Title
AN ORDINANCE TO AMEND THE USE OF THE “PARKING METER BOND FUND” AS ESTABLISHED IN ORDINANCE 59:1736 AND TO ABOLISH THE “JONESBORO PARKING AUTHORITY” ESTABLISHED IN THIS SAME ORDINANCE
Body
WHEREAS, Ordinance 59:1736 established the “Jonesboro Parking Authority” to make studies, public presentations and present a master plan for Automobile Parking Facilities and this same Ordinance established “Parking Meter Bond Fund” to receive monies from parking meters and parking fines and leased parking to be used for enforcement of downtown parking and payment of bonds issued for the acquisition of properties and construction of parking facilities; and,
WHEREAS, the bonds for these parking facilities have long been paid and there are no more parking meters the Downtown Improvement District of the City of Jonesboro; and,
WHEREAS, there are needs for improved lighting in downtown Jonesboro.
NOW, THEREFORE, be it ordained by the City Council of the City of Jonesboro, Arkansas:
SECTION 1: Monies in the “Parking Meter Bond Fund” will be transferred to the General Fund for improvements to on-street lighting and decorative lighting in downtown Jonesboro.
SECTION 2: The “Parking Meter Bond Fund” will continue to receive revenues from downtown parking citations and leased parking.
SECTION 3: The “Jonesboro Parking Authority” as established in Ordinance 59:1736 is hereby abolished.
PASSED AND APPROVED this 2nd day of October, 2018.