Laserfiche WebLink
Adk AM <br />BOOK 22 PAGE ;,7 <br />Resolution of the <br />Sanford Area Chamber of Commerce <br />in support of <br />a $0.0025 increase in the local option sales and use tax <br />for education facilities needs in Lee County <br />Whereas, our community is rapidly growing with projections placing Lee <br />County in the top ten fastest growing counties in North Carolina; and <br />Whereas, growth is good for merchants, service providers, professionals and <br />local industry because it provides more customers, good employees and <br />increased commerce and competition; and <br />Whereas, Lee County should prepare for this growth by continuing to update <br />education opportunities and facilities for our children and community college <br />students; and <br />Whereas, education lottery is not producing enough revenue to fund needed <br />improvements; and <br />Whereas, other methods of funding education facilities are limited by law <br />and by prudent financial practice; and <br />Whereas, the North Carolina General Assembly authorized county <br />governments to place before the voters the question of a one-quarter of one <br />cent increase in the local sales and use tax rate or a four-tenths of one <br />percent property transfer tax; and <br />Whereas, the sales and use tax is a broad-based, fair and reliable means to <br />fund the corporate needs of our community; and <br />Whereas, the business community, in response to the Chamber's survey, <br />overwhelmingly supports the local sales and use tax increase for education <br />facilities. <br />Now, therefore be it resolved, the Sanford Area Chamber of Commerce <br />supports: <br />✓ the Board of Commissioners resolution for a May referendum on <br />the local option sales and use tax increase of one-quarter of one <br />cent. <br />✓ rejection of the property transfer tax by the Board of <br />Commissioners as an inequitable and undesirable option to fund <br />school facilities. <br />✓ the proceeds of a sales and use tax increase to be used for <br />construction of educational facilities at our public schools and <br />community college which should be carefully planned and <br />adequately maintained. <br />✓ protection of Lee County's credit rating; cautious use of general <br />obligation bond indebtedness and a fair property tax rate <br />Adopted by the Board of Directors this 15`h day of February, 2008. <br />Chet Mann, hairman <br />FEB 1 8 2008 <br />, ~T <br />