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Sherwood | Proposed tax for to be on ballot

For months, Sherwood aldermen have been debating whether to hold an election on a proposed property tax increase to build a new city library either on a special or general election ballot this year.

On Monday, aldermen unanimously voted to place it on the general election ballot that is scheduled for Nov. 4.

Originally, the library tax has been proposed to be held in a special election set for Aug. 12.

The council voted 7-0 to hold the election in November. Alderman Charlie Harmon did not vote because he was absent.

“The City Council has determined that it would be in the best interests of the city to acquire, construct and equip land and additional capital improvements for city libraries and related facilities at an estimated cost of not to exceed $6 million,” reads the ordinance.

The new library would be built by issuing bonds that can be financed by the issuance of library capital improvement bonds, according to the ordinance,

The city would have the authority to issue the bonds through state laws passed more than 20 years ago.

“The city can pay the principal of and interest on the bonds from the proceeds of an ad valorem tax of not to exceed 1.3 mills on the dollar of the assessed value of taxable real and personal property tax in the city,” states the ordinance.

In November, voters will see the following language on the ballot initiative: Proposed public city library capital improvements. Authorization of bonds for the Sherwood Public City Library Capital Improvements project, to finance the acquisition, construction and equipping of land and additional capital improvements, and approval to pledge receipts from an ad valorem tax on 1.3 mills for payment thereof.

Voters will have the option of voting either for or against the proposed tax by placing an “X” in the square opposite the measure either for or against.

Both the city of Sherwood and the Central Arkansas Library System, according to the ordinance, would own the new library.

A copy of the approved ordinance is to be filed with the Pulaski County Clerk no later than Sept. 4 and is to be given to the Pulaski County Board of Election Commissioners so that the necessary election officials and supplies may be provided.

Alderman Tim McMinn said he supported putting the issue on the general election ballot because it will give more city voters a chance to cast their ballots in November than during a special election that generally attracts fewer voters.

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