ORD NO 28-1969 ORDINANCE NO. 28 -1969
AN ORDINANCE SUBMITTING TO THE VOTERS OF THE CITY OF VAN BUREN,
ARKANSAS THE QUESTION UHETHER IT WILL ISSUE BOND TO THE EXTENT
4:1 OF 'S94,000.00 FOR THE PURPOSE OF CONSTRUCTING AND ELL!IPPIiJG A
CITY HALL, TO THE EXTENT OF 04,000.00 FOR THE PURPOSE OF CON-
STRUCTING AND EgUIPPING A LIBRARY, AND TO THE EXTENT OF u112,000.00
FOR' THE PURPOSE OF PURCHhSING FIRE FIGHTING PPAR„TUS, AND PURCHASING
A SITE OR SITES FGR AND CONSTRUCTING BUILDINGS TO HOUSE IT.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF VAN BUREN:
Section 1. An election is hereby called to be held at
the usual polling places in the City of Van Buren on the 16th
day of December, 1969 for the purpose of determining whether
the City of Van Duren will issue negotiable bonds to the extent
of 04,000.00 for the purpose of constructing and equipping
a City Hall, to the extent of 494,000.00 for the purpose of
constructing and equipping a library, and to the extent of
112',000.00 For the purpose of purchasing fire fighting apparatus,
purchasing a_eitu or sites for and constructing buildings to
house it. Siad'bonds shall he payable as hereinafter set forth,
bear`interest at such rate or rates as the Council may determine
in the sale of the bonds andrbeydated January 1, 1970, but
convertible at the option of the purchaser, subject to the approval
of the City, into bonds bearing a lower rate or rates of interest
in accordance with the Universal Bond Values Tables and on such
terms that the City shall receive therefor and pay thereon sub-
stantially the same amount of money as if said bonds were not
converted.
-Section 2. If the vote is favorable to all the issues,
they. will be combined in one issue maturing serially on January
1, in the amounts and years as follows:
4,000 in each of the years 1973 to 1975, inclusive;
05,000 in each of the years 1976 to 1970 inclusive;
06,000 in each of the years 1979 and 1980;
'i:7,000 in each of the years 1981 and 1982;
38,000 in each of the years 1903 and 1984;.,';
,;9,000 in each of the years 1985 and 1986;
$10,000 in the year 1987;
Z11,000 in each of theyyuars 1988 and 1989;
;;12,000 in the year 1990;
;;13,000 in the year 1991;
u14,000 in the year 1992;
;;15,000 in the year 1993;
216,000 in each of the years 1994 and 1995;
.'3171000 in the year 1996;
218,000 in the year 1997;
;;19,000 in the year 1998;
;:20,000 in the year 1999; and
;21,00D in the year 2000.
If less than all issues are approved, the bonds will have
the same maturities though for proportionately less amounts.
The bonds may be made subject to call for redemption before-
maturity at the option of the City on such terms as the City
i may specify in the Notice of the Sale.
Section 3. Said election shall be conducted and the votes
thereat canvassed and the results declared under the law and in
the manner now provided for municipal elections, and notice of
said election shall be given by the Mayor by advertisement weekly
Page 2
for at least four times in some newspaper published in the County
of Crawford and having a bona fide circulation in the City of
Van Buren, tho last publication to be not loss than ton (10) ,days
prior to the date of said election.
The ballots for said election shall be marked:
Vote on measure by placing an 'X' in the square above the
measure either for or against.
"FOR bond issue in tho amount of ;;94,000.00 for the pur-
pose of constructing and equipping a City Hall
"AP(INST bond issue in the amount of 1:94,000.00 for the
purpose of constructing and equipping a City Hall
"FOR bond issue in the amount of fur the pur-
pose of constructing and equipping a library
"AGAINST bond issue in the amount of ',:94,000.00 for the
purpose of constructing and equipping a library [_j
"FOH bond issue in the amount of ;;112,000.00 for the
purpose of purchasing fire fighting apparatus and pur-
chasing a site or sites for and constructing buildings
to, house it
"AGAINST bond issue in the amount of 5112,000.00 for
the':purpose of purchasing fire fighting apparatus and
purchasing a site er sites for and constructing buildings
0 to house it
Section 4. G certified copy of this ordinance shall be given
to the Crawford County Board of Election Commissioners so that it
may place the question on the ballot for said election, provide
the proper election officials and supplies, and canvass the vote
on the question.
Section 5. At said election lnly qualified voters of the
City if Van Buren will have the right to vote. The result of said
election shall be proclaimed by the Mayor by publication in some
newspaper published in the County of Crawford and having a general
circulation in the City of Van Buren for more than twelve months
last just, and his proclamation shall advise tho citizens and
propur'ty owners of said City of Van Buren that the result as
proclaimed will be conslusive unless attacked in the courts within
thirty (30) days after the date of such proclamation.
Suction 6. It is ascertained and declared that the City of
Van Buren lacks adequate facilities for a City administration
building and for a library to meet the needs of its inhabitants,
and lacks adequate fire fighting facilities to protect the
properties, safety and health of the inhabitants of the City; and
that a'City Hall, library, and additional fire fighting facilities
are immediately necessary.
IT I5 THEREFORE, declared that an emergency exists, that this
ordinance is necessary for the immediate preservation of the public
peace,.health and safety and that this ordinance shall take effect
and be in force from and after its passage.
Pass: November 10, 1969
0
;,llen R. Toothaker (s)
p Mayor
Attested:
Geo. L. Crofton (s)
City Clerk