Title
AN ORDINANCE PROVIDING FOR THE LEVY OF A ONE-HALF PERCENT SALES AND USE TAX WITHIN THE CITY OF JONESBORO, ARKANSAS; ALL PROCEEDS DERIVED FROM THE SALES AND USE TAX WILL BE FOR PROVIDING POLICE AND FIRE SERVICES.
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WHEREAS, the City Council of the City of Jonesboro, Arkansas (the City) has determined that there is a continuing great need for providing police and fire services for a source of revenue to finance such services; and
WHEREAS, Title 26, Chapter 75, Subchapter 2 of the Arkansas Code of 1987 Annotated (the Authorizing Legislation) provides for the levy of a one-half percent (.5%) citywide sales and use tax for the benefit of the City of Jonesboro.
NOW, THEREFORE, BE IT ORDAINED by the City Council of the City of Jonesboro, Arkansas:
SECTION 1: Under the authority of the Authorizing Legislation, there is hereby levied a one-half percent (.5%) tax on the gross receipts from the sale at retail within the City of all items which are subject to the Arkansas Gross Receipts Act of 1941, as amended (A.C.A. 26-52-101 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 (.5%) of the sale price of the property or, in the case of leases or rentals, of the lease or rental price (collectively, the Sales and Use Tax). The Sales and Use Tax shall be levied and collected only on the first $2,500 for each single transaction.
SECTION 2: That all proceeds derived from the Sales and Use Tax will be for providing police and fire services.
SECTION 3: That all ordinances and parts thereof in conflict herewith are hereby repealed to the extent of such conflict.
SECTION 4: That this Ordinance shall not take effect until an election is held on the question of levying the Sales and Use Tax at which a majority of the electors voting on the questio...
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