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AN ORDINANCE CALLING AN ELECTION IN THE CITY OF JONESBORO FOR THE PURPOSE OF SUBMITTING TO THE ELECTORS OF SAID CITY THE QUESTION OF ISSUING BONDS FOR THE PURPOSE OF AIDING IN THE BUILDING AND EQUIPPING OF A CITY HALL INCLUDING A CENTRAL FIRE STATION AND A FIRE SUBSTATION; AND DECLARING AN EMERGENCY
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WHEREAS, the City of Jonesboro, Arkansas, a city of the first class, needs a City Hall to provide space and efficient facilities for the administration of the City’s affairs, and can combine with this building space for a central fire station; and
WHEREAS, the City must provide a second fire station to meet the requirements of the rating bureau and thus avoid a substantial increase in insurance rates; and
WHEREAS, the City has available for these purposes the sum of approximately $78,000, and it is estimated that an additional $180,000 will be needed, of which $150.000 will be for the City Hall and central fire station, and $30,000 for the fire sub-station, and this money can be secured by the issuance and sale of general obligation bonds of the city under the provisions of Amendment No.13 to the Construction of the State of Arkansas, provided the bonds are approved by the consent of a majority of the qualified electors of the city voting on the question at an election held for that purpose;
NOW, THEREFORE, BE IT ORDAINED by the City Council of the City of Jonesboro, Arkansas:
SECTION 1: That a special election is hereby called to be held in said City on the 8th day of April 1958 for the purpose of voting on the questions of issuing $180,000 in bonds for the purpose of aiding in the building and equipment of a City Hall and Central Fire Station and a Fire Sub-station, of which $150,000 shall be for the City Hall and Central Fire Station and $30,000 for the Fire Sub-station, the bonds to bear interest at a rate acceptable to the City Council at the time of their sale and, at the option of the City Council, to be convertible to a rate or rates of interest lower than the rate bid upon, subject to the terms and conditions of conversion fixed by the City Council. In the event both purposes are approved, the two issues shall be combined into one issue.
SECTION 2: The issue of $150,000 shall be dated as of March 1, 1958, and shall mature on April 1 of each year as follows:
$ 9,000 in 1961 and 1962
10,000 in 1963 and 1964
11,000 in 1965 and 1966
12,000 in 1967, 1968 and 1969
13,000 in 1970 and 1971
14,000 in 1972 and 1973
SECTION 3: The issue of $30,000 shall be dated as of March 1, 1958 and shall mature on April 1 of each year as follows:
$1,500 in 1961 and 1962
2,000 in 1963 to 1966, both inclusive
2,500 in 1967 to 1970, both inclusive
3,000 in 1971, 1972 and 1973
Section 4: The ballot for said election shall be in substantially the following form:
Ballot
Special Election
City of Jonesboro, Arkansas
April 8, 1958
Vote on each measure by placing an “X” in the square above the measure either for or against.
For the issue of bonds in the amount of $150,000…………………………….|___|
Against the issue of bonds in the amount of $150,000………………………|___|
The bonds are to be issued for the purpose of aiding in the building and equipment of a City Hall and Central Fire Station.
For the issue of bonds in the amount of $30,000…………………………….|___|
Against the issue of bonds in the amount of $30,000…………………………|___|
The bonds are to be issued for the purpose of aiding in building and equipping of a Fire Sub-Station.
If both issues are approved, they will be combined into one issue and will bear interest at a rate acceptable to the City Council at the time of their sale and, at the option of the City Council, to be convertible to a rate or rates of interest lower than the rate bid upon, subject to the terms and conditions of conversion fixed by the City Council.
Voter’s No.________
SECTION 5: That said election shall be held and conducted and the vote thereof canvassed and the result declared under the law and in the manner now provided for municipal elections, so far as the same may be applicable, and the Mayor of the City of Jonesboro is hereby authorized and directed to give notice of such election by an advertisement published weekly, once a week for four times, in a newspaper published in the City of Jonesboro and having a bona fide circulation in said City, the last publication to be not less than ten days prior to the date of said election, and only qualified electors of the City of Jonesboro shall have the right to vote at said election.
SECTION 6: The result of said election shall be proclaimed by the Mayor and his proclamation shall be published one time in said newspaper, and the result of said election as proclaimed by the Mayor shall be conclusive unless attacked in the courts within thirty days after the date of such proclamation.
SECTION 7: In anticipation that the electors of the City will favor the bond issues, and in order to hasten the beginning of the proposed improvements, the Mayor and City Clerk are authorized to advertise, according to the terms of Amendment No.13 to the Constitution of the State of Arkansas, the public sale of the proposed bond issue, the form, time and place to be fixed by them, and in said notice they shall provide that the buyer may have the right to convert the bonds to bonds bearing a lower rate of interest, upon such terms that the City will receive no less and pay no more than it would receive and pay if the bonds were not converted; subject to the terms and conditions of conversion that are acceptable to the City Council; that the buyer may designate the trustee and place of payment of the issue; and that the bonds will be callable for payment prior to maturity in inverse numerical order at par and accrued interest, as follows: From surplus revenues derived from the special tax levied for their payment on any interest paying date; from funds from any source, on any interest paying date on and after April l, 1961.
SECTION 8: That a copy of this ordinance by given to the Craighead County Sheriff in order that he may post and publish his proclamation of said election, and a copy be given to the Craighead County Board of Election Commissioners, so that they may provide the proper election officials and supplies.
SECTION 9: It is hereby ascertained and declared that there is an immediate and urgent need for proper housing for the City government, a central fire station and a fire sub-station, in order to protect the health, life and property of the inhabitants of the City of Jonesboro, Arkansas, and that therefore an emergency exists and this ordinance is necessary for the preservation of the public peace, health and safety, and shall be in force and take effect immediately upon and after its passage.
PASSED and ADOPTED this 3rd day of March, 1958.