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Ordinance 1997-09

AN ORDINANCE TO ESTABLISH CRITERIA BY WHICH PROPERTY
ACQUIRED BY THE CITY OF JOHNSON, ARKANSAS, SHALL BE
CLASSIFIED AS A FIXED ASSET OR EQUIPMENT AND DECLARING AN
EMERGENCY TO EXIST.
WHEREAS, __ Arkansas Code Annotated §14-59-107 requires
municipalities to establish and maintain records of fixed assets
and equipment owned by the municipality, and,
WHEREAS, the Recorder-Treasurer for the City of Johnson,
Arkansas, has been advised by a Deputy Legislative Auditor to
obtain City Council guidance on how to determine what items of
property and equipment are to be recognized as fixed assets and
equipment:
BE IT ORDAINED by the City Council of the City of Johnson:
Section 1: That all items, equipment, property, and things
hereafter purchased or acquired by the City of Johnson, Arkansas,
shall be evaluated by the Mayor, Recorder-Treasurer and Chief of
Police, using the criteria hereinafter laid out and described to
determine which items, equipment, property and things should be
listed/identified as "fixed assets or equipment" and accounted for
as provided in Arkansas Code Annotated §14-59-107.
Section 2: The criteria to be used in making the
determination as to whether an item, piece of equipment, item of
property or other thing acquired by the City of Johnson is a "fixed
asset or equipment" shall be as follows:
a) the cost or acquisition value;
b) the anticipated useful life of the item, equipment,

property or thing, and;
c) other relevant City, County, State or Federal laws
or regulations in effect .
Section 3: Once a determination is made by two or more of
the responsible officials of the City, then the Recorder-Treasurer
shall properly account for same in accordance with Arkansas Code
Annotated §14-59-107.
Section 4: EMERGENCY CLAUSE It is further determined
and ordained by the City Council for the City of Johnson, Arkansas
that an emergency exists; immediate passage and implementation of
this Ordinance is necessary for the efficient administration of
city business and to preserve the public peace, health, safety and
welfare of the citizens of Johnson, Arkansas; and, therefore, this
Ordinance shall be in full force and effect from and after its
passage and approval .