Minutes - 19840402 - Laserfiche WebLink

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iii 3 2. Authorize a vote on a 8 to.9 million bone issue (7.8 million dollars in identified needs were presented in the report). 3. Implement, by resolution, the 1/2~ local option sales tax. ~. Dedicate 100 of the County's share of the 1/2~ sales tar. for school capital and school debt service, indefinitely. 5. Consider a supplemental county-wide tax `f or school capital. ti~7allace Harding, Finance Director, presented data on a 7.8 million bond issue and the accumulation of sales tax proceeds in a Capital Reserve fund and gave the advantages and disadvantages of both. (see the permanent files for a copy of this presentation). Commissioner t3hitted noted that the recorunendations from the P.d Hoc Capital Task Force were put on the agenda for discussion only in an y effort to understand all the ramifications that a decision on any one of the five recommendations will have on the other. In order to address all the needs of the schools, all five recommendations will be needed. A decision on the recommendation for the revenue from the sales tax to be used to retire the bond indebtedness will need to be made prior to the decision on the sales tax. If there is no bond issue then there would be no recommendation in terns of the sales tax. Commissioner ti•7alker stated that if the sales tax passes he would be in favor of a pay-as-you-go phased construction and an 80/20 split. He felt it unrealistic to plan for 20 years in advance because the needs will change in that time. Richard Sharpless, Chair of the Ad Hoc Committee acknowledged - that with the pay-as-you-go plan, the recommendations would simply have to be put off until money is available to pay far them. Commissioner Whitted indicated that with the passage of the sales tax, there ~~~ill stir be a need to increase the property taxes. Also, the sales tax recommendation made by Commissioner ti~7alker will not provide sufficient revenue to meet all the school needs, and county programs that were identified by the Task Force . Canunissioner Lloyd indicated the payback of a bond issue with -sales tax monies. would be expensive and make it impracticable. Commissioner E:arshall pointed out the complexities of this issue and the need for education dollars, for capital and other needs in the future. There is no way to determine if a bond issue cvould pass or nat. There are an enormous number of people very concerned about the needs of the schools but additional information is needed be r""ore presenting a referendum for the bond issue. Commissioner piarshall would support going to a referendum if a pacF:age was developed that could be promoted defining _.._ how each school system will use the money and specifically Stanbeck School. Additional revenue is needed and the 1/2 cent sales tax is the better way - to go at this time. Commissioner ti?hitted expressed concern that each recommendation from the Ad Hoc Capital deeds Task Force be addressed and a determination be made for each recommendation. 5 • L~Y~~F. `~1:~~~`~'x~&I,~-~LF-HALF $.~83~+~~.A~)~~~i Glotion was made by Commissioner 47alker, seconded by Commissioner Lloyd that the one-half ~ sales tax be levied with phased construction or pay-as-you-go with an 80/20 split for a period of 5-1/2 years. It was understood that with the above motion Con'saissioner ti•7alker eliminated any possibility of the bond issue.