Proposition 1 - Special Election on County Sales and Use Tax Levy and Bond Issuance

There is submitted to the qualified electors of Craighead County, Arkansas, the question of the issuance of capital improvement bonds in principal amount not to exceed $105,000,000 (the "Bonds") pursuant to Amendment 62 to the Constitution of the State of Arkansas ("Amendment 62") and Title 14, Chapter 164, Subchapter 3 of the Arkansas Code of 1987 Annotated (the "Local Government Bond Act") for the purpose of financing all or a portion of the costs of acquisition, design, engineering, construction, reconstruction, repair, renovation and equipping of improvements to the County's jail, public safety, law enforcement and court facilities, including particularly, renovations to and expansion of the Craighead County Detention Center, and utility, parking and landscaping improvements related thereto or in support thereof. If the issuance of the Bonds is approved, the Bonds will be secured by a pledge of and lien upon all of the receipts of the Sales and Use tax described above.