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AN ORDINANCE PROVIDING FOR THE LEVY OF A ONE QUARTER PERCENT (0.25%) SALES AND USE TAX WITHIN THE CITY OF JONESBORO, ARKANSAS; TO PROVIDE THAT ALL NET COLLECTIONS DERIVED FROM THE SALES AND USE TAX SHALL BE USED TO FUND THE ACQUISITION, CONSTRUCTION, REPAIR, EQUIPPING, AND IMPROVING OF CAPITAL IMPROVEMENTS OF A PUBLIC NATURE FOR CITY'S POLICE AND FIRE DEPARTMENTS, AND FOR THE OPERATION AND MAINTENANCE AND STAFFING OF SUCH CAPITAL IMPROVEMENTS
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WHEREAS, the City Council of the City of Jonesboro, Arkansas (the “City”) has determined that the City is in need of an additional source of revenue to acquire, construct, repair, equip, and improve capital improvements of a public nature for the City’s Police and Fire departments, and to provide funds for the operation, staffing, and maintenance of such capital improvements.
WHEREAS, Title 26, Chapter 75, Subchapter 2 of the Arkansas Code of 1987 Annotated (the “Authorizing Legislation”) provides for the levy of a City-wide sales and use tax or taxes at the rate of 0.125%, 0.25%, 0.50%, 0.75% or 1.00%, or any combination thereof; and
WHEREAS, the City is proposing to levy a new sales and use tax at the rate of one quarter percent (.25%), the net collections of which will be distributed to the City and used for the purposes described above, under the Authorizing Legislation; and
NOW, THEREFORE BE IT ORDAINED, by the City Council of the City of Jonesboro, Arkansas, as follows:
Section 1. Under the authority of the Authorizing Legislation there is hereby levied one quarter percent (0.25%) tax on the gross receipts from the sale at retail within the City on all items which are subject to the Arkansas Gross Receipts Tax Act of 1941, as amended (A.C.A. §§26-52-101, et seq.), and the imposition of an excise (or use) tax on the storage, use, distribution, or other consumption within the City of tangible personal property subject to the Arkansas Compensating Tax Act of 1949, as amended (A.C.A. §§26-53-101, et seq....
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