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City outlines timeline for broadened 1-cent sales tax and moves CD funds into water/sewer expansion account
Summary
Officials said a 30-day public notice for the broadened use of a previously approved one-cent sales tax has been posted; the city cannot collect under the broadened use until the state’s next quarterly effective date (July 1), and staff reported closing CDs and moving funds into a new water and sewer expansion account while requesting a state safety study for a hazardous River Road intersection.
City staff told the council that following voter approval on March 3 for a broadened use of a one-cent sales tax, a 30-day newspaper notice has been posted; after the notice period staff will coordinate with the Arkansas Department of Finance and Administration. The city cannot begin collecting under the broadened use until the state’s next quarterly effective date (July 1), meaning revenue from the broadened use would not be received until July and will be available to spend in late August under state timing rules discussed at the meeting.
Separately, staff reported that a $32,000 certificate of deposit (CD) closed on the meeting day and a $63,000 CD had closed the prior week; council had previously agreed to move those funds into a newly created water and sewer expansion account to support a planned $80,000 water/sewer line item. The transcript states the city will migrate the CD funds into that new account and that an $80,000 contribution is budgeted toward water and sewer expansion (specific expenditures and schedule were not detailed in the meeting record).
Staff also shared historical crash data for River Road and said they requested an intersection safety study from the state (District 8 engineer). The state recommended adding signage (including a stop-ahead sign on the north side of River Road) as an initial remedy; staff said they will monitor the intersection and retouch the state if signage does not improve safety.
