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WHEREAS, under the new law, the maximum rate of 0.0146 percent is available only to <br />a city levying a qualifying local tax; and <br />WHEREAS, a county may not levy the tax within the limits of a city imposing the tax at <br />0.0146 percent; <br />WHEREAS, Edmonds does not presently have a qualifying local tax and this Ordinance <br />would not impose a qualifying local tax; and <br />WHEREAS, Edmonds could still obtain the maximum rate of 0.0146 percent under the <br />new law if a qualifying local tax is instated in Edmonds no later than July 28, 2020 (this would <br />require separate additional action beyond the scope of this Ordinance); and <br />WHEREAS, under the new law, the rate of 0.0073 percent is available to a city, like <br />Edmonds, without a qualifying local tax; and <br />WHEREAS, to impose the tax under the new law, a city legislative authority must adopt a <br />resolution of intent within six months of July 28, 2019, and impose the tax within one year; and <br />WHEREAS, the City Council adopted a resolution of intent on August 20, 2019; and <br />WHEREAS, the tax imposed by this Ordinance is deducted against the state sales tax <br />collected in the jurisdiction, so it does not increase the total sale and use tax paid by the final <br />consumer or end user; and <br />WHEREAS, under this new tax, the amount a city may collect in any state fiscal year is <br />limited based on taxable retail sales in the jurisdiction for state fiscal year 2019; and <br />WHEREAS, a city may bond against the revenue generated by this tax; and <br />WHEREAS, the revenue collected or bonds issued may only be used for: 1) acquiring, <br />rehabilitating, or constructing affordable housing, including new units of affordable housing within <br />an existing structure or facilities providing supportive housing services to individuals with mental <br />or behavioral disorders; or 2) operations and maintenance costs of new units of affordable or <br />supportive housing; and <br />WHEREAS, cities with a population of 100,000 or less may also use the revenue to provide <br />rental assistance to tenants; and <br />2 <br />