SUMMARY OF ORDINANCE 2020-10 OF THE

95959 | 07/29/2020 | Ad id: 4-0000604381-01
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SUMMARY OF ORDINANCE 2020-10 OF THE CITY OF NEVADA CITY, CALIFORNIA IMPOSING A TRANSACTIONS AND USE TAX TO BE ADMINISTERED BY THE CALIFORNIA DEPARTMENT OF TAX AND FEE ADMINISTRATION The Ordinance adds Chapter 3.54 to the Nevada City Municipal Code entitled "Special Transactions and Use Tax" which imposes a special retail transactions and use tax beginning January 1, 2022, of 0.5% ( 1/2 ยข per dollar) upon purchases made in the City of Nevada City. The tax would remain in place until repealed by the voters and will be administered by the California Department of Tax And Fee Administration. Proceeds of the taxes imposed by the ordinance will be deposited in a special account and expended only for the specific projects of improving and maintaining all of Nevada City's streets, sidewalks, pathways, drainage, water distribution and sewer collection systems and for no other purposes. The ordinance requires the City's Finance Director to, at least annually, file a report with the City Council stating both: (i) the amount of funds collected and expended, and (ii) the status of any expenditure authorized by the ordinance. The ordinance also requires the City Council to establish a five-member Citizen's Oversight Committee, of citizens living within the City limits, to review the Finance Director's annual report and may make such recommendations to the City Council as it deems necessary or useful. The ordinance was approved by a 4-0 vote of the City Councilmembers (with one vacant Councilmember seat), but will not take effect unless and until approved by 2/3 of the voters of Nevada City, at the November 3, 2020, special municipal election. A copy of the full text of the ordinance is available for review at City Hall, 317 Broad Street, Nevada City, CA 95959 and posted online at www.nevadacityca.gov. NEVADA CITY CITY COUNCIL By: Gabrielle Christakes, Administrative Services Technician PUBLISH: July 24, 2020 Ad #0000604381