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AN ORDINANCE PROVIDING FOR THE LEVY OF A ONE-HALF PERCENT (0.50%) SALES AND USE TAX WITHIN THE CITY OF JONESBORO, ARKANSAS AND TO PROVIDE THAT ALL NET COLLECTIONS DERIVED FROM THE SALES AND USE TAX SHALL BE USED TO FUND THE ACQUISITIONS, IMPROVEMENTS OF A PUBLIC NATURE FOR THE CITY’S POLICE AND FIRE DEPARTMENTS, AND FOR THE OPERATION, MAINTENANCE AND STAFFING OF THE CITY’S POLICE AND FIRE DEPARTMENTS
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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 for the purpose of acquiring, constructing, repairing, equipping, and improving capital improvements of a public nature, and to provide funds for the operation, maintenance, and staffing of the City’s Police and Fire Departments;
WHEREAS, Title 26, Chapter 75, Subchapter 3 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%, 0.2525%, 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-half percent (0.50%), collections of which will be distributed to the City’s Police and Fire Departments for the purposes described above, under the Authorizing Legislation.
THEREFORE, BE IT ORDAINED by the City Council for the City of Jonesboro, Arkansas that:
SECTION ONE: Under the authority of the Authorizing Legislation there is hereby levied one-half percent (0.50%) 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. 25-52-101, 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-half percent (0.50%) of the sa...
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