $3,500,000 (the "Park Bonds") for the purpose of financing a portion of the Park Improvements, which Refunding Bonds, Walton Arts Center Page 3 Ordinance No. 5605 Bonds and Park Bonds are to be equally and ratably secured by a pledge of and lien upon the receipts of the A&P Tax; and WHEREAS, the purpose of this Ordinance is to call a special election on the issuance by the City of the Refunding Bonds, the Walton Arts Center Bonds and the Park Bonds; NOW, THEREFORE, BE IT ORDAINED by the City Council of the City of Fayetteville, Arkansas: Section 1: That under the authority of the Constitution and laws of the State of Arkansas, including particularly the Advertising and Promotion Commission Act and Title 14, Chapter 170, Subchapter 2 of the Arkansas Code of 1987 Annotated (the "Tourism Revenue Bond Act"), and subject to approval by the electors of the City as provided in Section 2 below, there is hereby authorized the issuance of (1) the City's Hotel and Restaurant Gross Receipts Tax Refunding Bonds in the aggregate principal amount of not to exceed $1,500,000 (the "Refunding Bonds") for the purpose of refunding the Series 2003 Bonds, (2) the City's Hotel and Restaurant Gross Receipts Tax and Tourism Revenue Capital Improvement Bonds in the aggregate principal amount of not to exceed $6,900,000 (the "Walton Arts Center Bonds") for the purpose of financing a portion of the Walton Arts Center Improvements, and (3) the City's Hotel and Restaurant Gross Receipts Tax and Tourism Revenue Capital Improvement Bonds in the aggregate principal amount of not to exceed $3,500,000 (the "Park Bonds") for the purpose of financing a portion of the Park Improvements. Any bonds approved by the electors of the City may thereafter be issued in one or more series from time to time in an aggregate principal amount not to exceed the respective principal amount(s) approved by the City's electors. Such bonds as are issued by the City will be secured on a parity basis by a pledge of and a lien upon the receipts of the A&P Tax. Section 2: That there be, and there is hereby called, a special election to be held on Tuesday, November 12, 2013, at which election there shall be submitted to the electors of the City the questions of the issuance of the Refunding Bonds, the Walton Arts Center Bonds and the Park Bonds. Section 3: That the questions shall be placed on the ballot for the special election in substantially the following forms: Question One: There is submitted to the qualified electors of the City of Fayetteville, Arkansas, the question of the issuance of refunding bonds in a principal amount not to exceed $1,500,000 (the "Refunding Bonds"), pursuant to Title 26, Chapter 75, Subchapter 6 of the Arkansas Code of 1987 Annotated (the "Advertising and Promotion Commission Act"), for the purpose of refunding the City's outstanding Page 4 Ordinance No. 5605 Hotel and Restaurant Gross Receipts Tax Refunding Bonds, Series 2003 (the "Series 2003 Bonds"). If the issuance of the Refunding Bonds is approved, the Refunding Bonds shall be secured by a pledge of and lien upon the receipts of an existing one percent (1.00%) tax (the "A&P Tax") levied pursuant to Ordinance No. 2310 upon the gross receipts or gross proceeds (i) derived from renting, leasing or otherwise furnishing hotel or motel accommodations for profit within the boundaries of the City and (ii) of restaurants, cafes, cafeterias, delis, drive-in restaurants, carry -out restaurants, concession stands, convenience stores, grocery store -restaurants, caterers and similar businesses within the boundaries of the City engaged in the business of selling prepared food for on -premises or off -premises consumption. Vote on the question by placing an "X" in one of the squares following the question, either for or against: FOR the issuance of Refunding Bonds in a principal amount not to exceed $1,500,000................................................................................... ❑ AGAINST the issuance of Refunding Bonds in a principal amount not to exceed $1,500,000................................................................................... ❑ Question Two: There is submitted to the qualified electors of the City of Fayetteville, Arkansas, the question of the issuance of capital improvement bonds in a principal amount not to exceed $6,900,000 (the "Walton Arts Center Bonds"), pursuant to Title 14, Chapter 170, Subchapter 2 of the Arkansas Code of 1987 Annotated (the "Tourism Revenue Bond Act") and Title 26, Chapter 75, Subchapter 6 of the Arkansas Code of 1987 Annotated (the "Advertising and Promotion Commission Act"), for the purpose of financing a portion of the costs of the expansion and renovation of the Walton Arts Center located within Fayetteville, (the "Walton Arts Center Improvements"). If the issuance of the Walton Arts Center Bonds is approved, the Walton Arts Center Bonds shall be secured by a pledge of and lien upon the receipts of an existing one percent (1.00%) tax (the "A&P Tax") levied pursuant to Ordinance No. 2310 upon the gross receipts or gross proceeds (i) derived from renting, leasing or otherwise furnishing hotel or motel accommodations for profit within the boundaries of the City and (ii) of restaurants, cafes, cafeterias, delis, drive-in restaurants, carry -out restaurants, concession stands, convenience stores, grocery store -restaurants, caterers and similar businesses within the boundaries of the City engaged in the business of selling prepared food for on -premises or off -premises consumption. Page 5 Ordinance No.5605 Vote on the question by placing an "X" in one of the squares following the question, either for or against: FOR the issuance of Walton Arts Center Bonds in a principal amount not to exceed $6,900,000 for the purpose of financing a portion of the costs of the Walton Arts Center Improvements ............................ 4 ............................. ❑ AGAINST the issuance of Walton Arts Center Bonds in a principal amount not to exceed $6,900,000 for the purpose of financing a portion of the costs of the Walton Arts Center Improvements....................................................... ❑ Question Three: There is submitted to the qualified electors of the City of Fayetteville, Arkansas, the question of the issuance of capital improvement bonds in principal amount not to exceed $3,500,000 (the "Park Bonds"), pursuant to Title 14, Chapter 170, Subchapter 2 of the Arkansas Code of 1987 Annotated (the "Tourism Revenue Bond Act") and Title 26, Chapter 75, Subchapter 6 of the Arkansas Code of 1987 Annotated (the "Advertising and Promotion Commission Act"), for the purpose of financing a portion of the costs of constructing and equipping a regional park owned by and located within the City of Fayetteville, which may include baseball fields, soccer fields and related facilities (the "Park Project"). If the issuance of the Park Bonds is approved, the Park Bonds shall be secured by a pledge of and lien upon the receipts of an existing one percent (1.00%) tax (the "A&P Tax") levied pursuant to Ordinance No. 2310 upon the gross receipts or gross proceeds (i) derived from renting, leasing or otherwise furnishing hotel or motel accommodations for profit within the boundaries of the City and (ii) of restaurants, cafes, cafeterias, delis, drive-in restaurants, carry -out restaurants, concession stands, convenience stores, grocery store -restaurants, caterers and similar businesses within the boundaries of the City engaged in the business of selling prepared food for on -premises or off -premises consumption. Vote on the question by placing an "X" in one of the squares following the question, either for or against: Page 6 Ordinance No. 5605 FOR the issuance of Park Bonds in a principal amount not to exceed $3,500,000 for the purpose of financing a portion of the costs of constructing and equipping the Park Improvements...................................................................... ❑ AGAINST the issuance of Park Bonds in a principal amount not to exceed $3,500,000 for the purpose of financing a portion of the costs of constructing and equipping the Park Improvements.......................................................... ❑ Section 4: That the election shall be held and conducted and the vote canvassed and the results declared under the law and in the manner now provided for Arkansas municipal elections unless otherwise provided in the Advertising and Promotion Commissions Act or the Tourism Revenue Bond Act, and only qualified voters of the City shall have the right to vote at the election. The City Clerk is hereby directed to give notice of the special election by one advertisement in a newspaper of general circulation within the City, the publication to be not less than ten (10) days prior to the date of the election. Section 5: That the results of the special election shall be proclaimed by the Mayor, and his proclamation shall be published one time in a newspaper of general circulation within the City. The proclamation shall advise that the results as proclaimed 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 6: That the Mayor and the City Clerk, for and on behalf of the City, be, and they hereby are authorized and directed to do any and all things necessary to call and hold the special election as herein provided and, if the issuance of the Refunding Bonds, the Walton Arts Center Bonds and/or the Park Bonds are approved by the electors, to perform all acts of whatever nature necessary to carry out the authority conferred by this Ordinance. Section 7: That all ordinances and parts thereof in conflict herewith are hereby repealed to the extent of such conflict. Section 8: That it is hereby ascertained and declared that there is a critical need to obtain an additional source of revenue to finance needed capital improvements, including the Walton Arts Center Project and the Park Project, all in order to promote and protect the peace, health, safety and welfare of the inhabitants of the City. It is, therefore, declared that an emergency exists and this Ordinance being necessary for the immediate preservation of public peace, health and safety shall be in force and effect immediately from and after its passage. PASSED AND APPROVED this 6th day of August, 2013. APPROVED: ATTEST: Page 7 Ordinance No. 5605 By: By:��- O ELD AN, Ma or SONDRA E. SMITH, City Clerk/Treajhfer �.•CITY0sG.. �. . FA YETTEVILLE��= Washington County, AR 1 certify this instrument was filed on 08/14/2013 10:56:54 AM and recorded in Real Estate File Number 2013-00027823 Kyle Sylvester- Cir uit Clerk by City of Fayetteville Staff Review Form City Council Agenda Items and Contracts, Leases or Agreements August 6,1023 City Council Meeting Date Agenda Items Only Paul A Becker Finance and Internal Services Finance and Internal Services Submitted By Division Department Action N/A $ - Cost of this request Category / Project Budget Program Category / Project Name Account Number Funds Used to Date Program / Project Category Name Project Number Remaining Balance Fund Name Budgeted Item Budget Adjustment Attached Depart Director Date City Attorney Date Finance and Internal Services Director Date -1-/ Date dY LIJ Date Comments: Previous Ordinance or Resolution # Original Contract Date: Original Contract Number: Received in City 07-24-1 3 P 02: 03 Clerk's Office Received in Mayor's Office Revised January 15, 2009 • Zayj�.:Vle �, KANSAS� CITY COUNCIL AGENDA MEMO To: Mayor Lioneld Jordan and City Council Thru: Don Marr,Chief of Staff From: Paul A Becker ?A Date: July 30, 2013 Subject: Ordinance To Call a Special Election for HMR Bonds THE CITY OF FAYETTEVILLE, ARKANSAS DEPARTMENT CORRESPONDENCE PROPOSAL: In May, 2013 the Advertising and Promotion Commission passed a resolution requesting the City call a special election to consider an extension of the current HMR Bonds. The payment of bonds would be extended for 25 years at the same total principal and interest payment amount as currently made annually. Therefore, the current amounts paid for debt service would remain the same. To accomplish this, the voters would be asked to approve three questions on the ballot. Question one would request approximately $1,500,000 in new bonds to refund the current outstanding bonds. Question two would request $6,900,000 in new bonds to fund a portion of an expansion to the Walton Arts Center. The final request would be to approve $3,500,000 of new bonds to fund certain improvements to the Regional Park. Specifically, baseball fields, soccer fields and related facilities at the Regional Park would be partially funded. It is important to understand this is not a new tax. It would not cost the taxpayer any more money. RECOMMENDATION: The administration recommends the approval of this ordinance to call for a special election on November 12, 2013 to decide the above questions. BUDGET IMPACT: None