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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.), at a rate of one quarter percent (0.25%) of the sale price of the property or, in the case of leases or rentals, of the lease or rental price (collectively, the “Sales and Use Tax”).
The Sales and Use Tax will be levied and net collections received after the State deducts its administrative charges of the State of Arkansas and required rebates (the “Net Collections”) shall be used to provide financial support for the following purposes:
All Net Collections derived from the Sales and Use Tax shall be used 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.
Section 2. The Sales and Use Tax shall be levied, and the Net Collections received after deduction of the administrative charges of the State of Arkansas and required rebates shall be used by the City as provided in Section 1 of this Ordinance.
Section 3. All ordinances and parts thereof in conflict herewith are hereby repealed to the extent of such conflict.
Section 4. This Ordinance shall not take effect until an election is held on the question of levying the Sales and Use Tax, at which election a majority of the electors voting on the question shall have approved the levy of the Sales and Use Tax.