Laserfiche WebLink
BOOK -42 PAGE 25 <br />RESOLUTION OF THE <br />SANFORD AREA HOME BUILDERS ASSOCIATION <br />SUPPORTING AN INCREASE IN THE LOCAL SALES AND USE TAX <br />FOR PUBLIC EDUCATION IN LEE COUNTY <br />WHEREAS, Lee County was authorized by act of the North Carolina General <br />Assembly to place before the voters of the County a referendum for <br />approval of a local option sales and use tax of one-quarter percent <br />(0.25%) in addition to all other sales and use taxes currently levied <br />and/or a four-tenths of one percent (0.4%) real property transfer <br />tax; and <br />WHEREAS, The Lee County Board of Commissioners estimates that the <br />additional sales and use tax will fund a debt capacity of thirty-eight <br />million dollars ($38 million) compared to a debt capacity of only <br />twenty-five million ($25 million) from the land-transfer tax; and <br />WHEREAS, The sales and use tax is a fair and predictable source of additional <br />revenue that avoids placing the burden for education funding on <br />just one segment of society; and <br />WHEREAS, The urgency and necessity of additional school funding in Lee <br />County has been well established. <br />NOW THEREFORE BE IT RESOLVED THAT the Sanford Area Home Builders <br />Association requests that,the Lee County Board of Commissioners <br />place on the May 6, 2008 ballot for approval by the voters of Lee <br />County a referendum to levy only an additional one-fourth percent <br />(0.25%) local option sales and use tax; and <br />BE IT FURTHER RESOLVED THAT if said referendum is passed by the voters <br />of Lee County, the proceeds will be used for the needs of public <br />education in Lee County. <br />Adopted by the Board of Directors of the Sanford Area Home Builder Association <br />this the 31 s` day of January 2008. <br />