2009/10/14 Council Agenda Packet

�i rc`1x.,��pn,1'�'t/�4+ C 4 /� -r. �k r h } 7 � �I�C'.7L�( purg�1�- i- �� ii-L �-�jl_On'tD 1-1 to6 dtC� �F�.�� awn�f - _ I A PROJECT TITLE: A Resolution in Opposition to Consent COUNCIL BILL# Initiative 1033 limiting the X Action Originating Department Council growth of certain state, county First Reading Contact Person Paul Roberts and city revenue to annual Second Reading Phone Number 425-257-8781 inflation and population Third Reading FOR AGENDA OF Oct. 14,2009 growth,not including voter- Public Hearing approved revenue increases. Initialed by: Revenue collected above the Department Head limit would reduce property tax CAA levies. Council President Location Preceding Action Attachments Department(s)Approval 10/7—Presentation on Resolution Initiative 1033 Amount Budgeted -0- Expends Required uired -0- Account Number(s): q Budget Remaining -0- Additional Required -0- DETAILED SUMMARY STATEMENT: The Washington Secretary of State certified Initiative 1033 for the ballot on November 3,2009.Initiative 1033 would place an inflationary and population-based growth limit on state,county, and city general fund revenues received from taxes, fees, and other charges not expressly approved by voters. The Initiative requires that revenues exceeding the limit be placed in a"lower property taxes account" and used to reduce following-year state, city, or county general fund property tax levies. The City has carefully considered the direct and indirect impacts of Initiative 1033 and concludes the initiative will undermine the ability of the City to provide services to its residents,to carefully manage its budgets, and to invest in capital improvements and infrastructure necessary to serve and maintain growth. RECOMMENDATION: Adopt A Resolution in Opposition to Initiative 1033 limiting the growth of certain state, county and city revenue to annual inflation and population growth,not including voter-approved revenue increases. Revenue collected above the limit would reduce property tax levies. 7