ORDINANCE NO. 20-25
AN ORDINANCE AMENDINGORDINANCE NO. 72-85 LEVYING AONE PERCENT (1%) SALES ANDUSE TAX WITHIN THE CITY OFFORT SMITH, ARKANSAS, INORDER (A) TO SET DECEMBER 31,2059 AS THE EXPIRATION DATE OFTHE TAX AND (B) TO AUTHORIZETHE NET COLLECTIONS OF THETAX TO BE USED AS FOLLOWS: (i)62.5% FOR STREETS, BRIDGESAND ASSOCIATED DRAINAGE; AND(ii) 37.5% FOR BETTERMENTS ANDIMPROVEMENTS TO THE SEWERSYSTEM AND CONSENT DECREESEWER PURPOSES AND THEPLEDGE OF SUCH 37.5% OF NETCOLLECTIONS OF THE TAX TOREPAY AND SECURE BONDSISSUED TO FINANCE CAPITALIMPROVEMENTS FOR SUCHPURPOSES; AND PRESCIBINGOTHER MATTERS RELATINGTHERETO.https://www.fortsmithar.gov/home/showdocument?id=12588&t=638784898645955264
