HomeMy WebLinkAboutC.054.93010_0100WHEREAS, our attractiveness, which has long been known to our citizens, has now become
known to the rest of the world, and people in constantly -increasing numbers are moving to Iredel!
County, resulting in student enrollment increasing at a
conventional revenue sources; and faster rate than can he financed with
WHEREAS, the school systems
studies, and project school nedhichstudiessengaged ORED Laboratories to analvze data
conduct
howed thatstudent enrollmentlras been increasing
,
at the rate
es, wofapproximately 800 students peryear with approximately 3, p00students already housed
in mobile traits, and projected that at least 7, 000 additional student spaces will be required by housed whir/r will cost over 5142 million in inflation-adjusted dol2008,
lars; and
WHEREAS, the recent growth in required school facilities has beer[ financed by a
combination of general obligation bands (CO Bonds) and certificates o/" participation (COPS),
nx ludmg COPS -type frtancing to be issued for the new Lake 1Vornum ffigh School, additions to
Mooresville high School, and completion ofthe Perth Road School complex; and
WHEREAS, frnancing schools with borrowed money generally
an results in interest and other
costs ofsubstantially wore thftfty percent ofthe amount borrower/; and
WHEREAS, a one -cent sales tax will generate approximately S(
Present value dollars; and 4 4 million per amranr it,
WHEREAS, it would take an approximate 14.5 cent increase in the property tar rate to yield
the same revenues as a one -cent increase in the sales tax; and .
WHEREAS, we believe that a system of pavin
rather than with borrowed monies, will among other things save huge sums of buerest. legal jeer,
to plan orderly growth and more fairly w
gor the construction ofschools as needed.
f
and costs, not leave the County in debt in the event ofrecession or depression, alloschool boards
savers; and spread the cost ofgrowth among consumers rather than
WHEREAS, -believe our children are our most precious
an ocommodity, and that providing
pportunity fora sound education
eriiy; but
in aut wholesome, heathy environment is our foremost fiduct of
duty to them and to our posterity; b
WHEREAS, taxes ofall forms are onerous and burdensome and should lasno longer than
absolutely necessary for the purposes intended; and
WHEREAS, a one -cent sales tax, expiring at the end often years, would supplement and trot
supplant existing property tax revenues, provide for orderly ,school growth without interest and
costs, fairly spread the cost expire w construction among all consumers rather than just upon the
Property owners, and would expire when no longer needed,. and
WffEREAS, the same growth that
numerous is requiring the additional classroonr,s has created
other capital and operational budgetary needs, including for example, additional law
enforcement, social services, courthouse and libraryfacilities, the only present sources ofjinm:cing
ofwhich are ad valorem property taxes and borrowing;
ITIS THEREFORE HEREBYRESOLVED,
The
County tovote at the next general election uponna is the q eb tion.- Toned to allow the citizens of lredell
P question;
Should existingpropert), tax revenues be supplemented by the levy, ofa $ 01 sales
tar to be used exclusively for school construction purp
years, or until a statewide one -cent sales tax devoted oses of a term often (!0)
exclusively to school
construction purposes is enacted?
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