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1595., ~Irr 4~ ~M' ORDINANCE NO. IS qS AN ORDINANCE TO REPEAL ORDINANCE NUMBER 1591 OF THE CITY OF WEST MEMPHIS DEC~AQ~N(p AN EMS.R6~-aGy~ AND FoR o-r~~e P~ R~ sus . WHEREAS, the West Memphis City Council passed Ordinance 1591 on June 24, 1993, for the purpose of levying an additional hotel and restaurant gross receipts tax at the rate of 2% to secure bonds which were proposed to be issued for the construction of a municipal golf course and related facilities (the "Golf Course") and arena and fairgrounds facilities with related facilities (the "Fairgrounds"); and WHEREAS, pursuant to Ordinance 1592, the proposed bond issues for the Golf Course and the Fairgrounds were submitted to the electors of the City of West Memphis at a special election held on Tuesday, July 27, 1993; and WHEREAS, the proposed bond issues for the Golf Course and the Fairgrounds failed to receive the approval of a majority of those electors voting in the July 27, 1993, special election, thereby negating the necessity of the additional 2~ hotel and restaurant gross receipts tax; and WHEREAS, Ordinance 1591 which levied the additional 2~ hotel and restaurant gross receipts tax should be repealed; NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF WEST MEMPHIS, ARKANSAS: SECTION 1. Ordinance 1591 adopted by the West Memphis City Council on June 24, 1993, is hereby specifically repealed. SECTION. 2. No part of this Ordinance is intended, nor shall it be construed as amending or repealing any part or provision ~, of Ordinance 917 of the Gity of West Memphis (which levied the City's existing 1% hotel and restaurant gross receipts tax). 3. EMERGENCY CLAUSE. It having been found and determined by the City Council of the City of West Memphis, Arkansas, that there is an urgent and immediate need by the City of West Memphis to clarify the effect of Ordinance 1591 and to prevent needless expense and preparation for the collection of the tax levied by Ordinance 1591, an emergency is hereby declared to exist, and this ordinance being necessary for the preservation of the public peace, health, safety and welfare of the citizens of Wet Memphis, Arkansas, shall be in full. force and effect from and after the date of its passage and approval. PASSED AND APPROVED this S T day of _ , 1993. KITH 1'l. 'INGRAM, MA