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3 <br />Commissioners recommends that counties undertake a public education campaign to educate <br />voters. County staff envisions any education initiative to be similar to those the County has <br />undertaken for past voter approved bond referenda. <br />If the Board of Commissioners does decide to move forward with a referendum and a majority <br />of voters approve the sales tax referendum, the Board will be required to give ten (10) days <br />public notice of the Board's intent to levy the tax. The Board would then hold a required public <br />hearing and consider a new resolution to actually levy the tax. The Board must adopt that <br />additional resolution in order for the tax to take effect. Based on election certification <br />timeframes, the Board of Commissioners' regular meeting schedule, and timing and other <br />requirements associated with the North Carolina Department of Revenue and North Carolina <br />General Statute 105 -466, the earliest date the additional sales tax could become effective <br />following a November 2, 2010 referendum would be April 1, 2011. <br />FINANCIAL IMPACT: There is no financial impact associated with conducting a public hearing <br />to solicit comments from the public on a possible November 2, 2010 Special Advisory <br />Referendum Concerning the Levy of a One - Quarter Cent (1/4¢) County Sales and Use Tax. <br />If a majority of voters approved the sales tax and the Board of Commissioners implemented the <br />sales tax as soon after the November 2, 2010 referendum as possible, it could have an <br />effective date of April 1, 2011. Approximately $575,000 would be generated during the <br />remainder /last quarter of FY 2010 -11. As an additional revenue source in the following years, <br />the sales and use tax would generate approximately $2,300,000 annually for the County. <br />RECOMMENDATION(S): The Manager recommends the Board conduct a public hearing to <br />solicit comments from the public on a possible November 2, 2010 Special Advisory Referendum <br />Concerning the Levy of a One - Quarter Cent (1/4¢) County Sales and Use Tax, provide any <br />comments and questions to staff, and provide any direction on next steps. <br />