AgdaPkt 2006-08-28 - Laserfiche WebLink

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7A Page 13 /~):( J\ !:;r{, ~. i 6 11 n fU~ [-."" .~::. ...C-..ii~..l-..';" ifJ. ..} ~~ 't,..-~..J."l;i..:i' San Mateo County 1/8 Cent Sales Tax Measure for Parks and Recreation This measure authorizes the enactment of a one-eighth (1/8) cent retail transaction and use (sales) tax to fund park acquisition, improvements, maintenance, programs and operations, including recreation and recreation programs, within the incorporated and unincorporated areas of San Mateo County, with the following requirements: $ The tax will be levied for a period of twenty-five (25) years. $ Revenues from the tax may only be used for park acquisition, improvements, maintenance, programs, and operations, including recreation and recreation programs, within the incorporated and unincorporated areas of the County, and $ shall be used only in accordance with the expenditure plan set forth below. During the first year that the tax is levied. net tax revenues, after deduction of administrative expenses, will be apportioned among the County, all cities within the County ("Cities"), and the MidPeninsula Regional Open Space District, the Highlands Recreation District, and the Ladera Recreation District (collectively, "Districts") on the following basis: 1. The County will receive 42% of net tax revenues. 2. Districts will receive 6% of net tax revenues. Of the amounts allocated to the Districts, the MidPeninsula Regional Open Space District will receive 70%, the Highlands Recreation District will receive 20%. and Ladera Recreation District will receive 10% of such amounts. 3. Cities will receive 52% of net tax revenues, with each city to receive a portion of the total Cities' allocation calculated on a per capita basis, using yearly population figures published by the State Department of Finance. Notwithstanding the amounts calculated on a per capita basis, each city will receive from the Cities' allocation a minimum distribution equal to 1.357% of total net tax revenues and the remaining City allocations will be adjusted $ accordingly. In each year after the first year, the County I Districts I and Cities shall share in any growth in sales tax revenues of up to four percent (4%) over the previous year in accordance with the allocation percentages set forth above. In each year after the first year, the Cities and Districts only shall share in any growth in sales tax revenues over the previous year which exceeds four percent (4%). Districts will be allocated 10% and Cities will be allocated 90% of any such sales tax revenues exceeding a four percent (4%) growth in sales tax revenues over the previous year. For each year after the first year, the method of allocation to each of the Cities and Districts shall be the same as that for first year, including $ the minimum allocation of 1.357% for each City. The County and each city will establish a general fund baseline Parks and Recreation budget for Fiscal Year 2006/07. measured in dollars. The baseline budget will be adjusted every five years, beginning in Fiscal Year 2011/12, and continuing at five year intervals thereafter, by applying the Bay Area Consumer Price Index, published by the Bureau of Labor Statistics, or a successor index. In order to receive its full share of sales tax proceedS for a give n fiscal year, the 6 -