(1) Any incorporated town of the State of Arkansas which, at any future federal census, or any census taken under the authority of the State of Arkansas, shall be found to have a population exceeding five hundred (500) persons who shall be inhabitants of the town and less than two thousand five hundred (2,500) inhabitants shall be deemed in all respects to be a city of the second class. However, this section shall not apply to cities that are now classified as cities of the first class.
(2) In all counties having two (2) levying courts, in which there is a county seat town of less than five hundred (500) population, according to the last federal census, the county seat towns are made cities of the second class, with all the powers and privileges conferred upon cities of the second class by law.
(3) Any of the towns described in subdivision (b)(1) of this section, through the governing body thereof, shall have the power, by ordinance, to annex to the city or town all heretofore platted additions thereto, so as to make them a part of the city and included within its boundaries and subject to all the rights, duties, and privileges of the original territory of the city.