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Ordinance 2004-19

ORDINANCE NO. 2004-19
AN ORDINANCE ADOPTING A PROJECT PLAN FOR THE CITY OF
JOHNSON, ARKANSAS CLEAR CREEK REDEVELOPMENT DISTRICT
#1; PRESCRIBING OTHER MATTERS RELATING THERETO; AND
DECLARING AN EMERGENCY.
WHEREAS, pursuant to Ordinance No. 2004-12 adopted on October 12, 2004, the City
Council of the City of Johnson, Arkansas (the "City") has created the City of Johnson, Arkansas
Clear Creek Redevelopment District #1 (the "District") under the authority of the Constitution
and laws of the State of Arkansas, including particularly Amendment 78 to the Constitution of
the State of Arkansas (''Amendment 78") and Arkansas Code Annotated (2003 Supp.) Sections
14-168-301 etseg. (as from time to time amended, the ''Act'1): and
WHEREAS, it has been determined that there is a great need for a source of revenue to
finance the costs of acquisition, construction and equipping of certain street, sidewalk, traffic
signal, drainage, lighting and water and waste water utility improvements (the '"'Project") within
the boundaries of the District; and
WHEREAS, the City is authorized and empowered under the provisions of Amendment
78 and the Act to issue and sell its bonds to finance the costs of various capital improvements
within the District such as those comprising the Project, which bonds are to be secured by and
payable from the ad valorem tax increment described in and authorized by the Act; and
WHEREAS, prior to the issuance of any such indebtedness, the Act requires the City
Council to adopt a project plan with respect to the District and any proposed improvements
therein; and
WHEREAS, a project plan conforming to the requirements of the Act has been presented
and is before this meeting for consideration: and
WHEREAS, a public hearing on the proposed project plan was held at 6:30 p.m. on
December 20, 2004. following publication of notice thereof in the Northwest Arkansas Edition
of the Arkansas Democrat-Gazette on December 2, 2004, and mailing of such notice to the chief
executive officers of all local governmental and taxing entities having the power to levy ad
valorem taxes on real property within the District and to the school boards of the Fayetteville and
Springdale school districts:
NOW, THEREFORE, BE IT ORDAINED by the City Council of the City of Johnson,
Arkansas that:
Section 1. It is hereby found that the District's project plan in the form attached
hereto as Exhibit A (the "Project Plan") is economically feasible and conforms to the
requirements of the Act. Accordingly, under the authority of the Constitution and laws of the
State of Arkansas, including particularly Amendment 78 and the Act, the Project Plan is hereby
adopted and approved.
Doc ID: 008066640002 Tvoe• REL
Recorded: 01/18/2005 at 10:44:55 AM
Fee Amt: $11.00 Paqe 1 of 2
Washinaton Countv. AR
Bette Stamps Circuit Clerk
10-706S7.2 . File
- ^«,.rhs^ '-'J.I ^U J. L UJ.OI ft
2005-00002491
Section 2. The provisions of this Ordinance are hereby declared to be severable, and
if any section, phrase or provision shall for any reason be declared to be illegal or invalid, such
declaration shall not affect the validity of the remainder of the sections, phrases or provisions of
this Ordinance.
Sections. All ordinances, resolutions and parts thereof in conflict herewith are
hereby repealed to the extent of such conflict.
Section 4. There is hereby found and declared to be an immediate need for
infrastructure improvements within the District, which improvements will benefit the public
health, safety and welfare of the City and its inhabitants, and the approval of the Project Plan is
an immediately necessary step in connection with such improvements. It is. therefore, declared
that an emergency exists and this Ordinance being necessary for the immediate preservation of
the public health, safety and welfare shall be in force and take effect immediately upon and after
its passage.
ADOPTED AND APPROVED THIS 20th DAY OF DECEMBER, 2004.
APPROVED: Richard Long, Mayor
ATTEST:
Jennifer Allen, City Reorder/Treasurer