City of Jonesboro - File #: ORD-04:292

• File #: ORD-04:292
• Version: 1
• Name: Creation of the Turtle Creek Redevelopment District
• Type: Ordinance
• Status: Passed
• File created: 7/6/2004
• In control: City Council
• Final action: 7/19/2004
• Title: BE IT ENACTED BY THE CITY COUNCIL OF THE CITY OF JONESBORO, STATE OF ARKANSAS, AN ORDINANCE TO BE ENTITLED: AN ORDINANCE CREATING A REDEVELOPMENT DISTRICT PURSUANT TO ARK. CODE ANN. §§ 14-168-301 ET SEQ., SPECIFICALLY INCLUDING WITHOUT LIMITATION ARK. CODE ANN. § 14-168-305; DESIGNATING THE BOUNDARIES OF SUCH PROPOSED REDEVELOPMENT DISTRICT; ESTABLISHING A SPECIAL FUND FOR THE REVENUE AND EXPENDITURES GENERATED ON ACCOUNT OF SUCH REDEVELOPMENT DISTRICT; ADOPTING A PROJECT PLAN FOR SUCH REDEVELOPMENT DISTRICT; ADOPTING A PLAN TO INCLUDE TAX INCREMENT FINANCING IN SUCH PROJECT PLAN; AUTHORIZING THE ISSUANCE OF REDEVELOPMENT BONDS PURSUANT TO ARK. CODE ANN. § 14-168-314 THROUGH ARK. CODE ANN. § 14-168-320; AND FOR OTHER PURPOSES (NOTE: THE PROJECT PLAN WAS AMENDED BY ORD-04:271 ON DECEMBER 20, 2004; ORD-05:183 ON NOVEMBER 1, 2005; RES-12:219 ON DECEMBER 4, 2012)
• Indexes: Improvement/Redevelopment District
• Related files: ORD-04:271, MIN-04:137, RES-12:219, RES-05:405, RES-05:392, RES-04:535, ORD-05:183

Date	Ver.	Action By	Action	Result
7/19/2004	1	City Council	Passed	Pass
7/6/2004	1	Public Works Council Committee	Recommended to Council	Pass

title
BE IT ENACTED BY THE CITY COUNCIL OF THE CITY OF JONESBORO, STATE OF ARKANSAS, AN ORDINANCE TO BE ENTITLED:

AN ORDINANCE CREATING A REDEVELOPMENT DISTRICT PURSUANT TO ARK. CODE ANN. §§ 14-168-301 ET SEQ., SPECIFICALLY INCLUDING WITHOUT LIMITATION ARK. CODE ANN. § 14-168-305; DESIGNATING THE BOUNDARIES OF SUCH PROPOSED REDEVELOPMENT DISTRICT; ESTABLISHING A SPECIAL FUND FOR THE REVENUE AND EXPENDITURES GENERATED ON ACCOUNT OF SUCH REDEVELOPMENT DISTRICT; ADOPTING A PROJECT PLAN FOR SUCH REDEVELOPMENT DISTRICT; ADOPTING A PLAN TO INCLUDE TAX INCREMENT FINANCING IN SUCH PROJECT PLAN; AUTHORIZING THE ISSUANCE OF REDEVELOPMENT BONDS PURSUANT TO ARK. CODE ANN. § 14-168-314 THROUGH ARK. CODE ANN. § 14-168-320; AND FOR OTHER PURPOSES (NOTE: THE PROJECT PLAN WAS AMENDED BY ORD-04:271 ON DECEMBER 20, 2004; ORD-05:183 ON NOVEMBER 1, 2005; RES-12:219 ON DECEMBER 4, 2012)
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WHEREAS, the City of Jonesboro, Arkansas (the "City") is authorized and empowered under Amendment No. 78 to the Constitution of the State of Arkansas and the provisions of Ark. Code Ann. §§ 14-168-301 et seq. (the "Authorizing Legislation"), specifically including without limitation Ark. Code Ann. § 14-168-305, to create a redevelopment district, designate the boundaries of such proposed redevelopment district and establish a special fund for the revenue and expenditures generated on account such redevelopment district;

WHEREAS, the City, upon its own initiative and upon request by TURTLE CREEK PARTNERS, LLC, an Arkansas limited liability company and property owner within the City (the "Developer"), wishes to create a redevelopment district, and designate the boundaries of such proposed redevelopment district, and

WHEREAS, the City held a public hearing at which all interested parties desiring to be heard in connection with this matter were afforded a reasonable opportunity to express their views on the proposed creation of such redevelopment district and its proposed boundaries (the "Heari...