PARK AND RECREATIONAL IMPROVEMENT BONDS AND 1% SALES AND USE TAX
An issue of bonds of the City of Springdale in the maximum aggregate principal amount of $21,320,000 for the purpose of financing all or a portion of the costs of new, and improvements to existing, park and recreational facilities and improvements including trails and any necessary land acquisition, equipment and parking, drainage, lighting and utility improvements therefor, professional fees related to any of the foregoing, the establishment of reserves, and bond issuance and any credit enhancement costs, and, in order to pay the bonds, the levy and pledge of a new 1% local sales and use tax within the City that will expire after the bonds have been paid or provision is made therefor in accordance with Arkansas statutes.
We plan to build a beautiful 120-acre park in northwest Springdale called the Shaw Family Park. There are also improvements needed for some of the older parks in Springdale, such as the Randall Tyson Recreational Complex (Tyson Park). Springdale parks are a heavily used and valuable asset in Springdale. Regardless of where you live in Springdale, we want you to have access to a park for you and your family to enjoy. This ballot measure will also help pay for additional trail development in Springdale.
Note: The "1% Sales and Use Tax" at the end of each ballot item is not a tax increase. It is an authorization to continue the current 1% sales and use tax that was levied in 2003 and continued in 2006 as approved by Springdale voters.