HomeMy WebLinkAbout04/21/2010 7A DATE SUBMITTED: Mazch 30, 2010
AGENDA BILL
CITY QF BREMERTON
CITY COUNCIL
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SUBJECT: Ordinance Imposing Local Committee Meeting Date: April 14, 2010
Sales and Use Tax for Utilizing Local COUNCIL MEETING Date: April 21, 2010
Revitalizing Financing for Park Plaza Project Department: Financial Services
Presenter: Barbara Stephenson
Phone: 360.473.5722
SUMMAI2Y: RCW Chapters 39.104, 82.14.505 and 82.14.510 authorize the imposition of local
sales and use tax for the purpose of financing improvements within a designated Revitalization Area.
The local sales and use tax is credited against the sales and use tax otherwise due to the State,
resulting in no net change in tax to the t�payer.
The City has satisfied all prerequisites to imposing the tax and therefore prior to July 1, 2010, the City
-� intends to incur general indebtedness and to issue bonds to finance the public improvements. The
City will retire such indebtedness in whole or in part from the Local Revitalization Financing it
receives.
The sales and use tax authorized by this ordinance shall be imposed and become effective as of July l,
2010.
ATTACHIV�NTS: Ordinance No. � I ��
FISCAL IMPACTS (Include Budgeted Amount}: None
APPItOVALS:
DEPARTMENT DIRECTOR:
CITY ATTORNEY:
FINANCE DIRECTOR: ---
MAYOR:
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COMNIITTEE CHAIR 1���--.� C'� '� � -
COUNCIL PRESIDENT: CONSENT AGENDA ❑
GENERAL BUSINESS�
PUBLIC HEARING ❑
RECOMMENDED MOTION: Move to pass Ordinance No. 5 � � t7 imposing the local sa.les
and use tax to be credited against the State sales and use tax for purposes of utilizing Local
Revitalization Financing.
COUNCIL ACTION: [�] Approve ❑ Deny ❑ Table ❑ Continue
❑ No Action