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RESOLUTION TO LEVY A .6 MILL TAX ON ALL REAL AND PERSONAL PROPERTY FOR THE COMMUNITY CENTER
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WHEREAS: Pursuant to the terms of Amendment No.13 to the Constitution of the State of Arkansas, authorizing cities of the first and second class to issue by and with the consent of the majority of the qualified electors of said municipality voting on the question at an election held for the purpose of purchase of a site, development of a building for a recreation and comfort station, a municipal community center, including therein an auditorium, library and a public park and swimming pool in connection therewith; and further providing for a levy of a special tax, not to exceed 5 mills on the dollar, on real and personal taxable property within said municipality sufficient to pay the interest of such bonds as the same matures, and also sufficient to pay and discharge the principal of such bonds; and an Ordinance being No.858, was passed, adopted and approved by the City Council of the City of Jonesboro, Arkansas, on September 29,, 1953, a date at least 30 days prior to the general Election to be held as required by law on Tuesday, November 2, 1953, stating that the purpose for which the bonds are to be issued, the sum total of the issue as $75,000.00 the dates of maturity thereof, fixing the date of election and calling for a tax levy, not to exceed three mills, for the purpose of paying off said bond issue; whereupon said ordinance was published one time on October 1, 1953, in a newspaper published in said municipality by the Mayor be advertisement weekly for four times on October 2, 9, 16, 23, 1953. The last date being not less than ten days prior to the date of election that the Craighead County Board of Election Commissioners duly certified to the Mayor and City Council of said municipality voting on the question at such election held on November 3, 1953, that a majority of the qualified electors voted in favor of the bond issue and tax, and the result of said election was duly proclaimed by the Mayor as conclusive, unless attacked in the courts within thirty days after date of such proclamation:
WHEREAS: The City Council doth hereby find that it will require the sum of $5,040.00 per year to amortize the principal and interest of said $75,000.00 bond issued at 3% interest over a period of twenty years;
WHEREAS: The City Council doth hereby find the total assessed valuation of taxable property, both real and personal, within the City of Jonesboro, Arkansas, is the sum of $_______________.
WHEREAS: The City Council doth hereby find that in order to raise said sum of $5,040.00 for payment of the principal and interest of said bond issue and to further afford a reasonably safe reserve for the protection of said bond issue, it is necessary to levy a tax of .6 mills per dollar of assessed valuation upon the taxable real and personal property by the City Council of the City of Jonesboro, Arkansas.
NOW, THREFORE, BE IT RESOLVED by the City Council of the City of Jonesboro, Arkansas:
(1) That there be and there is hereby levied on all real and personal property within the City of Jonesboro, a tax of .6 mills on each dollar of assessed valuation of all taxable real and personal property lying and situated within the City of Jonesboro, Arkansas for the year 1960, to be collected in the year 1961 and in each succeeding year until the principal and interest of the proposed bond issue has been paid in full, and that the funds realized therefrom be devoted to the purpose set out therein above.
(2) That the County Clerk of Craighead County, Arkansas, be and he is hereby authorized and directed to extend said tax as herein described upon the tax books and that the same be collected in the same manner and by the same persons as other taxes are collected.
(3) That the City Clerk is hereby directed to spread this resolution upon the Minute Books of the City Council and to certify a copy of same to the County Clerk of Craighead County, Arkansas.
PASSED and ADOPTED this 5th day of December, 1960.