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ORD 91-45 ADDITIONAL EXCISE TAXORDINANCE NO. 91-45 AN ORDINANCE of the City of Bainbridge Island, Washington, imposing an additional excise tax as authorized by RCW 82.46.035; amending sections 3.56.030, 3.56.040 and 3.56.080 of the Bainbridge Municipal Code; and adding new section 3.56.015 to the Bainbridge Municipal Code. WHEREAS, the recent enactment of RCW 82.46.035 authorizes the City to impose an additional excise tax on each sale of real property in the corporate limits of the City to finance capital projects specified in the capital facilities plan element of the City's comprehensive plan; and WHEREAS, the City Council of the City of Bainbridge Island has determined that it is in the best interest of the health, safety and welfare of the citizens of the City of Bainbridge Island to impose the additional excise tax; now, therefore, THE CITY COUNCIL OF THE CITY OF BAINBRIDGE ISLAND, WASHINGTON, DO ORDAIN AS FOLLOWS: Section 1. Section 3.56.030 of the Bainbridge Municipal Code is amended as follows: Consistency with state tax. The taxes imposed in this chapter shall comply with all applicable rules, regulations, laws and court decisions regarding real estate excise taxes as imposed by the state under RCW Chapters 82.45 and 82.46 and Chapter 458-61 WAC. The provisions of those chapters, to the extent they are not inconsistent with this chapter, shall apply as though fully set forth in this chapter. Section 2. Section 3.56.040 of the Winslow Municipal Code is amended as follows: Distribution of ((tax4) proceeds from tax imposed under Section 3.56.010 and limiting use thereof. The proceeds from the taxes imposed by Section 3.56.010 shall be distributed as follows: A. The county treasurer shall place one percent of the proceeds ( (o -f- tie- taxes- Imposed- In- this- ehaptezr4 ) in the county current expense fund to defray costs of collection. B. The remaining proceeds (1from-eity-taxes- imposed=in=this=ehapter4) shall be distributed to the city monthly and ((th©se=taxes=imp©sed=ode=Se€ti©A=�,�6,��0�) shall be placed by the city treasurer in a municipal capital improvements fund. ((These-capital-imprevement-€aeds4) On or before July 1, 1990, revenues generated from the taxes shall be used ((by=the=€ityJ) for local improvements, including those listed in RCW 35.43.040. After July 1, 1990, revenues generated from the taxes shall be used primarily for financing capital projects specified in a capital facilities plan element of the City's comprehensive plan and housing relocation assistance under RCW 56.18.440 and 59.18.450. C. This section shall not limit the existing authority of the city to impose special assessments on property benefited thereby in the manner prescribed by law. Section 3. Section 3.56.080 of the Winslow Municipal Code is amended as follows: Date payable. The taxes imposed under this chapter shall become due and payable immediately at the time of sale and, if not so paid within thirty days thereafter, shall bear interest at the rate of one percent per month from the time of the sale until the date of payment. Section 4. A new section is added to Chapter 3.56 of the Winslow Municipal Code as follows: 3.56.015 Additional Tax - Distribution of Proceeds. A. There is imposed an additional tax of one quarter of one percent of the selling price on each sale of real property located within the corporate limits of the city. The tax imposed by this section shall be in addition to the tax imposed under Section 3.56.010. B. The proceeds from the tax imposed under this section shall be placed by the city treasurer in a separate account entitled "Capital Facilities Fund," and shall be used by the city solely for financing capital projects specified in the capital facilities plan element of the city's comprehensive plan. Section 5. This Ordinance shall take effect and be in force five days from and after its passage, approval, publication and posting as required by law. PASSED by the City Council this 30th day of December 199 1 . APPROVED by the Mayor this 30th day of perr 199 1 am J. nato, Mayor ATTEST/AUTHENTICATE: alph Eells, City Clerk APPROVED AS TO FORM: Rod P. Kaseguma, City Attorney FILED WITH THE CITY CLERK: December 26, 1991 PASSED BY THE CITY COUNCIL: Decer,iber 30, 1991 PUBLISHED: January 8, 1992 POSTED: January 8, 1992 EFFECTIVE DATE: January 13, 1992 ORDINANCE NO.: 91-45 JFSA to/cab/3220f i — 3 —