Referendum 1 - Capital Project Sales and Use Tax

Must a special capital project one percent sales and use tax be imposed in McCormick County for not more than seven (7) years beginning immediately at the expiration of McCormick County's existing capital project sales and use tax to ensure no interruption in the imposition or collection of the capital project sales and use tax and ending April 30, 2032, and shall McCormick County be empowered to issue, either at one time as a single issue or from time to time as several separate issues, general obligation bonds of McCormick County in the aggregate principal amount not to exceed $7,300,000, to be repayable solely from the capital project sales and use tax or other available sources, the proceeds of which shall be used to defray the costs of the capital improvement needs of McCormick County, including, specifically, the following purposes: PROJECTS 1. Public Safety Communications Improvements Project (McCormick County) - $516,420.00 Upgrade Radio System used in Sheriff's Office, McCormick Town Police Department, McCormick County EMS, 7 volunteer fire departments, McCormick County Roads & Bridges – involving 3 tower sites, 4 channel UHF, and 3 AVTEC position upgrades in Hwy. 67 area 2. Fire Department Ladder Truck Acquisition Project (McCormick County) - $400,000.00 Purchase 2010 or newer aerial ladder truck (Sandy Branch VFD) 3. Fire Department Training Center Project (McCormick County) - $575,000.00 4. Fire Department Tanker Truck Acquisition Project (Town of Parksville) - $400,000.00 Tanker holding 3000 gallons of water and 1250 gallons per minute pump with 2-1 and ¾ fire attack lines 5. Fire Department Construction Project - $33,000.00 Clarks Hill/Lost Wilderness VFD Metal Building for Fire Truck 6. Fire Department Pumper Replacement Project - $260,000.00 Clarks Hill/Lost Wilderness VFD Replace 1980 1200-gallon pumper with used 2010-2012 2000-gallon pumper 7. Fire Department Tanker Truck Acquisition Project (Town of McCormick) - $200,000.00 Purchase used tanker not to exceed 2500 gallons 8. Fire Department Self-contained Breathing Apparatus Project - $15,919.80 Clarks Hill/Lost Wilderness Volunteer Fire Department Project 9. Fire Department Construction Project (McCormick County) - $1,000,000.00 Modoc VFD building to be constructed and owned by McCormick County 10.McCormick Senior Center Vehicle Acquisitions Project (McCormick County) - $520,000.00 Purchase of vans 11. Piedmont Technical College Laboratory Facility Improvements Project - $500,000.00 (Piedmont Technical College) 12. McCormick Arts Council (MACK) Construction/Renovation Project - $500,000.00 Hotel Keturah Renovation 13. Town of McCormick Improvements Project - $150,000.00 Renovate Town Hall & Police Facilities 14. McCormick County Historical Commission - $285,000.00 Historical Dorn Mill Complex Improvements Project 15. Willington on the Way Improvements Project (McCormick County) - $52,800.00 Preserve, revitalize, and maintain 6 historic buildings on Hwy. 81 in Willington 16. MIMS Community Center #3 Renovation Project - $250,000.00 17. Airport Improvements Project (McCormick County) - $1,641,860.20 TOTAL COST OF PROJECTS: $7,300,000 CONDITIONS AND RESTRICTIONS ON THE USE OF THE SALES AND USE TAX REVENUE COLLECTED UNDER THE CAPITAL PROJECTS SALES TAX ACT: The capital project sales and use tax shall be used and expended for procurement, design, engineering, construction, improvement, reimbursement, or similar type uses of the Projects listed above. Net proceeds of the sales and use tax must be expended for the purposes stated, with the projects listed above expected to be funded simultaneously. The completion of the above projects funded by the sales and use tax is subject to acquisition of property and right-of-way, design and engineering considerations, funding of projects from other sources, bids in excess of project estimates, qualifications of bidders, cost overruns, financing costs, exhaustion of net sales and use tax revenues prior to the completion of the projects stated above and other unforeseen circumstances and conditions, which, if any of these circumstances are encountered, the County Council reserves the right to make adjustments to the projects accordingly which do not add, delete or change the projects as originally submitted by the Capital Project Sales Tax Commission. In the event the capital project sales and use tax proceeds are inadequate for the payment of the bonds, the source of payment of the bonds will be ad valorem property taxes levied on all property located in McCormick County.