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• Introduced by: Borough Assembly <br /> 1 Requested by: Borough Assembly <br /> 2 Drafted by: Finance Director <br /> Introduced: 06/16/2011 <br /> 3 <br /> Amended: 07/21/2011 <br /> 4 Public Hearing: 07/21/2011 <br /> 5 Adopted: 07/21/2011 <br /> 6 <br /> 7 KODIAK ISLAND BOROUGH <br /> 8 ORDINANCE NO. FY2012 -02 <br /> 9 <br /> 10 AN ORDINANCE OF THE ASSEMBLY OF THE KODIAK ISLAND BOROUGH <br /> 11 SUBMITTING THE QUESTION OF THE ADOPTION OF A SALES TAX <br /> 12 TO THE QUALIFIED VOTERS OF THE BOROUGH AT THE <br /> 13 OCTOBER 4, 2011 REGULAR ELECTION <br /> 14 <br /> 15 WHEREAS, in the October 6, 2009 general election, the voters of the Kodiak Island <br /> 16 Borough approved a $76,310,000 bond issue to finance the planning, design, and <br /> 17 construction of school and related capital improvement projects; and <br /> 18 <br /> 19 WHEREAS, when these bonds are sold, the Kodiak Island Borough must increase its <br /> 20 revenues to make the principal and interest payments due on these bonds; and <br /> 21 <br /> 22 WHEREAS, the Assembly desires to implement tax measures which will generate <br /> 23 additional revenues needed to finance education and debt retirement in a way that spreads <br /> 24 the tax burden across the general public instead of just on the property owners; and <br /> 25 <br /> 26 WHEREAS, a new sales tax or an increase in the rate of levy of a sales tax approved by <br /> 27 ordinance does not take effect until ratified by a majority of the voters at an election (AS <br /> 28 29.45.670). <br /> 29 <br /> 30 NOW, THEREFORE, BE IT ORDAINED BY THE ASSEMBLY OF THE KODIAK ISLAND <br /> 31 BOROUGH THAT: <br /> 32 <br /> 33 Section 1: This ordinance is a non -Code ordinance and shall not become a part of the <br /> 34 Kodiak Island Borough Code of Ordinances; <br /> 35 <br /> 36 Section 2: It is the intent of the Kodiak Island Borough Assembly that the Kodiak Island <br /> 37 Borough levy, assess and collect sales tax as follows: <br /> 38 • The sales tax shall be levied, assessed and collected on sales, services <br /> 39 and rentals in the Kodiak Island Borough on a year round basis. <br /> 40 • The sales tax shall be an amount not to exceed one percent (1 %). <br /> 41 • This will be a Borough -wide sales tax and will be in addition to any sales <br /> 42 taxes imposed by cities within the Borough. <br /> 43 • This sales tax will only be used to pay principal and interest on bonds <br /> 44 issued by the Kodiak Island Borough to finance costs of planning, <br /> 45 designing and constructing school and related capital improvements in <br /> 46 the Borough, including without limitation the reconstruction and <br /> 47 renovation of the Kodiak High School, approved by the voters at the <br /> 48 regular Borough election held on October 6, 2009 as Proposition No. 1 <br /> 49 (the "2009 Proposition "). <br /> Kodiak Island Borough Ordinance No. FY2012 -02 <br /> Page 1 of 2 <br />