Notice is hereby given that a Special Election will be held in Calhoun County, Arkansas (the 'County') on March 5, 2024 at which there shall be submitted to the electors the following questions: 1. The adoption of a 0.125% local sales and use tax within the County (the '0.125% Sales and Use Tax'), the net collections of which remaining after deduction of the administrative charges of the State of Arkansas and required rebates will be distributed only to the County and used for one or more of the following: (a) to acquire, construct, improve, expand, equip, furnish, operate and maintain new or existing park and recreational facilities and (b) to pay and secure the repayment of bonds approved by the voters and issued by the County from time to time to finance park and recreational improvements. The levy of the 0.125% Sales and Use Tax is not dependent on any bonds being approved or issued.
2. The issuance of bonds of the County in one or more series in the maximum aggregate principal amount of $3,050,000 to finance all or a portion of the costs of acquiring, constructing, equipping and furnishing park and recreational facilities and improvements, including particularly, without limitation, improvements to the rodeo arena and any furnishings and equipment and parking, restroom, landscaping, signage, drainage, lighting and utility improvements related thereto, and, in order to pay the bonds, the levy and pledge of a 0.375% local sales and use tax within the County (the '0.375% Sales and Use Tax').
If the bonds are approved, there will be levied within the County the 0.375% Sales and Use Tax, the net collections of which remaining after deduction of the administrative charges of the State of Arkansas and required rebates will be used solely to retire or pay obligations with respect to the bonds in accordance with Amendment No. 62 to the Arkansas Constitution. The 0.375% Sales and Use Tax will expire after the bonds have been paid or provision is made therefore in accordance with Arkansas statutes. In order to provide additional funds to pay or to further secure repayment of the bonds, the County may also pledge to the bonds the net collections of the 0.125% Sales and Use Tax if such additional tax is separately approved by the voters. The issuance of the bonds is not dependent on the 0.125% Sales and Use Tax being approved.
Only qualified electors of the County will have the right to vote and the electors may vote either for or against each question as described above. The election will be held between the hours of 7:30 o'clock a.m. and 7:30 o'clock p.m. on March 5, 2024.
GIVEN this 22nd day of February , 2024. /s/ Jeannie Smith County Clerk of Calhoun County, Arkansas
