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RES NO 09-03-1984 et-3 -1q 84 CITY OF VAN BUREN, ARKANSAS RESOLUTION NO. 3 -7 -1984 WHEREAS, the Arkansas Constitution of 1874 imposes undue financial restrictions and limitations on cities and counties; and WHEREAS, in an effort to alleviate the situation, the Arkansas General Assembly approved Proposed Constitutional Amendment No. 62 the LOCAL CAPITAL IMPROVEMENT BOND AMENDMENT during its regular session in 1983; and WHEREAS, Proposed Constitutional Amendment No 62 the LOCAL CAPITAL IMPROVEMENT BOND AMENDMENT will be on the ballot at the general election, November 6, 1984; and WHEREAS, the current financial restrictions and limitations on cities and counties impede and stifle the orderly growth of the cities and counties; and WHEREAS, for cities and counties to provide the basic and essential services for the people of Arkansas, cities and counties must have the authority to seek voter approval of public capital improvements; and WHEREAS, Proposed Amendment No. 62 the LOCAL CAPITAL IMPROVEMENT BOND AMENDMENT would give the voters in cities and counties the choice to approve needed public capital improvements, thus insuring the orderly growth of Arkansas while at the same time providing the citizens of Arkansas with adequate governmental services; and WHEREAS, Proposed Amendment No. 62 the LOCAL CAPITAL IMPROVEMENT BOND AMENDMENT will allow the voters the authority to adopt measures to promote industrial development, thus creating jobs and ultimately broadening the tax base to pay for basic and essential services; and WHEREAS, Proposed Amendment No. 62 the LOCAL CAPITAL IMPROVEMENT BOND AMENDMENT would foster a new concept and allow local government units cities, towns, counties and school districts -to join together to help attract industries to an area. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF VAN BUREN, ARKANSAS: THAT, the Van Buren City Council does hereby approve and endorse Proposed Amendment No. 62, the LOCAL CAPITAL IMPROVEMENT BOND AMENDMENT. PASSED AND APPROVED THIS 17th DAY OF September 19 84 ATTESTEDY CITY C C L RK E TREAAS