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AN ORDINANCE AMENDING ORDINANCE NO. 1657 OF THE CITY COUNCIL OF THE CITY OF JONESBORO, ARKANSAS; CHANGING THE NAME OF THE FACILITIES BOARD CREATED IN SUCH ORDINANCE TO THE “CITY OF JONESBORO, ARKANSAS RESIDENTIAL HOUSING AND HEALTH CARE FACILITIES BOARD;” EXPANDING THE POWERS OF SAID FACILITIES BOARD PURSUANT TO THE PROVISIONS OF ACT NO.142 OF THE ACTS OF ARKANSAS; PRESCRIBING OTHER MATTERS RELATING THERETO; AND DECLARING AN EMERGENCY
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WHEREAS, the City of Jonesboro, Arkansas (the “City”), pursuant to the provisions of Act No. 142 of the Act of the General Assembly of the State of Arkansas for the years 1975, as amended (the “Act”) is authorized to establish public facilities boards for the purposes set forth in the Act, which includes assisting in the financing of residential housing facilities and health care facilities within or near the City; and
WHEREAS, the City in its Ordinance No. 1657, duly adopted October 16, 1978, created the City of Jonesboro, Arkansas Residential Housing Facilities Board pursuant to the provisions of the Act for the purpose of assisting in the financing of residential housing facilities; and
WHEREAS, the providing of adequate health care facilities will be aided by expanding the powers of the City of Jonesboro, Arkansas Residential Housing Facilities; and
WHEREAS, funds may be obtained by a public facilities board on such terms and under such conditions as will materially assist in obtaining financing under conditions more favorable than would otherwise be available, thus insuring the availability of adequate health care facilities to the public at the lowest possible cost, thereby benefiting the public in general and the citizens and residents of the City in particular.
NOW, THEREFORE, BE IT ORDAINED by the City Council of the City of Jonesboro, Arkansas;
Section 1: Findings: Section 1 of Ordinance no. 1657 is hereby amended by adding the following additional subsections:
“(f) There exists within and near the City a...
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