ITEM TITLE:
Consider approving a Resolution, repealing and replacing Resolution No. 2023-75 specifying the revised intent of the Mayor and Council of the City of Lawton, Oklahoma with regard to the replacement of the existing seven-eighths of one percent (7/8%) Capital Improvement/Operational Expenditure Sales Tax and the one and one-quarter percent (1.25%) Capital Improvement Sales Tax with a new sales tax to be levied of two and one-eighth percent (2.125%) as approved by the registered voters of the City of Lawton, Oklahoma at an election held for such purpose on February 11, 2020.
INITIATOR: Timothy Wilson, Deputy City Attorney
STAFF INFORMATION SOURCE: Timothy Wilson - Deputy City Attorney; John Ratliff - City Manager; Kristin Huntley - Interim Finance Director
BACKGROUND: On February 11, 2020, Lawton voters approved a proposition that replaced the 7/8% 2015 Capital Improvement/Operational Expenditure Sales Tax and the 1.25% 2016 Capital Improvement Sales Tax (CIPs) with a new excise tax of two and one-eighth percent (2.125%). In connection with the voters' approval, a Resolution of Intent that set out the specific projects and operational expenditures the proposed sales tax will fund was adopted by the City Council. Those projects/expenditures include completion of projects/expenditures currently being funded and to be funded by the 2015 and 2016 sales taxes, along with new projects/expenditures enabled by the extension of both CIPs. Said resolution was revised in 2020 to add a category to fund infrastructure and financial support of new and existing retail development and retention in accordance with the City's retail development policy. The Resolution of Intent was further revised in 2021 to add a new category for Program Administration to include funding for the development of a program management system/tool, bond/financing fees and associated legal expenses, and other administrative costs as approved by the council, with the total cost of said pr...
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