Laserfiche WebLink
<br /> Ms. Bascom noted the schedules could be changed in several ways. For example, <br />- the library could be paid for in 20 years. <br /> Answering other questions, Mr. Wong said a city income tax will be withheld by <br /> employers without regard to credits. The tax including the credits will be <br /> figured on a separate form when other income tax forms are filed. Mr. Gleason <br /> said about $2.5 to $2.7 million annually has been spent on capital improve- <br /> ments in the past. If $3.5 million is available (1/2 percent income tax), <br /> projects such as streets overlays, building maintenance, and replacement of <br /> fire equipment could be accomplished. Mr. Whitlow emphasized that street <br /> overlays have been neglected and they would have a high priority. If the <br /> money is used for fire and police equipment, it may decrease operating <br /> expenses which come from the General Fund. He said a 1/2 percent income tax <br /> will pay for all the projects on the current CIP. Mr. Wong said no general <br /> fund money has been spent for the CIP recently. <br /> Answering a question from Mr. Hansen, Mr. Gleason said he would like to put <br /> increased operating revenues into the Police Department first and then into <br /> the Police and Fire Departments. <br /> Discussing the increase in library operating expenses after the expansion, <br /> Mr. Gleason said it is comparatively low because of automation. The expansion <br /> will not be completed for at least six years, and, in that time, the money for <br /> operating expenses probably can be found. In that time, also, operating <br /> methods may change. Perhaps expenses can be shared on a regional basis. <br />~~ Mr. Holmer is worried about increased library operating expenses. He said the <br /> $450,000 needed by the Hult Center is an example of the risk when a clear and <br /> defensible program is not presented to the voters. <br /> II. DRAFT LEGISLATION <br /> A. Personal Income Tax <br /> Mr. Wong said the new city personal income tax material sent to the council <br /> contained only a few changes. <br /> B. Ballot Measure and Charter Amendment <br /> Mr. Wong distributed drafts of a Charter Amendment Limiting Income Tax Rate <br /> and Dedicating Revenues and a Charter Amendment Authorizing Revenue Bonds. He <br /> said the statutes require that revenues from projects, such as a sewer plant, <br /> be used to pay for revenue bonds. He had been advised that income tax cannot <br /> be used to pay a revenue bond. Therefore, a charter amendment will be needed <br /> to authorize the City to use income tax funds to pay for revenue bonds. T~t <br /> charter amendment does not have to be on the same ballot the income tax is on. <br /> Mayor Obie noted that the draft ballot measure and charter amendment indicated <br /> that the income tax will be used for capital improvements. He suggested it <br /> also indicate that the income tax will be used for the airport and library. <br />- <br />