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HomeMy WebLinkAboutITEM V-A T CITY OF : * ~ AGENDA BILL APPROVAL FORM --~`WASH WGTON . Agenda Subject:.- Date: Ordinance No. 6347 Janua 3, 2011 - Departrnent: . Attachments: Budget impact: $250,000.00 , Finance Ordinance No. 6347 a ear for 25 ears Administrative Recommendation:. ° City Councii introduce and adopt Ordinance No. 6347. . : Background Summary: . Ordinance No. 8347 levies the .021%, sales tax.credit against the state sales tax for local;revitalization. y financing. SB 5045 authoriiing the fax credit•was passed by tFie'stia`te legislafure during1he 2009 regular session: The intent.of the legislation was to provide financial assistance to Cities to assist with financing public improvements in an identified rev'italization area to promote community and economic developmenf. = The City applied for the use of local revitalization financing on August 11, 2009 and the Department of Revenue approved the application, on September 16, 2009 granting the project award of $250,000.00. The tax c7redit is available fo the City for up to 25 years. This isthe second year that the Gity has asked . the State for the tax credit. Reviewed by Council & Committees_: ReViewed by Departments 8 Divisions: ❑ Arts Commission COUNCIL COMMITTEES: ❑ Bu'ild'ing ❑ M&O • ' ❑ Airport 0 Finance ❑ Cemefery ❑ Mayor ❑ Hearing;Examiner ❑ Muniapal Serv.. . ❑ Finance ❑ Parks ❑ Human 8ervices 0 Planning & CD ❑ Fite ❑ Planning ❑ Park Board ❑Public Works 0 Legal p Polite ❑ Planning Comm. ❑ Other. Cl Public Works ❑ Human Resources ❑ Information.Services Actlon: ' Committee ApproyaL• . ❑Yes ❑No , Coundl Approval`. ❑Yes ❑No Call for Public Hearing Referred to - Until Tabled `-Until Councilmember: Norman Staff: Coleman Meetin Date: Januai 24, 2011 Item Number. - \ AU$URN * MQRE THAN YOU _IMAGINED , . -i . . . . . ORDINANCE NO. 6 3 4 7 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF AUBURN, WASHINGTON, ESTABLISHING THE LOCAL SALES AND USE :TAX RATE FOR LOCAL REVITALIZATION . ' FINANCING FOR2011 WHEREAS, The City of Auburn ("City") enacted Ordinance. 6301 on April 19, 2010, which established a local sales-,and use tax as provided.for in Section 39:14.510 of the Revised Code of Washington ("RCW"); and, WHEREQS, t~iis tax is imposed :in order'.to pay the debt service on Local Revifalization Financing bonds in accordance with Chapter 39:14 RCW;. and, , VIIHEREAS; Chapter 39.14 RCW provides that the City shal), from time to time, adjust the tax rate so that it is set at the rate reasonably necessary to ' receive the state contribution over 40 months, in accordance with RCW 82.14.510(3); NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF AUBURN, ~ ' WASHINGTON, DO ORDAIN as follows Section 1. The sales and use tax rate established in Section 3.2 of . Ordinance 6301 is hereby amended to :021 % beginning July 1, 2011. - Section 2. Implementation. The Mayor is hereby authorized to implement such administrative procedures as may be necessary to carry out the. directions of this legislation. : Section 3. -Severability. The provisions of this ordinance.are declared to be separate and severable. The invalidity of any clause, sentence, paragraph, subdivision, section or portion of this ordinance, or the invalidity of the application - thereof to any person or circumstance shall not affect the validity of the remainder of this ordinance, or the validity of its application to other persons or. circumstances. Ordinance No. 6347 January 24, 2011 - Page 1 of 2 Section 4. Effective date. This Ortlinance shall take. effect and be in , force five days.from and'afte'r its passage, approval and publication as pr.ovided by law. ` INTRODUCED: PASSED: . APPROVED: PETER B. LEWIS, MAYOR ATTEST: Danielle E:. Daskam, City Clerk APPROVED AS TO FORM: Daniel B. Heid, City Attorney Published: - Ordinance No. 6347 January 24; 2011 Page 2 of 2