Referendum -

Summary

Shall a special one percent sales and use tax be imposed in Bamberg County for not more than seven years, beginning on the May 1st immediately following the expiration of Bamberg County’s existing capital project sales and use tax to ensure no interruption in the imposition of collection of the sales and use tax, and shall the 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 the County in the aggregate principal amount no to exceed $5,600,000, to be repayable solely from the one percent 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 the County, including specifically the following purposes, listed in order of priority with estimated cost Projects: Law Enforcement, Health & Human Services Complex (Phase 1) (Bamberg County) $3,800,000 Renovation of Old City Hall and Relocation of Police Department (City of Denmark) $400,000 Upgrade of Water System (Town of Olar) $71,000 Renovation of Community Center (Little Swamp) $15,000 Welcome Center and Tourism Building (City of Bamberg) $150,000 Completion of Ehrhardt Park (Town of Ehrhardt) $105,000 Renovation of Town Hall (Town of Govan) $50,000 Construction of Walking Berm, Lighting, Ditch Repair & Walkway Upgrades (City of Bamberg) $125,000 Raider Park - Bicycle & Walking Trail, Fountain Lighting (City of Bamberg) $125,000 Renovation of Town Hall (Town of Olar) $3,000 CONDITIONS AND RESTRICTIONS ON THE USE OF THE SALES AND USE TAX REVENUE COLLECTED UNDER THE CAPITAL PROJECTS SALES TAX ACT: The capital projects sales and use tax shall be used and expended for procurement, design, engineering, construction or improvement 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 some of 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 priority of the projects as originally submitted by the Capital Project Sales Tax Commission.