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AN ORDINANCE ASSESSING THE VALUE OF BENEFITS TO BE RECEIVED BY THE OWNERS OF EACH OF THE SEVERAL BLOCKS LOTS AND PARCELS OF LAND WITHIN JONESBORO SEWER IMPROVEMENT DISTRICT NO. 2 OF JONESBORO, ARKANSAS; AND DECLARING AN EMERGENCY
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WHEREAS, a majority in value of the owners of real property adjoining the locality to be affected and situated in Jonesboro Sewer Improvement District No. 2 (the “District”) (Mardis) organized for the purpose of constructing and financing facilities for the collection and transmission of domestic sewage, as more fully described in the Petition for the formation of the District, have petitioned the City Council of the City for the construction of the improvements and that the cost thereof shall be assessed upon the real property of the District according to the benefits received ; and
WHEREAS, the assessments have been duly made by the Board of Assessors of the District and filed in the office of the City Clerk pursuant to law, and notice of such filing was duly published in a newspaper of general circulation in the City not less than ten (10) days prior to the date of consideration of this Ordinance; and
WHEREAS, no protests of assessments have been received: and
WHEREAS, the benefits received by each block, lot and parcel for real property situated in the District equal or exceed the local assessment thereon; and
WHEREAS, the estimated cost of the improvements (including costs of financing and of the funding of necessary reserves) to the District is $570,625 and the assessed benefits amount to $1,597.780.
NOW THEREFORE, BE IT ORDAINED by the City Council of the City of Jonesboro, Arkansas:
SECTION 1: That each of the blocks, lots and parcels of real property in the District be assessed according to the assessment list of the District as the same now remains in the office of the City Clerk and that 5% of the assessment of each of the blocks, lots and parcels shall be collected annually by the County Collector of Craighead County, Arkansas. The first annual installment shall be collected on or before October 10, 1991 and subsequent installments shall be collected in the year 1991 and thereafter, with installments of general taxes, until the whole of the local assessment shall be paid or until the bonds of the District have been retired or provision for their payment has been made, whichever is earlier.
As provided in Arkansas Code of 1987 Annotated §14-90-801, collection of annual installments may be suspended, in whole or in part, as determined by the District, to the extent set forth in a certificate of the Commissioners of the District filed with the County Collector of Craighead County, Arkansas on or before December 1 of the year for which such suspension shall be effective.
SECTION 2: That all ordinances and resolutions and parts thereof in conflict herewith are hereby repealed to the extent of such conflict.
SECTION 3: That this Ordinance shall be in full force and effect from and after its passage.
SECTION 4: That the improvements are essential to the continued growth and well-being of the City and can be accomplished only by the assessment affected hereby. Therefore, an emergency is declared to exist and this Ordinance, being necessary for the preservation of the public peace, health and safety, shall be in force upon its passage and approval.
PASSED this 1st day of April, 1991.