Agenda Package - 02-18-08 (Finance)

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\._J ~f 11 RESOLUTION BY THE LEE COUNTY BOARD OF COMMIS PI NERS STATING THE INTENDED USES OF THE 2007 114 -CENT SALES TAX REVENUE IF THE ADVISORY REFERENDUM FOR THE LEVY OF A LOCAL TAX PASSES BY MAJORITY VOTE WHEREAS, the 2007 State Appropriations Act (H1473) amended Chapter 105 of the North Carolina General Statutes 105-601 through 604 and 105-535 through 538) which provides counties with the authority to levy a local sales and use tax at a rate of one-quarter percent (0.25%); and WHEREAS, the above referenced statute amendments further provide that prior to the adoption by the County Commissioners of a resolution that would levy a local sales tax, there must first be conducted a special election advisory referendum whereby the County voters would have the opportunity to vote for or against the levy of the above referenced local tax by the County Commissioners; furthermore, the County Commissioners could not levy a local sales tax unless a majority of those citizens voting in the special election vote for the levy of said tax, and WHEREAS, the Lee County Board of Commissioners have taken public comments on the proposed tax at their January 21, 2008 and February 4, 2008 regular meetings, at which time the Board of Commissioners heard overwhelming support for the %-cent sales tax and support for Educational Capital Projects, and WHEREAS, the Lee County Finance Committee and Lee County Board of Commissioners have reviewed the issue and public comments and determined the levy of such a sales tax is in the best interest of the Lee County Government and its citizens, and WHEREAS, that after careful deliberation at their February 18, 2008 regular meeting, a motion was duly made and seconded and passed by a _ to _ vote by Board members to request that the Lee County Board of Elections conduct a special election advisory referendum in Lee County on Tuesday, May 6, 2008, on the question of whether to levy a local sales tax in Lee County. NOW, THEREFORE, BE IT RESOLVED by the Lee County Board of Commissioners that it is the intent of the Commissioners to use the revenue from the 2007 '/-cent sales tax, if successful, for the following_ 1- Debt Service on the financing of capita rojects for the Lee County Board of Education to include renovations at e County Senior High School; 2. Debt Service on the fina ng of capital projects for Central Carolina Community college to inc de a new General Classroom Facility, and 3. Debt Service on er capital projects listed in the County's 2008-2013 Capital Improve ent Plan (CIP). u