tax issue


staff reports

Registered voters who live within Fremont city limits will see two questions on Tuesday's ballot concerning the proposed 1/2 percent sales tax increase.

The first question will ask for the approval of an economic development program.

The proposal will allow annual appropriations from local funds during the next 10 years for a maximum of $1 million for an economic development program.

A possible site for economic development would be at the northwest end of town near the Fremont Municipal Airport. Funds would be used to develop that for businesses interested in locating in Fremont.

The second question will ask for the approval of a 1/2 percent sales tax increase in Fremont.

If approved, the tax would become effective Oct. 1, and would sunset Sept. 30, 2004.

Half of the revenue collected, an estimated $6.25 million during its five-year life, would be used for economic development.

The remaining 50 percent would be used for city street improvement projects in Fremont.

An estimated $6.25 million would be collected during the five-year tax if it is imposed.

The revenue collected would be restricted funds, and money could be used for development projects or city street improvement projects only.

Development projects would include the extension of sewer, gas, water, electricity and access roads on the proposed site near the airport.

Those eligible to vote on the economic development proposal and the proposed 1/2 percent sales tax increase includes registered voters living within Fremont city limits.

The polls open at 8 a.m., and will close at 8 p.m.

Subscribe to Breaking News

* I understand and agree that registration on or use of this site constitutes agreement to its user agreement and privacy policy.

Load comments