AG 2003 03 17 - Laserfiche WebLink

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Resolution No. 2003- County of Cabarrus The State of North Carolina March 17, 2003 RESOLUTION TO PRESERVE THE CURRENT COMBINED STATE AND LOCAL GOVERNMEN~ SALES AND USE TAX AT SIX AND ONE-HALF PERCENT WHEREAS, the C~neral Assembly has authorized the Cabarrus County Board of Commissioners to levy a oS-half percent (1/2%) local sales and use tax by enacting N.C.G.S. 105-517(b) in Section 34.14~) of Session Law 2001-424, as amended by Session Law 2002-123, and WHEREAS, Sessicha Law 2001-424 Section 34.13(a) is repealed July 1, 2003, eliminating the one-half peircent (1/2%) sales tax that became effective October 16, 2001, thereby allowing for the pre_iervation of a combined state and local sales and use tax of six and one-half percent (6 ½%). -~ WHEREAS, the Cabarms County Board of Commissioners held the public hearing on the issue of adopting this resblution on March 17, 2003, as required by N.C.G.S. 105-517(b) and proper public notice of the Bloard's intent to consider this resolution was provided as required by N.C.G.S. 105-517(b); and, ~ WHEREAS, Cabarr~s County has lost nearly $4 million in funds made available by the State of North Carolina to relplace revenue lost because of legislative action: (1) to repeal sales taxes imposed on purchases made with Food Stamps; (2) to repeal property taxes imposed on inventories held by manufa&urers, retailers and wholesalers; (3) to repeal taxes on intangible personal property; and (4) tS reduce taxes levied on residential property owned by Iow-income elderly taxpayers. WHEREAS, the aabarrus County Board of Commissioners hereby finds that, particularly in light of the c[a'cumstances cited herein, it is necessary to maintain the combined state and local government-~ales and use tax at six and one-half percent (6½%) in order to adequately finance the operations of the county and the cities and towns herein. NOW, THEREFOIiE, BE IT RESOLVED by the Cabarrus County Board of Commissioners that: (1) There is hereby imposed and levied within Cabarms County the third one-half percent (1/2~) Local Government Sales and Use Tax authorized by Section 34.14(a) of S~}ssion Law 2001-424, as amended by Session Law 2002-123, and codified as A/~ticle 44 of Chapter 105 of the General Statutes of North Carolina. The tax hereby, imposed and levied shall apply to the same extent and be subject to the same limitations as are set forth in said Session Law 2001-424.