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1997-01- Ballot Measure re Allowable Tax RevenuesKODIAK ISLAND BOROUGH INITIATIVE ORDINANCE NO. 1 AN ORDINANCE INITIATING A BALLOT MEASURE FOR THE OCTOBER 7, 1997 REGULAR MUNICIPAL ELECTION WHICH, IF PASSED BY THE VOTERS, AMENDS TITLE 3 OF THE KODIAK ISLAND BOROUGH CODE OF ORDINANCES TO ESTABLISH MAXIMUM ALLOWABLE TAX REVENUES LEVIED UPON REAL AND PERSONAL PROPERTY WITHIN THE BOUNDARIES OF THE KODIAK ISLAND BOROUGH WHEREAS, Alaska Statutes 29.35.170 provides that a borough shall assess and collect property, sales and use taxes that are levied in its boundaries, subject to AS 29.45; and WHEREAS, the voters recognize the Kodiak Island Borough assembly's authority to set the levy collected on real and personal property taxes; and WHEREAS, the voters feel previous new taxes and tax increases passed by the assembly have only a small, select portion of vocal or written support; and WHEREAS, the voters of the Kodiak Island Borough have increasingly felt their elected assembly members are not listening to their opposition to taxes and other matters that come before the assembly; NOW, THEREFORE, BE IT ORDAINED BY THE QUALIFIED REGISTERED VOTERS OF THE KODIAK ISLAND BOROUGH THAT: Section 1: This ordinance is of a special nature. Section 2: The following ballot measure shall be submitted to the qualified voters of the Kodiak Island Borough at the October 7, 1997 Regular Municipal Election: "Shall Title 3 of the Kodiak Island Borough Code of Ordinances be amended to establish maximum allowable tax revenues levied upon real and personal property within the boundaries of the Kodiak Island Borough ?" A "yes" vote means: The new sections of the code "Maximum Allowable Tax Revenues" will be adopted, become law and unable to be modified or negated for a period of two years. Yes A "no" vote means: The maximum allowable tax revenues will be defeated. No Kodiak Island Borough, Alaska Ordinance No. 97 - -1 -I Page 1 of 2 Section 3: If the question submitted to the voters passes, the assembly of the Kodiak Island Borough is empowered to enact such ordinances as necessary to establish maximum allowable tax revenues levied upon real and personal property within the boundaries of the Kodiak Island Borough for one fiscal year as was levied for the preceding year. Exceptions: The amount of taxes levied or imposed can increase (a) to adjust for inflation; (b) to take into account new buildings and land coming onto the tax roll; (c) make new payments on bonds; (d) pay for new legal judgments entered against the borough; (e) pay for expenses in emergencies. Section 4: If the question submitted to the voters passes, the effect or this initiative ordinance may not be modified or negated within two years after its effective date. Section 5: This ordinance shall become effective upon certification of the election. THIS INITIATIVE WILL TAKE EFFECT UPON CERTIFICATION OF THE ELECTION RESULTS ON THIS INITIATIVE ADOPTED BY THE REGISTERED VOTERS OF THE KODIAK ISLAND BOROUGH THIS SEVENTH DAY OF OCTOBER, 1997 ATTEST: Donna F. Smith, CMC /AAE, Borough Clerk Kodiak Island Borough, Alaska Ordinance No. 97 - -1 -I Page 2 of 2