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WOHLFORTH I BRECHT I CARTLEDGE I BROOKING <br /> A PROFESSIONAL CORPORATION <br /> Julius J. Brecht TELEPHONE <br /> Cheryl Rawls Brooking ATTORNEYS AT LAW 907.276.6401 <br /> Cynthia L. Cartledge <br /> Michael Gatti 900 WEST 5TH AVENUE, SUITE 600 FACSIMILE <br /> Clyde W. Hutchins Jr. 907.276.5093 <br /> Leila R. Kimbrell ANCHORAGE, ALASKA 99501-2048 <br /> Eric E. Wohlforth WEBSITE <br /> WWW.AKATTY.COM <br /> MEMORANDUM <br /> TO: Seward City Council RECE ED <br /> APR 2 20 <br /> FROM: Cheryl Brooking, City Attorney 5 -TF�11E <br /> �)F- <br /> DATE: April 25, 2011 CITY CLVRK <br /> SUBJECT: Work Session Regarding Financing Alternatives for Library/Museum <br /> Project <br /> This Memorandum summarizes legal issues related to various funding <br /> alternatives, and incorporates some discussion points raised at public meetings. It is <br /> intended to serve as information to assist Council in its decision-making process. In <br /> 2009, Seward voters agreed to pledge the City's full faith and credit for repayment of up <br /> to $5 million principal amount of bonds for the library/museum project. <br /> 1. Alcohol Beverage Taxes. <br /> AS 04.21.010(c): A municipality may not impose taxes on alcoholic beverages except a <br /> (1) property tax on alcoholic beverage inventories; <br /> (2) sales tax on alcoholic beverage sales if sales taxes are imposed on <br /> other sales within the municipality; <br /> (3) sales tax on alcoholic beverage sales that was in effect before July 1, 1985; <br /> and <br /> (4) sales and use tax on alcoholic beverages if the sale of alcoholic beverages <br /> within the municipality has been prohibited under AS 04.11.491(a)(1), (4), or (5). <br /> a. Property Tax on Alcohol Beverage Inventories. <br /> The alcoholic beverage inventories would be tax based on the City's mil rate, <br /> which is currently 3.12. <br />