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AN ORDINANCE AUTHORIZING THE ISSUANCE OF BONDS UNDER AMENDMENT NO.13 TO THE CONSTITUTION OF THE STATE OF ARKANSAS FOR FINANCING THE COST TO THE CITY OF CERTAIN IMPROVEMENTS DESCRIBED IN THE ORDINANCE; AUTHORIZING AND DIRECTING THAT THE IMPROVEMENTS DESCRIBED IN THE ORDINANCE; AUTHORIZING AND DIRECTING THAT THE IMPROVEMENTS DESCRIBED IN THE ORDINANCE BE ACCOMPLISHED; LEVYING A TAX TO PROVIDE FOR THE PAYMENT OF THE PRINCIPAL OF AND INTEREST ON THE BONDS; PRESCRIBING OTHER MATTERS RELATING THERETO; AND DECLARING AN EMERGENCY
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WHEREAS the City of Jonesboro, Arkansas (the “City”) is a city of the first class; and
WHEREAS by Ordinance No.1198 of the ordinances of the City adopted and approved on the 4the day of April, 1968, there were submitted to the qualified electors of the City the questions of issuing bonds under Amendment No.13 to the Constitution of the State of Arkansas for the following purposes: $59,000 for the purpose of financing a portion of the cost of developing and improving the municipal airport (with the remainder of the cost to be obtained from the issuance by the City of bonds under Amendment No.49 to the Constitution of the State of Arkansas in the principal amount of $605.000 and an anticipated grant from all agency of the Government of the United States of America); $841,000 for the purpose of providing public parking so as to relieve congestion and thereby make more economical and effective the construction of public streets and boulevards and provide access to various municipal buildings and services; and $260,000 for the purpose of financing a portion of the cost of constructing and equipping hospital facilities (the City participating with other government agencies in a medical complex known as the Arkansas Services Center, Jonesboro), collectively referred to as “Improvements”; and
WHEREAS due notice of the election was given as required by law and the election was held on the 21st day of May, 1968, at which election the issuanc...
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