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Home My WebLink About5108 � i , � 1 � � ORDINANCE NO. 5 l o� AN ORDINANCE of the City of Bremerton, Washington, imposing the local sales and use ta�� to be credited against the state sales and use tax for purposes of 'utilizing Local Revitalization Financing under chapter 39.104 RCW and providing for other matters properly relating thereto. TF� CITY COUNCIL OF TI� CITY OF BREMERTON, WASHIl�iGTON (THE "CITY") DOES ORDAIN as follows: Section l. Definitions. Certain capitalized terms not otherwise defined in this ordinance have the meanings given in RCW 39.104.020. Section 2. Findings. The City Council of the City hereby makes the following findings and deternunations: 2.1 Chapter 39.104 RCW and RCW 82.14.505 and 82.14.510 autharize the imposition of a local sales and use tax (the "LRF Tax") for the purpose of financing certain public improvements located within a Revitalization Area ("RA"), upon the satisfaction of certain conditions set forth therein. This local sales and use ta�� is credited against the sales and use tax otherwise due to the State under chapters 82.08 and 82.12, resulting in no net change in tax rate to the taa�payer. 2.2 Pursuant to this authority, the City, by Ordinance No. 5088, passed on August 19, 2009 (the "RA Ordinance"), previously created the Bremerton Harborside Revitalization Area, for the purpose of financing public improvements located within the RA, which are set forth in the RA Ordinance. 2.3 The City submitted its application for the use of Local Revitalization Financing pursuant to RCW 39.104.100 and 82.14.505 on August 25, 2009, and the Department of Revenue (the "Department") approved such application on September 16, 2009, ganting a project award in the amount of $330,000. 2.4 The City Cauncil finds that the City has satisfied a11 prerequisites to imposing the LRF Tax and receiving the Sta.te Contributioq including without limitation, the conditions set forth in chapter 39.104, RCW 82.32.765, 82.14.505, 82.14.510 and 82.14.515. 2.5 Prior to July 1, 2010, the City intends to incur general indebtedness, and to issue bonds, pursuant to RCW 39.104.110 in a m�imum principal amount not to excced $7,950,000 to finance the public improvements. The City further intends to retire such indebtedness in whole or in part from Loca1 Revitalization Financing it receives. ' Section 3. State-Shared Sales and Use Taz Imposed as of July 1, 2010. The sales and use t� authorized under RCW 82.14.510 is imposed as of July 1, 2010, as follows: 3.1 Effective Date and Duration. The sales and use taac authorized by this ordinance shall be imposed and become effective as of July 1, 2010. The taa� imposed under this ordinance , e�ires the earlier of the date that the bonds issued under the authority of RCW 39.104.110 are retired or duly l, 2035, the date that is 25 years after the tax is first imposed. 32 Rate. The tax rate shall initially be set at 0.051% of the selling price (in the case of a sales t�) or value of the article used (in the case of a use tax). The t� rate may be adjusted by ordinance of the City Council from time to time so tha.t it is set at the rate reasonably necessary to receive the State Contribution over 10 months, in accordance with RCW 82.14.510(3). � 3.3 Use of LRF Tax Receipts. In accordance with RCW 82.14.515, r�eipts of the LRF Tax sha11 be applied to provide for the payment of debt service on bonds issued under RCW 39.104.110. 3.4 Other Statuto ,ry Requirements. (1) In accordance with RCW 82.14.510(6): (a) The LRF T� authorized by this ordinance sha11 first be imposed on July l, 2010, which is the first day of a State fiscal year. (b) The cumulative amQUnt of LRF T� distributions received by the City in any . fiscal year shall not exceed the amount ofthe State Contribution to the City. (c) The LRF T� shall cea.se to be distributed to the City for the remainder of any State fiscal year in which: (i) The amount of tax received by the City equals the amount of the State � Contribution; or (ii) The amount of revenue distributions to all Sponsoring and Cosponsoring Local Governments from taxes imposed under RCW 82.14.510 equals the Annual State Contribution Limit. (2) The LRF Tax shall be distributed again, should it cease to be distributed for any of the reasons provided in RCW 82.14.510(6xc), at the beginning of the next State fiscal year, subject to the restrictions in RCW 82.14.510. (3) Any revenue generated by the LRF Tax in excess of the amounts specified in (1)(c) of this subsection 3.4 shall belong to the State of Washington. (4) In accordance with RCW 82.14.510(9), if the City fails to comply with RCW 82.32.765, no t� will be distributed in the subsequent fiscal year until such time as the City complies and the department calculates the State Contribution amount for such fiscal year in accordance with RCW 82.14.510(10). Section 4. Delivery of Ordinance. The City Clerk is directed to cause a certified copy of this ordinance to be delivered to the State of Washington Department af Revenue and any other public officers or agencies required by law. Section 5. Ratification. All actions heretofore taken in furtherance thereof and not inconsistent with the provisions of this ordinance are hereby ratified and confirmed in a11 respects. a i Section 5. Ratification. All actions heretofore taken in furtherance thereof and not inconsistent with the provisions of this ordinance are hereby ratified and confirmed in all respects. Section 6. Validity. If any provision of this ordinance shall be declared by any court of competent jurisdiction to be invalid, then such provision sha11 be null and void and shall be separable from the remaining provisions of this ordinance and sha11 in no way affect the validity of the other provisions of this ordinance, of any bonds issued in anticipation of receipt of distributions from LRF Taxes or of the use of Local Revitalization Financing to finance the public improvements. � Section 7. Effective Date. This ordinance shall become effective ten days after its passage and publication as required by law. � PASSED by the City Council the �� day of , 2010 t � .,�� t � WOFF , Council President � Approved this �� day of , 2010 � PATTY L , Mayor ATTEST: APPROVED AS TO FORM: ; � , � �� 5 . CAROL" GE , City lerk Foster epper PLLC, as Bond Counsel PUBLISHED the C7�lL°� day of 2010 . EFFECTIVE the�day of , 2010 ORDINANCE NO. �/OY , � ! 51058298 4 i I � � I CERTIFICATION I, the undersigned, City Clerk of the City of Bremerton, Washington (the "Cit}�'), hereby certify as follows: 1. The attached copy of Ordinance No. ��(the "Ordinance") is a full, true and correct copy of an ordinance duly passed at a regular meeting of the City Council of the City held at the regular meeting place thereof on Apri121, 2010, as that ordinance appears on the minute book of the City; and the Ordinance will be in full force and effect five days after publication in the City's official newspaper; and 2. A quorum of the members of the City Council was present throughout the meeting and a majority of those members present voted in the proper manner for the passage of the Ordinance. . IN WITNESS WHEREOF, I have hereunto set my hand this day of , 2010. ' CITY OF BREMERTON, WASHINGTON C o Etge , City Cler 51058?98 3 . �i 1 AFFIDAVIT OF PUBLICATION Account #42742 AD#260102 STATE OF WASHINGTON � COUNTY OF KITSAP I, Laura Wessels, being first duly sworn on oath, deposes and says: That she is now, and at all times embraced in the publication herein mentioned was the principal clerk of the printers and publishers of KITSAP SL1N; that said newspaper has been approved as a legal newspaper by order of the Superior Court of the County of Kitsap, in which County it is published and is now and has been for more than six months prior to the date of the publication hereinafter referred to, published in the English language continually as a daily newspaper in Bremerton, Kitsap County, Washington, a weekly newspaper in Kitsap County, Washington and is now and during all of said time, was printed in an office maintained in the aforesaid place of publication of said newspaper; that the following is a true text of an advertisement as it was published in regular issues (and not in supplement form) of said newspaper on the following date, to wit: A April 26, 2010 that such newspaper was regularly distributed to its subscribers during all of said period. The full amount of the fee charged for the foregoing publication is the sum of $39.86. This amount has not been paid in full. (Signature of Principal Clerk) Subscribed and sworn to before me this day of April 30, 2010. �:�� Notary Public in and for the State of Washington, Kitsap Co ty. CASSANDRA A CAPAS Notary Public State of Washington ORDINANCEN0.5108 My Commission Expires February 04, 2014 AN ORDINANCE of the City of Bremerton, Washington, imposing t e oca sa es an us credited against the state sales and use tax for purposes of utilizing Local Revitalization Financing under � chapter 39.104 RCW and providing for other matters properly relating thereto. PASSED by the City Council of the 21 st day of April, 2010 The full text of this ordinance is available from the City Clerk's Office, 345 Sixth Street, Suite 600, Bremerton, WA 98337. Apri126, 2010 ............................Ad#20099958