RESOLUTION NO. 2012 _____
A RESOLUTION IN SUPPORT OF PROPOSED CONSTITUTIONAL
AMENDMENT NO. 2 FOR THE CITY OF BRYANT, ARKANSAS, AND
FOR OTHER PURPOSES.
WHEREAS, The Governor approved SJR5 on April 4, 2011 and the matter will be
placed on the November 6, 2012 ballot as Proposed Constitutional Amendment
No. 2 for approval by Arkansas voters; and
WHEREAS, Proposed Constitutional Amendment No. 2 will improve and
enhance financing options available for local governments in Arkansas; and
WHEREAS, Proposed Constitutional Amendment No. 2 will allow cities and
counties to create districts within the city or county for development and
redevelopment projects within the district and to issue bonds payable from the
increased amount of sales and use tax collected within the district for financing
such projects; and
WHEREAS, Proposed Constitutional Amendment No. 2 will authorize a
municipality or county, with voter approval, to issue bonds and levy a sales
and use tax for the purpose of retiring unfunded liabilities of closed local
police and fire pension plans; and
WHEREAS, Proposed Constitutional Amendment No. 2, provides that the annual
principal and interest payments on “short-term” financing obligations authorized
by Amendment 78 of the Arkansas Constitutional may be paid from special
revenues authorized to be used for the property financed, in addition to general
revenues for the fiscal year.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
BRYANT, ARKANSAS THAT:
HEREBY, endorses and recommends voter approval of Proposed Constitutional
Amendment No. 2 at the November 6, 2012, General Election, which will enhance
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and improve financial options available to better serve the needs of the citizens by
providing new and additional funding for necessary public programs, facilities and
services; as well as clarifying and improving the existing short-term financing
provisions of Amendment 78 of the Arkansas Constitution.
PASSED AND APPROVED this ________ day of October, 2012.
APPROVED:
_________________________
Jill Dabbs, Mayor
ATTEST:
Approved as to Form:
___________________
Heather Kizer, City Clerk
Attorney
_________________________
Richard Chris Madison, Staff
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