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RESOLUTION TO LEVY A .5 MILL TAX ON ALL REAL PROPERTY AND A 1 MILL TAX ON ALL PERSONAL PROPERTY FOR THE POLICE PENSION FUND
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WHEREAS, the duly qualified and acting Board of Trustees of the Police Pension Fund have enacted and caused to be certified to the City Clerk, a Resolution finding that the sum of $____________ is necessary to discharge the functions of said Board during 1987.
WHEREAS, the City Council approves said Resolution; and
WHEREAS, the City Council finds that in order to raise said sum, it is necessary to levy a tax of .5 mills on the dollar on all real property and 1.0 mill on the dollar on all personal property within the City.
NOW THEREFORE, BE IT RESOLVED by the City Council of Jonesboro:
That there be and there is hereby levied on all real property a tax of .5 mill on each dollar and on personal property a tax of 1.0 mill on each dollar of assessed valuation.
That the County is hereby authorized and directed to extend said tax upon the tax book and that the same to be collected in the same manner as other property taxes are collected.
PASSED and ADOPTED this 3rd day of November, 1986.