HomeMy WebLinkAboutITEM IV-C
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AGENDA BILL APPROVAL FORD
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Agenda Subject: Date:
Ordinance No. 6347 January 3, 2011
Department: Attachments: Budget Impact: $250,000.00
d Finance Ordinance No. 6347 a year for 25 ears
1. "Administrative Recommendation:.
City Council introduce and adopt Ordinance No. 6347.
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Background Summary:
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' Ordinance No. 6347 levies the .021 % sales tax credit against the state sales tax for local revitalization
financing. SB 5045 authorizing the tax credit was passed. by the state legislature during the 2009 regular
session. The intent of the legislation was to provide financialassistance to Cities to assist with financing
public improvements in an identified revitalization area to promote community and economic
j development.
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.
p; The tax credit is available to the City for up to 25 years. This is the second year that the City has asked
i the State for the tax credit.
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r Reviewed by Council,& Committees: Reviewed by Departments & Divisions:
F1 Arts Commission COUNCIL COMMITTEES: ❑ Building ❑ M&O
[I Airport ® Finance Cemetery F1 Mayor
❑ Hearing Examiner ❑ Municipal Serv. ❑ Finance ❑ Parks
❑ Human Services ® Planning.& CD ❑ Fire ❑ Planning
171 Park Board []Public Works El Legal El Police
❑ Planning Comm. ❑ Other Public Works ❑ Human Resources
[I Information Services
Action:
p Committee Approval: []Yes ❑No
{ Council Approval: []Yes [:]No Call for Public Hearing
Referred to Until
Tabled Until
Councilmember: Backus Staff: Coleman
Meetin `Date: February 7, 2011 Item Number:
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4 ORDINANCE NO. 6 3 4 7
1.
i AN ORDINANCE OF THE CITY COUNCIL OF THE
CITY OF AUBURN, WASHINGTON, ESTABLISHING
THE LOCAL SALES AND USE TAX RATE FOR
LOCAL REVITALIZATION FINANCING FOR 2011
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
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;a 39.14.510 of the Revised Code of Washington ("RCW"); and
t WHEREAS, this tax is imposed in order to pay the debt service on Local
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Revitalization Financing bonds in accordance with Chapter 39.14 RCW; and
WHEREAS, Chapter 39.14 RCW provides that the City shall, from time to
it time, adjust the tax rate so that it is set at the rate reasonably necessary to
receive the state contribution over 10 months, in accordance with RCW
a, ! 82.14.510(3).
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF AUBURN,
`i.. ! WASHINGTON,-DO ORDAIN as follows`
{ Section 1. Purpose. The sales and use tax rate established in Section
3.2 of Ordinance 6301 is hereby amended to .021 % beginning July 1, 2011.
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Section 2. Implementation. The Mayor is hereby authorized to
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implement such administrative procedures as may be necessary to carry out the
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directions of this legislation.
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Section 3. Severability. The provisions of this ordinance are declared
to be separate and severable. The invalidity of any clause, sentence, paragraph,
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subdivision, section or portion of this ordinance, or the invalidity of the application
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is
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Ordinance No. 6347
December 29, 2010
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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.
Section 4. Effective date. This Ordinance shall take effect and be in
force five days from and after its passage, approval and publication as provided
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
December 29, 2010
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