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Introduced by: Borough Assembly <br /> 1 Requested by: Borough Assembly <br /> 2 Drafted by: Finance Director <br /> Introduced: 07/15/2010 <br /> 3 <br /> Public Hearing: 08/05/2010 <br /> 4 Failed: 08/05/2010 <br /> 5 <br /> 6 KODIAK ISLAND BOROUGH <br /> 7 ORDINANCE NO. FY2011 -02 <br /> 8 <br /> 9 AN ORDINANCE OF THE ASSEMBLY OF THE KODIAK ISLAND BOROUGH <br /> 10 SUBMITTING THE QUESTION OF THE ADOPTION OF A SALES TAX <br /> 11 TO THE QUALIFIED VOTERS OF THE BOROUGHKAT*THE <br /> 12 OCTOBER 5, 2010 REGULAR ELECTION <br /> 13 <br /> 14 WHEREAS, in the October 5, 2009 general election, aters of the Kodiak Island <br /> 15 Borough approved a $76,310,000 bond issue to Inance tplanning, design, and <br /> 16 construction of school and related capital improveme fit projects and' <br /> 17 <br /> 18 WHEREAS, when these bonds are sold, the " 4 oulcdiiak Island,Boroug 'must increase its <br /> 19 revenues to make the principal and interest payments(on these bonds; ant <br /> 20 '' <br /> 21 WHEREAS, the Assembly desires to' implement tax measures hich will generate the <br /> 22 additional revenue needed to finance education and debt et cement in a way that spreads <br /> 23 the tax burden across the entire populr4instead of justson the property owners. <br /> 24 <br /> 25 NOW, THEREFORE, BE ILO DAINED MTHE ASS M BLY OF THE KODIAK ISLAND <br /> 26 BOROUGH THAT: <br /> 27 <br /> 28 Section 1: This ordinance is of a get eral and permanent nature and shall become a part <br /> 29 of the'K,odiak Island Boroug ?Gode of Ordinances; <br /> 30 <br /> 31 Section 2: It is the mjent df the.Kodiak• sland Borough Assembly that the Kodiak Island <br /> 32 Borough ado is ales t a�z powers as follows: <br /> 33 2' <br /> 34 • The sales tax shall be an amount of up to two percent (2 %). <br /> 35 <br /> 36 1 :- _ • This will bg Borough wide tax and will be in addition to any sales taxes <br /> 37 imposed by cities within the Borough. <br /> 38 <br /> 39 • Thitax will only be used to finance education and debt retirement. <br /> 40 <br /> 41 • The Kodiak Island Borough Assembly is empowered to enact such <br /> 42 ordinances as necessary to implement and administer the collection of <br /> 43 the tax. <br /> 44 <br /> 45 • This tax amount may not be increased without further voter approval. <br /> 46 <br /> 47 <br /> 48 <br /> 49 <br /> Kodiak Island Borough Ordinance No. FY2011 -02 <br /> Page 1 of 2 <br />