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FY2011-02 Sales Tax October 2010 Election Introduced by: Borough Assembly 1 Requested by: Borough Assembly 2 Drafted by: Finance Director Introduced: 07/15/2010 3 Public Hearing: 08/05/2010 4 Failed: 08/05/2010 5 6 KODIAK ISLAND BOROUGH 7 ORDINANCE NO. FY2011 -02 8 9 AN ORDINANCE OF THE ASSEMBLY OF THE KODIAK ISLAND BOROUGH 10 SUBMITTING THE QUESTION OF THE ADOPTION OF A SALES TAX 11 TO THE QUALIFIED VOTERS OF THE BOROUGHKAT*THE 12 OCTOBER 5, 2010 REGULAR ELECTION 13 14 WHEREAS, in the October 5, 2009 general election, aters of the Kodiak Island 15 Borough approved a $76,310,000 bond issue to Inance tplanning, design, and 16 construction of school and related capital improveme fit projects and' 17 18 WHEREAS, when these bonds are sold, the " 4 oulcdiiak Island,Boroug 'must increase its 19 revenues to make the principal and interest payments(on these bonds; ant 20 '' 21 WHEREAS, the Assembly desires to' implement tax measures hich will generate the 22 additional revenue needed to finance education and debt et cement in a way that spreads 23 the tax burden across the entire populr4instead of justson the property owners. 24 25 NOW, THEREFORE, BE ILO DAINED MTHE ASS M BLY OF THE KODIAK ISLAND 26 BOROUGH THAT: 27 28 Section 1: This ordinance is of a get eral and permanent nature and shall become a part 29 of the'K,odiak Island Boroug ?Gode of Ordinances; 30 31 Section 2: It is the mjent df the.Kodiak• sland Borough Assembly that the Kodiak Island 32 Borough ado is ales t a�z powers as follows: 33 2' 34 • The sales tax shall be an amount of up to two percent (2 %). 35 36 1 :- _ • This will bg Borough wide tax and will be in addition to any sales taxes 37 imposed by cities within the Borough. 38 39 • Thitax will only be used to finance education and debt retirement. 40 41 • The Kodiak Island Borough Assembly is empowered to enact such 42 ordinances as necessary to implement and administer the collection of 43 the tax. 44 45 • This tax amount may not be increased without further voter approval. 46 47 48 49 Kodiak Island Borough Ordinance No. FY2011 -02 Page 1 of 2 50 51 Section 3: The Borough shall submit the following proposition to the qualified voters of 52 the Borough at the October 5, 2010 regular Borough election. The proposition 53 must receive an affirmative vote from a majority of the qualified voters voting 54 on the question to be approved. 55 56 Proposition No. 1 57 Sales Tax 58 59 Shall the Kodiak Island Borough adopt sales tax powers and levy a sales tax 60 of up to two percent (2 %) of sales, rents, and se irve es,provided in the 61 Borough? `rfJc. 62 C YES < ) NO 63 64 d if "-\ \ 66 THIS DAY OF k- kfir " 2 10 67 68 1, 69 if KODIAK- ISLAND BOROUGH 70 i ff y 71 i . 72 r:„ 73 e Joromo M. Solby, Borough Mayor 74 �61� 75 ATTEST: H_. 76 77 78 '' } 79 • - - „ _ __ _ i �.y k Kodiak Island Borough Ordinance No. FY2011 -02 Page 2 of 2