ORDINANCE 1986

AN ORDINANCE PROVIDING FOR AND ADOPTING BUDGETS FOR THE CITY OF EUREKA SPRINGS, ARKANSAS FOR THE TWELVE MONTH PERIOD BEGINNING JANUARY 1, 2005, AND ENDING DECEMBER 31, 2005; APPROPRIATING MONEY FOR EACH AND EVERY ITEM OF EXPENDITURE THEREIN PROVIDED FOR; DECLARING AN EMERGENCY TO EXIST; AND FOR OTHER PURPOSES.

WHEREAS, The City Council of the City of Eureka Springs, Arkansas, has made a comprehensive study and review ofthe proposed budgets; and

WHEREAS, in the opinion of the City Council, the proposed 2005 Budgets present as accurately as possible the City's anticipated revenues and expenditures for the 2005 calendar year; and

NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF EUREKA SPRINGS, ARKANSAS, THAT:

Section 1. This Ordinance shall be known as the Budget Ordinance for the City of Eureka Springs, Arkansas, for the twelve-month period beginning January 1, 2005, and ending December 31, 2005; and the attached budget documents present the estimated revenues and expenditures for the period. All revenues and appropriations are estimated; all appropriations are based on estimated revenues; and all estimates are subject to change during the budgetary period.

Section 2. The amount for each expenditure classification proposed in the 2005 City Budgets are hereby approved by the City Council of the City of Eureka Springs, Arkansas; and they are hereby authorized and appropriated for the purposes set forth for the calendar year ending December 31, 2005. The appropriation for General Fund is $1,999,950.00 and the appropriation for General Fund Capital is $872,000.00.

Section 3. Repeal Clause: All Ordinances, Resolutions, and parts thereof, in conflict herewith are hereby repealed to the extent of such conflict.

Section 4. Emergency Clause: Since planned, approved budgets are necessary for the efficient operations of Municipal Government beginning January 1,2005, an emergency is hereby declared to exist; and since approval of the 2005 Budget is necessary for the preservation of public peace, health, and safety and the continuance of public services, this Ordinance shall take effect and be in force from and after its passage and approval. PASSED AND ORDAINED BY THE CITY COUNCIL OF THE CITY OF EUREKA SPRINGS, ARKANSAS, ON THIS 28th OF JANUARY, 2005.

ATTEST APPROVED